The estimated value of U.S. intellectual property is between $5 trillion and $5.5 trillion
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Minneapolis, MN (Vocus) January 7, 2009
In today's challenging economic environment, business leaders are discovering an often-overlooked revenue stream -- their patent portfolios.
"The estimated value of U.S. intellectual property is between $5 trillion and $5.5 trillion," says Jennifer Rankin Byrne, director of public affairs at the U.S. Patent & Trademark Office. That's equal to 45 percent of the nation's gross domestic product, Byrne says, "and greater than the GDP of any other country in the world."
With that kind of revenue potential, business leaders are embracing the ClaimBot® system, a robust web-based software application that rapidly sorts, ranks and analyzes patent claims.
Four years in the making by Schwegman, Lundberg & Woessner, P.A., the ClaimBot® system is now being marketed by Lucid Patent (For more information, visit http://www.lucidpatent.com).
This week in Minneapolis, business leaders will receive a hands-on opportunity to see how the ClaimBot® system works during easy-to-digest 90-minute workshops (for more on the seminar sessions, see below).
"With the constant development of technology, patent space gets tighter and tighter," said Reinhold Henke, director of engineering for Dymedix Corp. "Therefore, the more help you can get from a tool like ClaimBot® system, the better."
The ClaimBot® system does not replace patent experts, but it eliminates many mundane tasks tied to portfolio analysis. Most importantly, it:
- Gives staff more time to understand the claims coverage of their patents.
- Greatly automates the fifteen most common IP workflows.
- Identifies potential revenue streams.
- Allows for cross-departmental collaboration and decision-making.
The ClaimBot® system's easy-to-use mapping and charting process lets businesses analyze relevant patent claims and, literally, puts them up on the wall. Now, they and others in their organization can look at many patents at once and see what they have in common or what's missing.
In this litigation-heavy environment, understanding patent claims coverage can protect companies from competitors and patent enforcers. The ClaimBot® system can also assist companies or individuals who are interested in buying a patent portfolio. It lets them quickly see what's special - or not special - about a portfolio.
The ClaimBot® system can also help organizations identify those who might benefit from licensing their tecnologies. It also can highlight areas of interest and create other revenue opportunities as well.
Because the ClaimBot® system reduces attorney hours spent on mapping and charting, it couldn't come along at a better time as companies reduce expenses amid this sluggish economy. The system also creates an online patent claims coverage database that can be used for multi-disciplinary collaboration and decision-making.
The ClaimBot® system workshop Information:
When: Jan. 9, 2009 (9 a.m., 2 p.m. and 7 p.m.) All times CST
Where: Marquette Hotel, 710 Marquette Avenue, 3rd Floor, Mississippi Room Minneapolis, Minnesota
Why: To see how the ClaimBot® system can make your patent claims visible, allowing you to identify new revenue streams.
More info: Joe Scott - 612-839-3800
To Register: http://www.ipseminars.net/SLW0109/ColleaguesMSP
Schwegman, Lundberg & Woessner, P.A. is a mid-size patent preparation and prosecution law firm, founded in 1993 by Micheal Schwegman, Steven Lundberg and Warren Woessner. They and their 80-plus attorneys solely concentrate on managing their client's Intellectual Property portfolios and obtaining the highest quality patents. Every SLW attorney has a technical degree that is relevant to more than 130 practice areas. SLW's client list includes not only emerging corporations, but Fortune 500 companies and major universities. SLW has offices in Minneapolis, Silicon Valley and Austin, Texas. More information is available at http://www.slwip.com.
Contact: Robb Leer 612.701.0608