Unlocking Intellectual Property (IP) value
The greatest challenge of innovation is not obtaining a global patent, but to unlock the value thereof. IP portfolios are expensive to maintain. Unless the value can be extracted, it remains an expense item.
Ensuring the right person at a multi-national company seriously considers your innovation is extremely difficult. It requires accessing target clients at strategic level.
With Open Innovation rapidly gaining momentum, technology scouts are swamped by unsolicited technology offerings. Receiving a technology profile from a credible source ensures these scouts take a technology seriously – knowing that the technology has been screened already.
Open Innovation
Large corporations globally realise it is very cost effective to license-in new technology that was developed and patented by someone else.
It allows a shorter time-to-market period, and reduces the risk of spending R&D funds on projects that does not result in strong patents.
Such technology licensing is often done for a specific application, geographic area, or globally when dealing with multi-national clients.
Technology scouts of these corporations will scan the globe for new relevant technology.
Some corporations also advertise their technology needs, or unsolved problems they experience. Inventors are invited to respond to these requests and license suitable solutions to these corporations. This creates great opportunities for research institutions, small businesses and even private inventors to do business with large multi-national corporations.
Open Innovation is here to stay, and innovation will become more competitive. Being able to promote IP effectively will become the greatest challenge of IP owners.
About Yet2.com
Yet2.com Inc. and its online marketplace were founded in 1999 to promote technology licensing and transfer
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