How Korean electronics manufacturer Top Engineering is working with CPA Global to monetize its substantial IP portfolio and create the foundation for future product development.
ABOUT TOP ENGINEERING
Korea-based Top Engineering was formed in 1993 as a supplier to the semiconductor industry with a particular focus on developing components for use in the manufacture of LCD video displays. In recent years, the company has ventured into the LED and OLED lighting industry. With clients including such household names as Samsung Electronics and LG Display, Top Engineering is one of the world’s largest and most respected electronics companies.
- Patent and Trademark Renewals
- Develop a more efficient renewals process that eliminates the risk of allowing a valuable patent to inadvertently lapse
- Accurate invoicing and timely payment of patent renewals
- Access to patent landscaping and competitor analysis tools to gain a competitive industry advantage
- Identify opportunities to license/sell non- core IP assets and to acquire relevant patents from other companies
- Risk substantially mitigated in management of company’s IP portfolio
- Significant reduction in IP management and renewals costs
- Opportunity to outsource recordals and data verification work enables in-house team to focus on higher value, more strategic work
As an established manufacturer of components for the LCD and video display industry since the 1990s, Top Engineering has an expansive IP portfolio of some 1,400 patents. Since this industry is now very mature and highly commoditised, the company about 10 years ago changed the direction of its IP strategy, choosing to license many of its patented technologies and rights to other companies while investing heavily in the development of alternative business fuels.
In support of this approach, the company has implemented a more protective IP management strategy, using a selection of patent landscaping and analysis tools to help develop the technologies that will form the foundation of its future product development. Top Engineering recently assigned responsibility for managing the renewals of its entire worldwide patent and trademark portfolio to CPA Global.
Monetize an existing and mature portfolio; protect new IP assets
In addition to mitigating the risk associated with managing the annuity payments for its portfolio of some 1,400 patents in the saturated LCD and video display industry, Top Engineering is leveraging CPA Global’s international network to identify opportunities to monetize its IP assets through the licensing or sale of non-core patented technologies.
In the emerging field of alternative business fuels and LED and OLED lighting, however, Top Engineering is focused on developing a patent portfolio that will enable the company to capitalize on the opportunities this industry will provide in the future. In this regard, Top Engineering is looking to both rigorously protect its core IP assets as well as develop a product innovation strategy that will enable it to remain one step ahead of the competition.
To achieve this goal, the company not only needs to ensure that its IP management strategy is closely aligned with its overall business objectives, it must also constantly scan and analyse the competitive landscape to monitor the development of key technologies and the activity of major competitors. In addition to its own substantial R&D initiatives, Top Engineering continues to grow through mergers and acquisitions.
Outsourcing the more time-consuming administrative tasks associated with such activities, including the verification of patent data and management of IP ownership changes across multiple international jurisdictions, allows its in-house team to focus on more strategic work while ensuring that the company does not lose any legal rights to the patents and other IP assets it has acquired.
Worldwide network of expertise creates foundation for future success
Global access to IP management experience and expertise
Through its association with CPA Global, Top Engineering has been able to leverage the knowledge and experience of the company’s international team of patent experts as well as its unrivaled business network. This is especially important in helping Top Engineering develop its business internationally.
Significant savings in patent renewals fees
Assigning the responsibility of managing the annuity payments for its patent and trademark renewals to CPA Global both mitigated the risk of lapsed patents and significantly reduced costs.
In-house teams can focus on more substantive work
Following a merger or acquisition, outsourcing the time-consuming administrative tasks to CPA Global helps improve operational efficiency and allows in-house staff to focus on more strategic, higher value tasks.
Competitive advantage in an emerging industry
Leveraging CPA Global’s industry-leading decision support and patent analysis tools enables Top Engineering to develop a detailed understanding of the patent landscape within key industry sectors. This information influences future product development and patent protection strategies.
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