Advantage Announces Technical Review Offer
Beginning March 15, 2010 until April 30, 2010 Advantage is offering a free evaluation of new electronic product ideas. This is a great opportunity to have the technical aspects of your invention reviewed and vetted. Bring your mutual non-disclosure agreement or use ours!
What is Your Technology Protection Strategy?
Intellectual property development is an essential part of the assets of many high-technology companies. Companies have been bought and sold strictly for the value of their technology and intellectual property. Others, such as some microprocessor and cable companies, have virtually no other owned assets than their intellectual property. A good example would be a well known cell technology company and Fortune 500 member that derives about 90% of its revenue from licensing. Many inventors are unfamiliar with doing strategies for technical claims of a patent for a new invention. Electronics and electro-mechanical technologies are especially intricate due to the nature of the technology and the intellectual property rights involved.
A company sometimes risks losing ownership of their own intellectual property when they fail to adequately protect themselves. When engaging another company to provide the engineering that embodies the concept or idea behind the implementation, they can unwittingly open the door to violations of patenting rules. Therefore, it is important to work with an engineering team that fully understands technical claims and the patenting process. An individual inventor invests so much in their idea it would be a shame for a good idea to end up un-patent able or for someone else to capitalize on it because of this type of an error.
Patenting of green technology intellectual property plays a key role in the development of new technologies for reducing foreign dependency, carbon and saving money. Licensing can be used to get the technology into broad use. Licensing provides a legal framework for the development of patented technology. Every patented technology is different so the licensing agreement must also be unique. Licensing allows wider dissemination, green or otherwise, because the additional uses for the invention can continue to progress under a licensing agreement.
Why Invest in Technology and Intellectual Property Development?
Think of intellectual property protection as an expansion of protection for your innovations with a foundation based on your resources. A novelty item with a large market that is expected to last one season may not be worth spending much time or money to protect. However, blocking competition for a product into which you have invested 100’s of thousands of dollars would be critical from the beginning. A very novel but simple product, that would be very easy to duplicate also needs protection. What you are most interested in protecting is the concept behind the product, not only its implementation. We have worked with many companies with truly innovative approaches which should have been protected, but in the race to get it to market they gave away their means to domination of their field.
Almost every technology company invests in intellectual property because it is fundamental to the types of products that are developed, and survival in these markets. Frequently they are necessary when an inventor seeks funding from investors. Technical claims for electronic products, in particular, are often quite elaborate and need to cover areas the inventor hasn’t thought of. In order to keep from infringing on another’s patenting rights; consult a good engineering firm; that has experience with patents and technical claims. They can identify and propose solutions to areas of potential violations. Having an engineering firm that can help in this way provides you with a little extra insurance that you haven’t missed anything.
With the current upsurge towards the building of a new energy economy, patenting the rights to green technology and intellectual property has soared to the forefront. Advantage has a lead in this area due to our experience with a number of smart-grid and other green engineering projects. These evolving clean & green technologies now have opportunities beyond the traditional uses for patent owners. Green patents are even being used to form *“patent pools” in order to simplify licensing and get products rapidly developed Corporations are using these new opportunities to promote teamed and joint development as well as to utilize flexible owner initiated licensing. Green technology patents are the future of sustainable energy development and the U.S. government is investing heavily in them.
An inventor has an innovative idea for a new electronic product … then what? Where do they go to find electrical engineering designers who can help with technical claim strategies or develop the idea into a working model of the device? Where do they find information to help them prevent their design from being stolen by others? It is important in the world of technology, to find the right company to guide you through these intricacies.
*(Patent pool is a consortium of at least two parties agreeing to cross-license patents relating to specific technologies. The creation of a patent pool can save patentees and licensees time and money It may be the only reasonable method for making the inventions available rapidly enough).
Fast Tracking Green Technology Patents
In December 2009, the U.S. Commerce Department’s Patent and Trademark Office (USPTO) announced a pilot program to accelerate the examination of certain green technology patent applications, and promote U.S. competitiveness. The fast-track program is designed to make eco-friendly technology more quickly available.
“American competitiveness depends on innovation and innovation depends on creative Americans developing new technology,” U.S. Commerce Secretary Gary Locke said. “By ensuring that many new products will receive patent protection more quickly, we can encourage our brightest innovators to invest needed resources in developing new technologies and help bring those technologies to market more quickly.”
According to the announcement, pending patent applications in green technologies will be eligible to be accorded special status and given expedited examination, which will have the effect of reducing the time it takes to patent these technologies by an average of one year. Early patenting of these technologies enables inventors to secure funding, create businesses, and bring vital green technologies into use much sooner.
The Value of Intellectual Property
Effective patenting in today’s highly competitive, rapidly developing, high-tech environment is imperative to a company’s strategy. Revenue stream from license fees might help startups and established companies both. In addition to patenting technologies, they can license and convey the rights to sell products that contain patented technology. Some companies only sell the technology, (ie: Advanced microprocessor architecture). Even if all you had was the “idea” or basic specification of a product idea in a licensing arrangement, you probably still want to own the technical portions of your invention. This may mean getting some form of financing to pay for development.
- Protection from a rascal who might sell your design to your competitor.
- Discouraging a competitor from developing the same technology.
- Generating interest from investors in developing the product.
- Selling the product or intellectual property rights.
- Licensing the innovation to others.
Good patent drafting will spotlight the truly novel features of your invention. The broader the claims for the technology, the less likely it is that a modern day bandit can rob your idea and profits.
We can review your product concepts for effective patent searching, technical feasibility and help determine if it can it be reduced to practice. Advantage can help create technical strategies to avoid other’s technical claims or make suggestions, if you wish. Our staff helps you all along the winding path with the experience necessary to successfully assist you on your inventions.
Patent Pending on “Sammie Device” Pictured Above
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