Building such a fortress around the invention makes it difficult for others to use the invention without getting a license. Depending on the policy of the organization and the type of the invention, the organization can then grant either exclusive or nonexclusive licenses to use the product. There are several ways to protect IP, but one should always remember that protecting IP is expensive. Therefore, an organization needs to think carefully about its competitors, likely infringers, and the geographical area where the invention is to be marketed. Sometimes keeping an invention as a trade secret might be the cheapest way to protect it. Sometimes patenting, even if more expensive, might give better protection. Finding the best way to build and protect an IP portfolio requires imagination, in addition to a thorough knowledge of the company and its product lines. A comprehensive IP portfolio can be of substantial value to both private and public sector entities. For both sectors, patents are a key element of an IP portfolio. Large companies can afford an offensive patent strategy, but small companies may not have the necessary resources for this. Therefore, especially for small- and middle-sized companies, proper planning and parallel thinking is required to develop an effective and cost efficient strategy. Join the IP Street community and learn more about protecting your intellectual property. We have developed a comprehensive network of patent lawyers to connect you to others that can help license, protect and commercialize your idea. Patent infringement is a serious threat and protecting your invention or patent idea is critical.

The competitive landscape can be brutal, and commonly is referred to as the Red Ocean--you know, blood in the water with sharks lurking about (yeah, a few lawyer jokes come to mind, but I will restrain myself). Research at Harvard Business Review and elsewhere suggests that the most profitable business strategies are related to finding and/or creating Blue Ocean to reap rewards in a new space. How does that relate to studying patent data? Simple. You first need to understand what patents already exist in the invention-space. Second you need to understand and articulate how your invention is unique. Next you need to write your patent so it makes as many unique and new claims as it possibly can. Then you need to consider all possible opportunities to secure and expand your space. In IP lawyer-speak, this means that your invention needs to have a valid legal scope. If you find out, using our tools, that your invention is in a very competitive space (sharks in the bloody ocean), you may want to forego the costs associated with pursuing patent protection. IPstreet.com can help by searching millions of patents and simplifying the complexities of the data into an intuitive "scatter plot" that identifies your idea in context of the universe of patents and patent-pending applications. Ultimately, we can provide important business intelligence from the immense and excessive information available. Our goal is to take TMI (too much information) and report it to you which will better inform your business decisions. If you are searching for questions such as, "how to patent my idea, " or "how to patent my idea," then you've come to the right place. IPStreet.com's patent search tools are designed with you in mind. Using the patent search software, you can better understand how to patent your invention or patent idea, patent duration and find an experienced patent lawyers.

No one has a crystal ball to predict ultimate success, but with IPstreet.com, you can "demystify" the complex data and landscape IP so you can make better business decisions. Identifying potential revenue streams is important in your ultimate choice of GO/NO GO in regards to secure patent protection for your invention. To be pursued wisely, a patent is going to cost a minimum of $10K. IPStreet.com's patent search tools are designed for inventors, intellectual property strategists, investors and IP counselors.