For many, commercializing IP is a time-consuming task. It is also necessary to generate revenues and keep organizations at the forefront of research and innovation. However, without access to the right information, the probability of failure exponentially increases.
Historically, licensing professionals have had to spend hours looking for potential licensing partners, comparable deals and similar patents. Many individual databases have existed to aid in a portion of discovery, but none could find it all, connect it and present the information in a meaningful format.
The following case study outlines how licensing professionals can utilize ktMINE Commercialization Wizard to access the above-mentioned information, and ultimately succeed in commercializing their IP. Specifically, our licensing professional is asked to commercialize a portfolio of patents related to battery technology.
The process begins by uploading a portfolio of patent numbers related to battery technology.
From this list of patent numbers, Commercialization Wizard creates a list of keywords associated with the abstracts of each patent document. These keywords are then used to pull relevant connected data from ktMINE repositories and display that information within the Wizard.
The first section of data relates to Market Participants and gives our professional a starting point for partnership selection. Each company displayed on the resulting list has participated in IP related activities associated with battery technology. For this particular search, the following companies have a high probability of interest in licensing battery technology from our professional:
- KONINKLIJKE PHILIPS ELECTRONICS N V
- OVONIC BATTERY COMPANY INC
- DAIS ANALYTIC CORPORATION
- A123 SYSTEMS LLC
Armed with possible licensing partners, our professional can then view royalty rate data related to deals made for similar technologies. As can be seen on the graph below, royalties for battery-related technologies have been licensed anywhere from 4% to 25%. This gives our professional a good sense of what rates can be expected when licensing their technology.
Next, our professional can view current deal structures related to battery technology. Since these deals are directly related to the technology our professional seeks to commercialize, this information allows them to review the structure of these deals and the terms that can be expected when licensing their own technology. Additionally, they are able to see how potential licensing partners have completed deals in the past, providing for a higher likelihood of success.
The final section of Commercialization Wizard presents our professional with a list of licensed patents. Through enhanced data connections, they can now view those technologies, related to their own, that have already been successfully commercialized. As these patents are the same patents included in the previous section, it becomes infinitely easier to make connections between technology functionality and the resulting deals.
Commercializing IP doesn’t have to be hard. By collecting data, connecting it, and presenting it in meaningful ways, ktMINE Commercialization Wizard reduces the time needed to successfully commercialize any technology.