What law firm do you know would lead with the concept of ‘affordability’ in crafting your company’s IP strategy?
The initial reaction that companies and inventors leap to with intellectual property and patents is...too expensive, too complicated, takes too long, and may not actually work. So, they stop right there.
Wolf Greenfield is a preeminent player in the IP field in the U.S. and works with large manufacturers, software developers, defense contractors, drug and life sciences industry, and robotics companies. The presenters at CI Works last week were quite clear that WG fees are not affordable by all companies, and specifically early stage companies. But, they were also very clear regarding the criticality of having a strategy prior to selling products in the market.
WG presented an array of different options available to all companies and how each could begin implementing some degree of IP protection from the early stages of product development. They were also very open about which options / approaches could be accomplished by owners themselves using public domain tools or in partnership with WG.
Failing to protect your product or company from day one is often an owners greatest mistake. Not having NDA’s in place prior to beginning to promote or sell your product before an IP strategy can lessen your patent rights, in some instances, and can be impossible to ever obtain the greatest protection. Many business owners fail to realize that IP doesn’t always mean a utility or design patent. There are many other forms of protection including: copyright, trade secrets, trademarks, etc.
‘If we could give you one takeaway from the seminar it would be to educate yourself on IP. Don’t just assume you don’t need it or you can’t afford it. Wolf Greenfield can offer you the strategies and tools needed to protect your business, allowing you to focus your energy on running it and being successful.’
Wolf Greenfield Presenters: