TY - JOUR T1 - Patent Value: A Business Perspective for Technology Startups JF - Technology Innovation Management Review Y1 - 2011 A1 - Angela de Wilton KW - business value KW - intellectual property KW - patenting costs KW - patents KW - strategy AB - In the last year, news headlines have highlighted record patent infringement settlements, multibillion dollar auctions of large corporate patent portfolios, and ongoing patent battles between key technology industry players. Despite this acknowledgment of the significant value of patents for large corporations, many small technology companies are understandably more focused on the near-term costs of obtaining a patent rather than future value. Costs may seem prohibitive to an early stage technology startup. Some software startups question whether patents are relevant to their business. In practice, effective intellectual property (IP) strategy and management is dependent on many factors, such as technology or industry sector, size and maturity of the business, technology lifecycle, and the business and market environment. IP strategy must be aligned to business strategy from the outset. By considering IP in the broader context of the overall business plan and the competitive environment, opportunities for generating increased return on R&D investment and added business value through patents or other forms of IP can be recognized early on. This approach ensures that a decision about whether or not to patent is driven by business reasons rather than budget constraints. This article examines the costs and benefits of patents from the perspective of early-stage technology startups and growing businesses, and it provides some general guidance on best practices for developing an IP and patent activity plan and for building a patent portfolio that appropriately supports business objectives. PB - Talent First Network CY - Ottawa VL - 1 UR - http://timreview.ca/article/501 IS - 3 U1 - de Wilton IP Inc. Angela de Wilton holds a BSc Honours (Chemical Physics) from the University of Bristol, England, and a PhD from Carleton University in Ottawa, Canada. She is registered as a Patent Agent by the United States Patent and Trademark Office and the Canadian Intellectual Property Office, is a Fellow of the Intellectual Property Institute of Canada, and is a member of the American Intellectual Property Law Association and the Licensing Executives Society. Angela is a founder of de Wilton IP Inc., which assists small to medium-sized technology companies in developing an IP strategy and building and managing a cost-effective patent portfolio. Angela draws on past experience in the Nortel IP Law department, where she developed IP Strategy, and as Director of Intellectual Property, where she was responsible for a global patent program and supported patent licensing and litigation programs. Angela has also been involved in patent agent training and management development programs, and she has prior postdoctoral industrial R&D experience. ER -