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As companies strive for growth and new sources of value creation, many are turning to their IP portfolios as an asset base for exploitation. Managed intelligently as part of the corporate strategy, IP can become a key driving force behind revenue-generating transactions, provide lucrative licensing opportunities and be securitized against investment. However, if companies are to realize value from their IP, they must first ensure that their housekeeping is in order. Underestimating the importance of IP data management can be a risky business, particularly when it comes to licensing or merger and acquisition (M&A) activity.

No one admits to being a patent troll, but everyone knows they exist. Where are they hiding and what do they do? Join James Nurton on a quest into the deepest, darkest reaches of patent law to find out

A monthly column devoted to IP curiosities and controversies, named in honour of John of Utynam - who received the world's first recorded patent in 1449

AUSTRALIA: The Attorney-General unveiled far-reaching copyright reform proposals on May 14. There will be two new exceptions for private use – allowing TV and radio programmes to be recorded and watched or listened to once only at a later time and allowing copies of copyrighted material to be made in a different format. But the government said it will also introduce a range of new measures including on-the-spot fines and the opportunity to recover profits from copyright pirates, as well as making it easier for copyright owners to prove ownership of their rights and giving more power to Customs.

The Enlarged Board of Appeal has laid down the criteria that allow a practitioner to assess whether a diagnostic method is excluded from patentability under Article 52(4) EPC. In Opinion G1/04 of December 16 2005, the Board sets a liberal standard for the patentability of diagnostic methods.

Once again the Swedish legislator has looked into abolishing the traditional teacher's exception, which gives Swedish university researchers and teachers full ownership and control of their research results. The inquiry addresses a few interesting questions, and was motivated by the finding that not enough research results from Swedish universities are used, either commercially or any other way that benefits the surrounding community.

James Nurton, Toronto

The Act transposing the European Directive on the legal protection of designs (98/71/EC of October 13 1998) to national Spanish law entered into force on July 9 2003.

The Indian courts, as well as granting permanent injunctions and general damages that are compensatory in nature, also grant punitive damages, which aim to be a deterrent. Punitive damages were granted in Time Incorporated v Lokesh Srivastava & Anr (2005 (30) PTC 3 (Del)), where the court held that punitive damages were founded on the philosophy of corrective justice and so must be awarded to show wrongdoers that the law does not take a breach merely as a matter between rival parties but is concerned about those who are not party to the proceedings but suffer on account of the breach.

A group of anti-counterfeit offices (Desks) will be established in nine non-EU countries within the next couple of months, thanks to a recent agreement between the Italian Ministry of Productive Activities and the Italian Institute for Foreign Trade (ICE).