On April 7, 2015, the USPTO issued U.S. Patent No. 9,000,000.
Even if there were so many patents that were issued up to now, however, the
number of patents that were commercially exploited and monetized successfully was
very small. This is similar to the situation that, even if there were so many
innovators and entrepreneurs, only small numbers achieved commercial success
from their ideas.
In “The Innovator's DNA”, the authors identified the code
of successful innovators that distinguishes them from others based on the case
study of well known successful innovators such as Steve Jobses and Jeff Bezoses.
The key lesson from the research of the innovator’s DNA was that the successful
innovators’ DNA is not simply genetic traits endowed, but that they can be
developed. Then, by the analogy, one can ask similar questions for patent: What
make the monetizing patents different?; Can we find the code of the monetizing
patents?; Can we identify and develop the monetizing patents?
Monetizing patents protect the market for commercially
successful products/services from competitors. Monetizing patents can be
exploited as financial/investment assets or through licensing to other parties for
additional cash flow. Followings are the monetizing patent’s DNA uncovered from
the case study of carefully selected monetizing patents through the integrated technology,
legal and business analysis.
·
Monetizing patents solve the right technological problem: the
right technological problem is a problem in great needs of improved/innovative
solution; the right technological
problem is recognized well in an industry; the right technological problem
leads to a solution that has great business impacts; the solution of the right technological
problem follows the correct evolutionally pass for emerging technology.
·
Monetizing patents practice value innovation: monetizing patents
provide unique value proposition with maximum market protection; monetizing
patents provide values to customers without additional cost/pain or
infrastructure/process change requirements.
·
Monetizing patents actively participate in the business
ecosystem: monetizing patents can be a platform or integrated into a platform; monetizing
patents form a dominant design or industry standard; monetizing patents form
diverse value chains; monetizing patents derive the value for M&A.
·
Monetizing patents are legal savvy: monetizing patents are
created following the case laws and statutes to obtain maximum legal rights; monetizing
patents are the litigation-proof patents; monetizing patents adapt to dynamic changes
of legal environment.
For more information regarding the methodology for identifying
and developing monetizing patents, please contact Alex Lee at
alexglee@techipm.com .
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