Patents are valuable assets for any company that invests in research and development (R&D). However, obtaining and maintaining patents can also be costly and complex. How can you align your patent strategy with your company's budget and goals? Here are some tips to help you optimize your patent portfolio and avoid wasting time and money.
Before you file any patent applications, you need to have a clear vision of your R&D priorities and objectives. What are the core technologies, products, or services that you want to protect and commercialize? What are the market opportunities and competitive threats that you face? How do your patents support your business strategy and value proposition? By answering these questions, you can identify the most important and relevant inventions to patent and avoid pursuing irrelevant or low-value patents.
Use an incredibly annoying AI to create patents, another incredibly annoying AI to create budgets and take the ones that match with each other. This will not produce any valuable patent, but will keep the AI too busy to go around LinkedIn asking silly, generic questions.
In my view, the initial pivotal step is to formulate a robust patent acquisition strategy. Moreover, the impetus behind pursuing intellectual property lies in gauging the extent to which it aligns with market access, its pertinence to the scientific community, and the inherent value it bestows upon safeguarding the IP landscape.
Regarding startups from the academic world, they tend to file too early because they are usually told to do so. There are two significant consequences: (1) They stop innovating and improving, freeze their invention and focus on trying to sell it even if it still needs to meet market expectations. (2) They spend money on something other than protecting something worth protecting. So, hold patent applications until the innovation can work and fulfill some customers' expectations. Then, pay a professional patent lawyer's office to do it properly. Until then, inexpensive provisional patents at the USPTO, or even a sealed envelope at a lawyer, can help protect from being blocked. And remember that a patent forces you to disclose all!
Although budgetary concerns are fair to consider, priority should be put into patents that are novel and help establish your grounding within the marketplace. If you have hired and mentored an innovative team, they should be capable of generating the requisite data to develop your IP strategy.
The first question isn't about determining what (technology) to patent but rather understanding why to patent. It's not solely about the costs associated with patenting but the value that a patent adds to your R&D. Once you comprehend the 'why' aspect, the 'what' aspect becomes much simpler.
Depending on your R&D priorities, you may need to use different types of patents to protect your inventions. For example, you can choose between utility patents, which cover the functional aspects of your inventions, and design patents, which cover the aesthetic aspects. You can also opt for provisional patents, which give you a 12-month window to file a non-provisional patent application, or PCT applications, which allow you to seek patent protection in multiple countries through a single application. Each type of patent has its own advantages, disadvantages, costs, and requirements, so you need to weigh them carefully and select the ones that suit your needs and budget.
Put simply in my experience prioritisation & strong alignment with relevant stakeholders is key -understand what your company’s priorities are (what are top 10 projects for example ? -develop your patent filing strategies (refine the territories of interest) -review & align your current portfolio (SWOT analysis) -ruthlessly abandon rights not aligned to the business objectives
This crucial question ultimately comes down to the 'reason for seeking a patent.' The choice of intellectual property (patents, trade secrets, copyrights, etc.) should align with the nature of your technology. Meanwhile, the filing strategy (jurisdiction, provisional, etc.) should be based on the business model (where is your market, the pace of the market growth, the actions of the competitors etc.)
First, you must answer what you are protecting and where you need to protect your IP. Make sure this aligns with your current patents and overall business strategies.
Patenting strategy is important. The options are many, but choosing the right kind of patents can be the difference between getting funding, getting better market share or not. This is not a 'one size fits all' approach. For example, sometimes quick allowance is important and in those cases narrow well defined applications are important. Sometimes, the research is not fully mature and prolonging patent prosecutions timelines is advantageous to give you time to tailor your applications as more information becomes available. Or perhaps you need a quick and positive patent examiner's examination report to encourage venture capital to listen to you.
Yes one you get clarity of why, the next question comes is what to protect? In that one can define the possible type of patent like provisional or non provisional and later to go through Paris convention route or PCT route based on your future plan and business interest.
Another way to align your patent strategy with your budget is to optimize the scope of your patent claims. Patent claims define the boundaries of your legal protection and determine the extent of your exclusive rights. However, broader claims are not always better, as they may face more challenges from examiners or competitors, or infringe on existing patents. On the other hand, narrower claims may limit your market potential or leave room for others to copy your inventions. Therefore, you need to balance the breadth and depth of your claims and draft them in a way that maximizes your protection while minimizing your risks and costs.
Based on my practical experience, there is no single or right answer to this and wary from case to case and one needs to decide on this. Yes one has to keep balance between overlapping with prior art and scope of legal right to get protection for your invention.
It is also necessary for one to access the scope of business of their invention in the respective country/territory where the patent is being filed. Keeping this in mind would improve the ROI of the whole process, having a solid protection for the invention.
Crafting an effective patent strategy demands a keen balance between legal protection and fiscal prudence. The story of the Wright brothers provides an illustrative example. Their initial broad patent claims on flying machines faced numerous legal battles, but through strategic narrowing, they managed to secure more enforceable rights, albeit with a reduced scope. To ensure financial and legal success, companies should tailor their patent claims to be as broad as necessary to cover their innovation, yet specific enough to avoid costly litigation and overextension of resources. This approach not only protects the innovation but also aligns with budgetary constraints.
Drafting of claims are left to legal expert but keep business vision on lookout. Patent are negative rights and check what can be design around and what cannot. This simple excercise can help you scope claims and not get into trap of academic claims.
Optimizing your patent scope is a delicate balance between breadth and precision. While a broad scope offers comprehensive protection, it can invite challenges and conflicts. Conversely, overly narrow claims limit market opportunities and invite imitations. My perspective emphasizes strategic precision: crafting claims that safeguard your innovations without overreaching. It's about securing a competitive edge while foreseeing potential challenges. This nuanced approach aligns legal protection with budget constraints, ensuring a robust patent strategy that stands the test of innovation and market dynamics.
