Managing Patents in the
|•||Understand marketing's IP and product development focus|
|•||Understand the difference between methods of use or systems patents, improvement patents, design patents, trade dress, and copyrights|
|•||Learn the critical elements that will offer your company the competitive marketing edge|
|•||Learn how to establish a patent plan in marketing|
Patents mean more to the marketing department than to almost all the others. Being a legal monopoly means legally being able to sell products that competitors can't. To the marketing department, patents can represent superior products, greater sales, higher profits, a more secure market position, and longer product life cycles.
Although marketers tend to focus on sales and building the brand name, there is simply no better way to protect the name than by patents. This is especially true in the early stages of new product launches. Initially patents can protect a new product launch against knockoffs. With 20 years of patent protection, trademark recognition is built into and embedded in the minds of consumers. Over the long term, the trademark becomes of much greater value, but it could not have been established without the initial patent protection. Some excellent examples are General Electric's lightbulb (GE), Hoover's vacuum, Xerox's