We all know the patent application process can cost $20,000 or more — and often much more. This alone should give those of us who obtain patents reason to pause and consider how we can and should do better relative to generating patent strategies for clients. Some of my peers will say that patent protection has more hurdles to overcome and requirements to meet today than in years past, and this contributes to the high cost.
Certainly, this is true, but merely shrugging our shoulders and saying something akin to “I’m doing the best I can under the circumstances” is not a satisfactory option for clients who are relying on patent protection to enhance the value of their businesses. Instead, it is necessary to try something other than status quo patent strategies with a goal of getting better results for our clients.
While I cannot (and would not) guarantee positive results for my clients, time and again I have seen that by taking an approach focused on generating client business results can lead to patents that hold more broad and commercial relevance, and that are generated at a lower overall cost more quickly. Case in point are successful patent outcomes that indisputably resulted in increased business valuations for my clients.