IP

How the LOT Network seeks to protect medtech, biopharma IP

There are about 30,000 to 40,000 patents for sale on the open market at any moment. Traditionally, most patents for sale stem from distressed tech companies.

Patent assertion entities (PAEs, sometimes referred to as “patent trolls”) take advantage of the situation by buying up patents that provide fodder for patent lawsuits.

“They can just find a halfway decent looking patent for $50,000 or $100,000, and then they can threaten a high tech company with a $100 million lawsuit,” said Ken Seddon, CEO of the nonprofit LOT Network focused on protecting companies from the threat of PAE litigation.

Get the full story form our sister site, Drug Discovery & Development.

Design patents can provide extra protection for medical robots

Filing design patents can protect a medical robot’s overall aesthetic and the software user interface.

Roman Fayerberg, Todd C. Basile and David J. Dykeman, Greenberg Traurig

[Image from Pixabay]

Medical robotics companies often emphasize utility patents when building strategic patent portfolios, given the complex nature of robotics technology. However, don’t overlook design patents, which provide another layer of protection by covering elements of robotics beyond the scope of utility patents.

A robust patent portfolio is an important indicator of a successful medical robotics company. As the medical robotics industry continues to grow and more and more companies enter the increasingly competitive market, a medical robotics company needs a comprehensive and strategic patent portfolio around its technology to compete. A strategic patent portfolio attracts investors, keeps competitors at bay, and provides …