5 Ways to Increase Patent Filings in an Organization
With the advancement in technology, organizations are gradually realizing the importance of patent filing. Patents not only secure an invention but also pave way for businesses to gain a competitive edge and enhance profits. This article talks about five distinctive ways in which an organization can file more patents.
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Patent Filing and its Importance
Organizations that are involved in meticulous research and development processes need to extensively file patents for their innovations to prevent a competitor from fabricating similar products or processes. Patents protect the unique business interests of an organization and hold competitors or duplicators legally accountable. More importantly, an organization with more patents has a greater probability of making profits by licensing or selling their patented inventions or registered designs to the interested parties.
Here are the five crucial ways in which organizations can file more patents to make a decent profit.
1. Increase Patent Awareness in Organisations
Organisations can successfully file more patents by developing a level of awareness and education regarding patents and other IP assets. Most of the employees working in an organisation lack awareness about IP. Though they might be working in a research and development department, they still might be unaware about the importance of protecting their invention through IP. This can lead to a lot of problems for the organisation in the future. The organizations should conduct sessions to make their employees informed about IP so that whenever they develop a new product or process, they might make sure that they get it protected through suitable form of IP. Similarly, making the employees aware about IP will also motivate them to create more inventions. This can help a large or medium-sized organisation to file more number of successful patents.
2. Encourage Innovation of Employees
Apart from conducting IP awareness sessions, organisations can set up systems of monetary as well as non-monetary rewards for employees who work on and develop economically viable patents for the organisation. Initiating an in-house patent program can prove highly beneficial for an organisation that seeks to motivate their employees to develop more patents. Such a program should have systems of incentives, rewards, and recognition as they can go a long way in keeping innovative employees motivated so that the organisation is able to consistently file novelty patents in design, utility, or plant.
3. Make Organisational resources more Accessible
Increasing employees’ access to organisational resources for the purpose of experimenting and producing innovative inventions, can significantly boost the number of patents and other IP being filed by that particular organisation. In technology-driven organisations, patents are usually focused around inventing new utilities or processes and when employees have some extent of free access to organisational resources, they can work on revolutionary innovations that can help the organisation to file more patents.
4. The Role of Effective Talent Acquisition
The role of talent acquisition and talent management in organizations often gets overlooked when it comes to filing more patents. It requires harbouring high levels of creativity and innovation among workers in an organization to increase the number of patents. According to research, companies such as IBM, Samsung, and Microsoft, file the maximum number of patents with the help of extremely talented human resource that engineered innovative solutions to remove organizational obstacles. In this regard, building an employer brand is significant as it allows meritorious and talented candidates to file for more proprietary processes and patented technologies.
5. Competitive Research and Analysis
Aiding the growth of innovations, competitive research and analysis is one of the easiest ways for organizations to file more patents. Companies need to constantly gauge their surrounding competition and if possible, acquire in-depth information about their inner workings to gain a competitive edge and file patents sooner. The process confers certain licensing benefits upon the company by making it the sole proprietor of the patented technologies.
Advancement in technology has opened doors to explore emerging sectors and identify patent opportunities. By following the above-mentioned unique ways, big organizations or even startups can file for more patents, corresponding to innovative inventions, designs, or processes.
Sagacious IP assists organizations in entrepreneurial endeavours such as patent filing, enabling them to get the most out of their IP budgets. Our team of highly skilled professionals ensures well-structured documentation of IP applications according to the guidelines of the respective patent office.
-The Editorial Team