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 firstname.lastname@example.org .
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