Last week, I did what I these days rarely ever do: live in the world of corporate and law firm IP lawyers. I traveled to Minneapolis to speak at the Midwest IP Institute and, while there, I was treated to a baseball game in a luxury box, a high end hotel room with cocktails and hors d’oeuvres, a fabulous steak dinner and various other fringe benefits that I have not seen recently. It was clear to me that even in these trying economic times when law firms have folded and merged and lawyers have been laid off in droves from all sorts of law firms, many lawyers are still living the high life. I must say, I was somewhat surprised, because I thought business people were getting smarter about how they spent their money these days and, as a result, would not be impressed with fancy law offices and "bling"
The Disconnect Between IP Business Value and IP Legal Services and How Business Leaders Can Do a Better Job Choosing Their IP Counsel
R & D Tax Credits Mean Little to Businesses That Do Not Competently Manage Their Intangible Assets
This week, President Obama will announce a $100 billion proposal to stimulate the economy, where much of the focus is to be placed in the area of R & D tax credits. In addition to making the R & D tax credit permanent, Obama will seek increasing one of the credits available from 14 to 17 percent. This announcement brought to mind a blog post that
Facebook’s “Trademark Bullying” Should Serve as an IP Strategy Lesson for Startup Entrepreneurs
This week, Facebook's trademark action against a small online teaching company has been all over the news. In summary, Facebook contends that TeachBook infringes its trademark rights in the "Facebook" name because, presumably, the "book" part of the name is associated in the minds of the relevant consumer public with the now well-known Facebook brand. Today, it was reported that Facebook is now trying to own the rights to the "face" part of its name. Most wouldn't be surprised that the word "book" is used as a part of the name of a multitude of products and services, which would make it appear that Facebook is using its resources to beat up on smaller companies. The natural response from the layperson is "why is Facebook being such a trademark bully?" But to someone with experience in IP strategy, the business reasons behind Facebook's actions are clear. From a legal perspective,
Contrarian Viewpoint: Patents Likely Matter Little to US Innovation and Job Creation
Many experts insist that innovation cannot succeed without patents, and that the delays in the US Patent Office stifle innovation. This viewpoint is like to become more widely believed by the public as US Patent Office Director Stephen Kappos sees a way to improve the dismal operations of the Patent Office by equating patents as job creation tools, which necessarily requires patents to be asserted as critical for innovation to occur. I believe it is highly misleading, and even harmful in many cases, to say that patents are the end-all be-all to innovation. I also think that fixing the Patent Office--which will invariably mean that more people will see value in obtaining patents to support their business idea--should be viewed more as a job creation engine for patent attorneys and those who support them (including Patent Office employees), as opposed to creating jobs that can help improve the
2 Ways to Reduce Open Innovation Risk: Convert the Naysayers and Bring on the Seasoned Veterans
Open Innovation is risky. It's like letting a stranger in your house to see what valuables are there for the taking, and letting them keep the key to your secrets even after you finish working with them. For some, this perception of risk is enough to stop any attempts of Open Innovation in its tracks. Other corporations respond to the risk by "lawyering up," which, at a minimum, markedly increases the costs of proceeding or, at worst, causes the relationship to break down before any collaboration can occur. And I, as IP counsel to a number of corporations in my prior life, must admit to being responsible for shutting down Open Innovation due to my role as IP risk the person responsible for mitigating my clients' IP risk. After leaving the Friendly Confines of defined roles and responsibilities set out in my corporate and law firm life where it was clear
IP Strategist on the Radio: 2 Recent Interviews
As my consulting practice becomes ever more busy, blogging must be relegated to times when client work is not pressing--that ever-elusive free time. But now that Summer is here, free time has been hard to come by--it's hard to write when at the pool with the kids or driving to Grandma's house--but I haven't been totally giving up my outreach. I recently participated in 2 radio interviews where I discussed the value of IP Strategy for entrepreneurs and inventors. Here I was on the 40 Year Old Business Virgin Radio Show with Dave Savage, Leader and President of The Inventors Association of Georgia and a person named Mohamed who has a really cool entrepreneurial story (sorry I didn't get his last name). The hosts of the show, Kile Lewis and Ted Jenkin, are irreverent business advisors, and you should enjoy the show. (I appear in the first half).
How the Northeastern Indiana Amish Serve as a Business Lesson about Patents
I have been spending time in Northeastern Indiana--the land of my roots--to introduce my children to their aunts, uncles and many, many cousins. Catching up with extended family has made it difficult to formulate a post in the past couple of weeks, but I have a few moments this morning and wanted to capture a thought that has been rattling around in my head since I arrived here. Anyone who has spent time in this part of the U.S. will be familiar with the presence of the Amish as part of the cultural landscape. My children, as city kids, are fascinated whenever they see a carriage with families traveling along the side of the roads. However, I invariably consider about how stifling I would find it to not be able to interact with the outside world in the way that is familiar to me. In short, I wonder what it
Seeking to Sell Your Patent to a Big Company? Think About These Negotation Tips
A Patent Reality Check: Litigation Not a Viable Revenue Source for Most Inventors
The ability of an intrepid inventor to strike it rich from a great idea seems to be embedded in the DNA of many Americans. Perhaps this view emanates from the presence of patents in the US Constitution, which could create a feeling that US citizens have an "inalienable right" to use patent protection to their advantage. Alternatively, people may perceive the occasional media reports of successful inventors and substantial patent litigation awards as a signal that patents can serve as a path to wealth for those with great ideas (certainly, this is the Hollywood view). In truth, however, getting rich merely from a patent is a rare occurrence--maybe not as low a probability as winning the lottery, but the odds are incredibly long that any person can make money from a patented idea alone. Think about it: if all it took was a patent to make someone wealthy, there would be
“It’s Not You It’s Them” or “They’re Just Not into You”: Why Being an Independent Inventor is Like Dating
The view that a good idea will result in a windfall for an independent inventor seems to be embedded in the fabric of US culture--perhaps it's because the patent system dates from our earliest days. Indeed, a surprisingly large number of people think that getting a patent will result in a large company paying them huge sums of money for the ability to introduce a product covered by that patent. This belief serves to motivate countless numbers of inventors to spend $1000's on patent protection, as well as years of hopeful waiting for their patent to exit the Patent Office. Few ever see their product make it to the marketplace, however. As an attorney at a prestigious IP law firm, I really gave little thought to what my clients would do with their idea once I succeeded in obtaining a patent for them. My job was to help my clients convince the Patent Office that their