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How much does a patent cost?
A typical US patent cost[1][2] is over $60,000. This is according to the American Intellectual Property Legal Association bi-annual survey. This is the average patent cost across the US for a patent on a “high technology” invention, and your mileage may vary. The patent costs are roughly half drafting (“preparation”) and prosecution. Preparation includes everything…
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Considering Constraints When Evaluating Patentable Ideas
When all you have is a hammer, everything looks like a nail. Every invention has a set of constraints, and it is imperative to uncover and evaluate them when considering patenting. This applies to an inventor or business manager who is trying to ferret out ideas contained in a new product as well as the…
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A good patent is easy to read
A good patent is easy to read[1]. If you can’t understand your patent application, neither can the patent examiner. Many people tell me that they did not understand their patent application because their attorney used “legalese”. Some even joke that it was so dense that they did not even know if their invention was in…
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What does a good patent application look like?
Good patents are NOT written in “legalese”. I had a telephone interview with a patent examiner a while ago and in the course of the interview, the examiner said that he really liked my patent application because I did not try to hide the ball with the invention. I was originally taught to write patent…
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Curating Inventions in the Invention Disclosure Meeting – Myopia
Since BlueIron has a vested interest in the quality and economic value of your patents – it is the only collateral that BlueIron uses – we NEED patents to be high quality. The single biggest event that determines commercial value is the invention disclosure meeting. If inventors see their inventions as too small, the resulting…
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Renting Your Patents – How does that work?
What does it mean to “rent” my patents? Isn’t it better to own them? BlueIron’s financing allows you to “rent” your patents by having an exclusive license to the patents. This gives you all the legal benefits of owning the patents, such as being able to enforce the patents, license and sublicense the patents, keep…
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Patents Make Your Company More Valuable to Acquirers
Good patents make your company more valuable. A well-crafted and curated patent portfolio has patents that make your company much more valuable to an acquirer. When curating a portfolio, BlueIron often targets potential acquirers. We look for where the market will move, how competitors tend to operate, and target inventions that will likely be useful…
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Patents Make Your Company More Valuable Going Into Financing Rounds
Good patents make your company much more valuable when raising money. A patent portfolio increases your value when raising money. A strong portfolio sends a signal to investors that you are sophisticated, understand the marketplace, and mean to be a strong competitor in the marketplace. The stronger your patent portfolio, the more of an “unfair…
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Patents Give You Opportunites for Outbound Licensing
Patents are business tools Patents are useful only when they give your business options that increase your chances for success. Patents can be “trading cards” for negotiations. A competitor that might sue you for infringing their patents are quickly settled with a cross license of your patents. Part of crafting a good portfolio is building…
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Patents Give You Defensible Space in Your Market
A well crafted patent portfolio can give you a defensible space in the marketplace. A good portfolio will cover the key elements of your current products, plus your next several generations of products. A solid, defensible space in the marketplace will greatly increase your business opportunities. Having “patent pending” on your products and advertising sends…