You have to know the rules to win the game, especially when the rules change… often. In 2013, the movie Captain Philips told the true story of the hijacking of the Maersk Alabama. In April 2009, the Maersk Alabama cargo ship was attacked and captured by four Somali pirates less than 300 nautical miles off the Coast of Somalia. The Maersk Alabama recognized the threat yet had little ability to repel the assault.
Innovation and new technology are often synonymous. Scientists, tech company founders, engineers, technologists and inventors alike all innovate. Each, in their own way, is a problem solver striving to address a technical problem with a technical solution.
Space is rapidly commercializing. In commercial markets, the protection of intellectual property is key to establishing and maintaining a competitive advantage. As space is increasingly reliant on computer-based systems, software protection has become a foremost concern. While copyrights have long been associated with the protection of software, copyrights alone fail to protect the functional aspects of code. Patents must be considered and utilized in conjunction with copyrights to provide companies with a defensible competitive advantage.
Software patents are a waste of time and money. Or are they? A well-quoted statistic states that 97% of all patents will fail to recoup their filing cost. It’s also been said that half of all businesses will fail within the first 5 years, and only one third will see their 10th anniversary. However, there are an estimated 100 million new tech startups each year.