How an Entrepreneurial Law Firm Maintains Its Competitive Edge Using Patent Prosecution Analytics
Using patent prosecution analytics is an important tool for an entrepreneurial law firm to maintain its competitive edge. In addition to the cost savings associated with filing fewer lawsuits, it can also provide the firm with valuable insight into which products and technologies it should be targeting. These insights can help the firm improve its ability to protect its clients from costly lawsuits and increase its profitability.
Managing a successful business in today’s world requires an effective intellectual property strategy. Developing and maintaining a strong patent portfolio can create significant revenue streams for a client.
One law firm that has been able to maintain its competitive edge is Bryan Cave Leighton Paisner. The law firm’s IP attorneys have extensive knowledge of applicable law and can help clients capitalize on commercial benefits. They can also help inventors use their patents to take advantage of commercial opportunities.
Another firm, PatNMarks, is associated with a vintage law firm that has been providing intellectual property services since the early 1990s. They provide patent and trademark searches, due diligence, valuations, and support for prosecution. The firm also offers IP evaluation, legal opinions, and other services.
IBM IP Advisor with Watson is an intellectual property research tool that enables natural language processing of queries. It identifies relevant patents for possible infringement and improves the speed of analysis. It has also been found to increase the accuracy of results.
IP Partner’s proprietary tools, ip-invent(tm) and ip-savvy(tm), offer in-depth patent analysis. They are designed to help patent professionals quickly identify relevant information, narrow results, and validate their findings.
SPi Global is a global service company that provides complex patent analysis, market intelligence solutions, and competitive monitoring services. It serves clients in the consumer goods, healthcare, and technology industries. They have over 600 subject matter experts who provide customized solutions for large corporations. They are located near the U.S. Patent and Trademark Office and have experience in the chemical, pharmaceutical, medical, and biotechnology arts.
TT Consultants is an IP-oriented consulting firm that provides state-of-the-art search and intelligence support. Their team has international PCT examination experience. They have prior national patent office examiner status and have been providing intellectual property services for more than 14 years.
Victor Green & Company has been providing patent searching services for more than 30 years. They search by keyword, class, and structure. The firm has extensive knowledge of literature searching and quality analysis. They ensure that all of their information is accurate.
Non-infringement or invalidity opinions
Using patent prosecution analytics has become a necessity for any entrepreneurial law firm that wants to remain competitive. Not only does it help in defending your intellectual property, it also helps in establishing a robust revenue stream for your firm. For example, it can help you in designing around a problem patent or introducing new products without breaking the bank.
A reexamination proceeding can invalidate a patent when relevant prior art is discovered. Alternatively, it can be used as a way to validate the validity of a patent owned by a third party. A reexamination can also be a less expensive alternative to litigation.
The United States Patent and Trademark Office instituted a new inter partes reexamination procedure a few years ago. This process is designed to be less costly and time-consuming than a traditional litigation strategy. This is because it allows defendants to file a request to stay the case pending a review of the patent’s validity. During this phase of the proceedings, parties may also introduce extrinsic evidence to prove the infringement in question.
In the end, the reexamination process was a non-issue. A few months later, Versata Development Group, Inc. filed suit against SAP for infringing its patent on pricing products. The patent was issued on the same day as the declaratory judgment action.
While this case is one of the most interesting cases in the history of patents, it isn’t the only time it has happened. In fact, it’s been said that fewer than one percent of patent applications are ever subject to such a review.
For the same reason, a patent infringement study is a useful tool to understand whether your product will infringe upon another’s patents. During such a study, you can identify the problem patents and design around them. It’s also a good idea to evaluate any license agreements proposed by third parties.
It is also a good idea to conduct a freedom to operate study, which will help you decide how you can make your products without infringing on someone else’s copyright or patent.
Texas Instruments attack the Asian invaders with patent litigation
TI’s lawyers and engineers developed a strategy to reverse engineer every memory chip that came from Korea and Japan. This would give them an idea of which designs infringed on TI’s patents. TI’s lawyers then went to court to file suit against all of the defendants. The company also filed a complaint with the International Trade Commission in Washington, D.C., which has the authority to stop companies from selling chips in the U.S. If the case was not resolved, TI would be shut out of the market.
During the course of its litigation, TI accumulated legal fees of about $10 million. This was a considerable financial burden for the smaller companies that were not able to sustain this expense. The firm’s lawyers were able to call upon business allies from across the corporate world to help with the campaign. This included the American Bar Association’s Rule of Law Initiative. These efforts, coupled with the firm’s effective lobbying, were key in the United States filing an anti-dumping complaint.
The TI campaign was a landmark in high-tech legal strategies. It changed the way companies thought about patents. Instead of seeing them as trading materials for free use of someone else’s intellectual property, TI turned them into a competitive advantage. It sought to charge competitors a heavy access fee, which TI could collect from licensing deals.
In the end, TI’s litigate-and-license strategy repositioned the company’s basic profit model. It required significant resources, but it also yielded millions in royalties. The company employed 350 attorneys and 29 different law firms. It was estimated that TI earned $1 billion in royalty income over the five-year term of its settlement agreements.
With a more innovative legal approach, TI transformed its patents into a powerful competitive advantage. It also set the stage for a new market segment, which was accompanied by major changes in legal rules. This innovation is not unique in business history. It is just one of the many ways that companies can maintain a competitive edge by using patent prosecution analytics.