We often see firms concentrating on trendspotting the latest business fads and replicating popular innovations. Amidst this it is equally crucial to eye on spotting the latest intellectual property trends. “Licensing Out“ the patented technology is one such trend that has been there for quite some time. Building a fruitful licensing program shall fall into the “to do’s” list of all technology oriented firms. Regular check on updates, review and assessment of agreements, terms and conditions can shape up a licensing program to ensure better revenues and capture the essence of inherent Intellectual Property value of the assets.
Another popular course is the IP portfolio sale. In the recent times , patent sales have been one such phenomenon that garnered the headlines. Whether it’s Kodak’s Digital Imaging patents sale, Nortel’s telecommunication patent portfolio sale or Motorola Mobility’s mobile and wireless patents sale, all these firms have managed to generate appreciable revenues from their underlying IP assets.
Patent Pooling is another such IP trend where companies agree to cross-license their patents in a consortium called patent pool. The prime vantage is the fact that you stop counter suing each other! On a more serious note, Patent pooling is one potent IP strategy in today’s competitive technology scenario where patents tend to have overlapping and interconnected patent claims. Expensive litigation and costly follow ups can strain the financial backbone of many firms. Patent pools, thus offer a strategic solution in the light of abovementioned issues.
IP Mortgaging is another strategy on the block. Patentees may use their patents, trademarks and designs as a security or collateral for potential loans. Thus, maximizing the benefits of their inherent IP assets. Trendspotting not only cast insights on the current IP practices but also lay foundation of a strong IP program for your organization. We hope the current intellectual property trends continue to foster innovation, security and most importantly the growth of IP assets.
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