The economics of patenting,
the importance of innovation
and the role for of patents for SME
Gerhard LOSENICKY
• at APO since 1991
• Examiner for 15 years
• since 2006 Department: Patent Support / PCT
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topics
• commercial background
• product cycle
• patent filing – when???
• EPO – facts & fees
• PCT - facts & fees
• Patent valuation
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with IPscore
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commercial background
What are patents for
(e.g. Austrian Law, Section 22)
entitle the patentee to exclude others from the following
• to industrially produce the subject of the invention
• put it on the market
• offer it for sale
• to work it
exclusive right  prohibit (allow) others to do (produce) something
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commercial background
How patents can be used in commercial life ?
commercial
exploration
• assure company future
• competitor has to „design around“
 higher development costs
• competitor can be confused
prevention from
imitation
•
•
•
•
monopoly
better price
cheaper production
sue against infringer
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cross-licensing
•
•
•
•
additional technology
more freedom for market
better than lawsuit
patent-pool
reputation
• better image at market
• better image as an
employer
• motivated employees
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blocking
patents
• block market entry
• higher development costs
• -> better market share
licensing
• greater market share
• faster return of
development costs
•better than lawsuit
4
commercial background
reason for patents
Large
companies
Medium sized
companies
Small
companies
Universities
prevention from
imitation
1
2
2
4
commercial
exploration
2
1
1
1
blocking
patents
3
3
3
5
reputation
4
4
5
3
licensing
5
5
4
2
cross licensing
5
6
6
6
Source: European Commission (2005), Research Project ETD/2004/IM/E3/77
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1= highest priority
5
product cycle
Showing the life–cycle of a new product:
1
2
3
4
Stage 4: Degeneration
Stage 3: “normal” Life
Stage 2: Business exploration
Stage 1: Research and Development (start – up or ?)
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product cycle
Life-cycle  Profit  Cost  Risk
Profit
Cost
Risk
?
loss - cumulated - profit
New
Product
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poor
dog
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Star
cash
cow
7
product cycle
? - New Product (1. quarter)
• Technical but no market knowledge
• Internal funding (small investment)
• Market contact
• IP information search
• Market survey
• Technology feasibility / Prototype
• Business plan
?
Star
poor
dog
cash
cow
New
Product
• Inventor ship transforms into product
• Serious IP considerations
• High risk
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product cycle
Star (2. quarter)
• Risk bearing financial partners exit
• Partners have the opportunity to receive
their share of the enterprise
• Owners exit oppertunity
• Inventor ship transforms into product
• New sources of finance (banks)
• Profits can be used for market expansion
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?
Star
poor
dog
cash
cow
New
Product
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product cycle
Cash Cow (3. quarter)
• Low level of risk
• Use the success of the product to
make company successful
• keep the sales indicator at their peak
for the maximum amount
• Reinvest the profits
 for new rising business
?
Star
poor
dog
cash
cow
New
Product
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product cycle
Poor Dog (4. quarter)
• Profitable rate starts to shrink
• Launch time for “New” Products
• Risk increases again
 new competitors
?
Star
poor
dog
cash
cow
New
Product
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product cycle
Product – cycle   innovation process
a good way, as it should be
the better way, shareholders favourite
last product
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present product
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next product
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Patent filing – when???
When is the right time for filing a patent ?
better later
• After 18 months  published
• In PCT: National entry phase starts later
• Annual patent fees are more expensive
• Development of product is in a final state
better earlier
• Only after filing invention is safe
• Keeping secret can be dangerous
• Better position in case of negotiations
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Patent filing – when???
Research and Development Phase  Patent filing
Market observation
Market launch
Process optimisation
Design optimisation
Feasibility
Alternative concepts
Idea generating
Idea
Concept
Patent search
Feasibility
Development
Scale Up
Launch
Post-
Launch
Patent search
Freedom to operate
Patent filing
Licence
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Patent filing – when???
Important days for an Patent application
publication
DE - patent
EP - Pat.- Office
application day
= priority day
FR - patent
HU - patent
1
US - Pat.- Office
US - patent
ZA - Pat.- Office
ZA - patent
SG - Pat.- Office
SG - patent
PCT - procedure
•EP - Search Report
•publication
TR - application
 TR - patent
0
6
12
18
24
30
National Patent Office e.g. US
36
months
US – patent
DE – patent
Regional Patent Office e.g. EP
FR – patent
HU – patent
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Patent filing – when???
