Innovation Insider | June

What's New

1. Industry news: Jury finds Boeing stole technology from electric airplane startup Zunum
2. Press release: Patsnap has surpassed US$100M in Annual Recurring Revenue.
3. Join Patsnap and Barley Snyder for our upcoming webinar: Things to Consider When Bringing AI into Your Legal Practice
4. On-demand Webinar: Hydrogen Combustion Engines: The Automotive Future After Electrification?

What's new:

Industry news: Jury finds Boeing stole technology from electric airplane startup Zunum

In a recent court ruling, a federal jury in Seattle found that Boeing had misappropriated trade secrets and breached its contract with electric airplane startup Zunum. The jury awarded Zunum $81 million in damages, which the judge has the option to triple.

Zunum had alleged that while Boeing was ostensibly investing in the startup, the aerospace giant engaged in a "targeted and coordinated campaign" to gain access to Zunum's proprietary information and technology. Zunum accused Boeing of then using that information to develop its own hybrid-electric plane design, while also sabotaging Zunum's efforts to attract funding from other suppliers.

The jury determined that Boeing's actions were "willful and malicious," paving the way for potentially even higher damages. Boeing has stated that it "respectfully disagrees with the jury's verdict" and plans to pursue challenges to the judgment.

This legal setback comes as Boeing continues to navigate a challenging business environment, underscoring the importance of upholding the highest ethical standards in the aerospace industry.

Read more here

Celebrate with us: Patsnap has surpassed US$100M in Annual Recurring Revenue!!

We are thrilled to share with you that Patsnap has surpassed the significant milestone of $100 million in annual recurring revenue (ARR). This achievement is a testament to the hard work and dedication of our team, as well as the trust and support we have received from our growing global customer base.

As the world's leading intellectual property (IP) and R&D intelligence platform, Patsnap has solidified its position as a global leader in this rapidly evolving space. Our innovative solutions have become indispensable tools for organizations of all sizes, empowering them to make strategic, data-driven decisions that drive innovation and stay ahead of the competition.

"Reaching $100 million in ARR is an incredible accomplishment and a true reflection of the value Patsnap delivers to our customers worldwide," said Jeffrey Tiong, Patsnap's CEO and Founder. "This milestone fuels our continued commitment to providing the most comprehensive and cutting-edge IP and R&D intelligence solutions on the market."

(Read the full letter from Jeffrey T. here)

Over the past year, Patsnap has made significant investments in expanding our global footprint, enhancing our product offerings, and strengthening our team of industry experts. Some of our key achievements include:

• Opened new offices in Europe and Asia, further expanding our global reach and ability to serve customers locally
• Launched several new advanced analytics and AI-powered features to help our customers uncover deeper insights and make more informed decisions
• Welcomed renowned industry leaders to our executive team, bringing a wealth of expertise to drive Patsnap's continued growth and innovation

As we look ahead, we remain focused on our mission of empowering organizations worldwide to unlock the full potential of their IP and R&D investments. We are excited to continue our trajectory of growth and innovation, delivering even more value to our customers in the years to come.

On behalf of the entire Patsnap team, we extend our heartfelt gratitude for your continued trust and support. We look forward to working alongside you as we navigate the exciting future of IP and R&D intelligence.

Read the full press release here.

Webinar Recap:

Join Patsnap and Barley Snyder for our upcoming webinar: Things to Consider When Bringing AI into Your Legal Practice

In our upcoming webinar on June 26th, 2024, Patsnap and Barley Snyder will be diving into the strategic implementation of AI tools within legal practices, with a specific focus on maximizing patent law efficiency.

Key topics that will be covered include:

• Guidance on the evolving landscape of AI tools used by inventors and their potential impact on patentability
• How leveraging AI can optimize your patent search and review processes, leading to faster turnaround times and sharper insights
• The roadmap for AI-assisted attorney patent drafting
• Addressing privacy risks in AI-generated results in patent law

Our featured speakers, Carl Rost, Principal Consultant and Data Protection Officer at Patsnap, and Joe Falcon, Partner at Barley Snyder, will share their deep expertise and insights on navigating the challenges and opportunities of AI integration in the legal field.

This 60-minute webinar promises to provide valuable, actionable guidance to help your law firm stay ahead of the curve as AI becomes the new industry standard.

Sign up now to secure your spot and gain the strategic advantage your practice needs to thrive in the evolving legal landscape.

Sign up now >>

On-demand Webinar: Hydrogen Combustion Engines: The Automotive Future After Electrification?

In our recent on-demand webinar, we explored the emerging trends and applications of Hydrogen Combustion Engines (HCEs) in the automotive industry. Some key insights from the webinar include:

• The latest news and patent trends point to growing market interest and adoption of HCEs as a potential solution after electrification.
• Leading countries in HCE research and patenting include Japan, Germany, and the United States, indicating where commercialization opportunities may be strongest.
• Analysis of patent activity reveals key industry players who have been actively filing for HCE-related innovations, providing insider intelligence on market movers.
• Technical patent classifications shed light on the specific areas of HCE technology that are seeing the most development and commercial potential.

Overall, the webinar provided a comprehensive look at the current state and future trajectory of hydrogen combustion engines in the automotive space. If you missed it, you can access the on-demand recording by signing up now.

Don't miss out on these critical insights that can help you stay ahead of the curve.

Sign up to watch the webinar on-demand >>