“IP Storefront”: Brazilian PTO launches a platform for marketing industrial property assets

The Brazilian Patent and Trademark Office (INPI) has launched an innovative platform to facilitate the commercialization of industrial property assets. The service, known as “Vitrine de PI” (IP Storefront), is part of the “INPI Negócios” (INPI Business) program and consists of a virtual space where applicants and owners of patents, trademarks, computer programs and industrial designs can display their assets to anyone interested in acquiring them. Essentially, the IP Storefront allows potential buyers to easily identify industrial property assets that are available for purchase.

In the first phase of the initiative, which is already up and running at vitrine.inpi.gov.br, only patents and patent applications being processed are available on the platform. The INPI’s objective, however, is to expand the service to include other industrial property assets each year, with industrial designs scheduled for 2021, computer programs for 2022, and trademarks for 2023.

Each item advertised in the IP Storefront is linked to an INPI proceeding (either pending or concluded), which allows interested parties to have precise information about the IP asset.

In order to have the IP asset displayed in the IP Storefront, the holder shall (i) fill an electronic application form; (ii) pay official fees; and (iii) present a declaration that there is no exclusive license in relation to the IP asset. Upon review of the application by INPI, which can be monitored through INPI’s Revista da Propriedade Industrial (Industrial Property Gazette), the advertisement will be displayed in the platform. It is worth noting that the holder of the IP asset does not need to present any terms of the offer when registering in the IP Storefront, being free to further negotiate with interested parties.

In order to make the best use of the IP Storefront platform, INPI recommends that the information on the availability of the asset is frequently updated by the holder.

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