At the start of any entrepreneurial project, the business plan defines your priorities, your ambitions, and the strategies to be adopted for the development of your company. Choosing patent protection is an excellent investment, and its cost and benefits should be an integral part of your business plan. Also known as a business plan, development plan or activity plan.
What is a patent?
A patent is an industrial property right that enables its holder to protect an invention. Following a patent application and examination procedure, a patent is granted for a period of 20 years. It grants a monopoly in the country where the patent is granted. The European patent, on the other hand, grants protection in all signatory countries of the European Patent Convention.
Choose the coverage that’s right for your business project. For commercial development in France only, a French patent may be sufficient. However, if you wish to exploit your patent abroad, your French patent will not protect you. The PCT makes it easier to apply for a patent abroad.
Even if trademark protection is a different procedure, it’s a good idea to think about defending your identity. In this way, you limit counterfeiting, and the confusion your competitors can play with. Above all, titles enable you to plead your interests and assert your rights!
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The business plan: integrating the patent into your strategy
The business plan is a document in which you set out your company’s development strategy.
Notes of intent, brand positioning, financing plans and business models are among the elements always mentioned.
Including plans to register a patent in a business plan is much more than an administrative formality. In fact, exclusivity on the industrial exploitation of an invention is a major asset, helping to secure R&D investments. You’ll be able to communicate on a unique, innovative product, attracting the attention of your customers and building loyalty for the duration of the patent’s validity.
It’s also an interesting financial tactic. The patent has real value. It becomes part of your company’s assets, enhancing its value on the market and with investors. A company with a patent is more likely to obtain bank loans and raise capital.
Anticipate the cost of registering your patent
Part of the business plan is to define the costs of maintaining the company, and all the investments that will make it grow. The procedure for filing a patent requires you to pay an IP consultancy fee and fees to the INPI.
See the full infographic here – CPI pricing at the firm Touroude & Associates for its online patent filing solution. The amounts shown for INPI fees, for the filing procedure, drafting, examination and granting, are those charged to companies with fewer than 1,000 employees, who benefit from a reduced rate.
From the date of filing of your patent application, there is absolutely no guarantee that you will obtain protection for the invention for which you are filing. In fact, your application may be rejected, or even opposed.
In order to guarantee compliance with all examination criteria, and to ensure the success of your patent application procedure, the services of an industrial property attorney are virtually indispensable. The IP attorney’s fees should therefore be included in your business plan.
Filing a patent with YesMyPatent and its IP consultants enables you to partially offset these expenses. Our fees are approved by the French Research Tax Credit (Crédit Impôt Recherche) and Innovation Tax Credit (Crédit Impôt Innovation). This allows you to recover up to 30% of the invoice. If you’re a JEI (Young Innovative Company), you’ll benefit from similar assistance.
The value of a patent, and the benefits it brings to your project, make it an excellent investment. By protecting your innovation, you decide how it will be exploited, either by yourself or by a third party throughlicensing in exchange for financial compensation.
Patent registration and business development planning
The criteria for granting a patent, as well as the regulations governing the protection of industrial property, demand that great attention be paid to the deadlines chosen. For example, an invention that has already been commercialized is no longer patentable. This means you won’t be able to obtain a patent if you haven’t filed your application beforehand.
If you’d like to expand your business internationally, you should know that filing a patent in France withINPI gives you a “priority right”. You have 12 months from the date of filing to extend protection abroad.
