Universities require a unique approach to IP management.
Universities are unique among innovators in that they dedicate meaningful resources to creating innovations but little resources to productization or commercialization of their innovations. The latter is left primarily to industry cooperation agreements, tech transfer, or IP licensing. There are few large research universities in the US where commercialization of their innovations and licensing of their IP is staffed and funded as a serious business. The vast majority of universities file for and receive patents primarily to keep faculty happy or to boost the university’s ranking. However, regardless of the size and sophistication of the tech transfer office, almost all universities suffer from two shortcomings. One is the filing for and maintaining of a slew of patents and applications that have little to no value, and the second is the closing of prosecution on applications that would have been very valuable had the prosecution been kept open.
At Armada, we have the experience in managing IP portfolios specifically for universities. We also understand the limitations and dynamics of development and maintenance of patent portfolios that are specific to universities. By bringing independent, expert advice on IP portfolio management, we provide an opportunity for the tech transfer offices to avoid the two shortcomings mentioned above.
In those situations where the university owns valuable innovations and requires additional financing in order to commercialize those innovations or to license the underlying IP, Armada can be a financial partner also.