Some patently clear benefits
hy file a patent application for something that may never see the light of day? It’s a fascinating question with many permutations for budding innovators and big enterprises alike.
With that in mind, I was interested to see the recent example of Amazon being awarded two new delivery drone patents. The notion of drone-based package delivery is being tested by the e-commerce giant in the UK and it evidently has vast potential.
Amazon’s latest patents outline ideas for robotic adjustable wingtips and legs that would act as landing gear to help drones touch down on uneven surfaces, with technology that could help to mitigate adverse wind conditions.
But before you get too excited about the idea of parcels being flown your way, bear in mind that the company has a reputation for being an aggressive filer of patents and only a minority of these become products that make it to market.
But why would any company go to the effort and cost of protecting an idea that won’t necessarily become a reality? There are many prudent reasons.
For instance, you may plan to license or sell your idea to another company as it could become a more viable proposition in the hands of others, in which case a patent can be a valuable asset during negotiations. Primarily, it gives your buyer confidence that their investment will be protected.
Indeed, many companies will only consider the purchase of ideas and inventions when they’ve been patented or suitably protected with other forms of IP and that is often reflected in the value, in turn handing you more negotiating power.
Licensing your patented idea to another company, which then manufactures and sells it, can allow you to earn a percentage of the income from it.
Patents provide you with an exclusive right to prevent or stop others from commercially exploiting an invention for 20 years from the date of filing the application, so they may give you valuable breathing space.
Patenting requires a full disclosure of the invention, and generally those details are then made available to the public at large.
The amount you pay annually in renewal fees generally starts low and increases every year that your patent is “live”, avoiding the placing of too much of a financial burden on you in the early life of your patent.
More basically, patent portfolios can demonstrate the high level of expertise in your company, whether the ideas within it have been developed or not. This could prove invaluable for raising funds, enhancing your company’s market value or finding and securing business partners. In fact, taking the time to patent what might once have seemed like a strange idea could one day hold the key to your company’s future. •Graham Mcglashan, partner for Marks & Clerk LLP