ALEXANDRIA, Va., May 3, 2016 /PRNewswire/ -- The Intellectual Property & Science business of Thomson Reuters today announced the launch of a new service offering called Virtual IP Office (VIPO) to address the growing demand for legal process outsourcing.
VIPO makes dedicated technical and administrative Thomson Reuters' IP specialists available to in-house and outside counsel, at a fraction of the cost of full-time professionals, to augment patent preparation and prosecution, due diligence and IP administration efforts. Depending on the volume of filings, clients can extract savings of 40 to 60 percent, with $500,000 USD a reasonable target for organizations with as few as 100 annual filings.
- Process & Operational Review: VIPO will assess, align, and define the requirements for an organization's processes, technology and people.
- Operational Efficiency & Quality Control: VIPO utilizes Six Sigma best practices and quality control, resulting efficiency gains, standardization, and better processes, to limit organizational volatility.
- Information Security & Systems Resilience: VIPO implements unsurpassed physical and network security.
- IP Knowledge & Industry Experience: VIPO experts include former patent agent and USPTO examiners, in-house patent counsels, engineers and scientists with deep legal, technical and functional expertise ranging from patenting strategy, patent portfolio management, licensing and technology transfer, and R&D and legal industry experience.
- Industry Leading IP Technology, Data & Tools: VIPO boasts access to world-leading IP data and tools, including Thomson Innovation, the Derwent World Patents Index, Thomson Data Analyzer, and the collection of Thomson Reuters financial and legal databases as needed to ensure IP searches are exhaustive, and meet or surpass industry standards.
"An ironclad IP strategy is essential to competing in the modern global economy, but many companies can no longer afford the cost associated with bringing on full-time employees to protect against risk of costly patent or trademark litigation," said Stuart Recher, vice president of IP Services at Thomson Reuters. "With VIPO our partners can rest assured that comprehensive playbooks are being followed for every project, every time. From patent preparation and prosecution, to docketing support and claims analysis, the solution allows companies to realize significant cost savings, while ensuring access to high caliber IP talent pools across a wide technology domain, and the most complete data and tools in the world"
For more information on VIPO, visit http://ipscience.tr.com/vipo
Thomson Reuters is the world's leading source of news and information for professional markets. Our customers rely on us to deliver the intelligence, technology and expertise they need to find trusted answers. The business has operated in more than 100 countries for more than 100 years. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges (symbol: TRI). For more information, visit www.thomsonreuters.com.
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SOURCE Thomson Reuters