Willis Group Holdings, a global insurance broker, has partnered with Innography, a provider of business intelligence solution, to launch an enterprise-wide business intelligence solution Willis PatentWize, as part of its strategy to help companies better manage their intellectual property (IP) risks.
Willis will offer a suite of technology, consulting and risk transfer solutions that will provide a complete approach to intellectual property risk management. The broker’s strategy is built around Willis PatentWize, designed to help companies of all sizes gain a better understanding of their IP risks.
According to the Willis, Willis PatentWize, powered by the Innography software platform, establishes a new standard for dealing with IP risk by providing rapid and relevant insights based on the automated correlation of patent, trademark, legal, financial and other key information.
Willis claimed that the intellectual property risk management solution will improve the strength and marketability of new technologies and inventions; identifies the emerging industry trends, opportunities and threats; discloses the preempt points of exposure to litigation; reveals critical details when evaluating merger and acquisition candidates and partnerships; conducts required portfolio reviews and compliance audits; and facilitates intra- and cross-organizational collaboration and reporting.
The insurance broker added that Willis PatentWize combines dozens of patent, trademark and business data sources from more than 70 countries to generate interactive visualizations that make IP research and analysis more efficient and cost-effective. It initially will be offered to Willis clients in North America starting August 17, 2010 with the potential for future global expansion.
Don Bailey, chairman and CEO of Willis North America, said: “Our partnership with Innography and the launch of Willis PatentWize is a crucial step for Willis to develop a robust platform to help companies manage and mitigate their intellectual property risks.”
Robert Lynch, CEO of Innography, said: “As a CEO, I understand the critical role that risk and intellectual property plays in corporate strategy. It is a frequent challenge shared by everyone with board responsibilities, regardless of the industry. By partnering with Willis, we are innovating to directly address these customer pain points and introduce a new standard in IP risk analysis.
“Powered by Innography, Willis PatentWize reinforces this customer commitment by delivering a robust, reliable solution so organizations have a leading edge when acquiring, enforcing and managing their strategic intellectual property investments.”