IP Bootcamp for Entrepreneurs
Navigating Patents: Strategy & Protection
If you’re a budding entrepreneur or startup founder, you’ve probably been conditioned to be intimidated by patents thanks to countless headlines like: 10 Reasons Your Startup Needs Patents Now. Why Filing a Patent Just Got Way More Complicated. How Patent and IP Mistakes Could Destroy Your Startup.
There’s no doubt that intellectual property can be tricky to navigate for businesses of all sizes. But instead of getting intimidated, the key to success is getting informed.
That’s why the Nasdaq Entrepreneurial Center has teamed up with leading law firm Wilson Sonsini Goodrich & Rosati and Thomson Reuters to offer an IP bootcamp: Navigating Patents: Strategy & Protection on Thursday, August 18th. The workshop will feature a session and office hours with startup attorney Peter Eng from WSGR, followed by a session on R&D with Thomson Reuters IP specialist Thomas Lunde, who will set up 15 attendees with free access to the Derwent World Patents Index — the world’s most trusted source of patent information.
Fifteen entrepreneurs are getting unprecedented free access to the World Patents Index …
… Find out why that’s a big deal and how you can be one of the lucky fifteen
What exactly is the Derwent World Patents Index?
Put simply, the Derwent World Patents Index (DWPI) is a system for describing patents. It’s an English-language database of all patent records — including applications and grants — that covers patent documents from more than 50 countries. The DWPI is now owned and compiled by Thomson Reuters and available on the Thomson Innovation platform, where an editorial staff of over 900 read through complex patent documents and rewrite them using terms that an average interested reader can understand.
“Derwent data is used by more than 40 patent offices worldwide,” says Thomas Lunde, Solutions Consultant and IP Specialist at Thomson Reuters.
This is thanks in part to the jargon-free writing style, which clearly states the “novelty, use, and advantage of an invention.” This makes searching for specific patent information faster and more accurate not only for Patent Examiners, but also for applicants. Lunde adds that: Exploring patents in the DWPI before filing your own application can “level the playing field so that after your hard work, a Patent Office doesn’t come back and say: “Sorry, someone else has done that.’”
How will having access to the DWPI help me?
- Identifying new opportunities
“If you’re thinking about launching a new product, you can conduct a freedom-to-operate search using the DWPI,” says Lunde. “This is cheaper than launching and then getting a letter claiming that you’re infringing on a patent. Derwent data helps you get to know the space and what’s open — where there’s white space. From a less scary perspective, this could even mean finding potential business ideas or partners.”
2. Finding a path in a crowded IP landscape
“There are over 9 million U.S. patents since we started counting. After a couple hundred years, that might not sound like a lot. But the rate is increasing. It was 7 million patents in February 2006, 8 million in August 2011, and 9 million as of April 2016,” says Lunde.
He adds: “Because the landscape is exceedingly crowded, it’s more important than ever to stake a claim. Businesses are getting smarter about IP, so you’re more apt to get flagged for infringement now. If you’re an entrepreneur looking for investment, show that you did a freedom to operate search and you’re more likely to get investors’ attention.”
3. Knowledge and insight from past innovations
As Lunde noted earlier, one of the most valuable benefits of the DWPI is exploring past innovations and searching for the openings and white spaces where new opportunities might lie.
But searching through old patents isn’t always simple. “IBM invented the hard drive, but if you do a search on your own, you would probably miss important patents,” says Lunde “because dozens of their original patents talk about ‘Winchester’ drives, instead of the terms you’d expect.” Derwent data can help cut through outdated or internal jargon to help you find what you’re looking for.
Why is this a big deal?
The DWPI’s clients are typically Fortune 500 companies and law firms. Individuals generally don’t have access — until now. Thomson Innovation is setting up 15 entrepreneurs, who attend the workshop and complete the DWPI training, with 90 days to 6 months of access to the database.
“This seminar is a unique opportunity to get access and see what’s out there. If you’re just starting out or if you’re in a place where you can pivot, it’s a chance to explore exciting options in your space,” says Lunde.
Why is Thomson Innovation doing this?
“Our Intellectual Property & Science division prides itself on helping to accelerate global innovation. There’s so much innovation happening in the Bay area — innovation that’s changing the way we live, work, and solve some of the world’s most challenging problems,” says Melissa Boatwright, Chief of Staff for Technology at Thomson Reuters.
“Providing entrepreneurs with access to Thomson Innovation will allow them to bring their ideas to life faster, with more confidence that their ideas are novel and protectable, and accelerate the pace of innovation that benefits all of us.”
How do I get in on this?
Navigating Patents: Strategy & Protection
Thursday, August 18th @9:30am
Nasdaq Entrepreneurial Center
505 Howard St., San Francisco
The event is free but space is limited.
