We are living in an age where we are surrounded by products originated from smartphones, IoT, and other technology-driven product and processes. IoT has made lives more comfortable because of their functionalities, ease of usage and diversity of applications. Protecting IoT based products and technology-based goods and services can be complex but not impossible. This needs a proper understanding of software as well as hardware and legal requirements of patentability. After that, also you must have a foul proof IP strategy and IP asset management in the later stages to restrain potential infringers. You have many benefits of maintaining a good portfolio, for instance, licensing or assigning patents for IoT & CAD offers profitable streams of income. A strong IP asset portfolio leads to tremendous profits and sooner or later it’s all going to explode in the market because everybody is eyeing on advancing in this area by exploring opportunities to get a competitive edge through innovations (e.g. patent race for 5G). As IoT or CAD needs really intellectual to generate an idea and then execute it into the product, they are most suitable to create and protect IP Assets.
We at Excelon IP respects such IP creators and help them to create, protect, defend as well as commercialize their inventions and encourage them to keep doing research for the betterment of society as we know the byte computer and codes of software and understand that its not just an algorithm but a whole new.
Case StudyIndustry: Software Development Company
Project Requirements: The client was developing a product for home automation with innovative features on existing products. However, the client was not sure if that is eligible to get protected by any form of IPR and contacted Excelon IP to understand the possibility to protect their IP.
Solution: After understanding features as well as a live demo of the product, we have explained various types of IP that can be protected and also prepared a report on IP strategy for their product by proposing full proof protection of their business. We suggested filing a patent as their work was a combination of software and hardware, suggested a brand name for their product and advised us to file Trademark and also advised us to file design as their product design was also unique.
The benefit to the business entity: After our suggestion and guidance, the client agreed and filed Trademark, Patent as well as Design and launched the product with main focus on the protection of their IP which helped them to close few deals with an overseas client.