SPECIAL
against competition or as a
IP Monetization:
High Time to Reap the Best
Lalit Ambastha & Shruti Kaushik
M
onetization is the
process of
converting or
establishing
something into
legal tender.
When it comes to
Intellectual Property (IP), the default
understanding limits to just Patents. Ideally,
it should be inclusive of Patents, Designs,
Trademarks, Copyright, as well as
technology know-how. The most sought
after IPs and interestingly most open for
sale/license among all are 'Patents' and
'Know-how'. IP monetization is generation
of revenue or the attempt to generate
revenue by a person or company by selling
or licensing the IP it owns.
CREATING AN IP IN ITSELF A CHALLENGE,
MONETIZING THE SAME MAKES THE WHOLE
GAME AN INTERESTING ONE.
It has been more than 10 years since India
opened doors for 'Product Patents Regime'
particularly in pharmaceutical and
18 | Lex WITNESS | February 2017
agricultural chemicals. Though the
domestic markets have started making
space for IP, we are still struggling for our
space in worldwide patent portfolio. The
term IP monetization is still unknown or
unused stage of IP system in India.
Government of India's initiatives viz. Start-
up India, Make-in India are being looked
upto by many to catalyze the innovation
process from generation to monetization.
Despite of housing great R&D labs and
institutions, India is still looking for a role
model in IP monetization and
commercialization. We are still struggling
to understand the importance of strong
claims and sufficient disclosure in
specifications in successful
commercialization of a technology. Despite
knowing the fact that except for
allocations, R&D strategizing in time and
pharmaceuticals, a technology generally
survives just 4-5 years, we devote our time,
energy and money to get the certificate. We
miss the opportunity to utilize the statutory
time gaps between first filing and foreign
filing in our favor. We miss the opportunity
to look around the world. We solely rely on
market researches and undermine the
valuable Patent databases to gather
information on our competitors, local as
well as international.
It is a well acknowledged fact that 'IP' adds
value to any entity. Quantum of this value
in turn is dependent on several factors. The
factors may be at times external which per
se cannot be controlled and hence affect all
competitors equally, for instance, change in
demands, change in legal frameworks,
technology holocaust, or
substantial/ground breaking technological
advancement. The internal factors are the
one which need to be monitored closely
and controlled accordingly. For example,
we can have checks on time lines, fund
above all to have a habit of looking around
when we start a new project.
the society.
Once we ensure the quality and protection
of IP thus created, it is in the welfare that it
is put to work either as an ammunition
SPECIAL
sellable/licensable entity i.e. monetizing to
generate returns. In essence, it is an asset
which can be monetized. Even if it becomes
a liability, like in case of an idle IP, it can
be monetized to convert into a workable
asset for an organization.
Economic theories and intellectuals do
admire and acknowledge the importance of
'rightly creating and protecting' assets.
Still, there lies a paradox in what is being
created, against what is being protected,
and in even more apparent contrast, what
is being monetized. The root of the cause
being: gap in expertise. An inventive mind
seldom has legal inclination. Marketing a
creation/invention is altogether a different Property Rights is the first essential step, investors; and manages the
art, more so, putting a price tag on it is commercialization should be the ultimate commercialization of Intellectual Property.
equally challenging. result of such exercise resulting into Operating through a wide network of
knowledge transfer or technology transfer association with companies, industries,
Like all its colleague firms, it is an
or creative output maximization. If the industry-associations, entrepreneurs,
endeavour of Patentwire to ensure
knowledge transfer/technology government organization, NGOs,
strategic advice and support to individuals,
transfer/creative output is managed Universities, Venture Capitalists, overseas
start-ups, small & medium sized enterprises,
professionally, if IP is successfully law firms, overseas technology transfer
R&D Institutes, Universities in protecting
monetized into a lucrative asset to attract companies and through Patentwire, IP
and managing their IPs. However, in
finance, generate revenue, it will indeed be Bazzaar strives to make both the ends
addition to the above, services at
an ultimate motivator to create more. IP meet and to make IP generated to work for
Patentwire extend in terms of support in
Bazzaar mobilizes IP towards successful creator and investor!
developing innovations, policy making,
commercialization by initiating, managing
monetization and commercialization of IPBazzaar Technology Consultants
and creating opportunities for investment
their IP in best possible manner. Pvt. Ltd.
and revenue generation via knowledge
Patentwire encourages cross-border B-10, Ground Floor, Vishwakarma Colony
transfer/technology transfer/creative output
technology transfer and revenue generation M.B. Road, New Delhi-110044, India
of protected and unprotected Intellectual
for global cooperation and harmony. Mobile: +91 98113 67838 |
Property.
Telephone: +91 11 26360036
IP Bazzaar, a venture of Patentwire, is
IP Bazzaar aspires to motivate innovators. Fax: +91 11 26360037
dedicated towards revenue generation for
Gradually, this portal is becoming the www.ipbazzaar.com
IP. The experts represent and defend the IP
preferred destination for technology
in the language of the buyer. The gap in
transfer and commercialization of any/all
expertise is bridged by IP Bazzaar in a
the Intellectual Property. IP Bazzaar is one
manner which puts no extra burden, ABOUT AUTHOR
of the most user friendly and customized e-
monetary as well as resource wise, on
portals on commercialization by facilitating Lalit Ambastha is founder of Patentwire and co-
innovators. Almost all the innovations/creations founder of IP Bazzaar. He is Patent Attorney in
knowledge transfer or technology transfer India and is specializing in the area of
are motivated towards commercialization.
or creative output maximization. It works Intellectual Property and their
Despite of all precautions, many times due
on set objectives of increasing visibility of commercialization. He can be reached at
to unavailability of right guidance and a lalit.ambastha@patentwire.co.in
innovations/creations and various other
set modus operandi, many IPs have failed
intellectual property rights from various Shruti Kaushik is Director with Patentwire and
to serve the purpose towards science and
industry sectors to attract the right investors co-founder of IP Bazzaar. She is specializing in
the area of Intellectual Property for more than
in an organized and professional manner. ten years. She can be reached at
Whereas, after inception of an idea, k.shruti@patentwire.co.in
IP Bazzaar is an independent legal entity
protection under appropriate Intellectual
which acts for both innovators/creators and
February 2017 | Lex WITNESS | 19