IP: 7 benefits of an intellectual property committee

IP committees help companies to think strategically and minimize costs

Innovators and patent owners should think strategically about how to maximize the patent budget, while intelligently and efficiently protecting and defending innovation. Companies also need to understand the resources available to monitor the intellectual property of competitors and potential acquisitions.

As mentioned in earlier articles on information disclosure systems and subject matter conflicts of interest, an intellectual property committee is key to thinking strategically, moving quickly and minimizing costs when reviewing company intellectual property (IP).

4. Create patent savvy R&D teams: Companies that base their bottom line on innovation lose money every year by not educating research and sales teams on patent basics, including inventorship, documentation and the implications of public disclosures of inventions. An IP committee can track trademark use on company products and services and ensure it corresponds to the registered goods and services. An active IP committee also can develop and disseminate information to technology managers that is targeted at the specific needs of the company, as opposed to general information, along with developing meaningful training programs.

5. Develop an intelligent foreign filing strategy: The Patent Cooperation Treaty process and foreign filing of applications have changed considerably over the last five years. It may be desirable to file in every major country, but can your company defend and enforce those patents? Also, consider the average cost of patent protection in each country is roughly $10,000 per patent application per country. In Europe, the costs increase to $15,000 to $20,000 per application. 

Contributing Author

author image

Sandra P. Thompson

Sandra P. Thompson, J.D., Ph.D., is a shareholder in the Orange County office of Buchalter Nemer. Her practice focuses on intellectual property, specifically, patents and...

Bio and more articles

Join the Conversation

Advertisement. Closing in 15 seconds.