Patent pooling: Uncorking a technology transfer bottleneck and creating value in the biomedical research field

Abstract

Patent pools have long been used to collect intellectual property rights into a basket of rights that can facilitate the licensing thereof. By pooling relevant patent rights together, the out-licensing is streamlined and made more cost efficient. Many recent patent pools involved establishing and administering patents that meet an established industry standard and then granting non-exclusive licences to the patents that are considered essential to that standard, eg consumer electronics. While there are few, if any, established industry standards in biomedical research, there are opportunities to pool intellectual property rights that facilitate cost-efficient technology transfers and foster better research.