Patent Due Diligence Software
Intellectual Property Title Assurance
Innography's PatentGuard® is a managed service that analyzes a patent portfolio to identify potential patent title issues, reviews the patent due diligence process, and reports measures to repair broken title chains where possible. This due diligence software provides portfolio managers with a certified audit report of any existing issues to help assure the asset is properly protected.
Securing Patents as Financial Assets
Traditionally patents have been primarily a means of protecting intellectual property from competitors, but over the past ten years they have become increasingly important as financial assets. It is estimated that patent values range from a minimum of $38K (on a cost-basis) to millions of dollars in potential licensing revenue.
Inherent Flaws in Patent Ownership System
A vulnerability of patent title ownership is the relative ease with which title changes can be processed through the U.S. Patent and Trademark Office (USPTO). Furthermore, the responsibility for verifying accuracy rests not with the USPTO, but with the patent owner(s).
The USPTO has a strictly enforced window of 90 days to correct any issues with a patent title – whether from theft, fraud, or clerical error, before it becomes relatively unfixable. Data from the U.S. Federal Court of Appeals over the past decade shows more than a thousand cases in which patent litigation was dismissed because the patent owner did not have clean patent title ownership, resulting in lost damages ranging between $2M and $50M per patent.
PatentGuard is a patent due diligence managed service that helps you protect the IP you own, and value IP that you are buying. Contact your Innography representative for pricing information.