Patents in Business Strategy
Obtaining a Patent
Patents are part of an intellectual property law that provides exclusive use for the industrial exploitation of a revolutionary invention (WIPO, 2013). Before applying to a patent, it is important to know the defining characteristics of patentable material and conduct a patent search to ensure the technology has not been previously filed for (CIPO, 2013). Often, the assistance of a registered patent agent is used to facilitate the application process and maintain correspondence with the intellectual property office (CIPO, 2013).
When applying for a patent, you must access the appropriate application form from the Canadian Intellectual Property Office through registry within the site. Along with the patent application form you must also send a document describing the invention in detail (CIPO, 2013). A biological sequence listing should be included when applicable in molecular research industries. These aspects, included with the filing fee, will automatically generate a formal petition for the patent (CIPO, 2013).
A detailed explanation for obtaining a patent is listed in the Guide to Patents, offered by the Canadian Intellectual Property Office. An example of a patent application is listed in Appendix A. This application process is inclusive of protection within Canada. This application process can be long and costly depending on revisions. However, a patent application should be a large part of strategic business development if the industry heavily revolves around significant product changes and costly research and development (Shame, 2008). The advantages and disadvantages of obtaining a patent are listed throughout the rest of this report to determine whether it is beneficial to embark on the application process.
Patent Application Pros
The Right to Practice the Invention
Products being patented must have an industrial use, a purpose that categorizes the intellectual property as a marketable innovation (Floum, 2009). These can
Patents are part of an intellectual property law that provides exclusive use for the industrial exploitation of a revolutionary invention (WIPO, 2013). Before applying to a patent, it is important to know the defining characteristics of patentable material and conduct a patent search to ensure the technology has not been previously filed for (CIPO, 2013). Often, the assistance of a registered patent agent is used to facilitate the application process and maintain correspondence with the intellectual property office (CIPO, 2013).
When applying for a patent, you must access the appropriate application form from the Canadian Intellectual Property Office through registry within the site. Along with the patent application form you must also send a document describing the invention in detail (CIPO, 2013). A biological sequence listing should be included when applicable in molecular research industries. These aspects, included with the filing fee, will automatically generate a formal petition for the patent (CIPO, 2013).
A detailed explanation for obtaining a patent is listed in the Guide to Patents, offered by the Canadian Intellectual Property Office. An example of a patent application is listed in Appendix A. This application process is inclusive of protection within Canada. This application process can be long and costly depending on revisions. However, a patent application should be a large part of strategic business development if the industry heavily revolves around significant product changes and costly research and development (Shame, 2008). The advantages and disadvantages of obtaining a patent are listed throughout the rest of this report to determine whether it is beneficial to embark on the application process.
Patent Application Pros
The Right to Practice the Invention
Products being patented must have an industrial use, a purpose that categorizes the intellectual property as a marketable innovation (Floum, 2009). These can
References: [CIPO] Canadian Intellectual Property Office. (2013). Patents. Canadian Intellectual Property Office. Retrieved October 13, 2013 from http://www.cipo.ic.gc.ca/eic/site/cipointernet-internetopic.nsf/eng/h_wr00001.html Eisenberg, H. (2000). Patents vs. Trade Secrets. Yale University. Retrieved October 10, 2013, from http://www.yale.edu/ocr/pfg/guidelines/patent/patent_vs_trade_secret.html Floum, A. (2009). Trademark, copyright or patent? What type of intellectual property protection is needed?. Examiner. Retrieved October 10, 2013, from http://www.examiner.com/article/trademark-copyright-or-patent-what-type-of-intellectual-property-protection-is-needed Palmer, J. P. (1984). Patents, Licensing And Restrictions On Competition.Economic Inquiry, 22(4), 676-683. Rastogi, P. (2013). Incremental Pharmaceutical Innovations: Impact On Public Health & Economy. Mondaq: Connecting Knowledge and People. Retrieved October 11, 2013, from www.mondaq.com/india/x/264358/Patent/Incremental+Pharmaceutical+Innovations+Impact+On+Public+Health+Economy Schilling, M. A. (2013). Strategic management of technological innovation(4. ed.). New York, NY: McGraw-Hill. Shame, S. (2008). Managing your intellectual property assets. New York, N.Y.] (222 East 46th Street, New York, NY 10017): Business Expert Press. Villasenor, J. (2012). How Entrepreneurs Can Thrive Under the "First-Inventor-to-File" Patent System .Forbes. Retrieved October 10, 2013, from http://www.forbes.com/sites/johnvillasenor/2012/12/07/how-entrepreneurs-can-thrive-under-the-first-inventor-to-file-patent-system/ [WIPO] World Intellectual Property Organization. (2013). Understanding Industrial Property. World Intellectual Property Organization. Retrieved October 9, 2013, from www.wipo.int/export/sites/www/freepublications/en/intproperty/895/wipo_pub_895.pdf Zuniga, M. (2009). Who Licenses out Patents and Why?. OECD Library. Retrieved November 3, 2013, from http://www.oecd-ilibrary.org/content/workingpaper/224447241101