Data Accuracy is of utmost importance in the arena of patenting and innovation; a single error can make or break your overall goal as regulatory offices like the USPTO and WIPO are very sensitive when it comes to handling patent related data and information. Thus it is important for applicants and other stakeholders to ensure that the captured data is current, accurate, and at par with the regulatory norms of the intended jurisdiction. Data Validation
With the emergence of outsourcing and KPOs (Knowledge Process Outsourcing Firms) patent data validation has become an easy process that can be achieved without compromising the accuracy and integrity of patent related data and that too without even making your hands dirty on it, because patent data validation companies are there to help you all along the way.
While many applicants are reluctant of validating their patent related data it could be a costly affair as a miniscule error can cause rejection, which is something you are not comfortable with. Thus, it is better to play safe even before you think of submitting your application to the respective patent office or entering into a merger or licensing. This article outlines some of the reasons as to why do we need to do data validation for patent documents in advance.
Advantages of doing data validation for patent documents
Validating the authenticity of a deal- Merger, acquisitions, and patent sales are common to the world of patenting and innovations. It is imperative therefore to validate data for patent assets during merger and acquisition or patent sale which includes the change of ownership details and history. A minuscule error can put your goal in jeopardy.
Protecting critical assets- In the world of patenting and innovations, data is the critical asset and it should be protected. With an integrated Data Validation process, you protect your critical assets and thus you can make informed decisions about your valuable IPs. No matter whether you intend to file a patent application, willing to buy or sell a patent, or entering into a merger, it is important to gather data that can describe the intended patent in detail and that too with full accuracy. Patent data validation is one of such means that can ensure the same.
Jurisdiction wise review- An integrated and full patent data validation process enables searcher review against the most current data across all major jurisdictions. This is an important aspect in the world of patenting and innovations because if you are not prepared that way it may hamper your overall goal.
Validating important bibliographic fields – full and complete patent data verification or patent data validation process enables the searcher to validate the bibliographic fields that are very critical for accurate annuity payments and office action related works.
Complete comparison- A full and complete data validation process enables searchers to compare patent bibliographic data to the industry’s broadest consolidated IP dataset that may help them determine the accuracy of the same and make informed decisions about their businesses.