In a recent SC Magazine report, cyber security experts James Denaro and Mark Ungerman claimed that a solid intellectual property strategy can help cyber security companies ensure their profitability.
With the rapid changes taking place in the world of IT, such as the growth of cloud computing, the cyber security industry is expanding quickly. This is reflected in the number of patent applications submitted for inventions related to information security.
According to the U.S. Patent and Trademark Office, 4,758 new information security patents were granted in 2010, a significant increase from the 3,517 patents granted in 2009.
Denaro and Ungerman noted that the patent application process can still take more than two years to complete. Even with a new fast-track patent option, the process will take around a year.
"Given the amount of time required to obtain a patent, applications on cyber security innovations should be prepared and filed as early as potential commercial value is identified," they wrote.
The growth of the cyber security market is being driven by a need for new and innovative technologies. With the right invention and a responsible intellectual property management plan, information security companies stand to profit from the growth of their industry, according to the report.