IP (intellectual property), in the form of patents and proprietary technology, is what makes your company unique, and uniqueness is what leading companies strive for. What are the best methods for valuation of your IP?
The Pearson Group’s Strategy and Innovation Blog
Patent valuation quantifies in monetary terms the future commercial utility that can be extracted from the use of the patent. The patent may be used in one’s own products or licensed to a third party to generate income.
Throughout this year of change and uncertainty, PSG has remained productive and fully engaged for our clients around the world. We’re happy to report that on July 7 we celebrated 9 uninterrupted years of helping our clients move their companies and ideas forward. In fact, PSG has gained many new clients in the past few months, most with COVID-related ideas.
Would you base the future of your business on a $40 report? Would you invest $10,000 in a patent process encouraged by the results of a free internet search? Sadly, I’ve met people who have hurt their business prospects by inadvertently using poor patent services. Don’t get tripped up! I explain how to know if a search is complete, whether a searcher is knowledgeable, what inferior results look like, and more in my latest blog.
PSG is 8 years old this month and we’ve certainly learned a lot about starting a one-of-a-kind business and helping potential clients understand how we can save them time and money. Recently, I’ve been experimenting with packaging PSG services – with great success. For example, I created a table comparing our patent research services in three simple tiers to help people understand the costs and the results to expect at each level.
Greetings as we wind down another productive year! It is gratifying to see so many clients taking proactive steps toward their Intellectual Property, innovation, and business goals.
“Get a patent!” is one of the most common goals we hear from new clients at Pearson Strategy Group. But for many inventors and companies, this path is an expensive mistake. Patent attorney Craige Thompson explains below why patents often aren’t worth anything. For example, would you still pursue a patent if I told you that roughly 95 percent of U.S. patents are never monetized (licensed, sold or included in a product)? It’s true!
As a U.S.-based, professional patent researcher, I’ve seen some cringe-worthy patent reports from Do-It-Yourself, discount and what’s passing-as-professional patent search services. What is the biggest red flag that prior art research may be incomplete or inaccurate?
Most of the worldwide patenting authorities default at publishing utility patent applications at 18 months. Patent attorney Andrew Eisenberg’s thoughts here on the “not to publish” option for U.S. patent applications are important since using this option will delay the date of publication for an additional 1-3 years – and only if the patent issues. This significantly ups the ante for you to stay abreast of your competition and the state of the art with Patent Alerts being an important line of defense.
Trademarks are the most valuable long term asset a company can have. That being said, many large companies overlook their importance. I see it all too often: companies in the early stages of developing a brand identity willingly walk into future trademark and re-branding issues.