I am often surprised at how few patent attorneys seem to take a genuine interest in a client’s business. I’m not suggesting that your intellectual property (IP) counsel should be analysing your P&L at the start of any engagement, but they should at least have a strong grasp of your business model and an insight into your market positioning. It is only by understanding these factors that they can properly advise on your IP options.
Decisions on whether to file a patent application or how to proceed with an application are inherently linked to your business objectives. IP can provide great business value when it supports your objectives, and potentially zero value when it doesn’t.
To gain true value from your IP you should be regularly assessing the relevance of your IP portfolio with your patent attorneys and making positive decisions to proceed in a way that provides continued value to your business. Remember that a positive decision is often to do nothing, or to abandon or transition IP that provides no further value.
So, if you feel like your patent attorney is handling your IP in isolation it is unlikely you will be positioning yourself to get the best value from your IP.
If you would like to find out how we can help you use IP to drive your commercial advantage, please get in touch.