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Grazer: Filing a patent application typically adds $1M to startup valuation
“Typically filing for a patent application, even before it's granted as an, you know, before it becomes an issue, patent will add a million dollars to the valuation of a startup.”
Grazer: Several Craig Venter genome patents were ultimately ruled invalid
“Indeed a number of the patents that Craig Venter got were finally held not to be valid”
US law forbids patenting pure genetic material without human manipulation
“So ultimately in the U S it was held that these genes could not be patented. That pure genetic material was not itself Patentable. Only if it was manipulated by humans, for example, for use in making special proteins, could it actually be patentable?”
Grazer recommends 7 to 10 drawings for software and hardware patents
“For example, for software hardware drawings, I recommend that the innovator would have at least seven to 10 drawings. It's a good rule of thumb to make sure you really explain your idea.”
Grazer: Inventors do not need a working prototype to secure a patent
“You don't actually need to have ever built your idea before you get a granted patent. You can actually just have a really good design, and it has happened that there are innovators who have come up with great ideas, but who haven't managed to make a commercial…”
Grazer: Initial Patent Applications at Top Firms Can Cost Up to $20,000
“If you go to a fancy firm, you can spend up to 20,000 dollars for the initial application, depending on how much extra work you do with them.”
Grazer: Facebook had to buy patents before its IPO at bankers' insistence
“Facebook actually had to buy more patents before its IPO, because the investment bankers handling the IPO said, you don't have enough patents. This will make it hard for us to do the IPO because patent pending represents potential.”
Grazer: NDAs are hard to defend in court compared to patents
“I mean, NDAs, non-disclosure agreements are great, but they're very hard to defend in court. Whereas a patent is an absolute right, and it can be super helpful, especially when dealing with a bigger competitor.”
Grazer: More patent pools and FRAND agreements will emerge by 2031
“So in my opinion, in the next 10 years, we'll see more patent pools, more
Patent agreements come up that will allow for such fair and reasonable licensing agreements.”
Grazer: AI industry will not agree on a single patent standard
“Now, it could very well be that folks will reach agreements in particular industries. I have a hard time seeing that the entire AI industry and all these different verticals will come to a single agreement.”
Grazer: Patent law currently recognizes only human persons as inventors
“Right now, an inventor is considered to be a person.”
Grazer: Patents are the only legal monopoly outside regulated utilities
“Patents are the only legally permitted monopoly right outside of, say, highly regulated utilities.”
Grazer: Specialized Banks Issue Tech Loans Backed by Patents
“There are even special banks set up that do nothing but give loans to high tech companies on the basis of their patents.”
Drafting an initial patent with an agent takes six to eight weeks
“Doing it with a patent attorney or agent, typically you're looking at six weeks to two months. Could be a bit longer if you realize in the middle that you need to rework the idea.”
Grazer: USPTO first responses take 1.5 to 4 years
“Typically now I'm seeing it takes one and a half to two years, or even three or four years before you get the first reaction from the examiner.”
International Patent Filings Require Filing Before Any Public Disclosure
“Outside the U S You are only allowed to file for a patent if you do so before you publish.”
Grazer: US Courts Deny Preliminary Injunctions to Non-Practicing Patent Entities
“In the U S the patent trolls are the knows knows the MPEs and non-practicing entities. Their power has been reduced somewhat because now in order to get a preliminary injunction, so that is when, let's say I accuse you, Sean, of patent infringement, not to go …”
Grazer: Jack Dorsey founded a blockchain patent pool to curb monopolies
“So for example, Jack Dorsey, CEO of Twitter, who's also CEO of Square, has recently founded a new patent pool in blockchain, and he's encouraging others to put blockchain patents in, in order to keep large companies from monopolizing the space.”
Grazer: Companies like Twitter and Tesla pledged purely defensive patent enforcement
“Some companies have decided on their own that they will only enforce their patents if someone attacks them first. So Twitter has pledged this Elon Musk in a famous blog post with the title, all our patents are belong to you playing off of the famous meme, all …”
Anyone can file US, European, or Chinese patents without local ties
“Innovators all over the world can get a patent in the US. You don't have to be a US citizen. You don't have to have a US company. You don't have to have any US ties. Similarly, anyone who, even if they don't live in Europe or have a European tie, can get a pat…”