This refers to the potential to attract research funding, as a result of a patent. Since it is the primary goal of the Institute to carry out research, such an impact would
support the filing of a patent.
3.5 Financial Assessment
A financial assessment is performed to determine whether the patent will bring in at least enough money to cover the cost of patenting. Otherwise, it would not make sense to patent the invention.
What Can I Expect?
Once the decision is made to file a patent, the Inventor will need to work with a patent agent to prepare the application. The Inventor will assist in describing the Invention and in determining its’ Claims. The Technology Transfer/Business Development office will assist with this process and will facilitate the process of acquiring and communicating with the patent agent.
The patenting process is essentially the same in most countries, but the times to issue can vary significantly. Various strategies for filing a patent application exist depending on which countries you choose to patent in, and how many countries you seek protection in. An application can be filed in individual countries, in regions, or alternatively an international patent application may be filed using the Patent Cooperation Treaty (PCT).
It should be noted that patents are only valid in a country. The PCT is a filing system
an international patent is not obtained through the PCT – the application must enter
one or more countries of interest at the completion of the PCT proceedings. In Europe, a regional patenting process exists. However, this is a transient event that is completed by validating the patent in desired European countries. A European patent, is therefore only valid if it is validated (registered) in one or more countries within the EU after its issuance. International and regional patents become worthwhile if protection is sought in many countries, as the application will only be examined once (by the international or regional body), rather than by each country as would be the case if national applications were filed in each country of interest.
The Business Development Office and the patent agent will help you to determine the best strategy for your invention. As the U.S. is the largest market, and therefore most patents are filed there first (as a general rule of thumb), a flowchart outlining the filing process in the United States is below.