Programamipc Blog

pPatenting can afford its owner a superpower, a power not normally permitted under law, the right to hold and conduct monopoly.nbsp; However these superpowers are not always a blessing.nbsp; They have been the downfall of many organizations that find the cost of defending this monopoly greater than its value./p
pPatenting is a time consuming, expensive process that can yield significant rewards if done correctly.nbsp; That said, patenting is not necessarily the best strategy for every technology or every opportunity./p
pSome factors to consider are:/p
pstrongProtectablility/strong ndash; Can you protect your a title=Intellectual Assets href=http://www.missionhq.com.au target=_blankintellectual assets/a through other means?nbsp; Whilst a patent last 20 years, a trade secret can last as long as it remains a secret (Eg. The Coca Cola formula).nbsp; There are a number of techniques that can be used for ldquo;Black Boxingrdquo; your technology so that you hold the key, and your customers and competitors cannot obtain access to it./p
pstrongJurisdiction/strong ndash; Where do you want to protect your intellectual assets?nbsp; If, for example, you had a technology for manufacturing a product, would you protect your technology in key manufacturing jurisdictions, or would you protect it where the products were sold?nbsp; Particularly with legal protection regimes, such as patents, your ldquo;superpowerrdquo; only applies in those jurisdictions where you have received a granted patent./p
pstrongCost ndash;/strong Are there more cost effective ways of protecting your intellectual assets, or does a patent offer the best risk/reward trade off?nbsp;nbsp;nbsp; If you are patenting in several countries, patent costs over 4 years are likely to be greater than $100,000 including translation costs.nbsp; If you are cash constrained and unable to access funding through grants or capital raising, then patenting could be your Cash Flow Kryptonite./p
pstrongTime /strongndash; What is the lifecycle of your technology?nbsp; It can take 5+ years to obtain a granted patent in the US.nbsp; Provisional patents are of limited value as the monopoly has not yet been granted.nbsp; Whilst a FTO (Freedom to Operate Search) can add value to a provisional patent, certainty of your ldquo;superpowerrdquo; only exists after the patent has been granted./p
pIf you are planning to patent, do it early.nbsp;nbsp; The patent process can be long, slow and expensive, with costs starting at a relatively low base and increasing following year 1 and into year 2.nbsp; The earlier in your development process you consult a patent attorney, the better.nbsp; The longer you wait, the more risk there is of information leaking into the public domain, invalidating your patent./p
pMission HQ takes a commercial approach to a title=intellectual asset href=http://www.missionhq.com.au target=_blankintellectual asset/a protection and can advise you on the most appropriate strategy for your opportunity.nbsp; As we are not a patent attorney firm, we are able to provide commercial, unbiased advice on protecting and managing your intellectual assets./p