Obtaining an Invention Patent
Making the decision to patent your new invention is an important
one. The companies we work with run the gamut of philosophy
on the issue of patents: from private software companies that
believe that their innovation is too difficult to protect
and will always be one step ahead of the game anyway, to public
manufacturing companies that have an obligation to their shareholders
to err on the conservative side, protecting their R&D
investment to the utmost possible extent. The cost, effort,
and elapsed time of obtaining an invention patent is not insignificant,
often requiring a substantial time investment from key inventors
whose time is probably considered better spent in the creative
process. However, the intellectual and sometimes tangible
rewards can balance this cost and are primarily industry-specific.
R&D funding from private angel or venture capital investors
may even be contingent on obtaining an invention patent as
a kind of “collateral” or intangible asset.
When and if you decide to go ahead with a new invention patent,
TSGI can help you through referrals to patent lawyers through
our network of professionals.
A New Invention Patent and SR&ED
While a patent can be an indicator of eligibility for SR&ED,
caution is necessary. Patents can be given for that is innovative or based on uniqueness
yet not entail the necessary requirements of technological
advance and associated technological uncertainty. Also, patents
can be applied for in widely varying time frames relative
to an actual new product development – for example, as a protective
patent to safeguard a concept. In this case, such a patent
can be a valuable signpost of the R&D process to support
an SR&ED funding application.
A New Invention Patent and IRAP
Generally, obtaining an invention patent would be encouraged
by IRAP because of IRAP’s mandate which includes the realization
of benefits from investment of public funds.
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