Technology companies IBM and Microsoft have helped to set up a global database aimed at improving accuracy of patent information.

 

The Open Register of Patent Ownership (OROPO), launched on 15, is a database in which patent owners can record updated information about their patents for free.

 

The idea behind the database’s creation is that current records on patents at intellectual property offices are inaccurate.

 

According to the report “Who Owns the World’s Patents?” which was put together by IP management company Aistemos, one in four records of patent information, such as ownership and class information, is incorrect.

 

Furthermore, the report states that 95% of companies surveyed believe that greater transparency would increase the number of licensing deals.

 

Manny Schecter, chief patent counsel at IBM, said: “OROPO is a simple solution to a complex and longstanding problem. Greater transparency around patent ownership is vital to eliminating transactional inefficiencies and enabling a patent system that runs optimally for every constituent in the system.”

 

(Source: WIPR)