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Patent Alert: USPTO launches a web-based marketplace platform to enable commercialization of US issued patents

On May 4, 2020, the United States Patent and Trademark Office (USPTO) launched a web-based marketplace platform, Patents 4 Partnerships, to enable patent owners who wish to license their US issued patents to connect with companies and individuals who wish to license those patents.  The platform allows users to search for available patents for licensing in a variety of easy-to-use ways, including by keyword, inventor name, assignee and issue date.  The platform is presently related to innovations directed to prevention, treatment, and diagnosis of COVID-19; however, it will likely expand to include other key technologies. 

This platform can be a great tool for startups and individual inventors wishing to use their patents to raise capital. Raising capital is one of the greatest challenges for startups and individual inventors.  With limited or no track records, it has historically been more difficult for them to commercialize their innovations and raise money.  This platform can provide them with the visibility they often seek for raising capital.  It enables them to more easily connect with the potential licensees or buyers and raise funds.

#startups
#inventors
#commercialization
#patents

 

About the Author

Babak Akhlaghi is an adjunct professor at University of Maryland, where he teaches legal aspects of entrepreneurship. Babak is also a registered patent attorney and the Managing Director at NovoTech Patent Firm, where he assists inventors in protecting and monetizing their inventions. He is also a co-author of the "Patent Applications Handbook," which has been updated and published annually by West Publications (Clark Boardman Division) since 1992. One of his distinguished accomplishments involves guiding a startup through the patent application process, which led to substantial licensing opportunities that significantly enhanced the company's strategic value.

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