Questel on Monitoring All Patents Relevant to the Business
- Why should counsel monitor IP databases? To avoid infringing patents or to identify gaps to exploit?
The first basic need is to avoid infringing a patent. A scientist with an idea should check with the legal department that the idea is not already patented. Otherwise, the company might get sued for infringement. Reversely, the IP Counsel should also make sure that no one is infringing the companys assets, as their IP is key to their success. There are many patents and their wording can be blurry. Online IP search services, such as Orbit.com, can be useful for IP Counsel to find and watch all the patents relevant to their business.
- What are your criteria for valuating patents?
We cannot give a dollar value of a patent, but we can classify them based on certain rules, which is a first step toward valuation. How many years remain on the maintenance? How extended is the patent? How often is the patent cited? We have several such criteria that our users can customise to build their own evaluation scale, put together relevant patent clusters and view them on a map.
- With budgets tighter than before, how could IP Counsel ensure assets are not compromised as a result of budget cuts?
Patents are very expensive to get, maintain and defend. There are alternatives to patenting, such as defensive publication. For a very low cost, anybody can get a prior art on an idea by publishing disclosures. They will not be able to get a patent on the idea later on, but at least no one will be able to patent it. This can be an efficient IP strategy in areas where technology is evolving rapidly. It can also be interesting to cleverly publish "around" a patent you already have to reinforce its protection at a low cost. Maintenance is another issue. A majority of patents do not have any product behind them and will never have. Nor will they be licensed and probably too many patents are maintained year after year for no reason. If IP Counsel had tools to valuate patents, they could decide whether they were worth maintaining or not. As patents can be maintained for 20 years, deciding to stop maintaining patents at the very right time would save a company millions of dollars. We believe that the next challenge in the area of patent is valuation and we are investing heavily in this direction.
About the IP Law European Summit 2012
This unique forum will take place at the Grand Hotel Huis Ter Duin, Noordwijk aan Zee, The Netherlands, 7 - 9 October 2012. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The Summit includes presentations on managing, valuing and monetising the organisations intellectual property assets. For more information please send an email to firstname.lastname@example.org or visit the event website at www.iplawsummiteurope.com.
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Questel has been focusing on its core business, Intellectual Property since its inception in the early 70s. Known for the largest databases collections in the world, we also offer a wide array of tools for searching, mapping, watching, archiving and sharing information, as well as analyzing and managing IP portfolios. All our services are available from our portal Orbit.com. www.questel.com.
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Aug 9, 2012
Source: marcus evans Summits
Topic: Research / Industry Report
Sectors: Financial General, Business General
From the Asia Corporate News Network