Positive Purchasing, the specialist procurement and negotiation training and consultancy business, has announced a collaboration with patent renewal experts Patent Annuity Costs Ltd (www.pacipr.com) to launch a new program called PatentPlus.
Patent owners recognise the critical importance of a well-maintained patent portfolio to an organisation’s future prosperity. Keen to avoid the risk of allowing a patent to lapse, they will often pay the highly-specialised supply base significantly more than necessary for annual renewals (or annuities).
However, for companies with a large portfolio and a high patent spend, the right intervention, such as the PatentPlus program, can typically deliver a cost reduction of more than 20%. This could potentially return millions of dollars to a company’s bottom line without compromising IP protection.
PatentPlus is a high impact, results-based program which can deliver immediate and significant cost savings, and increase category spend value, at no risk to the client’s business. The program is split into two phases: Diagnostic and Delivery.
During Phase 1, Diagnostic, the PatentPlus team of legal and procurement experts will review an organisation’s existing patent renewal spend with suppliers, analyse and report on opportunities identified for cost reduction and improvements in patent renewal management. A best practice training workshop will also equip company teams to better manage these suppliers moving forward.
For clients choosing to proceed to Phase 2, Delivery, the PatentPlus team will support implementation of these benefits into the client organisation and, where appropriate, establish new contracts with the client’s providers.
Jonathan O’Brien, CEO of Positive Purchasing, said:
“We’re delighted to be joining forces with Patent Annuity Costs, headed up by IP expert Peter Rouse, to launch the new PatentPlus program.
“By combining our globally recognised best practice procurement category management and negotiation capabilities with proven patent market and cost analysis expertise from Patent Annuity Costs, we have jointly created a winning solution with an exceptional return on investment for companies looking to manage their patent portfolios more effectively.
“Using a two-phased approach enables clients to choose the depth of support required to help them lower patent annuity costs and increase category spend value. The program is designed to equip teams with an understanding of how suppliers gain the advantage when it comes to patent renewal. It also provides key tools to better manage suppliers and spend, as well as developing a plan for the future.”
For more information, contact us or download the product infosheet.
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