Ford Motor Co. to Offer Electric Vehicle Patents to Competitors

IP News

The IP monetization movement continues to grow around the globe and many of the world’s largest companies are utilizing their intellectual property to either give their revenue an additional boost, or in some cases, to help them stay afloat in their increasingly competitive industries. More and more, monetizing or commercializing intangible assets, or IP, is becoming an effective method to create new revenue streams and boost a company’s bottom line. One of the latest companies to embark on such an effort is one of the world’s largest automakers: Ford Motor Co.

Ford Looking to Monetize its IP

In this latest move involving IP trading, the U.S. auto manufacturer, based in Michigan, has announced that it plans to offer up more than 400 patents that are associated with its electric vehicle technology. That means Ford is going to allow its competitors access to these technologies, which the company claims is for the purpose of giving the electric car industry, and its technology, a surge. According to reports, the 400+ patents are just a small portion (about 20 percent) of the total number of patents the company owns in relation to its electric vehicle technology portfolio. Ford claims to already own 650 issued patents in the electric vehicle category, with another 1,000 patents in this category still pending.

Technology Up for Grabs

According to Ford, some of the technology that the company will make available includes a patent that covers an invention that is designed to increase the life of the battery in an electric car. Another available patent helps maximize the energy that is captured in hybrid vehicles through a method known as regenerative braking. The company also plans to offer another patent that monitors driver input on both acceleration and braking and then gives the driver feedback from the data collected.

Is There More Electric Vehicle Technology to Come?

Meantime, Ford appears to be serious about its push to further advance electric vehicle technology. The company also announced that it plans to hire at least 200 more electric vehicle engineers this year alone, which they plan to dedicate solely to developing and advancing electric vehicle technology. Of course, that means in the future that Ford could add many more patents to its electric vehicle portfolio, and in turn, sell or license those to its competitors.

IP Brokering Deals to Be Done

This latest news from Ford represents yet another example of the growing trend in IP monetization and IP brokering. Companies from all types of industries and from all sizes are taking a closer look at their intangible assets and trying to determine how they can profit from them. If your company owns intellectual property, you too could add to your revenue streams by selling or licensing your IP. Likewise, if you are interested in starting or growing your IP portfolio, there are more and more companies looking to sell or license their IP. You can contact IPTrader below if you need help with either of these goals, or click here to send us you