IPR supports iLOQ’s expansion into the US market
As we discussed in our recent blog post, an extensive patent portfolio is essential to protect iLOQ’s technology and the results of our product development. We chose from the very beginning to partner with Kolster who, as one of the most experienced IP specialists in Europe, can also ensure the level of protection is scaled up to meet the demands of our global business.
iLOQ’s ambitious aim is to be the market and technology leader in battery-free smart locking on every continent. For two decades, we have had a strong foothold in Europe, and, in the last few years, we have expanded to the Middle East, Canada and, most recently, the USA.
“Traditional mechanical locking is still going strong in the US. However, regulatory changes are supporting the shift from mechanical to electronic locking,” states Joni Lampinen, General Manager, iLOQ USA.
“The size and design of US locks differ from those in Europe. Starting a business in the US is therefore a much bigger investment and a much larger project than opening a branch in a new European country. iLOQ stands out in the US market because our competitors’ digital solutions are still battery-powered or require an external power supply. This makes it even more important to maintain our advantage by protecting our unique technology,” he continues.
Well-managed IPR is a prerequisite for business
iLOQ’s IPR portfolio, built together with Kolster, consists of patents, trademarks and design patents. They secure the core of our business – our technological innovation and development. A well-managed IPR portfolio sures up our entry into the US market and sends out the message that we are a worthwhile investment prospect and trustworthy partner.
“It was important to find an IPR partner who is familiar with the legal requirements in all our markets. And we found that partner in Kolster. We operate in the security business, where market-specific certifications, registrations and approvals play a key role. These must be in place for us to be perceived as a reliable operator. And, in the US, legal costs can be high; a large patent portfolio gives us leverage in negotiations in the event of a dispute,” Joni Lampinen emphasizes.
As a company that has been built on a pioneering invention, we have understood from the outset the importance of protecting our innovation and the significance of IPR assets. And we will continue to do so as we grow in the US market and continue our expansion throughout the rest of the world.