Evolution of IP breakfast
On Wednesday 30 July AISTEMOS hosted a breakfast debate on the Evolution of IP, led by The Rt. Hon Professor Sir Robin Jacob and Tony Clayton of The Intellectual Property Office.
The discussion focussed on intangible assets and patents in particular. We brought together major corporates and the banking and advisory community, to consider whether intellectual property is at a crossroads. Is the current surge in IP litigation a crisis or a sign that IP is developing into a functional class? Will this help IP Strategy become a core element of every organisation’s management agenda? Will this encourage or deter the banking sector to recognise IP as security in lending transactions? Can insurance markets be used to help smooth the risk across the innovation landscape?
Read the post on the IP Finance blog.
Chaired by Sir Robin Jacob and Tony Clayton, Chief Economist of the UK Intellectual Property Office, we discussed a range of topics including the raising of finance for innovation and the fact that those who need finance do not know where to go, and lenders do not, in the main, understand IP as an asset class. Education is required.
The availability and cost of patent insurance was debated, and it was pointed out that too often the risk and cost associated with patents was the centre of attention, rather than the value – it was agreed that this was a hard but necessary bridge to cross.
There was something rather unique about the gathering. As Sir Robin said in closing the meeting, he had never been to a meeting quite like this, and feedback from the attendees indicates that they would like to continue the conversation – we’ll see what we can do. The event was covered in more detail by guest and IPKat founder Jeremy Philips here.
We also reached another milestone, as the CIPHER Pilot Group has grown significantly, and now includes 50 major corporates, banks, accountants, law firms, insurers and consultants, including ARM, BAE Systems, CFC Underwriting, Deutsche Bank, Ernst & Young, PWC and Slaughter and May (full list here).
We are delighted that CIPHER has attracted such strong interest which we know from talking to Pilot Group members, reflects a growing desire to unlock the true potential of IP.
Just as importantly, this growth in membership, and the willingness to engage, places us in a fortunate position. We are able to work with some of the world’s leading organisations as we develop the first IP business intelligence product to aggregate, analyse and visualise data relating to patents and related events for the benefit of the wider business community.
This input, together with a willingness to debate the issues at the heart of IP risk and value, has played a vital role in the development of CIPHER, which now provides instantaneous access to analytics relating to over 30 million patent families across more than 1.5 million owners.