The Importance and Value of Patents in a Corporate Setting

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When it comes to business, patents are an under-utilized asset and weapon.  Many Fortune 500 companies, including tech giants, have patents worth billions of dollars.  Patents are an integral part of businesses, and form both value and protection of ideas.

For example, tech company IBM is the largest holder of patents in America.  They own over 7,300 patents, an outstanding achievement.  Other large patent holders include Samsung with over 5000 and Canon with over 4000.  Tech giant Google came in with over 2800.

IBM is rated (by the IEEE Spectrum which tries to measure the power of the patents in possession of a company) as the most powerful patent holder, with Google coming in at third.  General Electric, Microsoft, and Johnson and Johnson also made appearances within the top 10.

With tech company Yahoo recently struggling until it was forced to sell out, it’s been revealed that they hold an enormous amount of patents.  Google only recently overtook them.  In fact, it’s estimated that their patent assets were worth as much as the rest of their business.

Knowing what an integral part of companies patents are, you should definitely consider filing them from a corporate perspective.  In addition to protecting your ideas and giving you a competitive advantage, they can serve as powerful asset for your company.  If you do consider applying for a patent, you have to be aware of the geographic area or city you are applying in.  For example, if you worked for a business in Edmonton, Alberta then you would need a firm with a strong knowledge of Canadian patents.  No matter what though, you need a qualified professional to assist you in the process.