Business patents report - Essay Example

The volume of mid-sized firms and larger software conglomerates seeking patent protection on newly-developed software packages is minimal. In most technology segments, approximately 80 to 95 percent of companies have no patent protections. It is recommended that our business, as a means of securing competitive advantage, attain patent security on the new software project, allowing for licensing opportunities as a strategic marketing and growth strategy. Apple Inc., as a most recent example, is beginning to set a business trend for using patent authority to restrict competition in various mobile applications.

Following suit, other companies in the software segment are beginning to analyze their innovative intellectual properties for opportunities to exploit their unique technology developments and thus gain market share. Seeking patent protection on this business’ new software will restrict market entry from other software companies looking for B2B information technology solutions market potential. The main issue with attaining a patent is the litigation risk of not performing an adequate patent clearance search to identify software in our market already holding patent protections.

The recent course case involving Apple and Samsung has set a business precedent for the high financial costs of accidentally duplicating various icons or display features in the development process. However, this business can offset these risks by assigning a patent clearance team to conduct appropriate external research to ensure development does not infringe on intellectual property protections. Patent protectionism will provide for licensing in the event that the business is unable to secure high volume of market interest post-launch.

It is more likely that this business will be able to attain venture capitalist interest in financial investment, which will offset development and patent clearance costs, by minimizing litigation risks or competitor replication of the innovation.