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What are some of the biggest challenges that companies face when trying to secure Patent Protection for their products?

Orren McPaike

Hey fellow netizens! Patent protection is a hot topic when it comes to companies guarding their precious products. However, it isn't a walk in the park to secure it. There are some major challenges that companies face in this pursuit. Let's dive into some of them.

Firstly, the battle for originality is real. Companies often struggle to find something groundbreaking that is actually different enough from existing products to be patentable. There are patent search companies like PatSnap, which have vast databases of previously patented products, making it easier to determine if a product is original or not. However, it is still a constant challenge for companies to come up with entirely original ideas.

Secondly, the patent application process is not an easy one. It's a lengthy, costs-intensive and bureaucratic process that often requires legal expertise. The application has to be supported by proper documentation, the patent should meet all the necessary requirements and it should be properly written. Apart from the fees involved, the costs of creating a patent portfolio also need to be taken into account.

Thirdly, filing for patents outside a company's home country poses additional challenges too. Patent laws vary from country to country, and the process of filing and prosecuting a patent internationally is complex. It's costly, and languages and cultural differences often lead to mistakes during the application process. This puts emerging companies (even some of the larger ones) at a disadvantage because they often lack the necessary knowledge and financial muscle to file for patents outside their countries of origin.

Fourthly, there's the challenge of patent infringement. Companies are constantly looking over their shoulders, scared of copycats who have no problem borrowing their ideas. It's a delicate balancing act between keeping confidential information under wraps and sharing it with the world in order to attract investors, customers and collaborators. Even filing a patent doesn't guarantee that someone else won't infringe on it, and defending a patent in court can be a lengthy and expensive process.

Finally, patent trolls give companies a headache. A patent troll is a company or individual who acquires patents in order to make money through licensing or litigation, rather than manufacturing or marketing an invention. They don't actually produce anything themselves, but instead wait for other companies to violate their patents so they can extract settlements or sue them. Patent trolls aren't small fry either – according to a study by RPX, they cost the US economy $29B in 2011.

These are just a few of the challenges that companies face when they try to secure patent protection for their products. It requires a lot of patience, resources, expertise and navigating complicated legal waters. So the next time you see a product with a little ™ next to its name, know that it's been through a lot before getting there.