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Patent Acquisition: Strategies for Business Expansion

Updated:2018-10-16 11:55:19    Source:www.tannet-group.comViews:140

Patent acquisition refers to purchase the registered patent. A patent is generally a tool that allows you to protect your inventions, technologies and products from other people. Patents are valuable assets and are being transacted in the secondary market. Lack of IP poses a challenge of patent infringement not only within the country but also when companies plan to go global. At such a time, patent acquisition of foreign assignees helps support the goal of having global business operations.

The best way for technology companies to defend its products and gain the freedom to operate is to acquire specific patents that support your strategic business objectives and address your competitors’ business as well. Therefore, for technology companies to stay ahead of the game, you need to include patent acquisition into your company’s IP portfolio growth plan alongside patent filings.

Importance of Patent Acquisition
Closed innovation can lead to the negative outcome of reinventing the wheel to a high degree and unnecessary R&D expenditures. Companies should buy or license technologies or inventions from external partners and dispose or license out those internal inventions not being used. This is the attitude adopted by many of the world’s most innovative companies. There are at least 3 key benefits for patent acquisition:

1. Increase Profitability
Innovating entirely in-house can be time-consuming and costly. Acquiring patents and know-hows can accelerate your company’s innovation process and increased profitability and greater market share.

2. Leverage External Resources
Looking externally can lead to more and better ideas. Future is difficult to predict but many bright ideas are publicly available if you know where to find them.

3. Build your Licensing Strategy
If you have a licensing strategy in-place, acquiring high quality patents can strengthen and expand your licensing activity and yield higher return on your investment. Strategic patent acquisition can also enable you negotiate cross-licensing deal with your competitors which can potentially save you millions of royalty payment.

Considerations on Patent Acquisition
There are a lot of parameters that need to be considered when you acquire patents. The first question should be: what’s the purpose of the acquisition? Then, depending on the areas of technology you’re interested in, you have to identify assets that are within your specific technology scope and review different aspects of the patents like the claims and priority dates in order to ensure that they’re aligned with the strategic goals you are looking to achieve. And lastly you have to make sure that the patents you’re considering to purchase could be actually available for sale.

Patent acquisition requires careful management, timing, and negotiation skills. With our expertise and experience, we offer a streamlined process for looking for finding the most valuable and suitable patents to acquire. In recent years, China has witnessed more patent applications than ever. But do you know that China is also buying more. Tannet has relationship with a number of overseas IP firms and has a grasp of some registered patent resources. Should you have any need, we are glad to help.

Contact Us
If you have further inquires, please do not hesitate to contact Tannet at anytime, anywhere by simply visiting Tannet’s website www.tannet-group.net, or calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82143512, or emailing to tannet-solution@hotmail.com. You are also welcome to visit our office situated in 16/F, Taiyangdao Bldg 2020, Dongmen Rd South, Luohu, Shenzhen, China.

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