WHAT IS…

An IP Committee?

An IP Committee can create, influence and carry out actions or recommendations set out in the IP Strategy.

An IP Licence?

An IP licensing agreement occurs between an IP rights owner (licensor) and someone who is authorised to use the rights (licensee) in exchange for monetary value in the form of a fee or a royalty.

An IP Strategy?

Most companies have limited budgets for IP asset creation, so it is essential that they have a clear and easily understood IP strategy and understand the true costs, risks and benefits in the IP creation process – all of which are critical drivers of an IP strategy

IP Backed-Finance?

IP-backed finance is described as being a branch of intangible asset finance. The primary goal in this field of finance is to unlock the “hidden value” found in intangible IP assets.

Despite not being an area in which large data sets exist, successful IP-backed lending models do exist. In recent years, businesses of all sizes have been investing more in intangible assets and, in particular, IP more than in fixed or physical assets.

A Patent Troll?

A non-practicing entity (“NPE”) or patent troll, as it is sometimes pejoratively called, is an entity which enforces patent rights against alleged infringers in an attempt to collect licensing fees, but which does not manufacture products or supply services on the back of these patents. They frequently take out or buy generalised patents – often on widely available technology – and then demand money from companies who use or offer it. This “legalised extortion,” as some call it, also means that companies are spending more time and money defending themselves against these infringement lawsuits rather than using those resources for R&D and innovation.

Photo Credit: Roland O’Daniel