As legal technology transforms the industry, clinging to outdated methods is a recipe for stagnation. Recognizing what’s no longer effective is as critical as building on what works.
Here are five practices you need to stop doing immediately to streamline your processes, achieve better outcomes, and secure your position as a leader in IP law.
In The 2024 Chief Legal Officer Strategy Survey, CLOs cited difficulty in demonstrating the return on investment (ROI) for new initiatives as a key challenge.
By tracking metrics like unnecessary office actions or the cost-saving benefits of interviews and continuations, you can directly connect your prosecution strategies to improved IP value and reduced expenses. Data-driven reporting not only strengthens client relationships but also supports your bottom line.
Efficiency is everything in the modern law firm. Clients demand quality work but also expect cost-effective processes. For many firms, AI and automation are the answers. According to the 2024 Report on the State of the US Legal Market, a significant number of legal professionals expressed optimism about AI’s ability to enhance productivity and efficiency (with 45% saying this) and to free up time for higher-level tasks (38%).
AI-powered workflow automation not only saves time but also reduces the risk of human error and USPTO penalties. By automating routine work – like generating office action responses and IDSs – your team can focus on high-value activities that drive client satisfaction and firm profitability.
Navigating USPTO examiners remains one of the most intricate parts of patent prosecution. While experience is invaluable, it may not always provide the nuanced insights needed for a tough case.
Leverage examiner analytics to craft tailored strategies for each individual examiner. Tools like Juristat Analytics allow you to dive deep into data points like interview success rates, RCE outcomes, and historical allowance rates. Personalizing your approach based on this data can turn a challenging prosecution into a successful allowance, saving time and resources for you and your clients.
Every prosecution strategy should be backed by data, especially when deciding between an RCE, an appeal, or an interview. For example, if an examiner demonstrates a high success rate with interviews, that may be the optimal path forward.
Custom application alerts help you track these opportunities. With insights like an examiner's OA-to-allowance trends or interview win rates, you can make smarter decisions to limit costly and prolonged prosecution. Many of our clients have seen substantial time and cost savings by implementing data-driven strategies like these.
The USPTO offers several initiatives designed to streamline patent prosecution, yet many firms fail to utilize them effectively. Programs like Track One can significantly reduce timelines and improve outcomes.
Juristat’s analytics provide performance data on such programs, including allowance rates, time to disposition, and average office actions per application. Armed with this data, you can identify the best program to achieve your client’s goals while reducing unnecessary expenses and delays.
Don’t let outdated processes hold you back. Whether you’re looking to calculate ROI for clients and stakeholders, automate your workflow, or improve prosecution strategies with data-driven insights, Juristat has the tools to help. Schedule a quick demo today to explore your options.