Future Tech IP Summit
Managing IP Rights in an Innovative Landscape
The Future Tech IP Summit was held on 27 November 2017 at etc. venues, St Paul’s (London). The event programme boasted innovative opportunities to explore the uncharted waters of intellectual property (IP) for emerging technologies with panel discussions, presentations, and exhibitions. It’s safe to say that this event did not disappoint; the well supported event gave audience members access to exclusive viewpoints from industry experts!
IP Rights for Tech Startups
The day opened with a keynote by Jan Walaski, Managing Partner of Venner Shipley; swiftly followed by a panel discussion on ‘How Important IP rights are for Tech Startups’. The core message of the event demonstrated the significance of a clear IP strategy to enable tech businesses to maximise value by protecting their intellectual property assets.
Building on this advice, the audience were treated to an insight about Swiftkey (the award-winning predictive keyboard for iOS and Android) from the former Head of IP, Gareth Jones (currently holding the same position in BenevelontAI). During this event he spoke about Swifkey’s exit strategy and successful sale to corporate giant, Microsoft. And what was vital to this impressive sale? Well, of course, it was IP! More specifically, his experience emphasised both patents and a strong brand as the bargaining power in negotiating a sale.
How do SMEs defend their IP?
Dr Jochen Spuck from the Swiss Federal Institute of IP presented an approach to modern patent benchmarking that can ensure competitive advantage. The model is based on setting quality parameters and by focusing on the ‘big players’ of tech. Through this approach small businesses can compete effectively in the tech industry. Similarly, Nayan Shah of Cheers Interactive, presented a very interesting case study on how a business can commercialise and apply their IP rights in the different industries. It brought to our attention the importance of understanding intellectual property rights in their context and that commercialisation can happen at any level.
When it comes to a company deciding where they need to register their patents, the advice is “think big and think global”! According to Anne McAleer, IP Manager of IDEX ASA, this is the correct emphasis that businesses need to execute when formulating a future-proof IP strategy. In theory, by looking ahead it enables a company to analyse threats in the industry and diversify their business accordingly.
Similarly, panel chairman Alex Brown, discussed how the management of a company is ultimately responsible for protecting the IP assets from external threats. With this outlook they have to consider non-compete clauses, non-disclosure agreements and security in order to control the IP of the company. However, an effective strategy derives from good communication and therefore, this effort must be disseminated to employee training on good practice. In short, they must be kept up-to-date as to what is expected of them! Concluding the session, the panel were unanimous that a company must view their strategy as dynamic, ensuring the IP is always kept ‘clean’ of threats.
IP Legal Services
An engaging presentation on ‘IP Services — the good, the bad and the ugly’ was given by Zeev Fisher, CEO of Pekama. Most notable, was the tone of negativity surrounding the current services of patent attorneys and IP departments of law firms. The presentation highlighted the perspective of a startup facing investment rounds, rising legal costs and a strong need for IP protection of their core assets from the outset. The discussion went so far as to suggest that even when they do budget for professional legal advice, their expectations are not met! As an audience representative from qLegal, we found the topic most interesting. Has clinic legal education become the stopgap between the rising demands for affordable commercial legal advice? Our rising list of enquiries would surely point to this conclusion.
IP Finance
The final panel discussion was chaired by Jon Calvert, the CEO of ClearViewIP. Under the ubiquitous heading of ‘IP Financing: fantasy or opportunity?’, the panel discussed how a company that has: “people, platform and product; has IP”. It was not unforeseen that the controversial use of IP finance instead of a loan or venture capital was an opinion driven topic. The panel, although in agreement, resolved on a solemn note: that there are limited circumstances where IP Finance can be used, and in reality it is often a delusional and desperate decision. However, with a strong IP strategy, SMEs have a good chance of financing the business through alternative avenues.
Regardless of differing opinions, the day was concluded on a high; with a drinks reception and networking event where indeed an audible buzz of the hot topics were being discussed.
