State of Innovation

Patents and Innovation Economics

How to Build a Patent Portfolio that Dominates Your Marketplace

The first step in build a market dominating patent portfolio is to undertake a survey of the patent landscape in your marketplace.  For more information on how to perform a prior art survey please see Competitive Analysis and Patent Portfolios .  This analysis will show you where there are gaps in the prior art that can be exploited and also help stimulate your thinking about design options.  Gary Boone, the inventor of the microcontroller, explains the advantage of surveying the prior art this way.  “Most engineering design groups do not feel there is much to learn by reading patents.  I feel that’s unfortunate, because there is a huge amount to learn from the accumulated five million issued patents, just picking up the U.S. patents alone.” Continue reading

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September 28, 2009 Posted by | -How to, Patents, Uncategorized | , , , , , , , , | 1 Comment

Want to Get More for Your Patent Dollar? Fire Your Patent Review Committee

Most companies that generate enough patents to justify an in-house patent counsel have a Patent Review Committee. The Patent Review Committee determines if an invention described in an “Invention Disclosure Form” is worthy of obtaining patent protection. The committee is usually made up of a business/marketing person, one or more technical people, and one or more patent attorneys. An inventor usually makes a short presentation to the committee based on the Invention Disclosure Form. Here are the top five reasons why Patent Review Committees result in second rate patent portfolios, hurt innovation, and increase legal costs. Continue reading

September 1, 2009 Posted by | -How to, Innovation, Patents, Uncategorized | , , , , , , , , , , | Leave a comment

Cost and Timeline for Patents

Note that this post is based on free audio CD, titled How to Make Your Patents a WMD- Weapon of Market Domination.  If you want a free copy of the audio CD click here

For a businessperson to be able to make an informed investment decision, he needs to know the cost and timeframe the investment will require and compare them to economic benefits.  Today I am going to present the costs associated with obtaining a patent in a traditional patent acquisition timeline.  After this, I will discuss how these costs can be deferred to lower the risk of an investment in a patent.  Continue reading

June 4, 2009 Posted by | -How to, Patents | , , | 2 Comments