Patent Funding: How BlueIron Gives You Better Patent Quality
One of the biggest ironies is that your patent attorney cannot give you good advice. But patent funding changes that.
Patent attorneys are bound by the attorney/client privilege, which is a hallmark of our legal system. But it has some unintended consequences. One of which is that the attorney becomes very hesitant to give advice.
Ever wonder why an attorney never gives a straight answer? This is because the attorney can get sued (and has malpractice insurance to cover) when they tell the client something wrong. A patent attorney has much more at stake than conventional attorneys because the economic value of a patent can be so enormous.
Consequently, when you visit a patent attorney, they are likely to tell you all of the “options”, like getting provisional patents, design patents, utility patents, and the like, but they will be very hesitant to tell you which course of action is best for you. I used to work with an attorney who said all inventors were “walking malpractice suits”.
Patent funding changes the incentives and the alignment between you and BlueIron. Because of the patent funding, BlueIron treats the patent assets as collateral. This means that BlueIron has a vested interest in the quality and commercial value of the patents.
Patent funding brings in our expertise in business valuation, patent valuation, and business strategy – which is the whole reason why you went to a patent attorney in the first place. Sadly, the system is set up so that a conventional patent attorney cannot give you that advice that you really need.
BlueIron attorneys have a very unique blend of high powered patent preparation and prosecution as well as business and patent valuation expertise, deep patent strategy experience from being in-house patent counsel, and many years experience as inventors and business people. Our patents are much, much better than you can get from any patent attorney solely because we do not have to treat inventors as “walking malpractice suits”.