Patent Filing Strategy Whitepaper: Tips and Tensions
There are various forms of intellectual property, but which form of protection is applicable depends on what has been created and how it is intended to be used. For new technology, patents are often the best way to protect the core invention and, as such, companies are eager to file applications; but filing and pursuing patent applications can also be costly and time consuming. In order to make important decisions in regards to patent filing, creating a successful strategy is crucial: it involves understanding the company's overall business goals and aligning them with a number of key financial, organisational, environmental, human and legal factors. This patent filing strategy whitepaper
provides tips and goes over tensions you'll face while implementing a successsful IP strategy
There are a number of factors to consider when developing and executing a patent filing strategy and the majority of outcomes will be dependent upon the individual company’s requirements and priorities. IP strategies also evolve over time, due to both internal and external factors. Having an agreed strategy helps you to manage expenses by clearly defining which key inventions should receive the most effort and attention to avoid potentially unnecessary costs associated with filing patents of lesser importance to the company.
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- It is essential that a company aligns its patent filing strategy with its business strategy and objectives.
- Companies must keep themselves abreast of their technology environment, especially the competitive landscape. It is important to continuously identify, assess and minimize the IP threats and risks.
- A company should never lose sight of the financial aspects of a filing strategy. Given the ever increasing cost of patent protection, attention to value and efficiency can help the company craft a patent portfolio that best supports their business objectives without making patent protection an unjustifiable cost centre.
- The value of a company lies in their people: people include employees, management and external advisors. Investing in the selection and training of key internal and external skills is essential to the execution of a successful patent filing program.
and learn more about what you need to consider to create a comprehensive patent filing strategy.