Today is World IP Day! Every year, the IP community celebrates around the world, and this year the theme is the role IP plays in encouraging innovation and creativity. Yerra has been working on our own innovation within the IP field recently, developing a new and unique approach to creating, managing and maintaining what we call the ‘Magic Triangle’. What is the magic triangle you may ask? We see it as a holistic approach to managing and maximizing the value of an IP portfolio.
The three sides of the triangle are comprised of IP, Contracts and Products. IP professionals talk in terms of IP rights, patent families and Trademark protection. Business people talk of products, product expiry and market protection. Lawyers talk in terms of contractual obligations and expiries. Having the ability to link these various “languages” and data mine this information, from whichever side of the triangle required, is of considerable benefit to a company. Doing so better enables the company to realize the value of their IP and ensure the IP strategy is properly executed and delivers return on investment.
Traditional methods of compiling these relationships have been heavily manual. Yerra has developed a unique approach of automation, utilizing AI technology. This approach greatly reduces the effort to join the three sides of the triangle, from months to weeks. Considering the recent Pharma industry global Orange Book initiative, this innovative technology is the perfect solution to deliver the detailed reports required. IP is traditionally a slower moving sector, however with the increasing use of such innovative approaches, and the opportunity to employ AI, times are changing. Yerra looks forward to being at the forefront of that change.
Meet with us at INTA in Barcelona to learn more! Sign up for meetings here