20: Patent Masterclass for Healthcare Entrepreneurs & Innovators


Manage episode 267448137 series 1946974
بواسطة Dr Vinay Shankar، اكتشفه Player FM ومجتمعنا ـ حقوق الطبع والنشر مملوكة للناشر وليس لـPlayer FM، والصوت يبث مباشرة من خوادمه. اضغط زر الاشتراك لمتابعة التحديثات في Player FM، أو ألصق رابط التغذية الراجعة في أي تطبيق بودكاست آخر.
On this special masterclass episode, we are joined by Phil, a patent attorney with a company called EIP. It’s a longer than usual episode but it covers the essentials in regards to patents. Phil gives us a concise but thorough description of patents, the process for being granted a patent, and some useful guidelines and tips for healthcare entrepreneurs and innovators.

What you will learn in this episode:

– Patent defined
– What can be patented?
– When is the ideal time to patent?
– Patent process
– Costs associated with patenting
– Advice for those considering submitting a patent application

– Patent defined
• A patent is an exclusive right to stop others from exploiting your invention.
• An invention is a technical solution to a technical problem; of an industrial nature including functionality, construction, process, or chemicals.

– What can be patented?
• Any invention with an industrial application, which can include the technical aspects of software.

– When is the ideal time to patent?
• It is never too early to submit a patent application, but it can be too late.
• You must consider strategic factors including the stage of development, the availability of funding, the availability of resources from suppliers, and the willingness of distributors to carry the product.

– Patent process
• Secure a patent attorney to draft the patent application – It is often to challenging to do yourself.
• File a priority application through your patent office.
• After a 12 month waiting period, you can then request a search and preliminary opinion to determine if the invention is protectable and then submit a priority claiming application which can include additional information.
• After approximately 12 more months, you can submit international applications in the countries where you would like for the patent to be granted, after which the agencies will conduct a thorough investigation of your invention’s viability for patenting.
• Next, your patent will be examined and you can submit arguments and amendments until your patent meets requirements.
• Finally, you will be subject to various fees after which your patent will be granted.

– Costs associated with patenting
• You will encounter costs at each stage of the patenting process, ranging from £4,000-£15,000, you also need to account for the renewal and maintenance fees that you will incur during the 20 year patent.

– Advice for those considering submitting a patent application
• Consider keeping your idea secret until it is protected; be cautious using crowdfunding sites to raise funds if you disclose too much information.
• Choose your patent attorney and business advisors carefully, and have them sign Non-Disclosure Agreements.
• Determine who actually owns the patented material; this could save you from trouble down the road.
• Before you begin this lengthy and expensive process, consider whether applying for a Registered Design or a Trademark could better meet your needs instead.

Key Quotes and Links:

“The patent gives technical protection to the person who has filed the patent.”

“It is important to work out how far along in your development you are and make a strategic choice about when to file your patent application.”

“What’s termed ‘state of the art’ is everything that is available at the date that the patent application was made.”


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