Changes

Ideally, companies are able to reduce costs during product development by using The creation of patent pools to share intellectual property assetsmainly benefits the owners of complementary patents. Patent pools would be able to increase efficiency Complementary patents cover multiple technologies protected by separate patents required for the development of a specific new product, and positively affect therefore, necessitate shared licensing [http://www.wipo.int/export/sites/www/ip-competition /en/studies/patent_pools_report.pdf (WIPO)]. Cross-licensing between companies in a patent pool facilitates building upon previous technologies and increases the efficiency of innovation. [http://www.wipo.int/export/sites/www/ip-competition/en/studies/patent_pools_report.pdf (WIPO)] . In a situation in which two companies own different IP assets that are not enough to create specific products, these companies would be blocking each other's patents and preventing the introduction of an innovative product or service to the market. Patent pools deals with these inefficiencies by organizing complementary IP assets under one contract. [http://www.wipo.int/export/sites/www/ip-competition/en/studies/patent_pools_report.pdf (WIPO)] Complementary patents cover multiple technologies protected by separate patents required for the development of a specific new product, and therefore, necessitate shared licensing [http://www.wipo.int/export/sites/www/ip-competition/en/studies/patent_pools_report.pdf (WIPO)]. Cross-licensing between companies in a patent pool facilitates building upon previous technologies.