Third Party Patent Marketing: A New Avenue in Knowledge Process Outsourcing
By Kamakhya Srivastava,
Clairvolex Knowledge Processes Pvt Ltd
Knowledge Process Outsourcing organizations specific to the domain of intellectual property are now upbeat with a new field of activity showing positive signs. The third party licensing and marketing invention is providing a lucrative business opportunity for KPOs which are already into patent filing. According to a business daily, organizations are exploring entering into agreements to buy or license patents from the various research institutes in India. The rise in the number as well as grant of patent filings in India has added to the initiative. This business model is supposed to do the patent filings on behalf of institutes, buy or license patents and take inventions to the market.
Return on Inventions for universities and government funded laboratories & research institutions, through patent licensing is thought to increase exponentially as now they, with the advent of a third party in patent licensing, stand in good stead against large companies which tend to do market oriented research and have their resources to license or market their inventions.
The third party patent marketing, providing research laboratories a new avenue to garner returns from intellectual property seems to be in tandem with the draft National Innovation Act 2008. The preamble of the draft National Innovation Act speaks about facilitating public, private or public-private partnership initiatives for building an Innovation support system. Formation of ventures involved in addition of value through association by providing access to commercialization of products and services through expertise and business networks is an important measure supporting innovation. Another facet of private and public-private partnership, under the National Innovation Act facilitating innovation support system is the establishment of an electronic exchange or a physical marketplace for commercialization of information.
Third party patent marketing seems to be the emerging new space in knowledge process outsourcing.
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