Patents may be valuable assets of an organization, but there are numerous considerations that should be made prior to engaging in the patenting process.
Prior to taking the first patenting step, every organization should first consider how the patent will fit within the objectives of the business or within the mission of the organization. A patent is not the end goal, but is a business tool, that, when used properly, adds value to an organization. Thus, a determination of the commercial objectives for the technology is crucial to extracting value from the patent. Generally, an organization should funnel resources toward commercialization efforts that provide the highest return on investment. However, it is important to note that high value is not synonymous with a high level of technological sophistication. Sometimes ideas that are simple in concept or simple to implement provide the greatest returns.
Organizations should also be aware of the resource investment in obtaining and enforcing patent protection in this country and abroad. Procuring a patent, which in most cases takes years, involves many parties, including inventors, corporate or institutional management, attorneys, commercial partners, and the patent offices of the United States and foreign countries. While the patenting process can be costly, the downstream expense of maintaining and enforcing patents should also be a factor in determining whether to proceed. It may not be prudent to expend time and money procuring a patent if the entity does not have the means to maintain and enforce its rights.
And, time is of the essence. There is no perfect time to apply for a patent, but consideration should be given to identifying an appropriate time to proceed. Patenting too early may mean excess expense on an underdeveloped concept, but one must not wait too long to ensure that the opportunity is not lost. Events such as public disclosures, sales, offers for sale, and undue delay may prevent the grant of a patent.