inovia Celebrates Seventh Anniversary with Industry Leader Status

inovia coordinates more national stage filings than any law firm worldwide - revenue has grown by 95% in the last year.

New York, New York - April 22, 2009 - Today inovia, specialists in coordinating PCT national stage entry and European patent validation for patent firms, companies and universities, celebrated its seventh anniversary. The inovia team is marking this occasion at a time when year on year revenue is growing by 95%, enabling the company to retain the industry leader position it has held since March 2008.

"When I started this company in 2002 out of my house in Sydney, Australia, I couldn't have anticipated that in seven years we would be the number one co-ordinator of PCT national stage filings worldwide, with offices in New York, London and Sydney," said Justin Simpson, founder and executive director at inovia.

Among inovia's major accomplishments:

- September 2003: Recognized in WIPO's list of PCT Notable Inventions

- May 2004: Opening of New York office

- February 2006: Received BRW Upstarts 2006 Award - Australia's 50 fastest growing companies 

- May 2007: Opening of U.K. office

- August 2007: Client list topped 500, comprised of attorney firms, companies, universities and inventors.

- September 2007: Winner of Red Herring 100 Asia Award

- October 2007: Launch of EPVALIDATION Service

- October 2007: Expanded agent network into 56 countries 

- March 2008: Became the number one coordinator of PCT National Stage entry worldwide.

David Nelson, CEO at inovia, notes that while the company has gone from strength to strength in the last seven years, with a market share of one percent, there is still plenty of room for growth. "We are actively reaching out to new markets - both by industry and organization size -- with our pctfiler and epvalidation products," said Nelson. Adding, "Interestingly, the current economic climate has provided opportunities for inovia because patent owners, organizations of all sizes and universities are looking for ways to save on their foreign filing costs and are turning to us. Developing relationships with these clients now positions us well for long-term growth when the economy recovers."
 

Founder, Justin Simpson notes that while new clients are coming to inovia in droves, existing clients are scaling back on the number of countries they are entering. "About a year ago our clients were filing into an average of six foreign countries. In the last few months these numbers have dropped to four," he said.

Simpson's comments are consistent with the World Intellectual Property Organization (WIPO)'s observations about PCT filings in late 2008. They attribute the seven per cent slowdown in growth of the number of international applications filed under the Patent Cooperation Treaty between 2007 and 2008* to the dire global economic situation.

Coincidentally WIPO's World Intellectual Property Day - celebrated every year on April 26 - falls in the same week as inovia's anniversary.