Philips' Ruud Peters Discusses IP Standards and Innovation
Posted on Thu, Dec 15, 2011
This fall, Ruud Peters, Executive VP and CEO of Philips Intellectual Property and Standards (IP & S), spoke before an audience at the 100th anniversary of the Norwegian Industrial Property Office.
Philips is a worldwide leader in innovative IP, owning over 54,000 patents. Since 1999, Mr. Peters has led the IP & S group at Philips, bringing an already-IP savvy company to the forefront with new plans for creating value through IP licensing and standards. Philips has also been a champion of open innovation efforts, most recently backing the launch of IPXI, the world’s first IP exchange.
Corporate IP Landscape
In his speech, Mr. Peters outlined the changing face of IP. He touched on the increasing value of IP across the full length of the supply chain, and the importance of creating and protecting industry standards. He also spoke on the importance of open innovation and on the issue of litigation brought by non-practicing entities.
Speaking about existing solutions to the litigious advances of non-practicing entities, Mr. Peters stated that “every action has a counteraction” and that people now “get creative” in order to deal with the problem. As examples of this counteraction, he alluded to the current companies that Philips works with, including RPX and yet2.com. He explained that those companies strategically buy, license, and sell high-risk patents in order to lower the risk held by corporations.
Mr. Peters also referenced the Article One community. Mr. Peters cited the AOP community of Researchers and the Litigation Avoidance product as "new ways in the market to cope with the increased activity in patent trading and patent assertions." This was in contrast to the "catch and release" strategy of the other options for IP protection.
Here is the full presentation, with Article One mentioned at the 13th minute.