Monitoring patents with an excel spreadsheet

Spoiler alert 1: You’d do better using a software like PATOffice

Spoiler alert 2: Even though we would like to show you a detailed article about the disadvantages of monitoring patents with excel spreadsheets here, we have a goodie for you today if you still want to use excel as your go-to-tool.

We have worked on an easy-to-use free excel template for your patent monitoring with an excel spreadsheet. You will find the download here.

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Let's get started!

Many companies, even those with extensive patent portfolios, have been found to rely on spreadsheets to manage their intellectual property. Although this may seem surprising, it is a common practice that has its own set of problems. For example, spreadsheets can be cumbersome to navigate and update, which can lead to inefficiencies and frustration. As companies grow and expand their intellectual property portfolios, the limitations of spreadsheets become even more apparent. In order to streamline their IP management and avoid costly mistakes, many companies are turning to specialized software solutions that provide more robust features and greater flexibility.

We will give you an overview on why software solutions do not only cost money but rather save you time, energy, resources and at the same time boost your level of innovation and efficiency on the go.

1. Excel spreadsheets need a lot manual work
2. Spreadsheets do not meet the modern users’ needs
3. Categorizing patents needs lots of time, thoughts and manual steps.
4. Human errors are more common in manual excel spreadsheets
5. Excel cannot be integrated with other tools - normally
6. Collaboration and simple project management tasks, like deadlines or status changes, cannot be taken care of

1. Excel spreadsheets need a lot manual work

While an Excel spreadsheet may be useful for storing data, it is not a substitute for a database, especially for in-house lawyers who need to keep information current. If you are managing a large patent portfolio with thousands of patents, manually updating the spreadsheet can be time-consuming. When there are changes to claims or patent ownership, the only way to keep the spreadsheet up to date is to make the changes manually. If you are monitoring competitors' patents using spreadsheets, you must access e.g. the ESPACEnet, download your wished data and manually copy all the necessary data to your spreadsheet. This process can be tedious and will for sure reduce productivity.

To ensure optimum efficiency and accuracy, in-house counsel should employ advanced software tools that are specifically designed to automatically extract, store, and update patents from databases. These tools will help you to streamline your workflow and enable you to focus more on your core legal responsibilities. One such tool is our software PATOffice. It is an innovative software that has been proven to deliver the needed results. With PATOffice, you get all the information you need directly from the relevant patent databases, which eliminates the time-consuming task of updating your spreadsheets manually. This sophisticated tool enhances your visibility and provides you with valuable insights into your patent portfolio. Additionally, it sends you alerts in real-time about any changes in your competitors' or any tracked portfolios. Therefore, using PATOffice will give you a competitive advantage and help you to stay ahead of the game in the ever-evolving world of patent activities and therefore technology developments.

2. Spreadsheets do not meet the modern users’ needs

Spreadsheets are a commonly used tool to organize and share data. However, for larger files such as a company's patent portfolio, sharing via email may not be the most practical option. Not only can large files be difficult to send, but tracking changes within different versions of the spreadsheets can be a challenge.

In this case, alternative methods of sharing and collaboration may be more suitable. One option is to use a cloud-based platform that allows for real-time collaboration and sharing of large files. This way, team members can work on the same document simultaneously and see changes in real time, without the need for multiple versions of the same file.

Another option is to break the file into smaller, more manageable pieces and share them individually. However, this can still pose challenges with tracking changes and ensuring that all team members are working with the most up-to-date version of the file.

Ultimately, the best approach will depend on the specific needs of the team and the type of data being shared. By considering the pros and cons of different sharing methods, teams can choose the most effective way to collaborate on their spreadsheets and other important documents.

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A centralised patent intelligence software allows multiple users to access up-to-date patent documents without interfering with each other's data, which is highly convenient and efficient for collaborative work. With PATOffice, this is made even easier as colleagues can share the same platform and see each other's changes. comments, rating and proposed actions. This cuts down on duplicated effort and streamlines the patent research and monitoring process.Furthermore, the software's user-friendly interface makes it easy for individuals with varying levels of technical expertise to navigate and use the platform. This means that even those who are not necessarily patent experts can still contribute effectively to the research and analysis process.

3. Categorizing patents needs lots of time, human thoughts and manual steps.

Law firms usually send huge spreadsheets with instructions to in-house lawyers. However, these spreadsheets often contain thousands of uncategorised patents, making it tedious to filter through them.

On the other hand, some law firms have started using advanced software that automates the process of categorising patents, making it easier for in-house lawyers to identify the most relevant patents for their company. This software can also identify potential infringement issues, alerting the in-house lawyers to potential legal risks.

