Patent Library™ by Tynax Slashes the Cost of Securing Patent Protection for Startups and Provides a Welcome Return on Investment for Patent Holders

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Launched by Tynax Inc., a leading patent broker since 2003, the Patent Library currently has more than 30,000 patents available to members spanning many technology sectors. Greg Benoit, Tynax CEO says “we’re getting a very positive response to this initiative from patent holders and you will see the library grow to more than 100,000 patents by the end of 2017”.

Anyone that’s filed a patent will testify that the process takes years, costs money, and the results are unpredictable at best. Smaller companies often spend millions of dollars prosecuting patents of their own, but find those patents to be useless when they’re attacked by a competitor.

David Smith, founder & chairman of Tynax, says “one problem with patents is that you don’t know which ones you need until you actually need them”. Now members can simply check out patents from the Patent Library. “We can help members find the patents they need with pinpoint accuracy. It’s no longer necessary for startups and mid-size companies to spend huge amounts of time and money building their own patent portfolios.”

The Patent Library offers a welcome return for patent holders who earn revenues when their patents are checked out by Tynax members. “We help members choose from thousands of quality, mature patents”, says Benoit. Some of the patents in the Patent Library were developed by small companies and individual inventors, but Benoit points out that “some of the highest quality patents were developed by R&D groups in large corporations and research labs”.

When a company finds itself in a patent dispute, it needs patents covering inventions that have been adopted by its opponent. The Patent Library is built to accommodate research documents known as “claims charts” that identify where a patent could be used. “The Patent Library helps inventors monetize their patent assets, but also provides a marketplace where researchers can monetize their claims charts”, says Benoit. “The ability to search thousands of patents and claims charts is essential to matching members with the patents they need”.

Tynax Inc. is a Silicon Valley-based corporation that has been developing its online platform and brokering patent transactions since 2003.

“Patent Library” is a trademark of Tynax Inc.

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