UPGRADE YOUR PATENTING PROCESS

A benchmaking study involving 21 companies in chemicals- and high-tech -related industries reveals that much greater attention is now being p aid to intellectual property assets. Teeth have been given to the U.S. patents process, and this has led to more consistent handling of pate nts and move severe punishment for infringement. Consequently, compani es are now including intellectual property issues into their strategy, even as part of their stage-gate product development processes. Paten t intermediaries, who patrol the interface between the triangle of res earchers, business and attorneys, are important contributors to the ov erall process. Using outside counsel for patent preparation is common but diminishing. A favored practice is to hire back retired former emp loyees to help in busy times. As patenting becomes more widely accepte d as a process, it is more effective when parent attorneys charge back for their time and track where their time is spent. This leads to bet ter management of the process. If also meets the requirement that busi nesses pay only for services they use.