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Episode 3: Why Should Companies Pursue Patent Protection? To Stay Ahead of the Competition!
It may sound like an obvious question, or perhaps not. But the real reason that companies get patents is to stay ahead of their competition. That’s one thing that became abundantly clear to me when I moved from a national IP firm to in-house patent counsel at Amway. While managing a portfolio of over 1200 patents and applications globally in wireless charging, I gained that perspective, watching our competitors advance their own patent portfolios. I’ve “crossed over and back again” in private practice at Remenick PLLC in Washington, DC. I use that experience to help my clients because I’ve been in their shoes.
Mr. Lesperance discussed:
- Why staying ahead of the competition is so important.
- Monitoring your competitors and adjusting your patent strategy accordingly.
- The value of building relationships with inventors and internal business units.
- The dangers of not pursuing patents – being fenced in by your competitors.
- Re-evaluating patent strategy to cut losses and refocus on the future.
- The importance of knowing the company’s short-term and long-term plans.
