PharmaTelevision - Patrick O'Reilley, Partner at Finnegan discusses how open innovation fits in relation to the globalization phenomenon

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Video title: Patrick O'Reilley, Partner at Finnegan discusses how open innovation fits in relation to the globalization phenomenon

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In this episode of PharmaTelevision News Review, Fintan Walton talks to D. Patrick O'Reilley, Partner at Finnegan

Full video transcripts are available with PharmaTelevision Premium Content. Click here to buy a subscription or sign up for a 14 day free trial.

Open innovation

Fintan Walton:

Hello and welcome to PharmaTelevision News Review here at LESI's Conference in London 2011. On this show I have Patrick O'Reilley, who is a Partner at The Law Firm Finnegan based in Washington, welcome to the show.

Patrick O'Reilley:

Thank you very much.

Fintan Walton:

Pat, as well as been a partner of Finnegan you also the past President of LESI, you've been a past President of LES USA and Canada and so you've a lot of experience if I could say in the whole filed of licensing and in the prosecution of IP as I understand it, from your perspective I'd like to talk about open innovation, and the first question from me is really how would you describe open innovation? What is open innovation?

Patrick O'Reilley:

You know it's probably a terminology to define a business plan, a business approach to innovation. It's really a return to the way it used to be in kind of corporations until perhaps the early 20th century used to get their inventions or developments from outside in research institutions or development labs, but in the 20th century they internalized their research they started developing their labs for example and most corporations had huge research and development activities internally, but they believed at that time that you would direct that research better it was also better from a competitive point of view, because they didn't have to compete for that technology and that probably peaked in the 1970's or early 80's and ever since then companies have realized that they no longer can compete doing their own internal research and they've had to go outside and that outside is part of open innovation instead of they not invented hero syndrome now it's looking for technology from outside the company. The other side of open innovation is taking the intellectual assets that they have internally but are not using and leveraging that into money by licensing that technology to others.

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Fintan Walton

Dr Fintan Walton is the Founder and CEO of PharmaVentures . After completing his doctoral research on the genetics of cell proliferation at the University of Michigan(US)and Trinity College (Dublin, Ireland), Dr Walton gained broad commercial experience in biotechnology in management positions at Bass and Celltech plc (1982-1992).

Patrick O'Reilley

Partner

Patrick O'Reilley focuses his practice almost exclusively on transactions involving intellectual property and technology transfer. He counsels large and small clients on many types of transactions ranging from simple license agreements to complex research and strategic marketing collaborations; strategies for exploiting intellectual property to achieve desired business goals; and intellectual property-related agreements, such as employment, consulting, joint R&D, license, marketing and distribution, supply, and collaboration. He also has experience in creating standards-based patent pools. In addition to his transactions-based practice, Mr. Patrick O'Reilley guides clients through disputes arising from technology transfer contracts and helps clients formulate, negotiate, and prepare agreements settling disputes. Mr. Patrick O'Reilley represents clients as licensors and as licensees in all industries that employ technology transactions, including biotechnology, telecommunications, computer technology, pharmaceuticals, and consumer products. Professional Highlights Taught licensing for 20 years at George Mason University Law School and for 30 years as CLE for Patent Resources Group. Designated as a Certified Licensing Professional (CLP). Professional Recognition Listed in Intellectual Asset Management (IAM) Magazine as one of 250 leading IP strategists, 2009 and 2011; and as one of 250 of the world's leading patent and technology licensing practitioners, 2010. Professional Activities Licensing Executives Society International (president 2009-2010) Licensing Executives Society, USA & Canada (president, 2004-2005) The District of Columbia Bar Bar Association of the District of Columbia American Bar Association American Intellectual Property Law Association

PharmaVentures

PharmaVentures is a corporate finance and transactions advisory firm that has served hundreds of clients worldwide in relation to their strategic deal making in the pharmaceutical, life science and healthcare sectors. Our key offerings include: Transactions / deal negotiations; Product / technology valuations; Deal term advice; Due diligence & expert reports; Strategy formulation; Alliance management; and Expert opinion for litigation/arbitration cases. PharmaVentures provides the global expertise to ensure our clients generate the highest possible return on investment from all their deal making activities. We have experience of all therapeutic areas and can offer advice on both product and technology commercialisation.

Finnegan

Finnegan: With more than 375 intellectual property lawyers, Finnegan is one of the largest IP law firms in the world. From offices in Washington, DC; Atlanta, Georgia; Cambridge, Massachusetts; Palo Alto, California; Reston, Virginia; Brussels, Belgium; Shanghai, China; Taipei, Taiwan; and Tokyo, Japan, the firm practices all aspects of patent, trademark, copyright, and trade secret law, including counseling, prosecution, licensing, and litigation. Finnegan also represents clients on IP issues related to international trade, portfolio management, the Internet, e-commerce, government contracts, antitrust, and unfair competition.