Summarising the time depending facts
As late as possible
• Before informing business partners
• Before publishing the new invention
• Before involving suppliers
• Before informing sales representatives (sales man)
Not too early
• Invention should be complete (patent should cover the product)
• Application is always published 18 months after filing
• Should not published before market launch
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EPO – facts & fees
Patent application at the European Patent Office
DE - patent
EPO granting procedure
FR - patent
CH - patent
European Patent Office
GB - patent
HU - patent
TR - application
TR - patent
0
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6
12
18
24
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30
months
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EPO – facts & fees
provisional protection provided
application in FR DE EN
NPO (only forwarding)
EPO (Munich, The Hague, Berlin
not at EPO - Vienna)
publishing
(reasonable compensation)
(A1,A2)
state 1
application after 18
months since priority
date
state 2
state 3
Search Report (A1,A3)
granted
Examination on filing
Formalities examination
max. 6 months
EP - search
Fees:
1 month time limit
Application fee
€
190.(
--- “ --online
€
105.-)
from page 36 per page
€
13.claims fee 16-50 per claim € 210.claims fee 51 + per claim € 525.Search fee
€ 1.105.-
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request examination
Fees:
Examination fee
€ 1.480.Designation fee
€ 525.Extension fee à
€ 102.Renewal fees from the 3th year
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(B1)
9 m Opposition
Fees:
Fee for grant € 830.translation of the
claims in the other 2
EPO - official languages
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EPO – facts & fees
What is to considered for an EP – Application
• EP application at the APO in Vienna, like direct filing at EPO (form 1001)
• Any natural or legal person
• Appoint an representative if neither a residence nor a principal
place of business in a contracting state
• This representative  all proceedings except application and fees
• To designate an inventor is necessary
• Add national Search Report - R 144 + R 70 b
(from 1.1.2011)
• Request Examination during the application 
waived your right to receive the communication R 70.2
• 1 month time limit for fee
• Languages: Application in DE, FR and EN
• Renewal fees according EP – system (from 3. Y = 420.-, 525.- 735.-, 945.-…)
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EPO – facts & fees
What is to considered when a EP – Patent (B1) is
granted
• Take effect when grant is mentioned in EP – Patent - Bulletin
• 9 months time limit for Opposition
• Language translations (London Agreement)
3 months time limit in Austria
• In AT: Fee for publishing € 150.- + € 30.- = € 180.- (+ € 130.-/ 15 pages)
• Appoint an representative if neither a residence nor a principal
place of business in a Austria
• In AT: No representative only for fees
• Annual fees according the National System (notice: Time limits)
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EPO – facts & fees
change over EP  national Patent
European Patent Bulletin
published by the EPO as a B1 document
•European publication server
EP - OFFICE
Patent is granted by the EPO and
published
[email protected]
annual fee
e.g. TR is
designated
(depends on application day)
(if failed – patent was not in force)
national patent data base
national Patent Bulletin
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TR - OFFICE
time limit for translation
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EPO – facts & fees
„London Agreement“
in „contracting states“ (and ratified) for applicants there are no, or
reduced translation costs
2 groups of states
official language is EPO language
official language is NOT EPO language
States having an official language in
common with one of the official
languages of the EPO dispense with
translation requirements under Article
65(1) EPC (Article 1(1) of the London
Agreement)
States which do not have an official language in common with
one of the official languages of the EPO may require that a
translation of the claims into one of their official languages
be supplied (Article 1(3) of the London Agreement).
•
•
•
•
•
•
•
Germany
France
Liechtenstein
Luxembourg
Monaco
Switzerland
United Kingdom
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claims be supplied in their official language
YES
NO
language
prescribed
NO language
prescribed
•Denmark (EN)
•Island (EN)
•Croatia (EN)
•Netherlands (EN)
•Sweden (EN)
•Hungary (EN)
•Latvia
•Lithuania
•Slovenia
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EPO – facts & fees
Advantages:
• After priority year and national search report
• 3 official procedure languages
• Translation costs after granting,
and reduced by „London Agreement“
• Equal Patent-Claims
Disadvantages :
• Costs of the procedure ~ 4500.- €
• No EP-Patent, only
1
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2
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EPO – facts & fees
EP
EA
OAPI
ARIPO
GCC
European
Patent Office
Eurasian
Patent Office
Org. africaine
de la propriété
intellectuelle
African
Regional
Intellectual
Property Org.
