8 June 2021News
IBM-IPwe Partnership Hopes to Increase Patent Efficiency, Propel Transactions
Investors, both speculative and strategic, are adjusting to the emergence of a bold new category of assets—digital collectibles. NFTs, or Non-Fungible Tokens, are so called because they are irreplaceable or one-of-a-kind artifacts—effectively, digital “limited editions.” Now this partnership between IBM and IPwe brings this innovative technology to intellectual property.
NFTs trade on blockchains or distributed ledgers, typically without middlemen or brokers. The primary advantage of most blockchains is transparency and efficiency. Agreements are recorded on an open ledger for all to see. This is especially attractive to frequent traders who require accurate pricing and full disclosure for difficult-to-value assets.
Now, two stalwarts in the intellectual property world, IBM and IPwe, believe that NFTs can be used to take patent monetization to new heights. This partnership tokenizes patents on the IBM blockchain, but given IBM’s depth in blockchain technology, its expansive patent portfolio, and IPwe’s experience in patent transactions, IP watchers will want to keep a close eye on developments.