Friday, 6 January 2017

Push from CPA Global adds to ORoPO's momentum

A push in the right direction
can have knock-on effects ...
At risk of sounding like latter-day prophets, the Aistemos blog team can say in all honesty (and with some pleasure) that some of their more ancient blogposts have been a bit ahead of their time. In a series of articles posted mainly in 2015 [you can check them out here], we trumpeted the virtues of having accurate data regarding ownership of registered intellectual property rights and supported the launch of non-for-profit ORoPO [in full, that's the Open Register of Patent Ownership, which you can read more about here]. While ORoPO, as its name suggests, does not cover all registered IP, the fact is that, in practical terms, patents are the ones that are most important in terms of IP analytics; they also have the potential to cause the most trouble if your ownership information is wrong.

It is thus with the greatest satisfaction that we read this week's media release from leading IP management and technology company CPA Global. The story tells of CPA Global's active support for ORoPO

CPA Global®, a leading IP technology and management company, is actively supporting the Open Register of Patent Ownership (ORoPO) – a non-profit organisation that aims to improve transparency and openness around patent ownership data. According to this release:
" ... The World Intellectual Property Organisation (WIPO) estimates that 25% of patent data available on public registers is inaccurate. This can be caused by something as simple as a misspelling on a patent application or uncertainty around ownership [in this context, 'inaccuracy' embraces 'inconsistency' -- an almost inevitable consequence of the transliteration of names of companies and individuals between different languages or scripts]. During the lifetime of a patent, ownership can change hands or companies change names. Data needs to be regularly updated.

Inaccuracies in patent ownership have significant consequences, causing increased risk, cost, and uncertainty that creates barriers to innovation. With intellectual property making up as much as 70% of a company’s value [this statistic has become something of a mantra, in whichever form it gets quoted. In some sectors it can be hard to find businesses with an IP-based value of as little as 70%], inaccurate information can fundamentally impact the core asset value of a business. ...

CPA Global will support ORoPO by actively publicising the initiative to its customer base and encouraging its clients to grow the open register database. CPA Global is planning a series of joint webinars with ORoPO, IBM and Microsoft to improve knowledge of the initiative and share its benefits. ...
Simon Webster (CPA Global's CEO) is unambiguous in his support. In his own words:
“Intellectual property is as important, if not more so, than physical assets in determining the value of a company. Innovation is critical to global business growth and ORoPO will help remove uncertainty around who owns assets and how they can be used. We wish to support ORoPO and promote its benefits to our clients and beyond, helping to drive further traction on this important initiative.”
Added to the support that ORoPO already has from major players in the world of patents and innovation such as IBM, Microsoft, ARM and BAE Systems, this development suggests that maybe the time has come for others to follow suit.

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