Moreover, some law firms have begun to offer training sessions to in-house lawyers on how to use software to its full potential. These sessions cover topics such as how to search for relevant patents, how to filter through the results, and how to export the data to a more manageable format.

This approach has proven to be beneficial for both the law firms and their clients. The clients receive relevant and reliable legal advice, while the law firms can provide their services more efficiently and effectively. As a result, more and more law firms are expected to adopt this approach in the future.

Using a patent intelligence tool, such as PATOffice, can greatly enhance your patent data management processes. With PATOffice, you automatically get the data from your spreadsheet into the user-friendly software dashboard and easily categorize patents based on your defined categories. This eliminates the need for you to spend countless hours learning and using complex Excel codes, allowing you to shift your focus to more value-adding activities.

PATOffice’s user-friendly interface offers a seamless and intuitive experience, enabling you to quickly categorize all relevant pieces of information and save them in your workspaces. For instance, you can create a comprehensive list of patents that belong to one specific technology field, using just a few clicks. You get to set the criteria you want, and the platform takes care of the rest.

With PATOffice, you can streamline your patent monitoring process and invest more time and resources into extracting value from your patent portfolio. This enables you to stay ahead of the competition and achieve your business objectives with greater ease and efficiency.

4. Human errors are more common in manual excel spreadsheets

Data accuracy is of utmost importance when conducting any analysis. Not only does it allow for the proper assessment of information, but it also ensures that the final results are reliable and trustworthy.

In order to achieve this, IP intelligence software has developed state-of-the-art machine learning algorithms and automation processes that can help eliminate the potential for human error.

This not only saves time, but also increases the accuracy of the data. With the use of automated processes, data can be collected, analyzed and presented without the need for manual intervention, thus reducing the risk of errors that could invalidate the entire project. The adoption of these advanced technologies is essential in ensuring that data analysis is accurate and reliable.

5. Excel cannot be integrated with other tools - normally

Many businesses struggle with managing their portfolio due to the inconsistent approach they take. Some use spreadsheets, while others use various tools altogether, e.g. excel, PDF, outlook, word etc.

However, this hybrid approach often leads to data being spread across multiple systems, which makes creating reports and conducting analyses a never-ending ordeal, especially for those with large patent portfolios.

Despite its usefulness in collecting certain data sets, the exportation of different data sets from different tools and merging them into a report can be a tedious process, particularly when analyzing multidimensional data sets, such as technology trends. As such, businesses should consider adopting a more uniform approach to managing their portfolio in order to streamline their data and create more comprehensive and efficient reports and analyses.

A solution like PATOffice can serve as an all-in-one solution for monitoring patents, as it automatically loads new relevant patents into your individual database, either automatically categorizes and scores them, or you can also do these steps manually, and also lets you collaborate and analyze the given patent data.

Also we are still working on further integrations and simplifying processes. Stay tuned.

6. Collaboration and simple project management tasks, like deadlines or status changes, cannot be taken care of

When a patent attorney and engineer are working on a project, they may use spreadsheets to collaborate on specific tasks. However, while spreadsheets are useful, they can compromise your ability to identify bottlenecks. To address this issue, it’s important to have a system that allows multiple employees to manage work and track projects, which can ultimately make portfolio management more efficient.

One solution is to use PATOffice,our cloudbased software tool that allows you to leave comments or instructions in online workspaces. This way, you can easily notify colleagues about which patents require attention and the specific steps that need to be taken. Additionally, you could create separate workspaces for each technology field specializing in patents relating to a particular industry area. By doing so, you can simplify task allocation and progress tracking, thereby improving overall efficiency and productivity.

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You may be thinking that using spreadsheets is a good idea because it's free. While it's true that spreadsheets don't cost any money, they do come at a cost. By using spreadsheets, you might be missing out on opportunities that could have been realized with more advanced tools. Additionally, spreadsheets are prone to errors, which can be costly to contest.

However, the cost of using spreadsheets isn't just limited to missed opportunities and contestable errors. It also has a more intangible cost that can't be measured in monetary terms. That cost is time - the one thing you can't save, buy back, or defend in court. By using spreadsheets, you might be wasting valuable time that could be spent on more productive activities. So, while spreadsheets might be free, they come at a cost that you might not be able to afford.

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As mentioned at the top of this article we however still thought of you and your wishes to keep monitoring patents with a basic excel sheet.

And in order to start off right, we have compiled a nice excel template.

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‍Here you may enter the download section.

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In case you have questions, feedback or further ideas to make this template work even better, please let us know. Our main focus is to improve our services.

Thanks a lot in advance!!!