How to manage accelerating patent costs
No adviser, and I really mean no one, seems seriously interested in finding a way to cut, or at least more effectively manage the accelerating costs of creating and managing patents. There are many experts out there offering all sorts of strategic services. And there are a number of services and software on the market. But no one dare to answer the questions: Why is it so expensive? And what is that cost?
I can come up with at least a couple of reasons why companies themselves have no or little knowledge of the total picture for patent costs. Firstly, there is a lack of transparency when agents present the patent costs in bills. Secondly, since patents are protected country wise, it demands a huge effort to identify and visualise the total costs.
Having said that, I can line up a number of negative consequences. To begin with, there is an imminent risk that your company will pay dearly for protecting a product in a country where you have no market, or where you have no competition and therefore don´t need the protection. Sometimes you also discover that you have "been recommended" to enter a country where there are poor, or even dangerous market conditions for your business. And these patent related costs will not just pass by unnoticed in your business, right?
Is there a solution to this situation?
Of course there are many different answers and actions to take into consideration. But ultimately, it´s about you having to decide if you want to be in control of your patent costs or not. Get yourself the insight needed to make fact-based decisions and not only trust "a good advice". It´s your economic situation and the future in your business that will be affected.
3 actions that will help you understand patent costs.
Let´s start with these 3 actions as they will make an immediate and positive difference:
- At Innovaccess you will find an overview of what a patent can cost in one or more country over time.
- Join this group and we will invite you to a webinar that will be held by the beginning of September. At the webinar you will find out how to understand and calculate your own present and future patent costs.
- Also visit PRV to find a number of examples showing the cost of maintaining a patent protection for a product in different countries.
One more advice.
Having an expert to guide you will always give you some sort of advice, based on the information you provide. My advice for you is to START BUILDING YOUR OWN INSIGHT of patent costs in relation to your business strategy. Attending our 15-minute webinar the 1:st of September is a good start.
What´s your best advice?
Please share your expertise by leaving a comment. Also feel free to share this post in your own network.
Sign up for the webinar
Please register for "How to manage accelerating patent costs" on Sep 1, 2015 12:00 AM CEST at:
Attending this webinar will give you strategic as well as hands on tips and tricks on how to manage accelarating patent costs. After registering, you will receive a confirmation email containing information about joining the webinar.