1 June 2022News
“AI and Blockchain Are Helping to Transform IP Market, says Erich Spangenberg”
“Not only are fast-paced developments in AI and blockchain technology generating a wave of patentable inventions. They are also creating new ways to license and monetize those innovations. At the forefront of this shift is IPwe, the Paris-based FinTech IP company owned by patent market veteran Erich Spangenberg. IAM sat down with him to get the inside track on how the use of AI and blockchain is enabling new patterns of IP commercialization, and the future opportunities for patent pools”.
In a recent interview by IAM, Erich Spangenberg, IPwe’s Chief Executive Officer, explained how IPwe’s Smart Pools are a novel approach to intellectual property licensing. “The difference between us and MPEG-LA or Avanci is that the return to the founders is not based on how many patents you contribute. In other pools, you get paid based on how many patents you brought to the party, so what happens is the most important patents are wildly undervalued because they are the pioneer patents. We use a public-disclosed algorithm, updated every quarter, to calculate which patentees get what proportion of the licensing fees,” said Spangenberg.
The article went on to explain how IPwe’s Smart Pools focus on emerging technology areas where there is little IP commercialization to provide a decent return for founders, stimulate technology adoption, and promote commercial opportunities, such as the metaverse and LiDAR technologies. For example, IPwe recently launched the LiDAR Smart Pool, founded by Madrid-based SME, skanSENSE. “The LiDAR Smart Pool is a tremendous opportunity for innovative companies like skanSense. The process was simple and the first contact with IPwe to launch took less than two weeks. I will be working closely with the IPwe team to select key players In the LiDAR ecosystem, such as SMEs and larger innovators, and engage them in the Smart Pool as Founders and Members. LiDAR technology is entering a critical phase of adoption with applications in multiple industries and I look forward to leading this effort,” said Founder and CEO of skanSENSE, Cristina P. Magnusson.
To read the original article in IAM, written by Adam Houldsworth, please visit: https://www.iam-media.com/patent-pools/ai-powered-patent-pools-open-business-despite-some-market-scepticism.
Founded in 2018, IPwe is a Paris-based FinTech leveraging the power of artificial intelligence, predictive analytics and blockchain technology. Through the IPwe Platform, large enterprises, SMEs, owners, those looking to enhance their innovation profiles and those with a legal, technical or financial focus benefit from IPwe’s mission to empower innovation in emerging technologies. IPwe is committed to improving ROI whether measured by dollar returns, jobs created, ventures launched, or problems solved by increasing transparency, lowering costs and enhancing returns for the entire innovation ecosystem.