Patents are legal instruments that can be highly coveted and valuable business assets. Unfortunately, the conventional patent process has become highly inefficient, resulting in low quality patents being filed and significant money being lost by the applicant. And while a record number of patents are being issued – over a quarter million were issued last year – many of those patents will not generate a dime of revenue.
There is, however, a better way for patent counsel and key decision makers to approach every patent that is pursued. The 7 Step Strategic Patent Assessment takes a quantum leap forward to renovate and sharpen the patent process. In this CLE course, patent attorney and former design engineer Craige Thompson teaches you a different way to look at the patent application process to maximize value for your clients. Craige provides a case example of a patent prosecution using a hypothetical invention and primarily addresses the lifetime costs & the value potential of patents, a typical patent prosecution, the patent decision problem, the 7 step strategic patent assessment and 4 new ways to win. Additional topics that Craige discusses include the benefits of this new process, focusing on the point of novelty, “everything you say will be used against you,” minimizing the number of office actions, the 4 core mistakes, the lifetime of a patent, conventional prosecution value, what investors want, benefits to the decision makers, the goldilocks investment rules, how the 7 Step SPA pays or itself and solving the 4 core mistakes.
A professional design engineer and accomplished patent attorney, Craige Thompson is president of Thompson Patent Law Offices, PC in Minneapolis, Minnesota, as well as Austin, Texas. Craige has substantial experience in patent licensing, prior art searching, due diligence, prosecution, opinion, reexamination, and litigation. He has handled cases that involve complex technologies that range from electrical engineering to mechanical engineering, software, and medical devices. Craige has enjoyed particular success in protecting and licensing clients’ complex green technologies that radically improve energy efficiency. He is admitted to the bar in the states of Wisconsin, Minnesota, and the U.S. District Courts for the Western District of Wisconsin and the District of Minnesota and is registered to practice before the United States Patent and Trademark Office.