GenIP shares ticked higher on Tuesday after announcing it has signed a strategic alliance with Cardinal Intellectual Property, one of the largest IP services firms in the United States, giving the AIM-listed technology consultancy a direct route into the US corporate market for its AI-driven analytics tools.
The deal establishes a reciprocal resale relationship, with both companies selling each other’s products and services into their respective client bases.
GenIP points to clear benefits for both companies. For GenIP, that means accelerated access to Cardinal IP’s roster of Fortune 500 corporations, government agencies and leading law firms.
In return, Cardinal IP gains access to GenIP’s international network spanning more than 25 countries, extending its reach beyond the US market at no capital cost.
Cardinal IP carries significant weight in the sector and will bolster GenIP’s offering to both corporates and universities.
Underscoring its industry prowess, Cardinal was selected by the US Patent and Trademark Office to perform Patent Cooperation Treaty search services and offers a broad suite of professional services, including patent searching, managed docketing, AI patent drafting, and IP annuity payments.
Melissa Cruz, CEO of GenIP, said: “This Alliance with Cardinal IP gives GenIP a credible distribution route into the corporate enterprise segment, the largest and most recurring part of the global IP services market.
“The fee structure is commercially grounded, with fees reaching up to 30% on AI-enabled drafting services, and the performance incentive built into the agreement ensures both parties are motivated to convert introductions into revenue. We have designated commercial teams on both sides and a clear go-to-market approach, and we look forward to adding value to both organisations and positioning GenIP at the forefront of the global IP services industry.”
There is no indication yet of what the deal could mean for GenIP’s revenue. But the global IP services market exceeds $25bn annually, with the AI-enabled segment projected to surpass $8bn by 2030. Even a small proportion of this market could be a step change in revenue generation for the company.