Patent Purchase Program to Begin Soon

Want to sell your patent?  Several multinational firms including IBM, Facebook, and Ford are participating in a program called the Industry Patent Purchase Program (IP3).  It is being run by a non-profit organization called Allied Security Trust. 

It is essentially a take it or leave it proposition where the patent owner offers for sale their patent and any of the participating companies have the option of purchasing it.  The participating companies are primarily focused in the technology and automotive sectors.  The areas innovation in which they are most interested include:  

• computers and software;
• consumer electronics;
• communications;
• semiconductor & components;
• healthcare & medical;
• automotive;
• lighting; and
• financial services.

The range of value of any one patent is not certain.  However, Google ran a similar program last year and spent between $3,000 and 250,000 on patents with the average price being about $48,000.

The window of opportunity for submitting an offer is between May 25, 2016 through June 8, 2016.  The submission form and further details can be found here. 

So for any patent owner out there who has had difficulty trying to get the attention of the corporate world, now is your chance.

Capitalizing on innovative developments is critical to any organization.  Having the right person to help you make those decisions is important.  The Law Office of Kathleen Lynch PLLC is designed to help businesses such as yours keep ahead of the game.   The first telephone consultation is free.  Email us at klynch@kliplaw.com.

MIT Develops Second Skin

Hold off on scheduling that facelift.  Researchers at MIT (Massachusetts Institute of Technology) have developed a compound that acts like a second, more youthful skin.  The composition is known as XPL (cross-linked polymer layer).  It is applied to the skin in two steps.  First, a layer of transparent cream is applied to the skin.  Then a catalyst is applied. The catalyst binds the cream to the skin as a transparent film. 

While XPL has obvious applications as a wrinkle cream, it may also be used as an SPF and to treat certain skin conditions such as dermatitis or psoriasis.   The video demonstrating the cream’s performance can be viewed here.

Protecting your innovative developments is critical to any organization.  Having the right person to help you make that decision is important.  The Law Office of Kathleen Lynch PLLC is designed to help businesses such as yours keep ahead of the game.   The first telephone consultation is free.  Email us at klynch@kliplaw.com.

After a Long and Winding Road, Beatle Reclaims Publishing Rights

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Paul McCartney is using a US Copyright provision to right a wrong he feels occurred many years ago.  As you may recall, the bulk of the Beatles tunes were attributed to the duo of John Lennon and Paul McCartney.  However, in the 1960’s, Paul McCartney and the other Beatles lost their publishing rights to many of their songs when ATV, a publishing company created by the Beatles, their manager and some of their investors, was sold without the knowledge of the band members.

At one time Yoko Ono, John Lennon’s widow and McCartney tried to purchase ATV for 20 million dollars.  The deal fell through and Michael Jackson purchased ATV for 47.5 million in 1985.  McCartney may now be able to reclaim those rights 56 years later.

Rather than let it be, McCartney filed a “notice of termination” with the US Copyright Office.  This enables a songwriter to reclaim ownership in publishing rights for a song anywhere between 2 to 10 years before the 56 year lapse of time after the publication rights were originally sold.  Some of the songs won’t be eligible for release until the singer is 83. 

What’s the take away here.  Any artist, author or creator of a work protected under copyright law should understand those rights .  In addition, anyone who may have an interest subject to copyright law should think carefully about corporate structure and where the ownership of the intellectual property should be held when forming a new business.  This often takes the form of an IP holding company.  Situations may vary, but who will own the rights in the copyright and how the business will be structured should be well thought out when setting up any business.

 Protecting your innovative developments is critical to any organization.  Having the right person to help you make that decision is important.  The Law Office of Kathleen Lynch PLLC is designed to help businesses such as yours keep ahead of the game.   The first telephone consultation is free.  Email us at klynch@kliplaw.com.