What you pay for this patent? How Patent Counsel Hiring is as VP Wardrobe Checkout

The recent outcry about Sarah Palin "gold plated" wardrobe from Saks and Neiman Marcus made me think of how many companies choose the company of patent law. This may seem a non sequitur, but bear with me ...

Those responsible for the preparation of Governor Palin seem to believe that the cost of compliance at Neiman Marcus and Saks automatically translated into the value for the Republicans, which allows more than "Vice President" what would otherwise have beenconsidered. Despite the high cost of his new cabinet, the report by the New York Times, the whole "look" remains the same as when she served for the campaign and as governor of Alaska Business Jackets cases feminine skirts and high heels. The answer to this Cabinet attracted makeover from a leading fashion commentator: "Honey, I could have for much less." From this comment, as the game goes on the cost, it appears that spending on Gov.Wardrobe Palin is not directly related to the value provided for the McCain-Palin presidential ticket.

N uneven, when I think review patent portfolios for clients of valuation and strategic analysis, I often to myself, "what you paid for this patent? Too often, professionals otherwise engage effectively smart" magical thinking to assume "that the take action to make money in a company with the patent to create value mean premium for the company. Of course, thisProfessionals who do not believe that simply run into the value of money in other areas of their business. So, why in the field of patents?

I believe that the information costs associated with screening and selection of legal services related to patents, it is difficult for busy professionals make informed decisions regarding their company patents. Without legal training or experience in the business of substantive patent law, the vast majority ofEntrepreneurs think that they probably will not be able to policy decisions leading to the patent portfolio of their company. You can not make rational decisions, a cost-effective implementation, but excellent otherwise, to the firm of patent attorneys on their patent work. Otherwise, all other means of selecting a consultant, it is assumed that the value of the company will intensify if they hire the equivalent of the patent law firm Neiman Marcus and Saks, even if they could getthe "patent" look a lot cheaper than in corporate law.

Fortunately, there is a solution to the problem of information law office patent costs. The emerging specialty of intellectual property (IP) strategy, business professionals provide the necessary information about the study and the most appropriate cost model to select the patent counsel. IP business strategist can be effective as a corporate professional "personal shopper" in the selection of the Councils of the patent functionand to support the management of the legal costs of patents. In this role, the business IP strategist can obtain the patent right "look" for a company to know where in legal services shop.

This does not mean that the company IP strategists never Neiman Marcus or Saks equivalent of a company would choose patent law. Certainly there are situations in which justifies the costs of patenting such a society, because in a so-called 'betting the company "invention or disputes. However, as a "personalShopper "for patents, an IP business strategist makes it a professional, an informed decision about the adequacy of these higher costs.

In addition, the business strategy of the investigation is also connected to the margins of patent law and as such will be better able to negotiate a discount in the Registry. In other words, the patent of "personal shopper" is a professional for Neiman Marcus and Saks to help sell quality at a price "." AndLove, get a quality product to a discount?

A "personal shopper" for patents do not necessarily lead to lower costs for companies, but I can almost guarantee that the quality and value is total patent-growing portfolio. Moreover, it is very likely that the cost savings made possible through the commitment of a company with a business strategy, intellectual property will cover the cost of hiring such a specialist. As firms increasingly realize that the cost was not legally bindingValue of patents, intellectual property rights of the most strategic enterprises will be seen as a useful means to improve the type and manner of the patent legal services.

You Paid What For That Patent? How Patent Counsel Hiring is Like the VP Wardrobe Buying Process

The recent outcry about Sarah Palin's gold "wardrobe from Saks and Neiman Marcus has got me thinking about how patent law firms choose many companies. This may seem like a non-sequitur, but bear with me ...

Those responsible for dressing Gov. Palin apparently believed that the big spending at Neiman Marcus and Saks automatically translated into the value for the Republicans by far than his "vice president" than they would otherwise have beenconsidered. Despite the still high cost for their new wardrobe, as in the New York Times, her overall "look", reported the same as if they served for the campaign and as governor of Alaska: Business-appropriate jackets, feminine skirts and high heels . The answer to this wardrobe makeover from a major fashion commentator: "Honey, I would have dressed you for a lot less than, dass" From this comment, and the continuing backlash over the cost, it seems that the cost of Gov.Palin's wardrobe is not directly correlated with the value provided for the McCain-Palin presidential ticket.

Not unlike when I review patent portfolios for clients for evaluation and strategic analysis, I often think to myself, "what you paid for this patent?" All too often, otherwise smart business people actually exercise, "magical thinking" by the assumption that the act of bringing the money at a high-end patent law firm in the creation of business benefits. Of course, thissame professionals would not believe that the mere act is the output value of money in the lead in other areas of their business. Why do they do this in the patent field?

I believe that the information costs associated with the examination of patent applications and the selection of legal services, making it difficult for busy business people to make informed decisions in patent their business affairs. Without legal training or significant business experience in patent matters, the vast majority ofManaging probably do not think that may be directing the strategic decisions about their patent portfolio. Therefore, they can not rationally make the decision for a low-cost identification, but otherwise excellent, patent law firm to work on their patent issues. For lack of other means to consult with those who choose, they assume that business value is increased if they can rent intellectual property law firm equivalent of Neiman Marcus and Saks, even if they could have wonthe same patent "look" by setting a much less expensive office.

Fortunately, there is a solution to the patent law firm information cost problem. The emerging specialty of intellectual property ( "IP") business strategists can do business to provide professionals with the information necessary to cost-educated and appropriate selection of patent counsel. An IP business strategist can effectively his duties as a business professional's "personal shopper" in the selection Patent Counseland assisting in the management of patent litigation. In this role, the counterparty will receive the correct IP strategist patent "look" for a company may, by order to know where to shop for legal services.

This is not to say that the business IP strategist would never select the Saks or Neiman Marcus equivalent of a patent law firm. Situations certainly exist where the cost of such a patent law firm would be justified, as in a bet known as "the Company" invention or litigation. However, as a "personalShopper "for patents, an IP business strategist allows a business man, an informed decision about the appropriateness of such higher costs.

Also, the IP business strategist understands the profit margins associated with patent law firms and as such will be better able to negotiate a discount in the Registry. This means that the patent "personal shopper" is a business man at Neiman Marcus and Saks to help maintain quality to a "purchase price." And who does notLove on a high quality product obtained at a discount?

A "personal shopper" for patents will not necessarily lead in reducing the cost of a company, but I can almost guarantee that enhance the quality and value of patent portfolios. Moreover, it is very likely that the cost savings are enabled through the use of a company from an IP Business Strategist to cover the cost of hiring these specialists. As more and more companies become aware that legal costs can not be equated necessarily withPatent value, the more IP business strategist receives as a useful tool to be seen to improve the way a patent legal services.