Data Science Investment Counter —Funding raised by UK data science companies in 2018.
£ 5.640 Million

IPwe and ANYFIVE team-up to offer the first Blockchain & AI patent business platform

Global patent transaction platform IPwe and ANYFIVE, a company that integrates Research and Development and intellectual property rights solutions have partnered up to simplify patent transactions.

The companies intend to combine blockchain and artificial intelligence (AI) to reduce frictions within the patent ecosystem and facilitate the growth of patents on a global level.

“ANYFIVE recognised early on that AI will impact the way patents are managed, transacted and financed,” said ANYFIVE’s CEO, KJ Kim. “We are excited to partner with IPwe’s transactional expertise. It will allow us to help Korean patent owners unleash the potential of their patent portfolio while reducing the cost of ownership. At the same time, IPwe will propel our own AI solutions on the global market.”

The company developed a blockchain expertise in 2017, Brian JANG, ANYFIVE VP for International Development said: “With IPwe, we will be able to deploy a blockchain-based platform and transform it into benefits for the patent ecosystem”.

With this partnership, ANYFIVE will become a key service partner of the IPwe Platform and IPwe serves as an offshore partner for ANYFIVE’s solutions, hosted on the IPwe Platform. ANYFIVE will maintain a market share of nearly 80% in the Korean patent management solution market. Because of this, the formation of the alliance between the two companies is expected to bring about a significant impact on the global IP market.

“Korea is a pivotal market,” said Vince Fritzsimmons, IPwe’s COO. “We are thrilled to partner with the expertise and market reach that ANYFIVE brings.”

Commenting on the partnership, Erich Spangenberg, IPwe‘s CEO, concluded: “A day will come when patents will be treated as a standard asset class by investors and finance executives. IPwe and ANYFIVE are making this a reality.”

Image via Pixabay/senjinpojskic.

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