Do you think that patents are complex, costly and a burden to deal with? They sometimes can be, but they can be so much more. Do you want to make patents work for you instead of against you? In order to do so, you need to have a good, custom made IP strategy in place. An IP strategy, tailor made to suit the needs of your company, can ensure that you get the most out of patents. Such a strategy will include your company’s strategy on trademarks, copyrights, domain names, legal issues and patents.
Regarding the latter, a patent strategy should at least comprise: i) how to deal with patent intelligence (what are others doing with patents?), ii) if and how to build and defend your own patent portfolio (what are you doing with patents and against others infringing your patents?), and iii) how to establish if you are free to operate (what to do or not to do against rights of others?).
Regarding patent intelligence (i) firstly we would like to draw your attention to our other blogpost and to our whitepaper. Depending on your business model and the area you are active in, obtaining your own patents might either be not worth while at all or be extremely important. Patent portfolio management (ii) includes identifying possibilities to filing patent applications based on own research, based on collaborations or perhaps by licensing in or acquiring patents or companies with patents. Patents may block others from entering the market, will help in raising funds for example because they provide a certain amount of assurance to possible investors. Patents also help in contract negotiation, such as cooperation or technology (cross-)licensing and may provide additional revenue across multiple markets that you alone may not be able to reach otherwise.
There are many tools available to make patents work for you instead of against you. However, there are so many options that it is nearly impossible as a company to handle this yourself. Good advisors are crucial in understanding your business and building a strategy that works for you and your business.
There are many IP specialists out there and you need to decide what would suit your needs best. Most (SME) companies work together with one IP firm that handles all of your IP needs and that has specialists in a variety of technical fields as well all IP fields, such as trademarks, copyrights, patents and legal matters. When selecting an IP firm, you need to consider that it is the actual people there that will help you. To have a good match is very important, since professionals that listen to you will understand what you need. Together you can review which of the many tools are most important at a certain stage in your business and together you can start building a strong IP strategy and a long-lasting relationship.
At AOMB we have technical specialist in all fields as well as full IP service ranging from trademarks to patents and from legal to plant breeders rights. Please review our whitepaper for more information. If you wish to meet us in person, please contact us to schedule an appointment.