With a title like this, its easy to think it’s just clickbait. No way you can have $1B of value from patents. Actually, that’s exactly what you can do with the right patent portfolio.
So the title is here to illustrate a very key point of intellectual property.
There are many ways to generate revenue, value, and profits with intellectual property, especially with patents.
How To Create $1B Worth of Value with Patents
To understand this, we need to take a more strategic look at patents and IP themselves.
At Patent Insider, we break down patents and IP into three different pillars:
- IP Asset Development & Fortification
- IP Enforcement & Defense
- IP Commercialization
IP Asset Development & Fortification
This is where you evaluate your potential IP, decide what you need to protect, and what legal tools you need to use to protect it. More than likely, you will use a combination of trademarks, patents, copyrights, and policy agreements to build your IP portfolio.
IP Enforcement & Defense
Enforcement and defense is all about fighting for your rights. This takes place in a courtroom through litigation in infringement trials or at the Patent Trial and Appeal Board at the US Patent and Trademark Office. This is often very pricy and can be a business blood sport where winning may still cost you your business.
IP Commercialization
Commercialization is about leveraging your IP for value. This is a broad canvas to paint on as creativity is your only limit when figuring out different ways to get paid. Licensing your IP to manufacturers or brand partners is one way to go. Another way this is done is what is demonstrated by Marta’s exceptional work at Qualcomm. You can create an entire market for new foundational technology by researching, innovating, and developing the tech, and securing the 700 or so patents to own all the IP related to your innovations. At Qualcomm, Marta did this with codecs which are the backbone of much of the streaming and video conferencing technology we use on our zoom calls, YouTube videos, Netflix, Hulu and music streaming. Then you can require all companies that use your tech to pay you a licensing fee. Companies like IBM and Qualcomm have been leveraging their huge patent portfolios for money for decades. This is where you want to be. Build up your IP war chest of IP assets and prepare for this phase of transforming your ideas into revenue.
Meet Marta Karczewicz: Brains Behind Qualcomm’s $1B Patent Portfolio
Owner of ~700 patents
Learn more about Marta’s amazing technological contributions in these highlights from the source article:
-Marta Karczewicz is Qualcomm’s vice president for technology.
-Her team is responsible for creating the equations and algorithms behind codecs.
-She holds nearly 700 patents mostly related to video compression innovations.
-She ranked No. 1 among women inventors on patents with a collective estimated value in excess of $1 billion as of last year
-“She is one of the most successful inventors in the world — a patent value billionaire,” said Dr. Andrew W. Torrance, president and CEO of PatentVector.
-She got her start at Nokia in college and earned her PhD
-She credits her persistent curiosity and inquisitiveness for her innovative approach.
-“I am more wrong than I am right,” she said. But she says in the process she gains the satisfaction of having discovered an answer on her own. As a consequence, she considers checking assumptions an essential part of pushing boundaries.
The article ends with
Karczewicz’s Keys
- Qualcomm’s vice president for technology who ranks No. 1 among women inventors, holding patents with a collective estimated value in excess of $1 billion as of last year.
- Overcame: Domination of the science and technology field by men.
- Lesson: “It might take you hours, or sometimes in some cases, a week or two or three to solve (a problem). And very often there is not really a single solution. There are multiple solutions.”
#technology #scienceandtechnology #video #womeninstem