A new virtual patent marking (VPM) tool is looking to make its mark with a beta launch targeted at patent owners, in-house counsel and patent attorney firms.
Called Markr, it has been built by the team who developed Terrifio, a London-based client viability tool for IP attorneys and law firms.
Markr automates repetitive tasks required for VPM, maintains an audit trail, and says it increases public access to patent information.
Jim Gastle, Co-Founder of Terrifio and Markr, says the new tool is also useful for SMEs and “high-tech businesses”.
Gastle has 25 years’ experience as a Registered Patent Agent in Canada and works with US patent attorneys.
He explains: “Those that do not have a VPM page are missing the opportunity to provide the earliest possible constructive notice of patent rights provided by the VPM regulations available in both the US and the UK.
“US patent litigation can take several years to get to trial and can drag on for years more in appeals. Such litigation is costly and disruptive for all businesses. I have seen through my clients what a devastating effect patent infringement actions can have, in terms of time and both financial and emotional burden.
“Without a VPM program, companies are eroding considerable value and leverage in damages tied to an earlier constructive notice date. These businesses are self-limiting of the potential damages from the date of sending an actual notice letter and not from when the patent was issued, potentially leading to huge loss in money damages. This can have a dramatic effect on settlement leverage, as well.”
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Via Markr, users can build lists of their patents and pending applications and ‘link’ each patent with associated product(s). Once complete, users download a populated VPM notice page including caveats that is posted to a VPM URL on their website.
Users complete the VPM requirements by adding the VPM URL to online product information and labels on the associated products. Regular updates are scheduled to the VPM notice page to reflect changes in their patent portfolio and associated products.
Markr can be used as a standalone platform or integrated with other tools in Terrifio’s suite of IP-oriented SaaS software. Following the initial free beta period, the pricing for Markr will be linked to “various usage metrics”.
VPM does have some history. It first became available in the US in 2011 and in the UK in October 2014.
Patrade, a Danish legal services firm, explains that according to US and UK statutes, VPM places the patent infringer in a position of “bad faith” if certain conditions are met.
For example, the contents of the linked website must be accessible to the general public free of charge and without any other hindrances.
Patent numbers must be stated clearly and correctly.
In addition, the individual products must be clearly identified and associated with their respective patent numbers in the list of IP rights on the website, specifically stating the product name and product code.