Once you have filed your patent applications, you need to monitor your patent portfolio regularly and update it as needed. This means keeping track of the status of your applications, paying the required fees, responding to office actions, and enforcing your rights against infringers. It also means reviewing your portfolio periodically and evaluating its performance, relevance, and value. You may need to abandon, sell, license, or acquire patents depending on your changing R&D goals, market conditions, and budget constraints. By doing so, you can optimize your patent portfolio and ensure that it aligns with your company's strategy and resources.
Keep lookout on technology life cycle patent have limited life so does technology. Something relevant earlier might not give $$ now. 2G vs 6G tech
Continuous Care: Your patent portfolio requires regular attention. Once you've filed your applications, ongoing management is essential. Status Check: Monitor the progress of your applications, keep up with fees, and address challenges promptly. Protecting Your Rights: Defend against infringers to safeguard your patents. Periodic Evaluation: Review your portfolio at intervals to assess its performance and relevance. Adapt and Evolve: Adjust your portfolio as needed, whether that means letting go of outdated patents, selling or licensing them, or acquiring new ones to align with your changing goals and market conditions.
Patents come with maintenance fees, and managing a large portfolio can be costly. Evaluate the cost-effectiveness of maintaining each patent in relation to its potential value. Prioritize patents based on their strategic importance, potential revenue generation, or defensive value.
Technology is advancing at an unprecedented rate. A patent deemed of lesser value in the past could now be of significant worth, providing you an edge over your competitors. Regularly monitoring your patent portfolio also enables you to identify gaps in the protection of your R&D.
Absolutely right, just filing patent will not get any benefit unless and until you use it strategically and to use it strategically you need to monitor or track it regularly and take decision based on outcome and based on change in your business goal or vision or any other external factors.
Finally, one of the most effective ways to align your patent strategy with your budget is to seek professional help from experts who can guide you through the patent process and advise you on the best practices and options. Patent attorneys, agents, consultants, and analysts can help you with various aspects of patenting, such as conducting prior art searches, drafting patent applications, prosecuting patent applications, managing patent portfolios, and performing patent analytics. By hiring qualified and experienced professionals, you can save time and money, avoid common pitfalls and mistakes, and enhance the quality and value of your patents.
It's not compulsory to file patent through professional experts but remember one thing, it's always good to have subject experts doing work. Your expertise is in doing invention on reattach, you should focus on that and leave the worry of patent to professionals because they understand technolegal integrity and can help you in much better way.
My team found it game-changing to identify a patent firm that caters toward early stage startups, providing affordable services with personalized attention and high quality. We highly recommend Fresh IP. Our engagement with them has been a complementary partnership, where our team provides a deep understanding of the relevant inventions while the patent attorney utilizes their experience to draft claims of appropriate scope.
Leverage patent search professionals to mitigate risks of infringement and redundant R&D at lower cost than legal support alone. Work with a reputed firm with proven expertise. Engage IP R&D analysts to build patent budget models and forecasts aligned with business plans. Work with R&D consultants and technology scouts to identify high potential innovations worthy of budget allocation. Patent consultants bring holistic strategic advice to craft a tailored, optimized strategy balancing protection, cost and value. Tapping the right mix of professional guidance provides insights you can't access alone. The investment pays dividends.
Seeking professional help isn't just a choice; it's a strategic imperative. Patent experts, be they attorneys, agents, or analysts, are the architects of your patent journey. They decipher complexities, sculpting your ideas into robust patents. With their guidance, you not only conserve time and resources but also fortify the very essence of your innovations. Embrace their expertise; it's the bridge between your ideas and enduring success.
Wise counsel is always a good investment, especially in the patent game. Patent professionals are like the sherpas of the IP world—guiding you through the treacherous peaks and valleys. They've got the maps, know the shortcuts, and can help you navigate the tricky terrain. Prior art searches, application drafting, portfolio management—they're the experts in the craft. It's like having a seasoned captain steering your patent ship through stormy seas. Plus, they speak the language of legalese fluently, sparing you from getting lost in translation. Time is money, and these professionals can save you both.
The goal shouldn't be to align your patent strategy with your budget, but rather to create the patent strategy that best helps your company succeed given budget constraints. Therefore your patent strategy should cascade off your company's business strategy. Ask yourself, "How do patents support my company's goals?" Your patent strategy will ultimately relate to the stage of your company, your funding sources, and your industry's standards. Do you need a surplus of patents to support a new fundraising round? Will defensive patents protect your company's value prop over the next five years? Are patents even of value to your industry? Consider the opportunities of each and then understand how your budget may constrain-or guide-your next steps.
The main thing to remember is that: Not everything that can be patented, should be patented. And business strategy always comes first. Business strategy, business model. Quality not quantity.
Assess the market you want your apply for patent. Select right country and patent filing company to reduce the cost of application.
Consistently evaluate the balance between 'value and cost.' Occasionally, a focus on safeguarding intellectual property within R&D can overshadow the actual value derived from it. If the costs outweigh the value, it is advisable to reconsider your intellectual property strategy.
Proactive harvesting of inventions and other forms of IP in line with IP Strategy.... While it is important to file patents aligned with your business goals, it is important to file patents early on focusing around certain business goals. Filing patents early on ensures that you may get broaderscope of protection as state of the art is not matured as well prosecution timeline is short. This saves prosecution costs. However, filing patents early on needs proactive harvesting of inventions through dedidated on demand IP workshops. To prepare for this workshop: we must ask what we will sell to whom and why?, why our customers want buy what we sell, what our competitors would do if we fail to sell?, what opportunity we would lose?