When Energy Aware CEO Janice Cheam spoke about the PowerTab’s competitors, I wondered why the company had opted not to patent their product. To me, it seemed like the obvious choice: ensure the product is perpetually perceived as innovative by preventing its replication (or perhaps improvement) by competitors.
Janice prompted realization that patents accompany great responsibility. Obtaining money to issue a patent represented only half of the endeavour. The other half is characterized by the continual struggle to defend that patent.
While claiming intellectual property might be advantageous for some, I came up with situations where it presents as a disadvantage:
- Issuing and defending a patent is money-draining. It is a fatal mistake to invest in a patent when a product’s profit doesn’t exceed patent costs.
- When a product is new or continuously changing, obtaining a patent today means that tomorrow’s innovations are not protected from plagiarism.
- Defending a patent may mean fewer resources (time, money, intellect) are invested in new innovations. Meanwhile, other companies have employed their resources to get ahead, creating more innovative products.
I was mistaken to believe that patenting is a “coming of age” process for all inventive companies. In truth, it’s a gamble, and oftentimes, refusing to roll the dice (like Energy Aware has) allows resource investment in continual product development rather then hefty legal fees.
In many ways, choosing to patent is a gamble.
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