How to develop your patent portfolio – from uni to FTSE
Catherine Bonner, Peter Wilson
There is nothing more rewarding for a patent attorney than to accompany a single good idea, in my case born within an academic environment, and guide it through a commercial environment and then onto an environment which produces a range of products and technologies. I am fortunate to accompany companies through to initial public offering where the value of the Intellectual property can potentially represent around a third of the offer document.
It’s a real privilege to help a company manage its growth process, utilising my skills as a patent attorney, my technical expertise and also my commercial acumen. There are huge benefits to be had from working with an attorney who has the experience of working through several patent generations, from a material which has a number of applications, to second generation devices based on that material and potentially a third generation of patents focusing on systems and signal processing.
Such a journey allows us to gain a deeper understanding of the objectives of the business, to challenge proposed strategies, especially in the building phase and, for example, in terms of cost versus benefit of the portfolio building strategy, leading companies to look at a more targeted approach.
The strategic input of a patent attorney is to guide through and react to developments in the company; to make the leadership team constantly aware of where the risks are and how to mitigate them. In my experience, active portfolio management is key and that your rights are fully secured and monetised. Intellectual Property should always be on the agenda at every board level discussion and building a close relationship with your patent attorney is vital to this mutually beneficial partnership.
It is also essential that your Patent Attorney works closely with your Design and Trade Mark Attorneys to build a robust, cost effective intellectual property portfolio, comprising of the full range of your IP rights.For further information on how we can help develop your IP awareness and portfolio, please don’t hesitate to contact us.