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Inolyst: Technopreneurs ensuring better ROI from Patents
By Eureka Bharali, SiliconIndia
Bangalore: 'Patent for the sense of security' - the old cliched attitude towards patent filing. Isn't it necessary to build up on the investments, whether it's time, money or energy, and bring in a modest ROI from it? "That's a challenge. Whether it's large corporations or small startups, the traditional look towards patents is still a challenge," says Dilip Kumar - Founder of Inolyst, an Intellectual Property Advisory, Monetizing and Licensing services firm. As per a recent survey, 49 percent of the companies have never licensed its patents to others and 29 percent had no intention of using their patents as collateral in the future.
The patent scenario in India turns more complex. Even if one would like to put their patent to use, there would be no technopreneurs to help them out. Rather lawyers without any technology -specialization handles the job. "Some of our present client had tried working with other law firms. After a certain time, as they come to the state of explaining the monetization process, it hardly makes sense to the clients since being non-technical persons they were not able to give a better proposition for the IP usage. Neither were they able to complement the inventor or companies vision by assessing their technologies' future market," Kumar says.
Advising on IP creation and creating patents is a routine deal for Dilip, and he thanks his diverse experience in hi-tech and Intellectual Property domain while working with Fortune 100 companies, U.S. law firms, investors and startups both in India and U.S. The growing need of acquiring new technologies/IP from outside market by Big technology firms has opened up another window for inventor's and patent holders to consider monetizing and licensing their own IP and Inolyst immediately tuned their expertise in this direction. A look at Inolyst's team shows a comprehensive man years of experience on diverse technology domains like communications, electronics, computers, networks, digital and analog circuits, software, semiconductor processes, telephony, medical devices, chemicals, energy and other clean tech technologies. The company not only strives to help in patent licensing but also to increase idea and patent generation.
The ratio of patents that are filed in large organizations do not coincide with the number of ideation that happens within them. What deters it? It's the number of handshakes that take place to get the idea of someone at the bottom of the hierarchy to reach the top level and get recognized. When Anoop Kurup, the Co-founder of Inolyst saw this, he realized the hassle and provided a software solution, which can ensure that most of the ideas generated within diverse technology groups nside a company are captured and well documented this helps to detect whether an idea is patentable or not. more help the top management of a company to evaluate all the inventions generated within their company because you never know - where the BIG million dollar idea is.
"The software has certain generic questions like 'What is the pain point you are trying to solve?' or 'Who would be the closest competitor for this idea?'. Once the answers are inserted, the software does an initial analysis and reveals if the idea is viable to be patented. The solution is a result of our deep understanding of invention analysis and techniques like TRIZ," he says. With recognition at the earliest stage, it would facilitate in spinning-off competent firms. For instance, Freescale - one of the top semiconductor firms, which is a spun-off from the leading mobile firm Motorola.
Today, Inolyst has some top firms in the mobile realm in its kitty. With mobile sector being the 2nd largest patent filing arena perhaps most of the top Mobile products ,advertising and VAS companies benefits from their deep understanding and knowledge of this market, AA majority of its clients are Indian startups and companies with global go-to market strategy.. Considering the fact, that more than 15,000 patent applications in U.S. are from Indian inventors, it's natural for the trend to have more of U.S. firms than of India. This is one reason, both Kumar and Kurup envisions an India which is more aware of the IP benefits and a stage in the country when patent filing will not be a question of just protecting an idea rather to reap more ROI from it.
