The term “innovation stages” tends to conjure up the vision of end-to-end development of intellectual property, from conceptualization straight through to patent approval. One of the most significant periods within those stages, however, is the invention disclosure period. Invention disclosure is a process in and of itself, with its own sub-stages and steps. IP management software makes a significant impact on the disclosure process, so we’ll hone in on its specific sub-stages for the content of this article.
Even if you’ve built a collaboration team that’s continually producing intellectual property (IP) and checking in on its status, it’s important to know how innovation management software fits into the business process. The truth is that those types of software are analysis and enablement tools. Products like Decipher give both team- and organization-level leadership a view into employee productivity, financial information, and strategic direction.
The speed at which your business can develop protectable intellectual property (IP) can determine your survivability. If the competition does it faster, they’re able to launch their products and realize profits in your stead. But speed isn’t the whole business equation. As you pour resources into your new innovation, your margins steadily shrink. Patent creation costs and other protective measures contribute to that margin shrinkage. Luckily, just as organizations are able to forecast their development costs based on materials and personnel, they can also make some predictions for their patent spending and manage accordingly. While patent costs vary, here are a few characteristics that can help you maintain some cost control:
Intellectual property (IP) is very often what differentiates your business from a competitor’s and makes you more valuable in the market. Considering this, it’s absolutely vital to ensure your patents and other IP are protected from infringement. The United States Patent and Trademark Office (USPTO) defines patent infringement as, “...the act of making, using, selling, or offering to sell a patented invention, or importing into the United States a product covered by a claim of a patent without the permission of the patent owner.” In simpler terms, IP infringement is theft.
Good ideas are the lifeblood of most modern organizations. If you’re not efficiently capturing and reviewing all of them, you’re likely below your innovation potential. If you’re not making fast decisions about which ones to protect, you’re also likely at a competitive disadvantage.
There is a lingering perception among some that intellectual property management strictly concerns the accumulation of wealth from one's ideas. However, a new study from the European Patent Office once again confirmed the salutary effect IP-intensive industries has on the economy as a whole.
The USPTO's Transitional Program for Covered Business Method Patents was specifically installed to dissolve confusion surrounding the validity of financial product and service patents. The framework will soon receive its next test from Branch Banking and Trust (BB&T), which hopes to deflect an infringement suit regarding the electronic transfer of funds.
The escalating power of today's analytical technologies and the endless creativity of their users have combined to answer vast social, political and commercial questions in recent years. This month, two inquiries into the geographical context of intellectual assets have revealed intriguing conclusions.
The technology transfer programs run by universities and research institutions around the country have been a consistent source of scientific progress and commercial prosperity over the past few decades. Now a new initiative in Northeast Ohio is looking to replicate similar successes for creative minds outside of academia.