You have a patent? Excellent, your invention is protected, and you have control over who can replicate your innovation. But did you know that patents are also essential for sharing knowledge and fostering an open culture of innovation? It's crucial to balance both aspects of a patent, ensuring that the inventor is protected while the patent serves as a connector for knowledge sharing and innovation for the benefit of all.
HTHE PATENT SYSTEM FOR SMALLER XR INNOVATORS
In a world where competition is often fierce and innovations evolve rapidly, patents play a crucial role. However, smaller innovators often view the patent system with suspicion. There are numerous stories about patents that actually hinder innovation. Protectionism could lead to smaller players in technology domains like Extended Reality (XR) being hampered by adjacent sectors in developing innovative technologies.
But while protectionism is an essential aspect of the patent system, it's only half the story. The system is equally focused on knowledge sharing. In fact, a patent functions as an enabler of knowledge sharing and innovation, benefiting start-ups and society as a whole.
TECHNICAL AND BUSINESS INFORMATION
The patent system is thus a catalyst for knowledge sharing, and this extends beyond just technical knowledge. For instance, you can find all the information about patents applied for and granted by the European Patent Office (EPO) for free at https://worldwide.espacenet.com. This database is a valuable source of technical knowledge—how do other companies solve problems in the XR domain?—and of business information: what strategies are your competitors using?
YOUR PATENT DESCRIBES AND PROTECTS
When a patent is granted for your invention, you receive protection. This means that the rest of society loses something, as an invention is removed from the public domain. To restore this balance, the patent system is designed to return the knowledge associated with the invention to society.
This means a patent does two things: it describes and it protects. A patent is, first and foremost, a description of a solution to a technical problem. And that description must be detailed enough for others to replicate the invention.
Secondly, a patent offers protection and control. You describe your invention, and the patent ensures that you have control over who can use the knowledge and who can reproduce your inventions.
1+1=3: THE POTENTIAL OF A PATENT
Both features of a patent are inextricably linked. And this creates opportunities for the patent holder and other players.
If you are the owner of a patent, it not only strengthens your position with potential investors but also allows you to generate revenue by licensing your invention to other companies. On the other hand, a competitor's patent may enable you to develop your own innovative alternative.
Moreover, patents facilitate conversations between different parties. Without protection, you might choose to keep your invention a secret. But with the protection of a patent, you can confidently engage in discussions with other, competing companies.
This is exemplified by standardization committees that facilitate the development of standards, such as video encoding, by individual companies. In these committees, various members share their patented technology. The return on investment (ROI) for the companies is then calculated based on the contribution of these technologies to the standard.
This is a prime example of the patent system in action, demonstrating that it serves as a catalyst for innovation and knowledge sharing rather than merely a tool for protectionism and obstruction.
