Press release: Power Machines and Dentons complete reform of IP management system
August 18, 2020
Power Machines and Dentons complete reform of
IP management system
St. Petersburg, August 18, 2020 – Power Machines (Silovye Mashiny) has strengthened its leading position on the world power engineering market by completing a global reform of its intellectual property management system.
The St. Petersburg office of global law firm Dentons supported Power Machines on the project. The team included partner Victor Naumov, Head of the IP, IT and Telecommunications practice in Russia, counsel Anastasia Zagorodnaya, Head of the IP Management team in St. Petersburg, associates Svetlana Lialkova and Kseniia Smirnova, and paralegal Ilona Chernykh.
The reform carried out in 2019-2020 included improving existing business processes, rolling out new comprehensive business processes for technology and IP management, changing the patent strategy, and protecting design and technology documentation. Now all procedures, from the creation and acquisition to the exercise and protection of rights, have been systematized within a single automated IP Register tailored to the life cycle of power engineering products. The reform culminated in the launch of a training program for Power Machines’ employees.
Project manager Olga Fadeeva, Power Machines Deputy CEO and Legal and Personnel Director said, “Power Machines has accumulated a vast amount of developments, methods and technologies that make up the company’s intellectual capital. Thanks to the convenient, understandable and common IP and technology management system for all divisions, it will be much easier to for the company to present our developments to current and potential clients, while also protecting our IP rights.”
Dentons Partner Victor Naumov said, “In cooperation with the client, we have established a comprehensive framework for the protection of Power Machines’ unique experience and know-how. The new intellectual property management system will help drive the effective commercialization of the cutting-edge solutions created by the company.”
As a result of this innovative project, Power Machines took first place in the “Effective Intellectual Property Management” category of the “Best Legal Departments in Russia 2020” competition organized by Legal Insight magazine.
Dentons is the world’s largest law firm,* delivering quality and value to clients around the globe. Dentons is a leader on the Acritas Global Elite Brand Index, a BTI Client Service 30 Award winner and recognized by prominent business and legal publications for its innovations in client service, including founding Nextlaw Enterprise, Dentons’ wholly owned subsidiary of innovation, advisory and technology operating units. Dentons provides legal services to international and Russian corporations, banks and other financial institutions, private equity funds, state enterprises and non-profits. www.dentons.com
*The American Lawyer 2019 – Ranking of 100 international law firms by number of lawyers.
Power Machines is a global power engineering company and one of the world’s top-five industry leaders in terms of installed-equipment volume. It has developed a wealth of experience and expertise in the engineering-design, manufacturing and supply of equipment sets for thermal, nuclear and hydro power plants. The company’s core competency and competitive advantage extends to implementing integrated turn-key projects in the electrical power field. Power Machines JSC is a member of Severgroup LLC. www.power-m.ru
Olga Karavaeva, Head of Dentons’ St. Petersburg communications department
Tel.: +7 921 869 8230
Power Machines JSC
Maria Aleeva, Head of Public Relations and Advertising Department
Tel: +7 921 942 2295