Cision PR Newswire
CMS and IPDefine Announce Global Patent Monetisation Initiative
News provided byIPDefine Ltd.
Nov 20, 2023, 11:42 PM ET
TOKYO, Nov. 20, 2023 /PRNewswire/ -- International law firm CMS, in collaboration with patent AI specialist IPDefine Ltd., have developed a cutting-edge turnkey solution which is poised to make intellectual property monetisation more accessible than ever before. Introducing CMS Umbra.
By combining IPDefine's industry-first AI innovation with CMS's legal and commercial expertise, CMS Umbra enables businesses to evaluate, optimise and monetise their patent portfolios at an unprecedented level of speed and low cost.
Unleashing the True Potential of IP
Intellectual property should be enforced with the same level of vigour with which it is protected. When managed effectively, patents can be a significant profit driver for a business, either through technology exclusivity or through licence royalties. However, the reality is that many intellectual property registrations sit idle and never see an opportunity to generate revenue.
Toby Sears, IP Partner at CMS, comments: "Patents should actively contribute to business success. We see far too many businesses sitting on their patents portfolios without a clear strategy for management. CMS Umbra has been developed to apply the power of AI to this process, allowing businesses to manage and derive value from their patent portfolios with ease. We arm businesses with a transparent view of both risks and opportunities, enabling more informed, strategic decisions about their IP portfolio."
Risks of Improperly Managed Intellectual Property
According to the World Intellectual Property Organization (WIPO), there are approximately 16 million granted patents in existence around the world. Most patents are registered and held for defensive purposes; but a strategy that focuses exclusively on defence will inevitably miss the opportunity to realise the large profits that patents have the potential to generate.
Emphasising the critical need for businesses to recognise the varied risks associated with insufficient patent portfolio management, Joel Vertes, IP Partner at CMS, says: "These risks range from reputational damage stemming from counterfeit products to unnecessary management and maintenance costs, decreased profits and a loss of security and safety for customers. With CMS Umbra, we provide a rapid, data-filtering and analysis solution that addresses and overcomes cost and complexity concerns."
From Cost Center to Profit Leader
Registering and maintaining IP is expensive—but it doesn't have to be. By switching the focus from maintenance to monetisation, businesses can transform their patent portfolio from a cost centre to a profit leader.
IPDefine CEO Aaron Mollin comments: "CMS Umbra is a powerful tool, which can give businesses access to accurate valuation and crucial strategic insight on their patent portfolios. IPDefine's industry-first infringement discovery technology rapidly scours every corner of the internet to identify infringers, providing businesses with oversight of new licensing and litigation targets. By working with the team at CMS, businesses can expertly identify and leverage infringement, ensuring the value of their portfolio is maximised."
To find out more about CMS Umbra, please visit: Patent commercialisation | CMS Umbra | Data Driven Disputes
For further information, please contact:
Laura Swartz, Communications
T: +44 20 7367 2303
About CMS Umbra
CMS Umbra combines CMS's legal and commercial expertise with IPDefine's industry-first AI to enable businesses to visualise, optimise and monetise their patent portfolios at an unprecedented level of speed and low cost.
For more information, please visit: Patent commercialisation | CMS Umbra | Data Driven Disputes
Founded in 1999, CMS is an integrated, multi-jurisdictional organisation of law firms that offers full-service legal and tax advice. With 79 offices in over 40 countries across the world and more than 5,000 lawyers, CMS has long-standing expertise both in advising in its local jurisdictions and across borders. From major multinationals and mid-caps to enterprising start-ups, CMS provides the technical rigour, strategic excellence and long-term partnership to keep each client ahead in its chosen markets.
The CMS member firms provide a wide range of expertise across 19 practice areas and sectors, including Corporate / M&A, Energy & Climate Change, Funds, Life Sciences & Healthcare, TMC, Tax, Banking & Finance, Commercial, Antitrust, Competition & Trade, Dispute Resolution, Employment & Pensions, Intellectual Property and Real Estate.
For more information, please visit www.cms.law
Founded in 2020, IPDefine is a Tokyo-based AI startup, with offices in New York, which provides global, large-scale patent infringement discovery and patent validity analysis solutions, and supports a wide range of clients, from small and large patent holders, to financial services providers such as private equity firms and hedge funds.
SOURCE IPDefine Ltd.; CMS CAMERON MCKENNA NABARRO OLSWANG LLP
NOTE: This content is not written by or endorsed by "KXAN", its advertisers, or Nexstar Media Inc.