SMEs are often in a risky position of not having access to professional advice or formal training about intellectual property (IP), and therefore can unknowingly handicap themselves in whether or how they use IP. As a starting point, here are the 10 things every SME should know about IP.
Small companies can face large financial hurdles on the way to securing intellectual property (IP) protection, particularly with patents. Accumulated patent lifecycle costs can exceed $125,000 for one US & one PCT filing. This cost may include prior art searching, patent drafting, patent prosecution, and maintenance fees.