Innovation in sectors of strategic importance to the economy is vital to recovery from the crisis. But we still need to define what a strategic sector is. This was the question posed by the Marianne newspaper in its article ” Coronavirus: the health crisis highlights France’s strategic failure “. The new coronavirus crisis is forcing us to rethink the way we work and consume. But it shouldn’t call into question your desire to innovate – quite the contrary! Because it’s important to keep innovating, even in times of crisis, here are a few tips.
Staying alert and optimizing the costs of your industrial property strategy
The economy is slowing down. Maybe your business is too. So take the opportunity to think about your next innovation and how you can implement it. It’s often forgotten, but when it comes to industrial property, you can save money by making the right strategic choices. And without neglecting the protection of your innovations.
Set up a competitive intelligence system
Take a look at what your competitors are doing in terms of innovation. Are you as innovative as you thought? Use Google Patents or Espacenet to list your competitors’ innovations. Identify the areas they’re neglecting. This is your chance to stand out in your market!
Doing your own competitive intelligence will only cost you time. And right now, most of us have plenty of it! Now’s the time to invest in your future growth.
Take stock of your innovations
Is there anything that sets you apart from your competitors? Are you using a process that’s not yet on the market, and about which you haven’t communicated? Now’s the time to think about it in more detail. If your process is not yet protected (by you or anyone else), why not patent it? A patentability study and a freedom-to-operate studywill enable you to take stock quickly.
Check that your invention is patent-eligible
With our free questionnaire available on our ” Protect my invention ” page, you can find out in just a few minutes whether your innovation is eligible for a patent, a utility certificate… This will help you avoid filing a patent application that is sure to be rejected.
Call in a CPI
When you call on an Industrial Property Attorney to protect your innovation, you save time… and more! His technical skills, experience and knowledge of industrial property law ensure that your patent is drafted according to the rules. Above all, a patent protects not only your invention, but also your interests… Put all the chances on your side to ensure that your patent is granted in the best possible conditions.
3 reasons to hire a patent attorney :
- A strategic vision of how to protect your innovation
- Technical and legal expertise for a patent that fully protects you
- The IPC can represent you at the INPI, and at the EPO if it is the European representative for administrative procedures.
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Budget your industrial property needs to avoid unpleasant surprises
Despite the crisis affecting many companies, it makes sense to continue investing in innovation. Your competitors won’t be waiting for you! Innovation is progress, and a patent is also a long-term investment. It becomes part of the company’s assets, and can, among other things, be valorized through licensing.
Read more: Patents as a way of making R&D expenditure profitable
Ask for a fixed price if you use a CPI
When you call on the services of an industrial property attorney, you can ask for a fixed price for the various stages of the filing and procedure up to the issue of the industrial property title. This way, you know what budget you need, and avoid unpleasant surprises!
Check if you can benefit from -50% on INPI fees
INPI offers two rates for patent fees: a standard rate and a reduced rate. For the standard rate, count €546 for your patent application and search report, and €90 for the grant of your patent. If you qualify for the reduced rate, for small entities (self-employed, companies with fewer than 1,000 employees), everything is 50% off! Count €273 for your patent application and search report, and €45 for the granting of your patent.
Don’t forget the maintenance annuities in your budget!
Once your patent has been granted, you have to pay annual fees for 20 years to continue protecting your innovation. The cost of these annuities is increasingly high, to encourage patent holders to exploit their innovations. So it’s important to regularly clean out your patent portfolio and abandon those that are obsolete or no longer of use to you. This is particularly true in times of crisis, in order to conserve financial resources for new innovations. Depending on the nature of your invention, and your strategy, a utility certificate or provisional patent may also be an opportunity to seize. Protection is shorter than for a patent, and less costly.
Get help to maintain your R&D
In times of crisis, we tell ourselves that now is not the time to innovate, that it costs money. But innovation can be very profitable! The coronavirus crisis may last several months. But utility certificates and patents will protect your innovations for much longer! To make it easier to access them, innovation grants are still available.
CIR: Research Tax Credit
The CIR allows you to recover 30% of your R&D expenditure. It also applies to your expenses throughout the life of your patent:
- On the filing phase (filing fees and CPI fees)
- On the maintenance phase (annuities and insurance costs)
- On the defense phase (defense costs, in particular legal or consulting fees)
- On the acquisition phase.
CII: Innovation Tax Credit
Thanks to the CII, you can recover 20% of your innovation-related expenditure. Find out more about the tax credit in our practical fact sheet. For even more assistance, we say “yes”!
To finance your patent, you can contact the BPI (Banque Publique d’Investissement). Get in touch with your CCI, local authorities and INPI! Assistance to support the economy, for young entrepreneurs or innovative companies, is sometimes subject to deadlines and the need to submit an application. During a slump, identify the various procedures already in place to finance your innovation!
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