- The article argues entrepreneurs should only invest in patents engineered to produce over 100 times ROI, based on lessons drawn from reviewing thousands of patents over 20 years.
- The framework starts with 3 key patent questions designed to pin down the Point of Novelty, a single-sentence articulation of what is actually new and patentable.
- Once the Point of Novelty is clear, 4 key business questions assess whether it aligns with a Commercially Valuable Chokepoint, meaning it protects something customers genuinely want and that competitors can’t easily design around.
- All 7 questions together (3 patent, 4 business) are described as the minimum needed to start what the firm calls a litigation quality patent.
- The firm states it will actively advise a client not to pursue a patent if any of the 7 questions don’t align for that particular invention or business, even though patents and trademarks are its core business.
We believe entrepreneurs should only invest in patents that are engineered to produce over 100 times ROI. Having reviewed many thousands of patents over the last 20 years, what we found is that the best way to engineer that kind of ROI is to start every patent by answering the 3 key patent questions and 4 key business questions about those patent questions.
And if you have positive answers to all 7 questions, then you have all you need to start what we call a litigation quality patent.
The 3 key patent questions are designed to give you a clear answer to the question what, if anything, can I get a patent on? This is what we call your point of novelty. And until your patent attorney can give you a clear answer and articulate your point of novelty in a single sentence, they are simply not prepared to write a litigation quality patent.
Now, once you’ve articulated your point of novelty in a single sentence, you’re ready to ask the 4 key business questions. Those questions are all about determining to what extent your point of novelty aligns with a commercially valuable chokepoint. What that means is that your point of novelty is something would protect something that your customers really want to buy, has those features that are very valuable to your customers, and your patented point of novelty blocks a commercially valuable chokepoint, and creates a chokepoint that is difficult for your competitors to design around so they can’t easily avoid your patent. To the extent your point of novelty aligns with that commercially viable chokepoint, those are the most valuable, high-value patents that you can get.
Now don’t shoot the messenger here, but if we don’t find that all 7 questions
aligned for you, if we determine that one of the 7 hurdles, as we call them, doesn’t make sense for your particular invention or your business, we will actually talk you out of getting a patent, even though patents and trademarks are all we have to sell.
If you have an innovative technology that you’re trying to decide whether or not you should protect with a patent, please remember to do all 7 questions before you launch your patent process. I wrote a #1 best-selling book that outlines the 7 steps. So if you’d like to speak with us about your particular situation, just call to schedule your patent needs assessment. It’s complimentary, and we can help get you started.
