Private companies have grown accustomed to fierce competition for patent ownership and licensing rights in recent years, but some surprise public sector entities could soon be entering the fray. According to Reuters, South Korea and France have each launched state-sponsored patent acquisition companies with the intent of supporting domestic technology firms and potentially generating revenue in the process.
"It is still in an incubating stage and focusing pretty much on aggregating intellectual property," South Korea's Knowledge Economy Minister, Park Jong-Pil, told reporters in reference to his team's latest venture. "It is not close to a stage of earning big revenues or identifying entities violating our patents or taking legal action."
According to Reuters, injecting public sector influence directly into the intellectual asset marketplace could have significant geopolitical consequences, including inhibition of multinational initiatives such as digital piracy prevention and cybersecurity assurance.
There is also some debate as to whether these new state-sponsored entities can stay true to their promises and rise above contentious litigation. According to Apple Insider, SHIELD Act sponsor Congressman Peter DeFazio has taken a particular interest in this new development and may ultimately look to extend legislative provisions aimed at discouraging frivolous lawsuits to cover non-practicing entities from the public sector as well.