THE PROBLEM
Paying maintenance fees for large patent portfolios is often times challenging when companies change their strategic direction and operate in dynamic competitive landscapes. Many of the patents might no longer be necessary, their validity could become questionable, and enforceability doubtable. To decide whether to keep your patents, each has to be reviewed, every four years, by expensive lawyers and engineers. This process is so expensive that many choose to keep them all and pay millions each year for unnecessary patents, while others randomly abandon patents of extremely high strategic value for the company.
THE SOLUTION
PatenTrack automated the entire process, reducing the amount of time necessary for reviewing by each patent's relevant stakeholders by over 75%. The result is team based informed decisions are made fast and efficiently, with minimum distraction to your busy lawyers, engineers and strategists. Then all is left for you is to: 1) select the patents to pay, 2) click Pay, and 3) click OK. You pay directly to the Patent Office, and we charge no commission.
Working on a merger, PatenTrack helped us finding patents that were not recorder on our name.
Amir Brody, Essex LLCWith PatenTrack we were able to quickly locate the patents with broken chain of title.
Rachel Abrams, Choetech IncPRODUCTS AND BENEFITS
Locate Lost Patents
It's an unfortunate fact that enterprises miss maintenance fee payments and loose many valuable patents merely for not being aware of those patents. Start with PatenTrack's Locate-Lost-Patents.
Due-for-Payment
PatenTrack automatically produces for you the list of assets that are currently due for payment, organized under their owner company, together with the amount due and payment history.
Neat & Tidy
Use Neat & Tidy to instantly distinguish among the patents that are due for payment, those that cover inventions irrelevant, important, and critical to your company's business.
PatenTitle
Use PatenTitle to quickly learn about the quality of your ownership in each patents you are about to maintain. It is shocking to see how many companies maintain patents they don't really own.
It's too complex for an informed decision whether to maintain a patent to be made by one person. Use PatenTeam to deliberate and share the decision with all relevant stakeholders.
3-Click Annuity
Once you and your team have completed your review, you'll end up with a list of those assets you would like to maintain. Selected them, click Pay Maintenance Fee, click OK. Done!
Questions about how PatenTrack can fit into your business?
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For existing PatenTrack customers, please open a case.