Identifying and harnessing the potential of innovation with Intellectual Property lawyers Marks & Clerk.

Technology is changing the way we live. From mobile devices that allow us to connect and collaborate globally, to the ever-growing array of connected and smart devices known as the “internet of things” – there are few corners of human life untouched by tech.

In the “industrial internet of things,” (IIOT) sensors are key to technology-led change. These changes track the performance of pumps and valves, averting failure, or accidents before they happen. They assess real-time information on the operation and condition of bearings in rotating equipment. Sensors play a central role in facilitating the technological revolution known as Industry 4.0.

A business capitalising on these trends is Tribosonics. Innovation led and with a strong challenger mind-set, Tribosonics drives transformation through unique sensor technologies. Their technology addresses challenges in tribological contacts (wear, friction, and lubrication) in rotating equipment. The company designs, develops, and deploys innovative ultrasonic sensing technologies to extract powerful data in Industry 4.0/IIOT applications. They partner with key industrial equipment manufacturers to add value in design and validation, field troubleshooting, condition monitoring, and product development. Located and forged in Sheffield, the company now serves global markets in Transport, Power Generation, and Manufacturing.

Currently, the Tribosonics team focuses on ensuring a strong growth strategy. Safeguarding underpins this strategy and unlocks the potential of their innovation. To realise this strategy is where intellectual property (IP) comes in.

As explained by Jack Sands, Innovation Manager at Tribosonics:

“Innovation is central to what Tribosonics does and we have always been willing to push the boundaries.  We work in highly innovative applications, in markets such as transport, power generation, and manufacturing. Therefore knowing the real-time operational parameters and conditions is crucial. Sensors are vital not only in predicting systems failure but also in tracking performance. From this, we see areas for improvement and new value streams created.

We resolve to build on the centrality of innovation to our business and culture and develop ways to further harness the benefits of innovation.”

Unlocking Potential

Alongside hiring an Innovation Manager, Tribosonics has further invested in the value of its innovation. Bringing intellectual property specialists on-board, Marks & Clerk, the value of their innovation can be unlocked. Marks & Clerk are one of the world’s leading IP firms with offices across Europe, Asia, and North America. Their expertise in IP ranges from patents to trade marks in a wide range of technical disciplines.

With the help of Stephen Blake and Andrew Hartley from Marks & Clerk, the Tribosonics team has worked to embed a culture of innovation and IP which works to generate the key technologies which underpin the commercial direction of the company. This includes exploring how the company generates its IP, how that IP is captured and safeguarded, and how it is utilised to realise the goals of the business.

The challenge here is cultural as well as technical and the team from Marks & Clerk has also delivered training for Tribosonics’ staff including IP war games, complementing Tribosonics’ introduction of new practices such as a weekly ‘Ideas Factory’ as well as helping to build mechanisms to identify, capture and protect IP. Also crucial to this is working with Marks & Clerk to devise strategies that allow Tribosonics to further capitalise on existing IP by, for example, licensing it to customers as part of a technology offering.

In summary it is a create, capture and commercialise process.

Steve Blake, Partner at Marks & Clerk’s Birmingham office, said:

“Tribosonics is well placed to capitalise on some of the big technological trends that are reshaping the world. Innovation alone however is not enough – protecting that innovation with IP, and driving commercial outcomes is also important.

IP is more than simply protecting an idea from being copied. It is also an asset for a company that can be hugely valuable. Whether it is a start-up looking to raise money from investors or a multinational preparing for floatation – much of the value of a company will be accounted for by its IP.

It has been great working with the team at Tribosonics to help unlock the value of their IP, leading to further commercial opportunities and growth.”   

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