Are you up for the patent sales

We all know that patents are a great source of monetization. Many businesses nowadays opt for patent sales in order to add capital gain and extra revenue stream to the existing business. Amidst the hustle of arranging patent sales, finding right buyers, valuations, mapping which IP assets to sell, there is a greater need to understand when a business is up for the IP auction or patent sales. The first question that strikes your mind is why not to license out instead of selling. While, it is understood that a business’s intangible assets in the form of technology patents can add substantial business revenues while being possessed and utilized in house. But there are times when the patents no longer seem to be streamlined or utilized within your current business goals and strategies. During this time, the additional responsibility of maintaining those patents in force and regularly auditing them can be a financial burden itself.

 Interestingly, those patents which aren’t streamlined with your core business strategies could be much needed by other businesses which are working around similar patented technologies. Such businesses could be your potential buyers. Apart from this if your business is seeking patent sales; there are other considerable factors like appropriate valuation of the patent portfolio. You have to estimate the correct worth of patents with regard to market and income based approaches. In this case, an alert and organized IP team can pave the way for success. Your IP team shall consist of a mix of technology professionals, IP strategists, core business experts and in house IP counsel. It is utmost important to let your IP teams plan regular IP audits of your existing IP portfolio to gauge which patents are in force, which patents are core to the business, evaluating patents, and estimating revenues from various licensing agreements. Such activities reflect an overall picture of the business’s IP portfolio which will further facilitate successful patent sales. At last to sum up, it is appropriate for businesses to consider the aforementioned points before embarking upon sales of IP assets. 

(Image courtesy link)

Finally the Compulsory License granted to Natco

The ever popular patent case that has been in the news for quite some time has finally taken a climax with the grant of Compulsory License to Hyderabad based Natco Pharma for the anticancer drug “Nexavar”. The original patent on Nexavar being held by Germany based Bayer Pharmaceuticals. This is India’s first ever granted Compulsory License. Decision details can be accessed here. 

( Image courtesy Link)

Do you put the cart before the horse?

 

I know our readers must be brainstorming as on what I have to do with the horses and the cart. Interestingly, sometimes this adage holds true for many over zealous entrepreneurs and inventors. It is well understood that competition in the technology market is rampant. There are times when the race to the patent office is the only thing engrossed in the minds of budding entrepreneurs. And why not when we have a “first to file” system on the records, we are in a major rush! Amidst this massive rush of filing multiple patent applications and building your patent portfolio, many inventors assign least priority to the most important piece of information. You guessed it right: it’s the ever important “Prior Art”. For some, prior art just constitute giving a couple of hours scan on the existing patent databases and kudos if you don’t have a similar patent on the records. You begin filing your application!

Is it a right methodology, well absolutely no. You definitely cannot put the cart before the horses and repent in the end. An insightful Prior Art report with the maximum emphasis laid on similar existing technology patents, gives you a lucid idea on the areas to work upon. A well researched Prior Art also assists you in finding the patent whitespace areas worthy of innovation. These untapped areas could serve as the probable grounds for innovation where businesses can streamline their IP strategies efficiently. As an IP strategist, my emphasis lies in working sequentially yet smartly. Entrepreneurs should put thorough efforts and gain complete insights of the existing prior art before filing their patent applications. This will save you loads of time later when you devote your efforts in formulating business strategies rather than answering multiple office actions on accounts of existing prior arts. On a positive note, I hope now you won’t put your cart before the horse! 

(Image courtesy link)

WIPO green: A technology marketplace

We have been reading a lot about green technologies and inventors filing patents under green technology areas. Interestingly WIPO has taken the initiative and launched “WIPO Green”, a technology marketplace for green technologies. The prime objective of launching this interesting portal is to accelerate the adoption of “green” technologies amongst the emerging economies and developing countries. WIPO green benefits highlight Transparency and access to technology, technical assistance, licensing and financial support. It adds Enhanced reputation in terms of opportunities to enter new markets and assigns Credibility, trustable entry through WIPO and other intergovernmental and non-governmental organizations. An excerpt from the web portal states:

“ …WIPO will act as a Secretariat for the platform and promote the sharing of information on available green technologies for transfer through the creation, development and operations of a database…”

WIPO green provides a global and comprehensive database of environmentally sound technologies. It offers a sustainable technology marketplace where inventors can showcase green technologies for sale, licensing and technology transfers. It provides a hub for networking and connecting people working on similar technology platforms which will highly contribute to stimulate innovation and encourage policy dialogue amongst members and interested parties. Individuals and organizations working on green technologies can avail this benefit by registering with WIPO green. All in all, I hope these green initiatives will make an impact and contribute to a safer and greener planet!

( Image courtesy link )

List of INNs released by Trademark office

International Nonproprietary Names ( INN) list has been released by the Trademark Registry of India. The list includes Non-Proprietary names of the Pharmaceutical substances along with the WHO publication reference. For our readers information, INNs are the generic names assigned to pharmaceutical substances by World Health Organization. INNs have worldwide acceptability and it is far easier to identify the pharmaceutical substances or ingredients based on such names. Since, these names are in public domain, and are non- proprietary, trademarks cannot be derived from them nor do they contain common stems used in INNs.The complete list could be accessed here .

(Image courtesy link)

AIPLA Webinar 2012

For the readers who are inclined to learn about the strategic and business aspect of Intellectual Property, here is the opportunity for you. Following the AIA ( America Invents Act) effects on valuation, licensing and acquisition, AIPLA brings you a webinar on February 15, 2012. Registration details could be accessed here.

( Image courtesy here)

Selling patent portfolio: A ray of hope

There has been a recent buzz about Kodak’s patent portfolio sale. After filing bankruptcy yesterday, Kodak – a Rochester based company, aims at selling and licensing its patent portfolio with a whopping 1,100 digital imaging patents. Valuation experts estimate the portfolio worth $2.6 billion. While companies are striving for maintaining cash flows and operating profits, there are chances when you lose priority of your existing patent portfolio. Interestingly, in case of Kodak (which reportedly registered the first trademark in 1888), the robust digital imaging patent portfolio has been a large asset to the company. 

Kodak, already filed lawsuits against Apple and RIM in 2010 for infringing upon their digital imaging technology patents. The emerging assessment is the fact that it is highly essential for businesses worldwide to drive maximum advantage of their IP portfolio.You can  monetize by selling, licensing, cross- licensing, franchising your IP assets depending on your business requirements and global reach. Looking at the case of Kodak’s bankruptcy, the sale or licensing of a well structured, robust patent portfolio is proving to be a ray of hope. This is definitely a survival strategy and patent portfolio has imparted maximum contribution here. We hope, from now onwards, fellow entrepreneurs and businesses start taking their IP portfolio more seriously!

( Image courtesy link )