Which of these “Patent Myths” Are Impacting Your IP Strategy?
There’s a lot of misinformation about patents out there. Here are some of the top “Patent Myths” we’ve heard recently:
MYTH: The lack of a significant patent portfolio won’t affect your company.
REALITY: By not protecting all your potentially patentable inventions you are “leaving money on the table.” In fact, having a patent portfolio can increase the valuation of your company by nearly 30%.
MYTH: There’s always been a steady flow of companies patenting their inventions. It’s a normal part of business and there’s no reason to prioritize it.
REALITY: Currently companies all over the world are participating in an intellectual property “land grab.” According to WIPO, overall patent activity is up strongly (8.3% annual growth) and globally as China is turning up the IP heat big time (21.5% annual growth).
MYTH: To protect your inventions with patents you need to hire an IP law firm.
REALITY: Companies large and small are working with TurboPatent to obtain better quality patents in about half the time and at half the cost of a law firm. (Our “secret sauce” is AI-powered patent tools help us draft extremely high quality patents very quickly).
We’re always happy to answer any questions about patents or the patent process. Contact us here.
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Seattle, WA 98104, United States