Many private organisations now place a high focus on protecting and managing intellectual property, particularly in fields like the arts, culture, and technology. Enterprises can better comprehend the potential of intellectual property as a driver of economic development and cultural and social advancement with the aid of effective and equitable intellectual property software. The development of the digital society is greatly aided by the intellectual property system. It is essential to handle issues with security, privacy, customer protection, and intellectual property in order to advance the digital economy.
The market for Intellectual Property Software is anticipated to reach US$ 3,015.2 Mn in value in 2019 and is projected to expand at a CAGR of 14.3% from 2019 to 27.
Major Players in the Intellectual Property Software Industry:
1. XLPAT: Created in 2012. Headquarters in the United States, in Washington, DC. A platform for automated patent search solutions is Xlpat labs. Users can control online collaboration and distribute patent data to numerous stakeholders or clients. It offers a service that lets customers look up patent information in a database. Additionally, it provides a tool for visualising the patent landscape that aids in the creation of reports, snapshots, and overviews of market and industry trends, as well as competitive insights. The most recent Annual General Meeting (AGM) of Xlscout Xlpat Private Limited took place on November 30, 2021, and it’s most recent balance statement was submitted on March 31, 2021, according to MCA data.
2. Wellspring Worldwide: Established in 2003. Headquarters in the United States. Creator of a platform for managing businesses with the goal of easing corporate licencing and venturing activities. With customizable workflows, automated docketing processes, and automatic calculations for contract obligations, the company's software manages everything from disclosures to docketing, financials to contract compliance in one system, enabling clients to build a scalable innovation programme regardless of project portfolio or geographic footprint. IP Pragmatics is acquired by Resurgens' Wellspring to provide end-to-end tech transfer and IP management solutions.
3. VajraSoft Inc.: Established in 2011. United States headquarters. Owner of a business that sells software for managing intellectual property so that clients can profit from their creations. The business's cloud-based intellectual property management software provides an application suite, a system for managing patent portfolios, a patent cost estimator, monetizing intellectual property, and analytics, allowing organisations to concentrate on their other core business functions.
4. Anaqua, Inc.: Established in 1994. French headquarters. Provider of maintenance services for intellectual property. Organisations can maintain a patent, trademark, or design portfolio by utilising the company's intellectual property maintenance services. It bases its business model on offering maintenance services for patents and trademarks. In 2022, Anaqua—the top provider of innovation and intellectual property (IP) management technologies—announced that it had reached a binding deal to buy Practise Insight Pty Ltd. from IPH Limited, along with WiseTime, the company's intelligent time-tracking software.
5. Clarivate Analytics: Founded in 1863. Headquarters in Jersey, Great Britain. Information, analytics, and workflow solutions are offered by Clarivate PLC. Academia and government, life sciences and healthcare, and intellectual property make up its three operating segments. The government and academic markets are where the corporation makes the most money. The Academia and Government product group, which is part of the A&G segment, promotes research excellence across institutions, equips researchers to address contemporary global challenges, and aids academic institutions and libraries in enhancing operational effectiveness. Geographically, the Americas account for the lion's share of its revenue. Decision Resources Group (Jan 2020), Darts-ip (Dec 2019), and Sequencebase (Sept 2019) are the most recent acquisitions.
6. Questel: Established in 1978. Headquarters in France, in Paris. Creator of innovation management software whose goal is to support users throughout the IP lifetime. The company's software portfolio includes business-focused dashboards, idea collaboration and management platforms, customers and community co-creation software, startup deal flow and programme management systems, allowing clients to enhance innovation and development in an effective, secure, and long-lasting manner. In 2022, Questel announces the acquisition of doeLEGAL, a UK-based provider of enterprise legal management software.
7. PatSnap Pte. Ltd.: Established in 2007. Located in England, in the United Kingdom. Founder of a database and analytics platform that may be used to classify patents, evaluate new business prospects, and analyse technological trends. Innovation leaders can quickly search for patents thanks to the company's platform, which uses its own artificial intelligence and big data technology to categorise patents and help move innovations from conception to commercialization. In 2022, PatSnap—a pioneer in innovation intelligence—announced that it had raised $300 million in Series E funding.
*Definition: Software intellectual property, also known as software IP, is a computer code or program that is protected by law against copying, theft, or other use that is not permitted by the owner.
