Michael Lubitz, CEO and Chairman of Global Technology Transfer Group, Inc. (GTT Group), to Speak at USPTO Real Party in Interest Roundtable January 11, 2013
Global Technology Transfer Group, Inc. (GTT Group) announced that Michael Lubitz, CEO and Chairman of GTT Group, will participate at the United States Patent and Trade Office USPTO Roundtable in Washington DC on January 11, 2013.
GTT Group has expressed concerns related to competing government compliance requirements, materiality and confidentiality obligations, along with possible negative possible market impact related to strategic acquisition and market entry plans for entities wishing to reduce patent infringement related risk.
The USPTO is reviewing possible updates to the processes surrounding patent application and issuance and requirements regarding identifying the real party in interest as opposed to special purpose entities which are listed as assignees, but in fact are not the real owner. While GTT Group recognizes the need for transparency, the company is concerned about possible compliance conflicts, particularly in a transaction setting.
“We understand the need for and favor transparency,” Lubitz agreed. “Our concerns relate to unintentional consequences that may impact deal making and compliance issues related to the transfer of assets….”