IPwe’s Smart Pools Are Driving Tech Innovation
IPwe’s Smart Pools are designed to encourage technology innovation by removing the barriers that intellectual property typically generates.
Companies that want to drive tech innovation have three main goals:
1. Create an innovative product
2. Outsell their competitors and
3. Continue to bring more innovative products to market
But, obtaining the intellectual property coverage required to bring even one innovative product to market can take time and effort. Furthermore, companies may face months of litigation and steep legal fees if they mishandle the intellectual property process.
However, thanks to IPwe’s Smart Pools, the nature of IP is changing. Because of Smart Pools, companies no longer have to use intellectual property solely as a corporate defensive tool. Instead, they can utilize intellectual property as a compass for change that encourages adoption and expands commercial opportunities.
IPwe is a leading way for companies like yours to unlock a technologically enabled future. Smart Pools are a one-stop shop to acquire the licenses needed to enter an emerging tech market at a feasible price point.
Join an IPwe Smart Pool
Join a Smart Pool in your technology area as a member and access the right to license any patent in the pool. How does it work? Founders contribute the right to license their patents to the pool, and members get the opportunity to access those licenses.
Moreover, by becoming a member, you can take advantage of the inexpensive membership fee and access licenses to an entire pool of patents much faster than one to one licensing. This results in happier customers for your business and frees up internal resource for things that matter so that you can innovate better than ever.
With just a few clicks today, sign up for Smart Pools by IPwe. If you cannot find the technology area you are looking for, let us know, and we would be happy to create a Smart Pool specifically for your emerging technology.
What is a Traditional Patent Pool?
A traditional patent pool is an agreement between multiple companies or individuals to license their patents to one another for a specific purpose or industry. The goal is to combine the intellectual property rights of multiple parties in a particular technology area or field to facilitate the development of new products or services without the risk of infringement lawsuits. By pooling their patents, the participating parties can license the patents to each other at a lower cost than they would individually. Various industries, such as consumer electronics, software, and telecommunications, have utilized traditional patent pools extensively.
How Do Smart Pools Differ From Typical Patent Pools?
Smart Pools enable companies to share the right to license their patents while retaining IP ownership. This makes it easy for other companies, Members, to access licenses in one technology area from a single source, the Smart Pool. Members pay an annual membership fee. The revenue generated from the membership fees is then shared among Founders.
Smart Pools uniquely use blockchain technology to streamline the setup process and provide transparency and security for all parties involved. Because of this efficiency, 90% of the revenue generated by the Smart Pool is distributed back to the Founders.
Why is Tech Innovation Important?
Tech innovation is essential for driving progress and improving our lives. It is a key driver of economic growth and has the potential to create new jobs, products, and services that can make our lives easier, safer, and more fulfilling. The pace of technological advancement has been astounding in recent years. It has revolutionized how we live, work, and communicate. From the rise of social media to the advent of electric vehicles, tech innovation has transformed every aspect of our lives.
In addition to enhancing our daily lives, tech innovation has also made significant strides in addressing some of the world’s most pressing challenges. For instance, emerging technologies such as artificial intelligence, renewable energy, and biotechnology hold great promise for combating climate change, improving healthcare, and reducing global inequality. By supporting and fostering tech innovation, we can create a better world for all.
Furthermore, tech innovation is not just about creating new gadgets or software; it is about finding new and creative ways to solve problems. Innovation can occur in any field or industry, from finance to agriculture, and has the potential to unlock new sources of growth and prosperity. By fostering a culture of innovation, we can encourage individuals and organizations to think outside the box, take risks, and develop new solutions to old problems.
In conclusion, tech innovation plays a vital role in shaping our future, driving progress, and improving our lives. By supporting and fostering innovation in emerging technologies, we can create a more sustainable, equitable, and prosperous world for all. Therefore, it is crucial that we continue to invest in research and development, provide support for startups and entrepreneurs, and create an environment that encourages and rewards innovation.
How is Intellectual Property Related to Tech Innovation?
Intellectual property (IP) plays a critical role in tech innovation. IP provides legal protection for innovative ideas and inventions. It encourages individuals and companies to invest time, resources, and capital in creating new products and services. Intellectual property rights protection allows innovators to profit from their inventions, creating a strong incentive to innovate. With this protection, there is more incentive for companies or individuals to invest in the research and development necessary to bring new technologies to market.
Patents, copyrights, trademarks, and trade secrets are different types of intellectual property rights that protect different aspects of technological innovation. Patents, for example, protect the functional aspects of a technology, such as how it works or is made. On the other hand, copyrights protect creative works, such as software code or user interfaces. Trademarks protect brand names, logos, and other identifiers, while trade secrets protect confidential business information.
IP also enables companies to collaborate on research and development through licensing agreements and patent pools. By sharing their intellectual property, companies can combine their strengths to develop new products and services faster and more efficiently.
In summary, intellectual property is crucial for tech innovation. Intellectual Property provides the necessary incentives and protections for innovators to invest in new technologies R&D.
Sign Up for an IPwe Smart Pool Today
To sign up for IPwe Smart Pool, visit our Join a Smart Pool page, and an IPwe analyst will contact you as soon as possible.