Patents have long been recognized as a vital tool in the business world. Patents are designed to give the owner or assignee of the patent a monopolistic position in which to practice the technology described in the patent. In years past, a few patents may have provided adequate protection. That is no longer the case. In today’s world, a solid patent portfolio that is the result of engineering and executing a focused patent strategy is vital to protect your business interests.
Moreover, patents should not be considered solely as defensive legal documents. Rather, they should be considered part of the marketable product stream emanating from your company. If the patent portfolio is good, it can be worth billions of dollars. If it is poorly designed, it can simply be an expense that divulges your technology to your competition.
It is the goal of this book to enable you to develop patent portfolios that both protect your vital technology and have commercial value without burdening your company with undue expenses. To begin this discussion, let us consider your night immediately prior to your big product introduction.
Your company is about to launch a new product. Perhaps that product will also launch your entrepreneurial company. Alternatively, that product may enhance the profitability of your established company.
The product has many key features that are lacking in competitive offerings. You should be ...