A patent provides an exclusive right, for a limited period of time, that can be used to prevent others from making, using, importing, or selling products and/or carrying out processes covered by the patent. This is all well and good for a multinational corporation that has the means to police their patents and sue infringers, but where is the value for smaller innovative companies, such as startups or SMEs, which are unlikely to have the resources to do that? Obtaining patent protection can be expensive and uncertain, so what’s the point?
The UK IPO recently undertook a Worldwide review of Artificial Intelligence patents, focussing specifically on patenting by the UK AI Sector. We give a summary of the main take-away points.
Many of our clients are startup companies who are looking to secure funding from investors to help them develop to a point at which they can ‘exit’. Typically this may involve a buyout from a larger company.There are three core categories of an effective patent strategy that may be scrutinised by investors or potential buyers: