Many companies are abandoning their patent applications. In fact, the abandonment rate has tripled since the Covid-19 crisis began. However, there is specialized financing to keep your patents pending – and even build out a bigger portfolio – so you will be in a powerful position when the economy opens up again. BlueIron is the only company providing this type of financing.
The “abandonment rate” means that people have filed patent applications several years ago, but now that they have a rejection from the examiner, are just walking away from their patent application. (Note that it takes 4.2 rejections on average to get your patent through the examination process.)
Companies who keep their patents are much more likely to succeed as we come out of the crisis.
Patents are signs of confidence that your invention is valuable and that your company will (eventually) be successful with it.
A crisis separates the good companies from the poor ones. When the economy is booming, it is easy to make money. When things are struggling, companies who deliver real, tangible value to their customers will survive.
Many smart companies shed as much of their expenses as possible in a crisis. Some companies have cut 100% of their staff and gone into hibernation, hoping to restart once things open up. They do this to survive, but sometimes those cuts may make it harder once things have started to come back to normal.
But patents? There is a way to put them in a safe harbor – by financing with BlueIron.
BlueIron’s patent financing defers patent costs, which are financed over three years after your patent is granted. Not only do you have full control of the patents for licensing, joint ventures, raising money, etc., you have at least $500,000 of patent enforcement insurance to assert your IP if necessary.
Even better, your IP will be in a holding company where you can still control the patents even during a bankruptcy or restructuring.
Schedule a call with us and we can answer any questions. Please send us your patent numbers along with an investor pitch deck or similar information about your business, and we will be happy to put together a program to help you not just survive a slow period, but thrive.