IP as a Business Tool
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Intellectual Property as a Business ToolIntellectual Property as a Business ToolFrisina, LLC
Creating Wealth Through Intellectual Property TM
www.frisinaIP.com
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
IntroductionRepresentative Sectors • Chemicals• Polymers• Pharmaceuticals• Biotechnology• Biomedical• Medical Imaging • Advanced Materials• Nanotechnology• Semiconductors• Medical Instruments• Medical Tests• Liquid Crystals• Power Generation• Fuel Cells• Software• Internet Law• Business Methods
453 South High Street Suite 302
Akron, OH 44311
(330)338-0589 [email protected]
www.frisinaIP.com
Our mission is to create wealth for our clients through the strategic use of intellectual property.
Our mission is to create wealth for our clients through the strategic use of intellectual property. We understand the challenges facing businesses, and strive to secure and monetize our clients’ intellectual assets by couching sound legal strategy in innovative IP and business intelligence. With our combination of technical and legal expertise we are uniquely positioned to guide clients through the legal maze of intellectual property strategy facing both start-ups and more established ventures.
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
IntroductionIntroduction
• Patent BasicsPatent Basics
• From Conception to Capitalize From Conception to Capitalize
• Offensive Strategy: Excluding CompetitorsOffensive Strategy: Excluding Competitors
• Defensive Strategy: Maintaining Your Freedom to Operate Defensive Strategy: Maintaining Your Freedom to Operate
• Monetizing IP Monetizing IP
• Do I Need a PatentDo I Need a Patent
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Patent BasicsPatent Basics
• Patentable subject matter– Any “…useful process, machine, manufacture, or composition of matter”
35 U.S.C. §101
• Confers the right to Confers the right to exclude othersexclude others from: from: – making, using, selling or offer to sell, or importing into the making, using, selling or offer to sell, or importing into the
United States United States
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Patent BasicsPatent Basics
• TerritorialTerritorial– Only enforceable within the issuing nationOnly enforceable within the issuing nation– A foreign inventor can obtain a US patent and vice versaA foreign inventor can obtain a US patent and vice versa
• Time-limited Time-limited – Generally 20 years from the earliest effective filing dateGenerally 20 years from the earliest effective filing date
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Patent Basics: Statutory BarsPatent Basics: Statutory Bars
• Certain acts can forfeit patentability Certain acts can forfeit patentability – Public disclosure, sales, offers for sale, etc. Public disclosure, sales, offers for sale, etc.
• Time limitsTime limits– one year grace period in the USone year grace period in the US– Immediate forfeiture in most foreign countries Immediate forfeiture in most foreign countries
• Absolute novelty requirementAbsolute novelty requirement
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Patent Basics: Legalese
Legal Term
Art:
Prior Art:
Enabling:
Definition
Any technology
Any technology preceding your invention that may preclude patentability
Providing enough information so that a person having ordinary skill in the relevant art can make and use the invention
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Patent Basics: Legalese
Legal Term
IP:
Practice:
Reduction to Practice:
Definition
Intellectual Property including patents, trademarks, copyrights, and trade secrets
Technology is “practiced” in the same sense that law or medicine is “practiced”
An invention is said to be reduced to practice when it has been developed to such an extent that it could be made using only ordinary skill in the art.
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Patent Basics: Legalese
Legal Term
Assign:
Technology Space:
(aka “patent space”)
(aka “art space”)
Definition
To transfer ownership
The space defined by a set of inventive variables.
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Technology Space
Robotics
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Technology Space
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
From Conception to Capitalize
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
From Conception to Capitalize
• Four Stages: – Conception – Proof-of-Concept– Commercialization – Enterprise
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Concept Stage
• Conception; The Idea Stage – Focus of Activities:
• Investigating potential duty to assign • Determining the business model, and objectives• Assessing the patent landscape• Gathering resources: financial, technical, etc. • Maintaining secrecy
– Sources of capital • Personal finances, credit cards, family and friends.
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Concept Stage
• The Business Model – Product: robotic devices for blister packing pills – Manufacturing: local (USA)– Markets: Worldwide, esp. USA, Europe, Japan, China– Distribution: inside sales directly to end users
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Concept Stage
• Assessing the Patent Landscape– Where is IP activity occurring in our patent space?– Who are the players? – How well resourced are my competitors? – What is my litigation risk in this patent space? – How well developed are my competitor’s patent portfolios? – How will the IP landscape change over the next 5-10 years?
