CASE STUDY: A STATE UNIVERSITY IN THE US
A state university in America had a multitude of patents it wanted to commercialize for revenue. The only problem it faced was determining which IP assets might be relevant and apply to different industries. As a result, it was challenging to show potential licensees how they might benefit from the IPs the university owned.
Based on the knowledge gained on various Relecura products, the university decided to use multiple search features including semantic similarity, assignments, Novelty, litigations, and forward citations to get a list of potential licensees for their patents. They also used the Taxonomy tool to organize the technologies they created and invested in over the years and draw a comparison between their technologies and those of competitor companies.
The use of the Enterprise Web Tool helped them determine the IPs that would be valuable in the market and find prospective buyers. Also, the benefit of using the Taxonomy feature was that they could compare their own IP assets with those of their competitor companies and find the connection between them. In other words, one technology could be used in conjunction with another to create a highly valuable product.
It’s a given that anyone with a valuable patent would want to maximize them for profits. The university is no different. But to sell something for a profit, you need to find the appropriate buyer who can use your invention the way you envision it and make sure it benefits all its users. Thanks to Relecura’s Taxonomy feature, the university could access all its technologies, view those its competitor companies had invented or acquired over time, and do a comparative analysis. The analysis helped them draw a link between what they own and what others do.
Proving that your technologies are not just valuable but also can be used with other technologies to create better products can turn the deal in your favor while you negotiate with potential licensees. In the end, the win-win is what matters.