Gulf
Cooperation
Council
(no PCT-office)
AM
AZ
BY
KG
KZ
MD
BF Burkina Faso
BJ Benin
CF Central
African
Republic
CG Congo
CI Côte d’Ivoire
CM Cameroon
GA Gabon
GN Guinea
GQ Equatorial
Guinea
GW GuineaBissau
ML Mali
MR Mauritania
NE Niger
SN Senegal
TD Chad
TG Togo
BW
GH
GM
KE
LR
LS
MW
MZ
NA
SD
SL
SZ
TZ
BH
KW
OM
SA
AE
AL Albania
AT Austria
BE Belgium
BG Bulgaria
CH Switzerland
CY Cyprus
CZ Czech R.
DE Germany
DK Denmark
EE Estonia
ES Spain
FI Finland
FR France
GB United Kingd.
GR Greece
HR Croatia
HU Hungary
HU Hungary
IE Ireland
IS Iceland
IT Italy
LI Liechtenstein
LT Lithuania
LU Luxembourg
LV Latvia
MC Monaco
MK R. Macedonia
MT Malta
NL Netherlands
NO Norway
PL Poland
PT Portugal
RO Romania
RS Serbia
SE Sweden
SI Slovenia
SK Slovakia
SM San Marino
TR Turkey
Armenia
Azerbaijan
Belarus
Kyrgyzstan
Kazakhstan
Republic of
Moldova
RU Russian
Federation
TJ Tajikistan
TM Turkmenistan
BA Bosnia & Herz.
ME Montenegro
Botswana
Ghana
Gambia
Kenya
Liberia
Lesotho
Malawi
Mozambique
Namibia
Sudan
Sierra Leone
Swaziland
United
Republic of
Tanzania
UG Uganda
ZM Zambia
ZW Zimbabwe
Bahrain
Kuwait
Oman
Saudi Arabia
United
Arab Emirates
red … after PCT – application - only „regional“ patent possible
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PCT - facts & fees
PCT* - Patent application
DE - patent
EP - Pat.- Office
PCT - procedure
FR - patent
HU - patent
1
US - Pat.- Office
US - patent
ZA - Pat.- Office
ZA - patent
SG - Pat.- Office
SG - patent
PCT - procedure
•Search Report
•publication
TR - application
TR - patent
0
6
priority year
12
18
24
30
months
*PCT….Patent Cooperation Treaty
1
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PCT - facts & fees
publication
application in FR DE EN
ÖPA (Receiving Office)
provisional protection provided
(A1,A2)
(reasonable compensation)
application after 18 months
since priority date
Search Report (A1,A3)
•Examination on filing
•Forwarding to
- IB – international Bureau Geneva
- EPO – for Search
30/31 (34 in BA)
months
preliminary international
Examination (Chapter II)
US - Pat.-Office
19 months from
priority
request for SIS
2 months from ISR
amendment of
the claims
at IB, (Article 19)
1 month time limit
Transmittal fee
€ 50.International filing fee
€ 950.- (€ 879.- online)
from page 30, per page
€ 11.Search fee
€ 1.785.-
FR - patent
HU - patent
Search Report ISR
16 months
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EP - Pat.-Office
Antrag
 Search (EPO)
Fees:
DE - patent
US - patent
ZA - Pat.-Office
ZA - patent
SG - Pat.-Office
SG - patent
Fees: (Chapter II)
1 month time limit
Examination fee
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€ 1760.-
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PCT - facts & fees
What is to considered for a PCT - application
• PCT application at the APO in Vienna (form PCT/RO/101 )
• also at IB Geneva (WIPO) or EPO Munich (RO)
• PCT – Easy: electronic application (paper + data storage)
• each Austrian national or someone who has a residence in Austria
• Language: Application (AT) in DE, FR and EN ---- in BA in EN
• 3 copies (for APO, IB und EPO) ---- 1 copy in BA
• 1 months time limit to pay fees
• To designate an inventor is necessary
• for USA: applicant = inventor
• Examination on filing at APO  deliver to IB und EPA
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PCT - facts & fees
What is to considered during the PCT – procedure
• EPO is Search Authority for PCT-AT and PCT-BA applications (ISA)
• amendment of the claims until 2 months from Search Report at IB
(Art. 19)
• Demand for „Preliminary international Examination“
• Request for SIS (Supplementary International Search Report)
- At IB (Geneva)
- SISAuthorities: FI, SE, RU, XN (Nordic-Patent-Institute), EP, AT
- not at that Office which publishes the main International Search (not EP for AT BA)
- Request form PCT/IB/375 at the IB
- Fees (1 month time limit):
- Search handling fee for IB
CHF 200,
- Supplementary Search fee
~ CHF 2600.- (depends on the SISA)
- in AT: CHF 1190.- (~ € 850.-) at least in German-language documentation
CHF 1667.- (~ € 1.190.-) at least in European and North American documentation
CHF 2381.- (~ € 1.700.-) at least in PCT minimum documentation
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PCT - facts & fees
Chapter II: International preliminary Examination
• Reasons why Chapter II
- „preliminary“ granted
- national application in Luxembourg, Uganda und Tanzania after 30 M
