How Companies Can Hit the Mark with Patents

As an IP Strategist, I’ve questioned time and time again why most patents fail to deliver the intended effect of bolstering long-term profits for their owners. I’ve concluded that too many patents read like diagrams intended for assembling products from separate pieces. This effectively means that the patenting process focused more on the structure of the product and not the functionality delivered. This is the opposite to what one needs to do: the customer buys the product’s function, not the structure. If you keep thinking and using the same ineffective patent strategies, you’re going to get the same results! I suggest you begin to think about patents from a different perspective to achieve the kind of success your company’s stakeholders will appreciate in today’s competitive market.

My approach to patents is different. Together with my client, we create patent protection directed to enhancing long-term profits to be generated by a company that successfully brings innovative products to the market. In short, I think it’s important to understand how patents cover the market opportunity being served vs. how they cover the product being sold. For success, you must think about crafting claims that define the broad outlines of the value proposition and how the product’s function drives customer demand, with the product being the “delivery system” for that needed function. For specific details, examples and steps to avoid common pitfalls, read Why Most Innovative Companies Miss the Mark with Patents