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 adage "you get what you pay for" certainly is meaningful in the IP legal landscape. However, it is a challenge to get new, first-time inventors in the door to start discussing why they should retain an patent lawyer. With our co-branding options, we can help advance potential clientele through your pipeline. Become a co-branding partner and we will generate a promotional code to your potential clientele that will give them a discount on our services (10% savings). When they login, your logo will be co-branded with our software, a subtle reminder to the potential client.
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.
Proper organization of a patent porfolio is essential to be prepared to properly navigate the IP landscape. One key issue is related to inventorship. Consider the Pfizer patent, patent # 5,760,06^, which is commonly known as the COX-2 inhibitor. Pfizer is currently in a $1B lawsuit because Searle, the original owner of the patent, failed to include a key inventor on the patent. Pfizer inherited this mess when they acquired Pharmacia, who had previously acquired Monsanto, who had previously acquired Searle. Ignorance is not a defensible excuse in patent litigation.
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