How IPwe Became The Leading SaaS Provider of IP Innovation
Many people are familiar with IPwe and its CEO, Erich Spangenberg. Few people are aware of the full history of IPwe and the motivations behind its founding. We wanted to share IPwe’s mission and full history, in light of the partnership between IPwe and Clarivate which will the digital transformation of IP innovation.
While IPwe was founded in 2018, its insurgency began in 2007, with the acquisition of a patent analytics tool out of the University of Minnesota by Erich Spangenberg. This tool was harnessed to generate over $2 billion in revenue from patent financing. This tool made Erich and his team global leaders in patent asset management and valuation.
But the team wanted to expand prolific management of IP scale outside the confines of their company. However, this proved difficult, as patents are a traditionally inefficient and cumbersome asset to monetize. The IPwe team in 2007 was left without an answer and was also spending significant time and resources consolidating patent data.
Until 2017, when the enterprise use case for blockchain technology began to receive more attention. The IPwe team realized that the missing piece in the puzzle for patent management and patent data management that has vexed IP professionals and financial executives for years was solved by using n unique combination of blockchain technology and artificial intelligence.
IPwe Was Founded by Erich Spangenberg
Following this realization that blockchain could be used to consolidate and track patent data, IPwe’s AI focused on patent analytics. This focus enabled IPwe with the means to provide data-driven insights to business leaders’ patent portfolios through its platform.
While providing this consultative and transactional service for business leaders, IPwe remained focused on executing its ambitious long-term goal of becoming the singular fintech platform for intangible asset management. IPwe acknowledged that the task at hand would not be completed overnight, Erich Spangenberg and his team remained dialed in on ensuring its offering would be built from the ground up, without any shortcuts.
Partnering with IBM’s Hyperledger Accelerator program in 2019, IPwe demonstrated its intentions to develop industry-leading blockchain technology. With a unique outlook on the potential of emerging technology to revolutionize intangible asset management, companies, like IBM, quickly bought into the vision of a new form of IP management.
Then, in 2021 IPwe announced a partnership with Casper to further use blockchain to innovate the IP space. Casper is a unique blockchain-powered company that provided IPwe with the capabilities to transform patents into NFTs.
IPwe’s Success and Partnership with Clarivate
Fast-forwarding to January 2022, IPwe kickstarted the beginning of its new ecosystem, with the launch of the Smart Pool initiative.
Pioneering a new age for IP, Smart Pools represented a refreshing use case for intangible assets. Smart Pools unlock innovation for the wider market and promote the adoption of new technologies.
From its beginning in 2018, IPwe has maintained its mission to propel innovation. The inefficient use of intangible assets has proved to be a consistent barrier to innovation. IPwe’s Smart Pools launched in 2022. They represent a new way for companies to unlock innovations to the rest of the market. Smart Pools have over 600 members and growing, in its first year. This success highlights the desperate need for a solution of its kind. Expanding into 2023, Smart Pools will be just a pillar of the wider IPwe ecosystem for Smart Intangible Asset Management.
This initial success, alongside increased exposure of their thorough developments in the digital space, contributed to IPwe’s large degree of notoriety in the IP space. A flock of interest in 2022 culminated in an industry-changing partnership with Clarivate, the world’s largest curator of patent data.
Clarivate saw an opportunity to rapidly progress IPwe’s bid to change the paradigm for intangible asset management. Together, with their vast database and experience and IPwe’s relentless developments in the space, IPwe’s partnership with Clarivate stands to be the catalyst for a change in asset management that will forever impact business as we know it.
Leader in Intellectual Property Innovation Since 2018
IPwe is now at an inflection point in its journey as a leader in intellectual property innovation. Combining a lifetime of success in IP management with 4 years of rigid development in the artificial intelligence and blockchain technology space, IPwe is ready to officially launch IPwe’s Smart Intangible Asset Management to the public on January 2nd, 2023.
With a focus on understanding one’s intellectual property, and having a vessel to effectively leverage this knowledge, the Smart Intangible Asset Management platform is a one-stop SaaS platform for intangible asset management, enabling business leaders to generate a higher ROI on their portfolios.
Utilizing its seasoned AI with both IPwe’s global patent registry and Clarivate’s complete dataset, IPwe’s technology will be able to accurately evaluate every single patent on the market, creating an accepted standard for a previously abstract asset.
As well as facilitating a greater understanding of a portfolio, a blockchain eco-system consisting of IPwe Digital Assets provides a means to capture this information into one secure database. Whether you have a portfolio of 10 patents or 10,000, the Smart Intangible Asset Management platform can digitally record all relevant data points for its client’s asset management onto its platform, providing a single source of truth.
A source of truth that is not just there for peace of mind, but to be actively managed within the IPwe ecosystem. IPwe’s Smart Pools are just one of several avenues to unlock your assets’ full potential and increase their ROI.