How Brandstock can help you in your IP outsourcing process
As an expert in IP management, Brandstock provides IP outsourcing solutions to organizations across numerous industries. This support is instrumental in allowing businesses to manage costs, maximise results and obtain expert knowledge that would otherwise be inaccessible to them. This enables organizations to adequately protect their IP and safeguard their assets for future growth. Here are a few ways Brandstock helps organizations protect their IP.
1. Legal services
Some businesses may be in early-stage growth where they don’t have the budget to commit to a full-time, in-house legal counsel. However, they still need legal support to protect their intellectual property. Working with external legal services can provide the flexibility and experience of on-demand legal support without the commitment of an in-house legal counsel.
Legal tasks require specialist tools, which can be prohibitively expensive for many businesses to acquire and maintain. In order to get maximum value from these tools, they need to be wielded by legal experts who have years of experience using them on a daily basis.
For instance, IP docketing systems are advanced tools that require a database of country-specific laws to determine the relevant due dates throughout the lifecycle of a trademark. A legal specialist is required to input the data in the tool and monitor it for the applicable due dates throughout the trademark application process. A missed due date could result in a lapsed trademark. Not only is the tool expensive, it requires advanced knowledge to use and constant monitoring to ensure an application is processed.
3. Process knowledge
In cases where online tools are provided freely, such as National IP Databases and Commercial Databases for trademark searching, the process of searching is not straightforward. If it’s not the core competency of a business or legal representative, it may consume much of their time and detract their attention from other important responsibilities. Brandstock delivers IP outsourcing services for these types of time-consuming activities, so your internal team can focus on their main activities and you can be rest assured that a specialist is handling your trademark searches.
4. Market knowledge
As a new market entrant, a business relies heavily on the speed that it can acquire local knowledge and insights. If this valuable knowledge isn’t readily available, costs can begin to rise and time can lapse, resulting in substantial risk. In a fast-moving and competitive global market, businesses are working against the clock. Brandstock can be the right partner for IP outsourcing to help a business get the quick foothold required to succeed in securing intellectual property in new markets.
While there are advantages to bringing legal services in house, IP outsourcing can provide the flexibility needed during times of growth. An external legal services provider will have the experienced specialists and tools ready for your use, so you can rapidly scale up or down as needed, providing complete flexibility. This provides the advantage of experienced specialists without the high costs of an in-house team for what could be a temporary project. If needed, Brandstock can also work with your team to provide the same experience you would have with an in-house team.
6. End-to-end solution
Protecting intellectual property can seem like an overwhelming and fragmented field for a business that doesn’t have a large legal team. The protections required for IP are difficult to understand and obtain; the costs can become exorbitant, if the processes aren’t handled correctly. An end-to-end solution can provide the peace of mind that your intellectual property is covered for a transparent cost that works for your budget.
Organizations have different needs based on their size and industry. With IP outsourcing, they can avail of a custom solution that includes one or more services, access to industry-leading tools and resources, market knowledge while having the advantage of scalability. For businesses that require flexibility or specialist knowledge without the high price tag of an in-house team, IP outsourcing is the best option to maximise results and control costs.