Patent strategies are increasingly significant to the success of information age businesses, from affecting valuations to gaining tax advantages to increasing the starting price per share. Patent Strategy demonstrates the impact patents can have on technology-driven businesses' strategic and tactical efforts. Here is step-by-step guidance to the patent process, the laws, and basic strategies-from a business-goal perspective-so that middle and upper-level managers can recognize the significance of patents in relation to a particular business and can incorporate proper patent management efforts into their business framework. Patent Strategy aims to guide your thinking about intellectual property and help you develop strategies to maximize its value. It will introduce you to the practical steps required to develop and maintain good patent applications and patents, from early concept planning through the product life-cycle. It aims to guide and advise you in plain English on the legal complexities you're likely to encounter while developing new technology and preparing patent applications. Further, Patent Strategy will explain the inventor's responsibilities after patent application and will explore the savvy inventor's role in maintaining a global patent portfolio.
To draw up a clear patent strategy seems to one of the most important tasks to do when starting up a company. A patent must be regarded as a strategic asset aimed at improving the competitive advantages and the earning capacity of a company, for example by:
- Securing a technological platform for a future development
- Preventing competitors from gaining access to emerging markets
- Creating retaliatory power against competitors
- Preventing innovative products from being plagiarized
- Increasing the goodwill of the company and its products or services
- Making it possible to take part in technology transfer agreements
- Securing a revenue from the licensing of patented technology
The main objective of patent management is obtaining and maintaining patents. This process involves various technical, legal and business skills. Identifying, developing and assessing the technology involved in a given patent naturally needs some amount of technical knowledge. Legal expertise is often beneficial, but not compulsory, to complete a patent application and maintain it. As a final point, maximizing the profits of the patent is the responsibility of businesses. While several professionals are often involved in obtaining and maintaining patents, it is also possible for the individual inventor to do the work himself. Patent Management brings structure to your patent application preparation, filing through maintenance and prosecution processes. The system automates docketing; drafts submission, formal documents preparation, review and approval processes; divisional, continuation and CIP approvals; international filing review and approval processes as well as streamlines your annuity review and approval process.