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Concept Stage
Assessing the Patent Landscape
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Concept Stage
Assessing the Patent Landscape
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Concept Stage
Assessing the Patent Landscape
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Concept Stage
Assessing the Patent Landscape
•State-of-the-art search (a/k/a “collection search”)
– All patents in a given technology space
– Includes summary statistics and visualizations
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Concept Stage
• RecapDetermined the business model, and long-term objectivesAssessed the patent landscapeGathered resources: financial, technical, etc. Maintained secrecy
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Proof of Concept Stage
• Proof-of-Concept– Focus of Activities:
• Initial R&D to determine feasibility • prototyping • Likely to engage consultants and/or contractors• IP acquisition • May need outside funding
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Proof of Concept Stage
• Sources of funding: – Personal resources– Some state, local, and private funding sources are available
but it is very competitive e.g. JumpStart, LCCC/if* (25k/100k), Third Frontier
*Lorain County Community College Innovation Fund
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Proof of Concept Stage
• Incubators – Akron Global Business Accelerator (AGBA), GLIDE, Kent
Regional Business Alliance, MAGNET, etc. – Can be a great way to
• Build business relationships • Get coaching• Get facilities • Get funding leads
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Proof of Concept Stage
• Initial R&D and prototyping– DIY – Contract services:
• Scientific, engineering or other consulting firms
– Use NDAs and NCs until a patent application is filed
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Proof of Concept Stage
• IP Candidates: – Technology A: blister pack grabber – Technology B: blister pack loader– Technology C: blister pack sealer
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Proof of Concept Stage
• IP Acquisition – Strategically selecting technologies for patenting – Patent Availability/Novelty Searching– IP Intelligence Gathering – Preparing a patent application(s)
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Proof of Concept Stage
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Proof of Concept Stage
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Proof of Concept Stage
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Proof of Concept Stage
• IP Candidate Selection is based on – Patent Availability Opinion– Freedom to Operate (FTO) – IP Intelligence Report
• Our Choice: – Technology A: blister pack grabber
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Proof of Concept Stage
• Patent Application Filed– We are free to openly promote/disclose our invention – BUT BE CAREFUL
• Trade secrets• Subject matter not contained in the as-filed patent application
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Commercialization
• Focus of Activities: – Potential new funding issue– Acting on the business model with our long-term objectives in
mind• Making products• Setting up distribution • Selling products
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Commercialization
• Sources of funding – SBA Loans for moderate requirements – State/local/private grants and/or loans– VC and Angel investors
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Commercialization
• Outsourcing versus manufacturing in-house – Outsourcing is an attractive option for new market entrants– In-house Manufacturing:
• Is a rare skill or specialized facility required?• Is the risk of disclosing your know-how is too great?• Is manufacturing very low volume?
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Enterprise Stage
• Concerns and Opportunities – Sales growth – IP Strategy – Never stop innovating
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Offensive Strategy
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Offensive Strategy
• Exercising the right to exclude others– Beyond reserving your niche
• Populating a patent space with a patent “family”
• Offensive strategic planning should include– Business executives, Legal, and R&D
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Offensive Strategy: Patent Space
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Offensive Strategy
• Raise competitors’ cost of doing business– Legal costs, R&D costs, operations costs…
• Using NPE’s to your advantage – Non-Practicing Entities (aka “Patent Trolls”)– Sell/assign your IP but retain an exclusive license
• Let the troll litigate and pocket the proceeds
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Offensive Strategy
• IP “abatement” insurance policy– Pays for the cost of enforcement
• Enforcement – Enforcement begins with a C&D letter
• Litigation may be necessary
– Force a settlement – Litigate
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Defensive Strategy
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Defensive Strategy
• “The best defense is a good offense” – Yogi Berra
• Defensive strategy is also risk management – Risk of having to sue others– Risk of being sued
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Defensive Strategy Risk Management; Preventative measures
• Patent availability searching– Identifying potentially
problematic art• Draft around, • Flag for design around, or • Abandon early
• Freedom to Operate (FTO)
• IP purchases or licensing-inIP purchases or licensing-in
• ContractContract– Non-Compete agreementsNon-Compete agreements– Joint Development AgreementsJoint Development Agreements
• Defensive publication
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Defensive Strategy
• Defending against patent infringement – Self-financed defense– IP Insurance
• defense policy• defense and indemnity policy
– Defensive patent aggregation services • Primarily for large entities
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Defensive Strategy
• RPX Corporation www.rpxcorp.com
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Monetizing IP
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Monetizing IP
• Sale or Licensing-out– Non-core technology, – Non-productive technology– Non-threatening technology
• IP auction houses – www.redchalkgroup.com – www.adaptipventures.com – www.patenttransferltd.com
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Monetizing IP
• Securitization of IP– Bond issue – Backed by licensing or royalty revenues– Existing income stream required – ipCapital Group (www.ipcg.com)
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Monetizing IP
• Commercial lending – IP as collateral; must have “explicit” value – 10-40% LTV – Many banks do not make pure IP loans
• Angel investors or venture capital – Usually based on the IP’s speculative or “implicit” value – Warning: VCs want to be in the driver’s seat
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Do I Need a Patent?
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Do I Need a Patent?
• Is a trade secret more appropriate? – Consider patentability (new, useful and nonobvious)– Consider the product life cycle
• Is your true interest exclusivity or stamping “patent pending” on your product
– Consider the difficulty of reverse engineering or independent development
• Cost benefit analysis– The cost of patenting (or failing to patent) versus the benefit conferred
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Do I Need a Patent?
Cost/Benefit:
1. How much money do I stand to make?a) What would it cost to develop a product embodying the invention?
b) What would it cost to manufacture and market the product?
c) How much can I charge for the product?
d) What is the size of the market for the product?
2. … versus without a patent?
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Do I Need a Patent?
If the difference between your share of the market with exclusivity versus without is greater than the cost of patenting then a patent is worth while. (e.g. initially about 5K plus up to an additional 15 to 20K over several years).
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
Do I Need a Patent?
Recap: 1.How much money do I stand to make?
a) What would it cost to develop a product embodying the invention?
b) What would it cost to manufacture and market the product?
c) How much can I charge for the product?
d) What is the size of the market for the product?
2.… versus without a patent?
Additionally:3. Do I intend to seek capital investors?
– IP is generally required
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
When to Patent
Conception Proof-of-Concept Enterprise
•Factors: – Stage of development – Activity of your Competition – Cost versus resources on hand
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Copyright © 2007-2011 Frisina, LLCCopyright © 2007-2011 Frisina, LLC
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