VISION AND MISSION
Innovation enhances consumer welfare
Innovation is responsible for new products and services that improve lives and address unmet needs, and is essential to sustain economic growth and global competition. It involves a series of steps from idea to commercialization, each of which can be expensive, risky and unpredictable.
Patents Promote innovation
To mitigate the risk involved in the innovation process, patents help innovators to recoup their investment in research and development by excluding others from making, using or selling a patented invention for 20 years.
The Patent System
The patent system is based on the balanced Notice and Remedies mechanism. While the Notice protects competitors’ interest, requiring patentees to inform the public of what technology is protected, the Remediesawards patentees with damages and injunctions following a court finding of patent infringement.
The System’s Inefficiencies
Unfortunately, both the Notice and the Remedies mechanisms are ineffective. Operating companies end up infringing many patents, while patentees' fair reward is obtained only through lengthy and expensive litigation. These problems are far more severe in high technology industries where open innovation is a common practice.
Fixing the System
In open innovation industries where firms develop technologies and products that incorporate ideas originated by others, easy access to licenses is essential for social growth. SynPat was created for operating companies of all sizes who respect the intellectual property rights of others. We believe that such companies should be given a fair opportunity to acquire licenses to patents that legitimately cover their activities – on reasonable terms.
Open Licensing Community
The Open Licensing Program provides technology companies with a unique platform they can use not only to simply and efficiently monetize their own patents in a safe environment, but also to acquire licenses and expand their freedom of operation, under fair, reasonable, and nondiscriminatory terms.
Best Practice Solution
Realizing that an aggregation model could prevent our interests from aligning with the community we serve - operating companies selling patents or buying licenses, we created a the Open Licensing Program, which not only provides solutions to high-risk problems, but also puts us and our clients on the same side of the table at all times. Our revenues come neither from transaction arbitrage nor from membership or subscriptions fees of any kind. Rather, they are uniquely aligned with both the sellers and the participating licensees.