The launch of the Markr software represents a significant step forward in intellectual property (IP) management for businesses. This innovative tool automates the complex process of virtual patent marking (VPM), ensuring compliance and enhancing litigation strategies. Companies can effectively record and publish patents online, safeguarding potential litigation outcomes. Virtual patent marking offers notable advantages over traditional methods, including cost and time savings.
- A new software tool, Markr, automates the intricate process of virtual patent marking.
- This innovation ensures companies comply with legal requirements and strengthens litigation strategies.
- The tool facilitates accurate online recording and publishing of patents, enhancing enforcement potential.
- Introduces notable efficiencies over traditional methods, including significant savings in time and costs.
- Widely supported by industry experts, Markr is poised to transform patent management practices.
In a landmark development for intellectual property management, Terrifio has introduced Markr, a groundbreaking software application designed to automate the meticulous process of virtual patent marking (VPM). Markr stands out by providing a litigation-ready audit trail, significantly expanding public access to patent data. Virtual patent marking, through Markr, transforms how companies record and publicise their patents, paralleling efficient enforcement and litigation readiness.
Markr empowers users to construct comprehensive databases of their pending and issued patents, linking each record to specific products. This database becomes the foundation for a fully populated VPM Notice Page, which can then be strategically shared via a VPM link on company websites. This system not only streamlines compliance but also optimises pre-litigation leverage, potentially improving litigation outcomes.
Once the database is established, companies can incorporate the VPM link on product labels and online information, achieving compliance changes seamlessly and economically. Regular updates to the VPM Notice Page, reflecting alterations in the patent portfolio or product line, are effortless. Markr’s flexibility enables real-time updates, aligning with new patent filings or predetermined schedules and ensuring continuous compliance.
Co-founder Jim Gastle highlights the tool’s potential, stating, “VPM can be a valuable addition to any patent attorney’s offering.” He anticipates adoption by SMEs and tech enterprises eager to bolster their notice protocols. Importantly, Markr’s early access programme introduces an opportunity to trial the tool without cost, laying the groundwork for robust VPM frameworks.
Gastle, an experienced Registered Patent Agent, underscores the importance of a VPM programme in safeguarding potential damages. Without such protocols, companies may inadvertently limit their damages to periods post-formal notification, risking substantial financial loss. In the absence of a VPM programme, firms may miss the financial benefits of damages that could date back by as much as six years.
Industry expert Grant Peters draws attention to the surprising lack of VPM utilisation, even among firms familiar with physical patent marking. Highlighting the ease and value of virtual patent marking, Peters asserts that effective software like Markr is crucial in aiding businesses to methodically build, maintain, and update their patent records.
Markr stands poised to redefine patent management, offering a strategic edge in compliance and litigation.
