Saturday, December 31, 2011

Summing up the last year


Patfrigate wishes all our blog readers, a Happy and Prosperous year ahead. Last year has been full of surprises, new laws, IP arguments, statistics and the list goes on.We hope, Patfrigate continues to provide the right amount of support and solutions to your firm's IP needs. Devising Intellectual Property strategies, analyzing IP portfolios and providing a complete gamut of IP solutions has been our motto and we will continue to work diligently. Our blog readers have been extremely supportive and we aim to provide you more global updates & IP insights during the coming year. Till then, stay healthy and stay updated!

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Wednesday, December 21, 2011

Prior Art search : An important link



The entire procedure for attaining a patent, starting from conceptualizing your idea, writing down those crucial points, filing patent applications, answering office responses, etc. Did I miss anything? Yes, the missing link is thoroughly conducted “Prior Art” research.  Many a times, an Inventor often overlook that important aspect thinking his innovation being the pioneer in the field and one of its kind. The result is no Patent granted ,infringing claims or multiple amendments in the claims structure. In all the cases, your prospect of attaining a Patent seems dodgy.

The idea behind a Prior Art search is to negate all those possibilities which could hamper the approval of your patent application. Imagine your latest invention comprise of certain features (if not all) which are already patented a year back or may be already disclosed in a peer review journal. You, as an Inventor have no idea where does this enter into picture. Anyways, there is not much left for you now but to carefully amend the claims of your application or carry on answering the multiple office actions. In the entire process, you lose precious time and intellectual energy while making futile permutations and combination.  To be more precise, time is money, can you afford to lose it.  

As an IP strategist, I have always advised individual inventors and start ups to pay crucial attention to this foundation point. There is absolutely no point in running a prior art research after filing your patent applications. Prior Art forms the base of the pyramid, a well conducted prior art search report can help an inventor to draft the most appropriate set of claims in the patent application. Besides that, it enables an inventor to possess a complete knowledge of existing and pending patent technology domains and freedom to operate space. As said before, it saves your time and intellectual energy. Eventually, I hope you find it useful to implement!  

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Tuesday, December 6, 2011

Do Patents add Economic Moat



While most of the start ups are busy devising a firm patent portfolio, have you realized how a potent patent portfolio can add the maximum economic moat to your start up business. For those who aren’t aware of the term:  “Economic moat” refers to competitive advantage of a business over others.  Angels and VCs are likely to invest in the business showing wide economic moat.  Keeping this in mind, a start up entrepreneur can add substantial economic moat by attaining IP rights conferred by Patents, Trademarks , Copyrights and Designs.

 The early stage start ups find it difficult with limited budget to accommodate for attorney’s fee, filing fee, responding to office actions and this could deter many young entrepreneurs from building a potent IP portfolio in the nascent stages. But trust me, if you manage to pass this stage, you won’t regret later. The economic benefit that a well constructed IP portfolio confers is far more than the initial investment. For a start up it is imperative to gain competitive advantage after bringing the idea to the market. A well constructed IP portfolio enables a start up to validate and position their idea considerably, thus, adding an adequate economic moat to the business. All in all, it’s the survival of the fittest and if you wish your start up to prosper, add the right mix of nutrients! 

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