Thomson Reuters Connected IP Payments Streamlines Patent Annuities and Trademark Renewals Process, Ensuring Investments Stay Protected

Real-time, web-based IP decision making tool lets intellectual property professionals monitor portfolio status anytime, anywhere, for maximum accuracy and efficiency

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Thomson Reuters

Sep 18, 2012, 11:47 ET

BINGHAM FARMS, Mich., Sept. 18, 2012 /PRNewswire/ -- The Intellectual Property & Science division of Thomson Reuters, the world's leading source of intelligent information for businesses and professionals, today announced significant enhancements to IP Payments, the industry's leading patent annuity and trademark renewal payment service, with the launch of its next generation online connected IP Payments portal. Docketing professionals and IP portfolio managers can now conveniently access extensive decision-making tools plus real-time IP payment information—such as due date, current status, budget details, and more to make the best informed maintenance decisions. Accurate, intuitive reporting further ensures the long-term value of their IP assets.

"Connected IP Payments offers us the ability to increase our productivity and ensure our hard work and innovation assets are well protected," said Rina Parmar, patent coordinator, Honeywell. "We can rest assured IP maintenance payments will never be missed."

Utilizing highly granular security and single-sign-on functionality, connected IP Payments redefines IP payment processes, giving docketing staff control to easily make quick decisions and provide last minute instructions.

Reporting Tools - robust configurable reporting tools enable users to create detailed budget forecasts for the life of the assets, as well as view payment history. Reporting is also available by official certificate status, jurisdiction, and internal case designations such as division, client or attorney.
Customization - real time payment information is available in print ready format. Users can browse and export data to Excel on an ad hoc basis for further analysis, review and customization.
Intuitive User Interface - a graphical dashboard provides a simplified view of IP payment decision status and helps drive workflow by allowing users to easily navigate through detailed payment information to locate pending decisions. Furthermore records can be grouped to align with internal work flow.

"We feel it's important to provide clients with as much information as possible to plan and budget for their IP expenses, make the right maintenance decisions, and still have the flexibility to make last-minute changes when circumstances arise," said Cynthia Murphy, senior vice president of Innovation & Asset Management, Thomson Reuters. "Our proprietary collection of IP Rules built into connected IP Payments, with over 20,000 calculations covering 400+ jurisdictions, is the best in the industry and our rigorous Lean Six Sigma approach to auditing patent annuity and trademark renewal data allows us to manage millions of IP assets worldwide."

Customers agree, connected IP Payments' easy online access offers many benefits while ensuring IP rights remain protected.

"Virtual accessibility anytime and anywhere, is essential in today's high paced work environment," said Gretchen Franck, senior intellectual property paralegal & docketing supervisor at Wood Herron & Evans LLP. "As a law firm specializing in IP rights and protection for many different clients, connected IP Payments provides us with the flexibility to manage user groups and permissions with secure access, to optimize maintenance decisions based on input from key stakeholders."

For more information on connected IP Payments visit: https://thomsonipmanagement.com

About Thomson IP Management Services
Businesses and law firms at the forefront of intellectual asset management partner with Thomson IP Management Services. From ideation through prosecution and commercialization, Thomson IP Management Services helps clients maximize the value of their portfolio, keep it aligned with their business strategy and drive global competitiveness. Their solutions integrate state-of-the-art portfolio management technology, comprehensive IP payment services, IP management consulting and a world-class IP rules collection to provide unparalleled support of clients' patents, trademarks, licenses and other intellectual assets.

About Thomson Reuters
Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial and risk, legal, tax and accounting, intellectual property and science and media markets, powered by the world's most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs approximately 60,000 people and operates in over 100 countries. For more information, go to www.thomsonreuters.com.

SOURCE Thomson Reuters