Businesses are constantly innovating, but are often unaware of how to protect their intellectual property (IP). Your time and effort invested in innovative new products or processes may be at risk if protective measures are not implemented. Crowe MacKay’s Scientific Research and Experimental Development (SR&ED) and IP consultants have the experience to ensure your product is protected.
A successful product usually has at least one of the following features:
IP Protection Type & Term
Patents, 20 years
Trade Secrets, forever
Industrial Designs (Canada), 10 years
Design Patents (US), 14 years
Crowe MacKay’s team of IP Consultants work with you to protect your innovations, mitigate risks, and ensure your products produce the highest returns.
Likelihood of obtaining a valid patent
Obtaining a valid patent at the onset of a project can save a company tens of thousands of dollars and time and effort. When you secure a patent you avoid the risk of filing for an improvement that cannot be patented. To obtain a patent, you must prove novelty, inventive step and utility over all existing publications (patents, technical papers, presentations, etc.).
Determine risk of infringing value patents or trademarks
Once a business obtains a patent and commercializes their product it’s important to conduct an environmental scan of competitors or third parties who potentially are infringing on their pre-existing patents or trademarks.
Identifying barriers to product or process commercialization
It’s important for a business to assess whether their invention may infringe on an existing patent to avoid any potential lawsuits. Infringement lawsuits often cost over $1 million in legal fees, with some successful lawsuits resulting in monetary compensation to the patent holder. In some extreme cases a business may receive an injunction to cease sales and production.
Understanding how to take your innovation to the market is not always straight forward and IP protection can be costly. Crowe MacKay’s trusted advisors can create a patent strategy to ensure your business is receiving the highest returns.
When and where should you file for a patent? Should you keep your invention as a trade secret? These are questions Crowe MacKay’s IP consultants can answer and ensure your products are protected.
Intellectual Property Consulting Service Leader
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