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Patent Monetization by Value Integration for New IoT Business Development Case Study
Alex G. Lee (alexglee@techipm.com)
https://www.linkedin.com/today/author/2853055
Even if the Internet of Things (IoT) gets a huge attention recently, the conceptof interconnected devices and
connecting billions of devices to the internet in the IoT is not new and has been researched for over 10 years. Thus,
there may be a large number of patents (that were not intended for specific IoT application at the time of invention)
that can be exploited for developing new IoT business by forming the strategically packaged patent portfolio for
providing the new IoT value propositions. The strategically packaged patent portfolio is the collection of the
existing patents that can be exploited for developing new products/services (and thus, new business) by integrating
the value propositions of each patent of the portfolio. The strategically packaged patent portfolio can be used for
monetization through patent sale, patent licensing, commercialization, spin-off, patent banking, and financing.
Mitsubishi Electric Research Laboratories (MERL) is the North American arm of the corporateR&D organization
of the Mitsubishi Electric Corporation. MERL conducts application motivated basic research and advanced
development. Total of 1000 MERL issued patents and published patent applications are reviewed for finding the
good candidates for strategically packaged patent portfolio. MERL patents covered several IoT related applications:
Wireless & Optical Communications (IoT Connectivity), Power Distribution System (Smart Grids), Vehicle
©2015 TechIPm, LLC All Rights Reserved http://www.techipm.com/
2
Control/Information System (Connected Cars), Electronic Devices (IoT Sensors)and Building Automation (Smart
Home). Through the IoT application motivated analysis for the IoT related patents, the strategically packaged
patent portfolio regarding the IoT connected electric cars can be formed. The strategically packaged patent
portfolio consists of 23 patents that cover the Intelligent Driver/ Navigation Support System, Safety/Collision
Avoidance System, Vehicular Networks, Autonomous Driving System, Voice Control System, and Wireless
Charging System.
Followings summarize some examples of the key MERL patents for the IoT connected electric cars.
US20150134244 illustrates the navigation system for predicting travel destinations (e.g., mostfavorite destinations
for the driver) according to a history of destinations. The navigation system uses a prior driving history or habits.
This information is used for making predictions for the current destination desired by a user of the vehicle. The
information can be segregated into distinct user profiles and can include the vehicle location, previous driving
history of the vehicle, previous searching history of a user of the vehicle, or sensory input relating to the
characteristics of the vehicle.
US8831290 illustrates the vehicle safety system that uses the vehicle-mounted camera to detect obstacles near
vehicles. The vehicle safety system detects people and obstacle near moving vehicles, particularly in constricted
©2015 TechIPm, LLC All Rights Reserved http://www.techipm.com/
3
environments such as garages, loading docks, drive ways, parking lots, and generally roads, etc., when the vehicle
is backing up.
US8233389 illustrates the congestion control protocolfor vehicular ad-hoc networks (VANET). The congestion
control protocolextracts and stores local network information, i.e., node density and aggregate data rate,
neighboring node information, number of successes and failures in reception, for incoming and outgoing messages.
It also keeps track of node status. The protocolperforms congestion control, admission controland rebroadcast
control operations.
US20150259007 illustrates the method for a semi-autonomous driving of a vehicle with a steer-by-wire system
having a steering wheel mechanically decoupled from vehicle wheels determines values for the steering angle and
the wheels angle tracking a target value of the wheels angle received from a semi-autonomous driving planning
(SADP) system.
US9159317 illustrates the automatic speechrecognition system that can provide the speechrecognition while
placing low cognitive load on a user.
US8674549 illustrates the system that can exchange energy wirelessly via a coupling of evanescent waves.

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Patent Monetization by Value Integration for New IoT Business Development Case Study

  • 1. ©2015 TechIPm, LLC All Rights Reserved http://www.techipm.com/ 1 Patent Monetization by Value Integration for New IoT Business Development Case Study Alex G. Lee (alexglee@techipm.com) https://www.linkedin.com/today/author/2853055 Even if the Internet of Things (IoT) gets a huge attention recently, the conceptof interconnected devices and connecting billions of devices to the internet in the IoT is not new and has been researched for over 10 years. Thus, there may be a large number of patents (that were not intended for specific IoT application at the time of invention) that can be exploited for developing new IoT business by forming the strategically packaged patent portfolio for providing the new IoT value propositions. The strategically packaged patent portfolio is the collection of the existing patents that can be exploited for developing new products/services (and thus, new business) by integrating the value propositions of each patent of the portfolio. The strategically packaged patent portfolio can be used for monetization through patent sale, patent licensing, commercialization, spin-off, patent banking, and financing. Mitsubishi Electric Research Laboratories (MERL) is the North American arm of the corporateR&D organization of the Mitsubishi Electric Corporation. MERL conducts application motivated basic research and advanced development. Total of 1000 MERL issued patents and published patent applications are reviewed for finding the good candidates for strategically packaged patent portfolio. MERL patents covered several IoT related applications: Wireless & Optical Communications (IoT Connectivity), Power Distribution System (Smart Grids), Vehicle
  • 2. ©2015 TechIPm, LLC All Rights Reserved http://www.techipm.com/ 2 Control/Information System (Connected Cars), Electronic Devices (IoT Sensors)and Building Automation (Smart Home). Through the IoT application motivated analysis for the IoT related patents, the strategically packaged patent portfolio regarding the IoT connected electric cars can be formed. The strategically packaged patent portfolio consists of 23 patents that cover the Intelligent Driver/ Navigation Support System, Safety/Collision Avoidance System, Vehicular Networks, Autonomous Driving System, Voice Control System, and Wireless Charging System. Followings summarize some examples of the key MERL patents for the IoT connected electric cars. US20150134244 illustrates the navigation system for predicting travel destinations (e.g., mostfavorite destinations for the driver) according to a history of destinations. The navigation system uses a prior driving history or habits. This information is used for making predictions for the current destination desired by a user of the vehicle. The information can be segregated into distinct user profiles and can include the vehicle location, previous driving history of the vehicle, previous searching history of a user of the vehicle, or sensory input relating to the characteristics of the vehicle. US8831290 illustrates the vehicle safety system that uses the vehicle-mounted camera to detect obstacles near vehicles. The vehicle safety system detects people and obstacle near moving vehicles, particularly in constricted
  • 3. ©2015 TechIPm, LLC All Rights Reserved http://www.techipm.com/ 3 environments such as garages, loading docks, drive ways, parking lots, and generally roads, etc., when the vehicle is backing up. US8233389 illustrates the congestion control protocolfor vehicular ad-hoc networks (VANET). The congestion control protocolextracts and stores local network information, i.e., node density and aggregate data rate, neighboring node information, number of successes and failures in reception, for incoming and outgoing messages. It also keeps track of node status. The protocolperforms congestion control, admission controland rebroadcast control operations. US20150259007 illustrates the method for a semi-autonomous driving of a vehicle with a steer-by-wire system having a steering wheel mechanically decoupled from vehicle wheels determines values for the steering angle and the wheels angle tracking a target value of the wheels angle received from a semi-autonomous driving planning (SADP) system. US9159317 illustrates the automatic speechrecognition system that can provide the speechrecognition while placing low cognitive load on a user. US8674549 illustrates the system that can exchange energy wirelessly via a coupling of evanescent waves.