Traditionally, IP counselors are buffered from the senior-executive decision-making process. Although patent attorneys represent an elite group that have a scientific background, this technical background many times prevents you from being a part of top-level strategic decisions. With your subject-matter expertise, and our ability to convert the complexities of the patent space into actionable business intelligence, you can earn a seat in the executive board room. Connie from Lee & Hayes says, " As an IP attorney, I specialize in life sciences technologies and need tools that go beyond a good search. I use IP Street's suite of tools because the analysis provides great business insights in a fraction of the time it used to take, allowing me to be more responsive to my clients with better information. As a result, I am able to play a more integral role in my clients' business. " It is about time you can communicate actionable business intelligence from patent documents. Executives are starting to recognize the importance of Intellectual Assets and their management, but they need more. An you can provide it for them.

A design patent covers the unique, ornamental, or visible shape or surface ornamentation of an article or object, even if only on a computer screen. Thus if a lamp, a building, a computer case, or a desk has a truly unique shape, its design can be design patented. Even computer screen icons and an arrangement of printing on a piece of paper can be patented. A design must be for an article that is different from an object in its natural state; thus a figure of a man would not be suitable for a design patent but if the man is in an unnatural position, this can be patented. The uniqueness of the shape must be purely ornamental or aesthetic and part of an article. If the design is functional, then only a utility patent is proper, even if it is also aesthetic. A good example is a jet plane with a constricted waist (narrow body) for reducing turbulence at supersonic speeds: Although the novel shape is attractive, its functionality makes it suitable for a utility patent only. A useful way to distinguish between a design and a utility invention is to ask, "Will removing or smoothing out the novel features substantially impair the function of the device?" If so, as in the jet plane with the narrowed body, this proves that the novel features have a significant functional purpose, so a utility patent in indicated. According to David Pressman's book "Patent it Yourself" two useful questions to ask to define design innovations are: (1) Is the novel feature(s) there for structural or functional reasons, or only for the purpose of ornamentation? (2) Does the novel feature make it look better or work better? (The utilitarian function always prevails.) If the state of the arts is such that the general nature of the feature and its function is old, but the feature has a novel shape that is an aesthetic improvement, then only a design patent will be proper. The design patent application must consist primarily of drawings, along with formal paperwork and a filing fee. Design patents last 14 years from the date of issuance.

Joseph Schumpeter, known as the Prophet of Innovation, describes the importance of inventors in his Theory of Economic Development. Inventors are the "fiery-spirits" that disrupt the status quo with their vision of doing things 'better, faster, cheaper.' In the process, their inventions represent "the heroic intervention of individual men (or women) who appear as leaders toward new economic shores." We believe that intellectual assets, commonly taking the form of patented technology, are the least-understood and most-relevant resources to stimulate economic development through innovation. To make this happen, intellectual property (IP) needs to be more comprehensively understood so that better business decisions can be executed. This is why we are in business. An invention must have economic utility to benefit society. Some times, inventions are way before their time. However, most of the time, the business execution to commercialize the invention fails. In fact, those that conceptualize the invention rarely reap the rewards of the innovation's ultimate success.

The idea for IP Street originated with Lee, a co-founder of the US's top ranked firm for patent quality, Lee & Hayes (Spokane, Seattle, Austin, Portland, Taipei, and Beijing). Lee became engrossed in the notion of mining IP data to plot business strategy when he was hired by an investment bank to predict the likely outcomes of the landmark NTP v. Research In Motion case. In the time since, he and his firm have come to represent six of the 10 largest patent filers in the United States, and Lee has become a recognized evangelist on the rise of intellectual assets in the U.S., China, and beyond. Lee gathered his colleagues at Lee & Hayes, some IP experts and others business strategists, raised funds, and went to work assembling the technologies and talent behind IP Street today.

A plant patent covers asexually reproducible plants (that is, through the use of grafts and cuttings), such as flowers. Sexually reproducible plants (that is, those that use pollination), can be monopolized under the Plant Protection Act. Both sexually and asexually reproducible plants can now also be monopolized by utility patent. Plant patents are comparatively recent innovations, the first one being granted in 1930. A plant patent is granted by the Government to an inventor (or the inventor's heirs or assigns) who has invented or discovered and asexually reproduced a distinct and new variety of plant, other than a tuber propagated plant or a plant found in an uncultivated state. The grant, which lasts for 20 years from the date of filing the application, protects the inventor's right to exclude others from asexually reproducing, selling, or using the plant so reproduced. This protection is limited to a plant in its ordinary meaning: (1) A living plant organism which expresses a set of characteristics determined by its single, genetic makeup or genotype, which can be duplicated through asexual reproduction, but which can not otherwise be "made" or "manufactured." (2) Sports, mutants, hybrids, and transformed plants are comprehended; sports or mutants may be spontaneous or induced. Hybrids may be natural, from a planned breeding program, or somatic in source. While natural plant mutants might have naturally occurred, they must have been discovered in a cultivated area. (3) Algae and macro fungi are regarded as plants, but bacteria are not. A utility patent would be filed for claims to plants, seeds, genes, etc. According to the USPTO, there were 959 plant patent applications filed in 2009.