Dennemeyer honored with IP Innovation Award for Patent Monetization Service
Published on: 16 June 2015
by Drs. lr. Marco Smit, Dutch and European Patent Attorney at Dennemeyer & Associates, Frankfurt am Main
An increasing number of patent owners and companies would like to sell patents that are no longer of interest to them rather than abandon them. However, finding potential buyers can be difficult and time-consuming. To solve this problem, Dennemeyer developed a Monetization Service that provides our clients with easy access to the patent market. Now, the intellectual property community has recognized this service.
Acquisition International’s Intellectual Property Awards 2015 has honored Dennemeyer S.A. with the 2015 IP Innovation Award.
“We are delighted to receive the 2015 IP Innovation Award,” says Dr. Malte Köllner, patent attorney from Dennemeyer’s Frankfurt office, who is heading the Monetization Service. “This recognition reflects our continued dedication to developing services to meet the needs of the IP industry. I am proud that our team’s hard work has distinguished itself.”
Our Monetization Service works as follows: it starts when Dennemeyer receives information about the patent(s); a patent number will suffice. This information is sent to selected external experts to perform an initial check on the assets’ sales potential. This check is free of charge and is not binding. If the feedback is positive, and after a service contract is signed, the patents will be offered to potential buyers. Only when a successful deal is closed, is a brokerage commission due.
The sales price of patent families is typically in the range of USD 10,000 to several million dollars, with an average around USD 300,000. However, the variability is large. The patent owner always remains in control over the selling price and to whom the patents are sold. When required, a license-back provision can be part of the sales contract.
For a successful sale, we have found that one should focus on patents and patent families with at least one granted US patent. The second best option is a German or European patent. Also, the remaining lifetime of the patent should be at least a few years out and, if the patent of interest does belong to a patent family, the whole family should be offered. All these points will help increase the chance of a sale, though, in general, opportunities are still limited. However, it is better to try to monetize rather than allowing the patent to lapse or become inactive.
Dennemeyer’s access to the major players in the patent market can help patent owners sell their patents. Dennemeyer annuity clients are automatically offered the Monetization Service at the time of patent renewal. All patent owners, regardless of current Dennemeyer affiliation, can take advantage of the Monetization Service.
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