Iconic investors like Warren Buffett always emphasize the importance of an economic moat for companies to qualify for Berkshire Hathaway investment.
What is an economic moat?
The term economic moat, popularized by Warren Buffett, refers to a business' ability to maintain competitive advantages over its competitors in order to protect its long-term profits and market share from competing firms. Just like a medieval castle, the moat serves to protect those inside the fortress and their riches from outsiders.
One of the best economic moats protect by the legal framework are
Every scientific entrepreneur working with their team on a novel, innovative idea that will change the entire world in the future for the better can protect their innovation with a patent.
Such a patent keeps the competition from duplicating the idea for a specific time.
This mechanism sounds excellent in principle, and yet, putting it into practice is sometimes very tricky.
What are the basics of a patent process?
How does that interact with the companies strategy?
Are we protecting any invention or being more selective?
Those are just a few questions around the topics of patents and IP Strategy that every deeptech entrepreneur needs to ask themselves once in a while.
That’s why I asked Dr. Andrea Sommer to sit down with me for a few hours to shine a light on these topics.
Ad Personam - Dr. Andrea Sommer
DR. ANDREA SOMMER, patentaffairs.com debuted in the field of Intellectual Property in 2001. Thanks to her interdisciplinary studies and industry experience in R&D, she can advise and represent her clients in all areas of patent, utility model, trademark and design law, employee invention law, and plant varieties.
She advises and represents her clients before the German, Austrian, and the European Patent Office with a tailor-made strategy depending on the client’s needs and budget due to her interdisciplinary studies and industry experience in R&D. In patent litigation proceedings, she regularly cooperates with specialized attorneys at law before the competent courts.
Her core competence is focused on advising clients in prosecution, opposition, and appeal proceedings as well as nullity of protective rights before the respective patent offices, the Federal Patent Court, and the Court of Justice (patent nullity proceedings) in national, European, and international trademark, design and plant variety rights, validity and infringement opinions with respect to intellectual property rights as well as due diligence.
With her international network, she is able to find a fast, competent, and efficient solution/strategy for each issue. For many years she has been a lecturer and speaker on various topics of intellectual property. Because of her ongoing studies of the latest case law, jurisprudence, and jurisdiction as well as various techniques, her clients’ benefit is excellence.
00:00 Opening Christian Soschner
02:00 Intro Andrea Sommer – Importance of Patents
03:48 The Role of Patents in Deep Tech Companies – Understanding the Importance of Patent Processes
13:51 What is the right point in time to file a patent application?
15:57 Patent process in Europe
24:25 Patents – A Once in a Lifetime Event or a Process?
35:00 The importance of getting the right information for the first filing
37:10 The Reasons for an FTO Analysis from the Patent Attorney’s Perspective
41:40 When is the right time for an FTO Analysis
46:00 More Details on the Process of FTO Analysis – Better Late than Never?
51:15 How to Implement Patent and FTO Processes into the Organisation
57:27 Patent Infringement
01:02:10 Possibilities of Compulsory Licenses
01:07:15 A Brief History of Patent Laws…
01:09:20 … and The Future Of Patent Laws
01:15:00 The Future of Patents and Licenses
01:23:00 Patents and Sars CoV 2 – Would giving up patent rights by governmental enforcement tackle the right problem?
01:27:40 Tesla put all Patents into the Public Domain 2014 – Does that make sense?
01:33:20 The Role of Patents in Startups
01:40:30 Is there a difference between US Entrepreneurs and their European counterparts?
01:44:00 Perception of Entrepreneurship
01:49:00 How to Collaborate with Big Corporations as an SME
01:53:00 Patents and Investors
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