The Intellectual Property (IP) & Science business of Thomson Reuters, the world’s leading provider of intelligent information for businesses and professionals, announced a relationship with Syngenta, a leading agricultural company, to provide an integrated, enterprise-wide asset management solution. The agreement aims to standardize and centralize IP and legal contracting processes. It will support the development of integrated strategies, enable global collaboration across the different units of Syngenta and minimize risk.
As part of Syngenta’s search for a new intellectual asset management solution provider, the company engaged the Thomson Reuters IP management consulting team for a thorough business needs analysis and solution development program. The goal of this program was to better understand current and future business requirements, as well as opportunities for operational efficiency.
The Thomson Reuters consultants worked closely with leaders and change agents from across Syngenta to assess systems, define a long-term vision, and establish a configured solution that addresses people, processes and technology. Syngenta ultimately selected an enterprise-wide solution that included Thomson IP Manager because of its unique ability to link patent and trademark assets with contracts across product lines to form the “magic trio” of IP-contracts-products. In addition, the team chose IP Payments from Thomson Reuters to ensure accurate portfolio maintenance and legal services from the Thomson Reuters Legal Process Outsourcing (LPO) unit.
In a joint development project, Thomson Reuters and Syngenta designed a holistic solution that provided links between contracts, products and IP, improving the strategic deployment of legal, IP and licensing assets in support of Syngenta’s growth agenda, as well as improving quality of information and portfolio-level management data. The new platform allows full visibility and management of rights and risks in a rapidly growing and increasingly complex business environment; where there are multiple dependencies between IP rights, licensing, contracts and products.
Cynthia Murphy, senior vice president of IP Solutions at Thomson Reuters, said “The goal of Thomson Reuters, as the world leader in IP asset management, is to enable clients to manage their portfolio assets and minimize risk across all stages of the innovation life cycle. Our work with Syngenta exemplifies the value we provide international innovators and the mutual benefit reaped from such relationships.”
“The expertise, breadth of knowledge and collaborative spirit of the Thomson Reuters team, combined with the company’s world-class solutions and services, was an ideal complement to Syngenta’s IP and legal expertise,” said Pierre-Etienne Boin, head Agribusiness Legal and IP at Syngenta. “We look forward to a long relationship.”