One of the benefits of filing for a patent for your innovation is the ability to keep track of what your competitors are doing within the same IP space. When you apply for a patent, you must file an IDS, or Information Disclosure Statement where you cite prior art. Prior art is patents or other intellectual property that you drew upon to create your innovation, and is relevant in determining whether your invention is “novel.”
As part of my work with the National Science Foundation Small Business Innovation Research Program (SBIR), I recently organized an all-day Technology Commercialization Workshop at MIT. Later, during a follow-up speaking engagement, I focused on intellectual property strategy at the NSF SBIR Phase 2 conference in Baltimore.
Product development is an expensive venture. On one side, there are the costs of researching the market and developing the solutions; on the other, there are the costs of protecting those innovations through obtaining patents.
Categories: Patent Cost, R&D
When you have a truly innovative idea, it’s only natural that you would want to protect it. Nothing is worse than fleshing out a concept during brainstorming or ideation sessions, only to find that someone has beaten you to the punch.
Categories: IP Innovation
The question many businesses ask shouldn’t be “how much would maintaining our patent portfolio cost?” Instead, the savvy corporation knows that the amount of money that could be lost due to neglecting their patent portfolio is not a risk they’re willing to take.
Categories: Patent Analysis
When your corporate strategy doesn’t involve moving your IP considerations to the front of the M&A process, you will, at some point, face particular consequences.
Microsoft today announced that it would provide indemnification to users of its Azure cloud services who get sued for patent infringement. Fear of intellectual property litigation has the ability to curtail innovation, in this case due to companies’ concern about adopting Microsoft’s Azure service.
Categories: Patent Strategy
High-profile intellectual property purchases have been in the news a lot lately. First, there’s Google, which has turned its focus to buying up patents left and right in an effort to protect their innovations. There’s also Facebook, which recently plunked down a large chunk of change for messaging app WhatsApp. We also mentioned Unilever’s massive purchase of Dollar Shave Club in a previous blog.
Categories: Patent Strategy, Patent Analysis
All too often, companies face disruptive innovation from their competitors. And all too often, they combat the problem by simply copying the new technology. Whether they roll out a similar product or service, or they throw money behind developing their own version, these companies will spend the majority of their existence simply chasing others.
Categories: Innovation, IP Research
Whether you take a proactive approach or not, intellectual property is a big part of your corporate strategy. Your choice to take a proactive approach can help you drive revenue and growth—or you can spend your time following your competitors and fighting off litigation. In other words, you can create a sustainable competitive advantage, or you can find contentment being second best (at the very best) while giving up your market share.
Categories: Patent Strategy, IP Research
