Patents are the most common tool to obtain Intellectual Property (IP) protection and are often essential in securing investments necessary for continued development. Time and money consuming developments will only be economically justified when there is a reasonable chance of obtaining return on investment.
During the initial scan of a patentable idea, an evaluation is already made of potential partners which can help in advanced development. Once the application has been submitted, those partners will be approached, always in close harmony with the inventors, and will be offered a license on the generated IP. That enables advanced development and might also provide funding for additional research and patent costs.
The transfer of technology is a source of satisfaction for inventors – the impact of their research extend beyond the academic environment in the industrial world.
Patents and license agreements help in demonstrating the added value of research. The tendency is that added value becomes increasingly important for the evaluation of research proposals, grant applications and also for the researchers themselves. Patent application data (18 months after the priority date) can be included in the researcher/inventor’s publication record.
One of the requirements for a patent is novelty. It is therefore important that any patentable idea is discussed with Meccano, before it is made public through publication, including presentations, posters, and submitted manuscripts. When the idea is shared early, any delays in publishing can remain to the minimum.
Small companies are important for our economy. These companies stimulate innovation and are important job creators. Capital is often essential to turn a brilliant idea into success. How to get funding for your idea? There are several potential funding mechanisms and Meccano can assist in determining the most suitable one.