Blog post 16 Invent

INSIGHT 12 | PRAGMATISM MATTERS

Patents add weight to your idea but can also weigh it down.

Ever asked yourself if you’re protecting something people actually want?

Simply following convention can be costly.

How sure are you there is method in your madness?

in¹² | Pragmatism Matters

The patent smokescreen… Vanity or validation

That magical moment, your idea has finally been validated, and all your hard work has been rewarded. Your patent has been granted and published to the world. You’re an inventor!

You’ve earned your place alongside such greats as Edison; now he can genuinely lay claim to a true lightbulb moment! Or perhaps lesser-known inventors such as Steve Blanks; he wrote a book on innovation as I recall?

It’s important to appreciate that Thomas Edison didn’t conceive the idea, that accolade had long gone, but significantly he unlocked the puzzle that made it commercially viable. He also ceased to be in conflict with those in pursuit of the same goal. Instead, following a patent dispute, he joined forces and merged with Joseph Swan, whilst still being the driving force behind a technology that would change the world. Two inventors on opposing sides of the pond who were stronger in partnership than in competition.

Heads up everyone, consider this a half time team talk, as the tactics are about to change.

Securing your intellectual property (or IP as its succinctly known for those lovers of an acronym) is more than a badge of honour. It’s the platform upon which your business is founded, don’t you agree?

The competition is locked out, the path ahead is clear, you alone are free to exploit your hard-earned IP. Surely?

Like most things in life there’s nuance, a perspective that is borne from your ambition and what you’re striving to achieve.

If you’re planning to appear on Dragon’s Den, then that’s one thing. You’re ambitious and prepared to do whatever it takes to move forward. If that means facing the intimidation of the Den and securing a dragon or two (who knows, you might even bank a full house, if that’s the right term), then good luck!

To an investor a patent, especially a global one, carries weight. It’s something they can put a number on, a tangible asset. Under that premise there’s a clear purpose, after all they can help catapult your business forward. They have the contacts, the know-how, they’ve earned the reputation that makes all the difference. So, if you aspire to be the leading brand in your field or list on the London Stock Exchange, why not? This could be the catalyst, the missing link.

And if they’re foolish enough to turn you down; well, there’s no such thing as bad publicity, right? Many who have failed to secure investment have gone on to prove the dragons wrong; a quick binge through historical episodes will show they’re not predisposed to back anyone in the early stages of their journey.

It's equally likely that you are creating a business for you, something collaborative, perhaps in partnership with family or friends? In which case recognise that ambition for what it is and invest where your limited cashflow has the greatest long-term impact.

In simple terms my advice is this; protect only what you’re prepared to defend.

There is no denying there’s a cost to protect, and here again, vanity often plays its part. The pursuit of global protection is not only financially prohibitive; it’s often unnecessary. The golden rule is to cover your home territory, where you will make and sell your product. Personally, my aspiration is to develop products UK born and bred, assuming the competitive landscape allows.

Once it’s clear you have something novel, something with the strength to protect both the product concept and the features that make it unique, you can then consider extending the scope to other territories. The holy grail of patents is to protect the purity of the concept, that core principle, that no one can work around. With that covered, the world’s your oyster as they say.

One thing to appreciate is that once you’ve filed your application, bared your soul to the examiner who will confirm or reject your claims, the clock starts ticking. Setting your IP stopwatch in motion fixes a deadline date that now controls your development programme.

Take too long to validate your idea and you’re faced with a decision you might regret. Many have found the development phase more challenging than they ever imagined and they are left with a quandary…

• Forget protecting beyond local market borders due to uncertainty, a lack of clarity at the point of decision.

• Delay or cancel any IP protection altogether due to a lack of funds.

• Forge ahead and file a European or global application, a decision potentially driven not by product validation but by personal confidence.

If you’ve reached this point, it’s clear you have something of value, worth protecting. If your ambition extends further afield, then consider filing a regional or global application. This will reset your stopwatch and define a new finite deadline. Take this time to consider the benefit. Will sales justify the cost of proceeding to grant in any specific country?

As a rule of thumb, it’s generally best to focus on major manufacturing territories and markets where your product will sell in volume. Industrialised regions such as Europe and America don’t require translation, unlike Asian territories, where translation adds significant costs. With modern AI tools, let’s hope that changes soon.

I’ve met inventors pitching product ideas and seeking heavy investment simply on the back of some early (sometimes flawed) prototypes, supported by a global patent granted in countries with limited sales potential. This undue burden of costs is often perceived by the inventor and their backers as a mark of value, proof of their own confidence and wider market potential.

However, proof that an idea is unique in a particular country does not necessarily manifest into tangible sales. Sadly, it’s often the reverse. Heavy investment in IP can overvalue a business and become a long-term financial dead weight. Real validation doesn’t come from the patent office; it comes from the market.

Out of necessity a few of us brave souls have written and illustrated their own patent, so it can be done. There is no doubt this is an area of great expertise, entwined with its own technical language, not a linguistic one but a cipher code that even Alan Turing might have to re-read for clarity. So please seek professional advice; someone who clearly grasps your idea and understands how best to frame it to smooth the path to grant.

So, I implore you to consider how best to protect what you’ve built. From our NDA insight in¹ you know I’m hot on protecting your interests. That said, never let the pursuit of a patent become the overwhelming objective. Innovation isn’t invention; they don’t have to come hand in hand. Innovation is about exploiting ideas that create value and protection is simply a means to slow others down and give you a head start.

Remember, please don’t rush to protect, unless of course money is no object. The optimum time to file is when the design has substance, a degree of validation that embodies confidence, and the solution is not only viable, but preferable to others you have discarded after due consideration.

Takeaways…

• File local, keep the initial cost low.

• File when ideas have substance and credibility.

• Keep an eye on the clock, it’ll run down faster than you thought.

• Select your territories with care, based on sales potential alone, not vanity.