Invention is neither a unique occurrence, nor is it the destination. Success with your invention in the marketplace is a journey. With that in mind, you really need to think about constructing a portfolio of patents rather than just having a single patent, at least if the invention you protect is commercially feasible.<\/p>\n\n\n\n
Every year, NuCurrent Inc.<\/a>, a Chicago-based manufacturer of wireless charging devices, earns millions in patent licensing, from the likes of Apple<\/a> and Motorola<\/a>.<\/p>\n\n\n\n NuCurrent is not alone. Multiple firms generate millions \u2013 and sometimes even billions \u2013 of dollars simply in income from licensing.<\/p>\n\n\n\n Many businesses acknowledge that a well-crafted portfolio of patents can be used to achieve a multitude of company goals, such as strengthening market position, protecting research and development initiatives, generating income, and promoting favorable cross-licensing or settlement contracts.<\/p>\n\n\n\n Patent portfolios, packed with patents of high value, not only open a fresh income stream, but also help organisations emerge as market leaders. A patent acts a barrier against the entry of a competitor into valued innovations or key markets. However, a start-up must first create a patent portfolio strategy and allign with the business goals of the company in order to create an efficient patent portfolio.<\/p>\n\n\n\n Table of Contents<\/p>\n