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Samsung Opens up its Patent Business in the US

The South Korean giant, Samsung has decided to open up a patent office in the United States. Known as Intellectual Keystone Technology(IKT) the patent business was formed after an investment of $25 million.

May 27 2013, 5:53am CDT | by

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Samsung Opens up its Patent Business in the US
 
 

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Samsung Opens up its Patent Business in the US

Samsung Opens up its Patent Business in the US

Samsung’s patent office in the USA has just been given a boost by the formation of IKT. Located in Washington DC, the development of patents began in March. The main reason behind the whole effort was the pursuit of creativity as well as a stand to protect intellectual property via patent copyrights. According to The Korea Times, the upsizing of this patent enterprise required an initial surplus of $25 million which were sacrificed for its sake. Whether it will pay off in the future remains to be seen. The previous year, Samsung was involved in a court dispute with Apple in which the benefit of the doubt was given to Apple.

However, the set up known as IKT is not in response to this particular defeat. Rather it is an independent act carried out in order to enhance the image and productivity of Samsung. The business deals with display units instead of smart phones. The latter were the focus of litigation between Apple and Samsung. In particular, this business has everything to do with OLED and LCD display unit patents. Already it has made a mark upon the market situation by buying patent rights from Seiko Epson. The display technology manufactured by Samsung holds the lion’s share in the market.

Previously, Samsung was the provider of smart phones to Apple but the US giant turned to Sharp instead.There has been talk concerning a licensing policy with regard to patents. If this happens it can spell trouble for Samsung. The company already has a record number of patents in Europe. It is a growing phenomenon that has gained the attention of other envious enterprises. That means that they will be on the lookout to harm it in any way they can. There is the economic dictum of one’s gain being the other person’s loss. While cooperation may seem an ideal route to take, it is a fact that if everybody owns it nobody takes care of it. This was seen in the case of Communism, which proved to be a failure as a philosophy.

Samsung will have to tread carefully for there lie pitfalls on the way to a more prosperous and enlightened future. Other than that the giant will progress with the times since its slogan of “everyone’s invited” spells democratic ideals and a free approach of attitudinal change.  

Image Credit: Getty Images

 

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