Companies that develop solid IP portfolios during downturns – especially severe downturns – stand to emerge from hard times in much better positions than do those that simply “hunker down and endure”.
Many inventors do not understand a very basic prerequisite to getting a patent: the duty to fully disclose to the United States Patent and Trademark Office (USPTO) how to make and use the inventor’s invention. The rationale for this requirement is deeply embedded in the U.S. Constitution—through amplifying statutes and case law—the implication of which is this: “You (the inventor) tell us what you know and we (‘the people,’ more specifically, the government) will give you exclusive rights to your invention for a certain duration.”
In Part 2 of this series, we discussed the need to valuate your IP assets as well as the methods you can use to achieve this end. This final segment focuses on the rubber-meets-the-road question of what kinds of protection should be used for each IP asset and how much should be spent on that protection.
Space is a whole different ball game for IP rights. Securing IP rights means navigating a host of convoluted international rules and regulations, all of which are increasingly under enormous pressure to change as a result of both the commercialization of space and the population of space with myriad new members, facts which operate to continually morph the topology of evolving space law.
“How do I valuate my various IP assets?” At the outset, we recognize you likely already appreciate the difficulty of answering this question from first-hand experience. IP valuation is a complex, multivariable task and an industry unto itself. That said, this task is not impossible and can be approached from a number of ways, as we now discuss.