12.08.2022

How to make money from inventions, or the art of patenting

During the boom in research and development, more and more entrepreneurs are putting forward proposals for innovative solutions, but the commercialization of research in Poland is developing at a slower pace. As a result, outlays for product development are offered by both the state and the European Union. There are a number of nationwide and regional programs that support companies wishing to launch new or improved products. The issue of intellectual and industrial property protection and the benefit it can bring to a company then arises.

Patent protection

An innovative product can be protected at the Polish Patent Office. It is entered in the book of records kept by the Patent Office's Registry Department. Since patent protection is only valid in the country where the patent is obtained, there may be additional value in applying for protection abroad. This allows you to export an innovative product or start production outside the country. According to the European Patent Convention, an inventor can patent his product in all countries that have signed it.

Patent Plus

There are a number of programs that allow you to finance the process of getting your product under patent protection, including covering the costs of market research. An example of such a program is Patent Plus aimed at increasing the efficiency of intellectual property management through patenting. Winners of the competition receive a grant or reimbursement of the cost of a patent application. To date, there have already been 4 editions of the program. More than 210 companies, universities and research units have participated in them, while 63 have been awarded funding.

One of the requirements for receiving funding under the Patent Plus program is that a consulting firm create an analysis of the economic viability of patent coverage combined with a legal analysis of the patenting process in selected geographic markets. Its standard elements include an analysis of the PEST (political, economic, social and technological environment - more here), market background, competition, certifications required in a given country, and recommendations for product implementation. This type of study yields a range of important information on the basis of which a company can make a decision to protect and market the product. It is therefore of great importance in strategic planning.

 

Owning a patent brings a number of benefits to a company. First of all, its holder has exclusive rights to produce a particular product, which means a favorable market position in relation to competitors. In addition, information about the patent increases the prestige of the product, which is why this information is often included in a marketing campaign. The owner also has the right to grant licenses to third parties, which is an additional source of revenue. Also, in many EU projects, companies covering their products with patent protection are awarded additional points.

Ewa Rudnicka

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