Friday, August 11, 2017

Waiting to Protect Intellectual Property Could Doom Your Startup; Kellogg Insight, August 3, 2017

Mark McCareins and Pete Slawniak, Kellogg Insight; Waiting to Protect Intellectual Property Could Doom Your Startup

"Based on insights from Mark McCareins and Pete Slawniak

It pays to be certain your idea is original.  
McCareins: A prior art search needs to be done to make sure that what you’re getting patented is really and uniquely your own.  There may be a temptation not to do a comprehensive search because it's expensive, but you don’t want to find out later that someone had the same invention.  
People say, “Well I got a patent so I’m good to go,” but that’s only half the battle. Even when the U.S. Patent and Trademark Office has granted a patent, that doesn’t mean a federal court might not come in later and invalidate that patent based on another party’s complaint.  
Slawniak: When you file a patent, look around and do a search. See what other folks in the industry are doing. See what other patents are out there. Read the scholarly work around technology in your field and have some conversations with people in the industry. Your patent is a reflection of your R&D investment and your technological advantage, so it's important to know exactly where that product differentiation is. An exhaustive search will ensure you have a strong patent, and hopefully help your patent issue faster. When you have something you believe has value, it’s worth the investment of time to develop and protect it. "