Innovation in the IP Industry
We were honored to be recently featured on Dutch channel RTL7 with our partner MadLogic, talking all things intellectual property, innovation, and startups.
MadLogic is a Dutch mobile technology startup I met back in NYC — we immediately clicked and started working together. They wanted to expand to the US, so I helped them with their IP strategy and they helped us get established in the Netherlands for our software development.
But, you might ask, why would a patent services firm need software development?
Well, we’ve mentioned before that active trends in the startup patent market include AI, Blockchain, and FoodTech. It’s no surprise there are tons of new ideas, new startups, and also a lot of competition.
With so much competition, it’s only logical that startups increasingly seek patents to protect their ideas and block their competitors from taking over their market.
Unfortunately, though, in the legal industry in general — and in the IP protection sector in particular — we’re still stuck in the 18th century. Yes, we may have moved on from quill pens to computers, but the patent and trademark processes haven’t changed much.
On the one hand, there are some startups working to change this through AI and Machine Learning, but they’re still mostly focused on small aspects of the problem like automatic form filling.
On the other hand, entrepreneurs want to benefit from IP protection at a very early stage to capitalize on their ideas, but they’re frustrated because they can use cutting edge technology for all aspects of their business except patent protection.
I believe patents and trademarks will be revolutionized with AI and Machine Learning, which is especially important for startups that don’t have deep pockets or a lot of connections.
Intellectual property should be available to everyone. It shouldn’t be so complicated and it doesn’t have to be expensive.
The IP firms that will succeed in the future are those that innovate to deliver the best client experience for patent protection. That’s what we’re all about at KISSPatent!
See, patents are an international business — competitors are filing for patents right now all over the world and especially here in Europe.
For example, Alibaba — the Chinese tech conglomerate — has already filed for 10% of the world's blockchain patents!
As competitors from all over the world file for patents, startups have to be ready for the intense competition.
Entrepreneurs need to protect their ideas with patents because they build their businesses on their core ideas. Patents help entrepreneurs to scale fast and move fast against their competitors.
Moreover, investors like to see patents…it helps increase the valuation of the company and also helps them to quickly monetize their ideas.
One of our main focuses is in helping European companies who want to sell and market in the US, now or in the future, obtain US patents. We help our clients, like MadLogic, create an IP strategy and obtain patents and trademark protection all over the world.
More ideas and more startups mean more patents. I’m also expecting to see consolidation. Large IP firms will either dissolve or merge together as our clients continue to challenge them on costs.
Here is a short clip from our feature in RTL7:
Remember, if you need patent protection or wish to include intellectual property in your overall business strategy, don’t hesitate to contact us. We’re here to help you regardless of what stage you’re in.
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