Evershine IPO can help you to commercialize your patents in Taiwan and China per your expectations.
Return on Investment of Invention
As long as the inventors or invention owners obtain patents on their inventions, they might try to collect the benefits from their investments on their efforts of developing their concepts of their inventions and on filing their patents. The way to collect the such benefits is so-called “Commercialize Patents”. From the viewpoint of the inventors or invention owners there exist a few possible ways for commercializing inventions:
- to start own manufacturing and marketing the product based on the invention,
- to license the rights in the invention,
- to sell the patent rights, or
- any combination of the above.
The decision which way to choose will depend on a variety of factors, among which the cost and benefits analysis will often be decisive.
The income an invention may generate will depend directly on the investment made for its development and marketing:
- the highest return (or benefit) for the inventor may be expected when he decides to start its own production based on the invention, but this approach will require also the largest investment;
- the benefit for the inventor will be much lower when he decides to license or even to sell his patent rights at an early stage of development of his invention.
Who Are the Stackholders of Commercializing Your Patents?
The possible license partners or buyers for an invention may be approached in different manners, such as, inter alia, direct contacts with companies, contacts through Chambers of commerce and industry or similar organization, contacts through professional or industrial associations, by participating in specialized exhibitions or by using the services of an invention broker. It is advisable that all contacts should be carefully coordinated and monitored by establishing a public relations plan. The commercial success of an invention will depend largely on a reliable and dynamic partnership.
Practice has shown that in order to be successful in the commercialization or marketing of inventions, the inventor of his company will need to have access to several or all of the following services:
- technical and technological evaluation of inventions and innovative projects,
- economic evaluation and market studies (i.e. feasibility studies),
- legal advice and assistance,
- contacts with potential users,
- experience in business negotiations,
- contacts to mobilize and attract seed and start-up capital or venture capital,
- assistance in obtaining industrial property titles, including patenting of inventions or registering trademarks,
- assistance in publicity matters and preparation of public relation campaigns,
- advice and assistance in prototype manufacturing, etc.
Grant v.s Commercialize Patents
Patents are granted on technical criteria and not on the basis of commercial or market criteria. The exclusive rights which are conferred by the patent relate to the commercial exploitation of the invention, and do not preclude another person from experimental work using the technological information contained in the patent specification. In other words, while the patent owner can prevent others from using, for commercial purposes, the same technology as is revealed in the disclosure of his invention, he is not protected against those who derive from his disclosed invention a perception of a market need which may be satisfied by the legitimate adaptation or improvement of his technology, or through the discovery of a different technical solution to satisfy the same market need.
How do Patents help Inventions to be Commercialized?
The accumulated store of information which is contained and classified in patent documentation constitutes the single most valuable and comprehensive source of technological information available in the world today. As a source of technology and commercial and legal information, patent documentation has a number of distinct advantages:
- the technology contained in patent documents is, by definition, new industrial technology. It is a condition of the grant of a patent that the invention for which the patent is claimed be new, workable and capable of industrial application;
- patent documentation contains both a historical record of the evolution of a particular technical field, and a record of the most recent advances in that field;
- patent documentation also contains an extensive range of technological information which has not been published elsewhere; Such technological information would appear in traditional information sources much later than its publication in the application or the patent;
- a further advantage of patent documentation as a source of technology is that it is usually published in a uniform structure and form, which typically includes a summary of the invention, a description of the invention and how it differs from the prior art, and, of course claims, that define the scope of the invention. Very often it contains also drawings and an abstract of the invention to facilitate easy reference;
- additionally, patent documentation is usually classified in such a way as to enable a searcher to retrieve documents belonging to any given field of technology, thus facilitating comprehensive access to sources of technology in that field;
- patent applications and patents contain the full names and addresses of the inventors, applicants and patent owners (patentees), and thus provide a means for identification of the owners of rights in relation to technology;
- patent documents provide information on the state of protection of a given technology or invention.
Start Commercializing Your Patents
If you want to commercialize your patents and generate profits from your investment on your inventions successfully, please seriously try to answer the following questions to start commercializing your patents:
- What is the state of development of the invention or technology?
- What is the state of legal protection of the invention or technology?
- no protection,
- patent application filed in home country, (when)
- patent applications filed abroad (where and when),
- patent granted in home country (when),
- patents granted abroad (where and when),
- patents abandoned (where, where and why).
- Who is handling the patent applications and other industrial property matters?
- in-house experts,
- outside professionals?
- How reliable is the patent protection in the home country and in the foreign countries, where applications have been filed or patents granted?
- Who are the potential users of the invention?
- manufacturing enterprises,
- the general public,
- specialized end users,
- What would be the expected economic effect and other benefits of using the invention for the future user or customer?
- list the advantages compared to existing products or technologies.
- What financial resources (risk capital, especially seed and start-up capital) are available for
- developing the invention,
- obtaining patent protection,
- manufacturing and marketing of the products, etc.?
- Which way of commercialization will be chosen?
- own manufacturing and marketing of the products,
- granting an exclusive license to one partner,
- granting several non-exclusive licenses,
- selling the patent rights.
- How big or how small to begin? What will be the cost of introducing a new product on the market? What is the minimum profitable volume of production?
- Are there similar products in the market? If yes, would consumers rather buy the competitor’s products than yours because they are better in quality and more practical for the purpose than your invention?
- Who are the competitors and what is their market position?
- Do you envisage using a trade mark?
- Will the marketing be done with own resources or will it be commissioned to some professionals?
- Will commercialization of the invention begin in the home country (local sales) or will it start at a larger scale in other countries (i.e. exporting the products of the invention)?
- If participation in specialized exhibitions (including inventors’ exhibitions) is envisaged, what are the objectives? Who will be the clients to be met?
- Should the commercialization of the inventions be entrusted to commercial brokers? What are the advantages offered?
Please feel free to contact us for detailed informaion.
Evershine CPAs Firm//Evershine IPO (Patent Attorney) Firm
Dale Chen Principal Partner CPA/Patent Attorney/MBA
Office Tel: +886-2-2717-0515 E100
Address: 6th Floor ,378, Chang Chung Rd, Taipei City, Taiwan
J. R. Yang Patent Engineer
Office Tel: +886-2-27170515 Ext: 121
Address: 17D, Oriental Kenzo Apartment C, No. 48 Dongzhimen Outer St. Dongcheng District, Beijing, China
Manager Zoe Zhou (In both English and Chinese)