What is a patent?
A patent is a form of Intellectual property (IP) for protecting an “invention”. An invention can be a new product, device, apparatus, process, method, system, etc, and sometimes a combination of these.
An Australian patent gives the owner of the patent (“patentee”), the exclusive right in Australia to commercially exploit the invention (i.e. to make it, hire it, sell it, use it, import it, etc.). A patent can give the patentee the right to stop somebody else from infringing the patent, and the patentee may be able to claim monetary compensation from that person or company for infringement that has occurred.
The invention is described in a document which accompanies the patent, and which is known as a patent specification. A patent specification is a technical document as it describes the technical features of the invention. It is also a legal document as it must satisfy various legal requirements. The actual invention is defined in the specification by special, numbered paragraphs called “claims”. Claims are usually complex and involve highly legalistic language. Proper drafting of patent claims is critical to achieving solid and effective protection of the invention, and involves a high degree of training, skill, experience, and attention to detail. Preparing patent specifications, including the claims, is one of the core aspects of a patent attorney’s work.
What is the benefit of a patent?
A patent can be an extremely valuable commercial asset for giving a person or business a significant advantage over competitors. For example, a patent can be used to prevent others from making, using, selling or importing the invention.
Often, an invention is the result of much skill, research, ingenuity, imagination, and/or investment in time and money. If other people could freely copy your invention, they could take advantage of all your valuable input while minimising their own investment. This could give them a commercial advantage over you. But a patent can prevent them from doing this.
A patent can also provide a very effective strategic advantage over competitors. For example, it could serve as an effective deterrent against copying of the invention by other people. It could also provide an effective “balance of power” against a competitor that has its own patent protection. A patent is an asset, and can be assigned (transferred) or licensed to others.
For many businesses, their patent or patents are critical to their ability to continue operating and to compete. Indeed, many businesses are built largely around their patent protection.
Patent owners often obtain patent protection for their inventions in a number of different countries around the world.
Having effective patent protection or a portfolio of protection can often mean the difference between a business being successful or not.
Is it worth it to apply?
The question of whether to apply for a patent is usually a commercial decision. The expected cost of the patenting process (i.e. applying for, and obtaining, a patent) and the cost of marketing the invention, should be weighed against the expected profits or commercial benefit that can be derived from the invention or patent.
An important factor is managing the costs, to try to spend the smallest amount possible for the biggest potential gain. At Ascot MartinTM, we try to tip the balance in favour of our clients by having a very competitive cost structure, and advising our clients how they can keep their costs to a minimum at any one time.
Why is it advantageous using our firm?
Who are we?
Ascot MartinTM is a small, boutique patent attorney firm. We fully appreciate that a patent is supposed to benefit a business and assist it to maximise profit. Therefore, we strive to give our clients the best combination of (1) Quality Work, (2) Attractive Pricing, and (3) Personal, Tailored Service.
Why Choose Us?
At many larger patent attorney firms, the work may be done by a junior, or trainee attorney, under supervision of an experienced practitioner, with the time spent by both of them being factored into their “big-firm” prices. By contrast, at Ascot MartinTM, the person who meets with our clients and discusses their inventions with them is an attorney with 20 years experience in the business, plus years of real-life engineering experience, and is the same person who will actually do the work.
This can avoid a situation where subtle aspects and features of the invention can be “lost in translation” as a result of information having to be communicated between various different people.
Our Cost Structure, Experience, Efficiency and Quality
At Ascot MartinTM, we believe in giving our clients maximum “bang for their buck”. Our cost structure is designed to be as beneficial as practicable. We achieve this by minimising our overheads and passing the savings on to our clients, and achieving high efficiency due to our work processes and custom designed case-management system. We also endeavour to keep our costs extremely attractive when it really counts, such as when filing a new patent application.
But saving cost does not mean losing out in terms of quality and experience. On the contrary, our Principal attorney has vast experience over two decades in preparing and prosecuting patent applications across a broad spectrum of technologies. These include, but are not limited to, engineering, mechanical devices, construction, mining, packaging, transport, telecommunications, business methods, production processes, heating and refrigeration, medical devices, nano-technology, automotive industry, clean energy, security, gaming systems and machines, and many others.
This means that our clients can expect high quality, effective patent protection.
Talk to us Today for all your IP Protection Needs
Apart from providing quality work and competitive pricing, being a smaller practice we are very approachable and offer a high level of attention to our clients, with a tailored, personalised service to suit their needs.
Contact us today to arrange an initial free, confidential discussion about your IP protection requirements (Click here).