“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 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. Startup 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 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 allocations, R&D strategizing in time and above all to have a habit of looking around when we start a new project.

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 against competition or as a 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 art, more so, putting a price tag on it is equally challenging.

Like all its colleague firms, it is an endeavour of Patentwire® to ensure strategic advice and support to individuals, start-ups, small & medium sized enterprises, R&D Institutes, Universities in protecting and managing their IPs. However, in addition to the above, services at Patentwire® extend in terms of support in developing innovations, policy making, monetization and commercialization of their IP in best possible manner. Patentwire® encourages cross-border technology transfer and revenue generation for global cooperation and harmony.

IP Bazzaar®, a venture of Patentwire®, is dedicated towards revenue generation for IP. The experts represent and defend the IP in the language of the buyer. The gap in expertise is bridged by IP Bazzaar® in a manner which puts no extra burden, monetary as well as resource wise, on innovators. Almost all the innovations/creations are motivated towards commercialization. Despite of all precautions, many times due to unavailability of right guidance and a set modus operandi, many IPs have failed to serve the purpose towards science and the society.

Whereas, after inception of an idea, protection under appropriate Intellectual Property Rights is the first essential step, commercialization should be the ultimate result of such exercise resulting into knowledge transfer or technology transfer or creative output maximization. If the knowledge transfer/technology transfer/creative output is managed professionally, if IP is successfully monetized into a lucrative asset to attract finance, generate revenue, it will indeed be an ultimate motivator to create more. IP Bazzaar® mobilizes IP towards successful commercialization by initiating, managing and creating opportunities for investment and revenue generation via knowledge transfer/technology transfer/creative output of protected and unprotected Intellectual Property.

IP Bazzaar® aspires to motivate innovators. Gradually, this portal is becoming the preferred destination for technology transfer and commercialization of any/all the Intellectual Property. IP Bazzaar® is one of the most user friendly and customized eportals on commercialization by facilitating knowledge transfer or technology transfer or creative output maximization. It works on set objectives of increasing visibility of innovations/creations and various other intellectual property rights from various industry sectors to attract the right investors in an organized and professional manner.

IP Bazzaar® is an independent legal entity which acts for both innovators/creators and investors; and manages the commercialization of Intellectual Property. Operating through a wide network of association with companies, industries, industry-associations, entrepreneurs, government organization, NGOs, Universities, Venture Capitalists, overseas law firms, overseas technology transfer companies and through Patentwire®, IP Bazzaar® strives to make both the ends meet and to make IP generated to work for creator and investor!

IPBazzaar Technology Consultants Pvt. Ltd.

B-10, Ground Floor, Vishwakarma Colony M.B. Road, New Delhi-110044, India Mobile: +91 98113 67838 | Telephone: +91 11 26360036 Fax: +91 11 26360037 www.ipbazzaar.com