FOCUS Security
the patent drafting process. This will allow the IP to be broad yet focused. Focusing on the market need the product fills rather than simply on the product itself will help identify generations of patent protection including future developments in the technology and market. Cover alternative designs to avoid competitive design a-rounds. This point speaks to broad claim language in the patent to cover simple alterations to develop competitive manufacturing niches. Cover potential improvements to protect
future products and product lines. File ‘fence’ patents on potential improvements to competitive products. To be successful you need to concentrate externally and internally: what is your competitor doing and how can you hem them in? File continuation applications to incorporate claims that cover competitive products; this extends your monopoly beyond the original 20 years with a slight variation. There are several options to monetise
patents and maximise ROI: protect your products and ensure protection for improvements and future products, license the patents for a royalty stream, sell the patents or leverage key patents to force competitors to cross-license blocking patents. The options are to stop others from
making money, make money from those behind in development or play in your competitors space with paid permission. The key to maximising ROI is identifying
the role and strength of the patents in your portfolio. ‘Core’ patents protect your products and hence your revenue stream. These patents should be maintained and protected. Supporting patents are those that protect and support your core patents. They should be maintained and can be licensed if appropriate. Alternative patents do not cover your products but may have value in the market. Alternative patents should be licensed or sold to realise ROI. Weak patents are those that are vulnerable to challenge or have little or no value in the market. Weak patents should be sold or abandoned. To determine the current position of your
patent portfolio a review of your IP and that of your competitor should be done. Constant patent review is key to competitive advantage. Consider this the Kaizen approach to IP – continuous improvement.
Monetising your portfolio The steps to monetising your patent portfolio include identifying potential infringers of your IP and enforce the patents through licensing or litigation. Remember, you are responsible for taking action to
enforce your property rights. For valuable patents that are not currently in use, package and market them to potential licensees and purchasers.
IP as a business asset There are three approaches to any IP decision: engineering, legal and business. If a competitor is close to infringing a technology an engineer would design around the patent, a lawyer would litigate the patent and the business person would license the patent to the competitor. No one answer is ‘right’ but each has a decision tree that is best traversed with the help of a patent attorney. When utilising IP for a business advantage, make sure to approach your patent portfolio strategy with a plan to include a patent attorney as a business partner. Remember to consider IP as a business asset similar to any capital equipment you purchase when you consider how to create value through patents.
Mark Miller is president of Coating Tech Service
www.coatingtechservice.com Devan V Pradabhan is a shareholder of
Winthrop & Weinsteine
www.winthrop.com
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