FORT GRATIOT, Mich., June 18, 2014 /PRNewswire-iReach/ -- Leading corporate patent counsel from the United States, Asia and Europe met in Michigan on June 1-3, 2014 to share perspectives regarding the rising costs of international patent prosecution. Hosted by ITIP ProFiciency, LLC ("ITIP"), the leader in IP cost management for Fortune® Global 500 corporations, the unique forum featured panelists from some of the largest corporate patent departments in the United States and was attended by two of the top five patent filers in Japan.
Representatives from the United States Patent and Trademark Office and Hyperion Global Partners shared their perspectives of the industry as well, providing a glimpse into the future trends and initiatives being put in place to streamline and reduce the costs of international patent prosecution. Working sessions included a series of panel discussions led by executives from ITIP clients on a variety of topics including Demystifying the European Grant & Validation Process, Using PPH to Reduce International Prosecution Costs and Corporate Best Practices in IP Cost Management.
"Budgets and controlling costs are important focus areas for corporate law departments," noted Ralph Schroeder, Managing Director of Hyperion Research. "The high volume of international IP work lends itself to taking a more proactive and structured approach to managing costs. Generally law departments have not been well-equipped to consistently or comprehensively review their IP spend. The ITIP suite of solutions offers a compelling value proposition for IP owners."
"Years of IP invoice analysis reveals amazing insight into the inefficiency of IP agent services," says Tom Quinn, CEO and founder of ITIP. "Since 2005, ITIP's team of experts and proprietary systems have analyzed agent invoices for many of the world's largest and most sophisticated IP departments. Providing a forum for ITIP to share the results of this analysis and for industry leaders to share best practices in IP cost management created a unique learning environment that has been nonexistent in our industry."
Further information on why Fortune® Global 500 corporations consider ITIP to be the next generation in IP cost management can be found at www.itip.com.
About ITIP ProFiciency, LLC
ITIP has a proprietary service model relied upon by Fortune® Global 500 corporations in North America, Asia and Europe for global patent filing and IP cost management. ITIP reliably manages inefficient and expensive IP services, such as international patent filings, and audits and benchmarks the professional fees of your outside counsel to ensure savings are captured.
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