It certainly has been challenging being part of a small technology company – the highs\/lows of the business world – where is the next big market, managing budgets, hiring, etc.\u00a0\u00a0Lots of changing parts and modified strategies along the way.\u00a0<\/p>\n
Interestingly, as I look back, the one key, non-wavering item has been our focus on maintaining and expanding\u00a0our intellectual property portfolio.\u00a0 It has continued to be a strong asset for our business and one that is certainly not for the faint of heart.\u00a0 While it is a significant cost item for our business, we’ve been able to garner value from it, due to its broad reach on various methods and systems within our technology markets.\u00a0 As I look back, I’ve learn a number of things about the whole patent process and, while I’m not a lawyer, I thought I’d share some of these experiences with you (loved to get your thoughts and comments)<\/p>\n
1) Keep your claims as broad as possible – the market always changes.<\/em>\u00a0 Its been interesting looking back at the diagrams and claims that we worked on back in 2000.\u00a0 While the original intent for many ideas are as clear in my head as the day we wrote them, their applicability in today’s market (only after 6 years) is almost a lifetime away.\u00a0 The technology market changes so dramatically, and specific ideas certainly come and go.\u00a0 Always try and keep your ideas as broad as possible.\u00a0 This will hopefully give you the flexibility to capture your “likely modified” idea today and provide you the necessary IP coverage as your business moves forward.<\/p>\n 2) Know where you want your IP coverage, geographically speaking.<\/em>\u00a0 Many ideas have applicability for specific geographies.\u00a0 other ideas are global.\u00a0 While your budget often dictates where you can go, but in the event money is no issue, make sure you do the research and understand where your IP will have the biggest impact.\u00a0<\/p>\n 3) Budget accordingly<\/em>.\u00a0 Patents can be costly.\u00a0 It is extremely important to determine if you have the budget for your ideas and understand what the costs are when determining your IP portfolio – both in the number of patents and where you are filing them geographically.\u00a0 For example, in Europe, you are able to file for a EP patent that will cover many European countries (around 20) through a single filing.\u00a0 However, many of those countries require translation and other filing fees – in fact we just got a EP accepted recently with totally cost on our approved EP patent (for those roughly 20 countries) around USD $60,000 for just translation, filing and other fees.\u00a0<\/p>\n 4) Do it yourself<\/em>.\u00a0 One way to cut costs is doing certain parts of the IP process yourself.\u00a0 As many of you know, in the US, the first key step\u00a0in getting a patent is filing a provisional patent.\u00a0 Many companies hire lawyers and have them fill these simple forms out, while your IP bill starts increasing.\u00a0 Do the provisional patent yourself.\u00a0 Simply put your idea on paper (with appropriate diagrams) and get your priority date on your idea.\u00a0 (I’ve got some simple examples for those that are interested)\u00a0 You have one year from the date of filing your provisional patent to provide your full patent application.\u00a0<\/p>\n 5) Keep your ideas coming.<\/em>\u00a0 Throughout the patent process, there are times when new ideas come to you, often as an extension of your original idea.\u00a0 Make sure you write them down.\u00a0 There are many places in which you can still use those new ideas, even if you’ve already filed your patents, whether they are in the provisional and\u00a0patent pending process.\u00a0 This is where lawyers can help signficantly, whether it is filing an CIP (continuation in process) or modified patent filing.\u00a0<\/p>\n 6)\u00a0Promote your IP, even if it’s not a\u00a0patent yet.\u00a0 <\/em>Tell friends, colleagues or your business network (of course if you trust them)\u00a0about your IP.\u00a0 Often they come up with some interesting extensions of your idea and can help you identify potential customers.\u00a0 In fact, many of our customers have come from friends mentioning the ‘closeness’ of specific business models to our IP.\u00a0<\/p>\n 7) Be patient.<\/em>\u00a0 The IP process can be long and drawn out.\u00a0 Getting patent approval can last many years, even after countless initial rejections.\u00a0 In fact, almost all patents (that are eventually approved) get rejected by the examiner during some part of the process.\u00a0 Don’t get discouraged.\u00a0 Keep at it, monitor the market and your hard work will generally get rewarded.\u00a0 Good luck.<\/p>\n","protected":false},"excerpt":{"rendered":" It certainly has been challenging being part of a small technology company – the highs\/lows of the business world – where is the next big market, managing budgets, hiring, etc.\u00a0\u00a0Lots of changing parts and modified strategies along the way.\u00a0 Interestingly, as I look back, the one key, non-wavering item has been our focus on maintaining 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