• EPO is “Preliminary Examination Authority” for PCT-AT and PCT-BA
applications (IPEA)
• Demand for „Preliminary Examination“ direct at the IPEA (EPO)
form PCT/IPEA/401
• Demand until (which expires later)
- 3 months from the date of transmittal of the Search Report
- 22 months from the priority date
• Amendments
(Article 34)
- Together with the Examination Request
- Until the above mentioned time limit
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PCT - facts & fees
Europe
CentralAmerica
SouthAmerica
Africa
Near East /
Asia
Indian- Pacific Ocean
Andorra
Vatican
Bahamas
Haiti
Jamaica
Panama
Argentina
Venezuela
Guyana
Surinam
Bolivia
Paraguay
Uruguay
Ethiopia
Western Sahara
Dem. Republic
Congo (Zaire)
Somalia
Eritrea
Djibouti
Burundi
Ruanda
Cap Verde
Yemen
Qatar
Kuwait
Saudi Arabia
Jordan
Lebanon
Iraq
Iran
Pakistan
Afghanistan
Bangladesh
Cambodia
Taiwan (x WIPO)
Bhutan
Nepal
Myanmar
Brunei
East Timor (x WIPO)
Maldives
Mauritius
Tonga
Samoa
Kiribati (x WIPO)
Marshall lands (x WIPO)
Micronesian (x WIPO)
Palau (x WIPO)
Solomon Islands (x
WIPO)
Tuvalu (x WIPO)
Vanuatu (x WIPO)
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Patent valuation
with IPscore
Patent Valuation
Methods
• Market Approach
 E.g. licence royalties
• Income Approach
 Discounted Cash Flow (IPscore)
• Cost Approach
 Development costs, price (buy) of patents
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Patent valuation with IPscore
IPscore® can be used for:
• evaluating patented products systematically and completed in
a time saving manner
• R & D projects, ideas and project proposals, even if no patent
exists yet
• good illustration of the result
• and is therefore a clearly arranged basis of decision-making
TOOL to standardised compare different innovation project
within an enterprise
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Patent valuation
with IPscore
IPscore® consists of...
• 40 assessment factors (questions in 5 fields)
• predefined scales that guide the responses
• a quick estimation of the monetary value (Net Present Value)
• reports visualising one patent or a hole patent portofolio
• a database ensuring documentation and comfortable updates
of evaluation
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Patent valuation
with IPscore
Legal status
Technology
Strategy
Market conditions
Each of this fife fields were analysed
by questions.
Each of the 40 questions has 5
possible predefined answers
• Radar Profiles
• Opportunity / risk validation
Finance
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Patent valuation
with IPscore
The „size of the area“ inside the frequency polygon is a value for „quality“
The example shows „good market conditions“ but deficiency in „Legal Status“
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IPscore® Risiko- bzw. Chancenfaktoren
(Ausgabe)
Risk: 21 predefined questions are sorted by the value (starting: value 1)
Opportunity: 15 predefined questions are sorted by the value (starting: value 5)
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Patent valuation
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with IPscore
37
Kapitalwert (Ausgabe)
Net Present Value:
IPscore®
simply and easy way for
calculating the NPV
Manual input
of the values
+ turnover
+ direct costs
+ overhead costs
+ provision for
depreciation
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Patent valuation
with IPscore
Potential extra increase
in turnover
€
market growth in % / a
earnings
turnover
provision f.
depreciation
overhead
costs
earnings / year – based on
earnings,
the patented technology
provision for depreciation,
overhead costs and
direct costs
are values from the
maintenance of turnover
balance sheet
without new technology
direct
costs
years
values from the
balance sheet
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1. year
2. year
3. year
NPV: yearly earnings =
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less
39
Schaubilder
(Ausgabe)
20
15
Liquidity
10
Accumulated
liquidity
5
Annual
liquidity
0
1
2
3
4
5
6
7
8
9
10
-5
-10
Year
The calculation is based on yearly Cash Flow:
cash flow (CF) = turnover – direct costs – overhead costs – provision f. depreciation
(in consideration of market conditions (market growth etc…))
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Thank you for your attention
Gerhard LOSENICKY
Tel.: 0043 – 1 – 53424 -372
E-mail: [email protected]
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