International law firm CMS has joined forces with patent AI specialist IPDefine to unveil CMS Umbra, a groundbreaking turnkey solution set to democratize intellectual property monetization. By harnessing IPDefine’s cutting-edge AI innovation and CMS’s legal prowess, CMS Umbra empowers businesses to assess, optimize, and monetize their patent portfolios at an unprecedented speed and low cost.
Intellectual property’s potential for profit often remains untapped due to inefficient management. CMS Umbra addresses this by applying AI to the process, providing businesses with a transparent view of risks and opportunities associated with their patent portfolios. Toby Sears, IP Partner at CMS, emphasizes the aim to actively contribute to business success by enabling informed, strategic decisions on IP portfolios.
As per the World Intellectual Property Organization (WIPO), there are approximately 16 million granted patents worldwide, the majority are registered for defensive purposes. Joel Vertes, IP Partner at CMS, highlights the risks of insufficient patent portfolio management, ranging from reputational damage to unnecessary costs. CMS Umbra offers a rapid, data-filtering, and analysis solution to overcome cost and complexity concerns.
CMS Umbra encourages businesses to shift their focus from maintenance to monetization, transforming patent portfolios from cost centers to profit leaders.
IPDefine CEO Aaron Mollin emphasizes CMS Umbra’s power in providing accurate valuation and strategic insights on patent portfolios, including infringement discovery technology to identify potential infringers.