Business patents report Essay Example | Topics and Well Written Essays - 250 words

Business patents report - Essay Example Following suit, other companies in the software segment are beginning to analyze their innovative intellectual properties for opportunities to exploit their unique technology developments and thus gain market share. Seeking patent protection on this business’ new software will restrict market entry from other software companies looking for B2B information technology solutions market potential. The main issue with attaining a patent is the litigation risk of not performing an adequate patent clearance search to identify software in our market already holding patent protections. The recent course case involving Apple and Samsung has set a business precedent for the high financial costs of accidentally duplicating various icons or display features in the development process. However, this business can offset these risks by assigning a patent clearance team to conduct appropriate external research to ensure development does not infringe on intellectual property protections. Patent protectionism will provide for licensing in the event that the business is unable to secure high volume of market interest post-launch. It is more likely that this business will be able to attain venture capitalist interest in financial investment, which will offset development and patent clearance costs, by minimizing litigation risks or competitor replication of the