Let's say you or someone who works for you invents a new product or develops a new process that is new to your industry. You know that you will need to patent it in your home country, but after that, should you think about filing patents in other countries as well? In many cases, the answer to this question is yes, but there is an issue here.
As pointed out in the ipHandbook of Best Practices, there are more than 200 separate countries with different patent rights. The financial obligation of filing applications to each and every one of these countries is significant on its own. Therefore, you may have to pick and choose which countries you submit patent applications to. Here are several questions you should ask to help in your decision-making:
1. Is There a Market for your Product in the Country? If the numbers aren't very significant or there isn't much in the way of potential, it might not be worth it to file the patent application in a particular country. What that number is will depend on the industry, but according to the ipHandbook of Best Practices, the benchmark for many companies is $5 million per year in revenue.
2. Can You Identify any Emerging Markets? If the market isn't there yet in a particular area, is there potential for growth in the near future. If so, a patent submitted now may be worth the investment.
3. How Do You Want to File Your Patent Applications? A few countries only accept direct national filing under the provisions of the Paris Convention. PCT national phase entry is available in 148 countries. How you choose to file will depend on a number of factors, so this will need to be considered.
4. How Long Will Your Patent Remain Relevant? Some countries have a longer patent application process than others. If your technology has a limited shelf life, it might not be worth it in some countries.
5. Is Quality or Quantity More Important? Would it be more important to have several well-protected patents or many narrower patents? This will depend on your budget and the invention.
As pointed out in the ipHandbook of Best Practices, there are more than 200 separate countries with different patent rights. The financial obligation of filing applications to each and every one of these countries is significant on its own. Therefore, you may have to pick and choose which countries you submit patent applications to. Here are several questions you should ask to help in your decision-making:
1. Is There a Market for your Product in the Country? If the numbers aren't very significant or there isn't much in the way of potential, it might not be worth it to file the patent application in a particular country. What that number is will depend on the industry, but according to the ipHandbook of Best Practices, the benchmark for many companies is $5 million per year in revenue.
2. Can You Identify any Emerging Markets? If the market isn't there yet in a particular area, is there potential for growth in the near future. If so, a patent submitted now may be worth the investment.
3. How Do You Want to File Your Patent Applications? A few countries only accept direct national filing under the provisions of the Paris Convention. PCT national phase entry is available in 148 countries. How you choose to file will depend on a number of factors, so this will need to be considered.
4. How Long Will Your Patent Remain Relevant? Some countries have a longer patent application process than others. If your technology has a limited shelf life, it might not be worth it in some countries.
5. Is Quality or Quantity More Important? Would it be more important to have several well-protected patents or many narrower patents? This will depend on your budget and the invention.