On Sunday, April 21st, 2013, I attended a standing room only session titled, “What Every CEO Must Know About IP In Biotech”, part of Day One of Entrepreneurship Boot Camp. Kathryn Doyle, Ph.D., J.D., of Riverside Law and Stephan Sammut of the Wharton School spoke about changing patent laws and what they mean for biotech companies.
Concepts and tips discussed included:
- How to develop a patent strategy when developing a product you’re trying to commercialize
- When developing your patent strategy, ask yourself: “What will the product look like in 3 years?” Decisions about protection need to be made as early in the process as possible, according to Dr. Doyle
- Be aware of what your competition is doing
- Understanding the difference “Freedom To Operate” (when others don’t have patents that prevent you from patenting your product) and “Patentability” (whether your invention is novel enough and meets the requirements to patent)
- Why a patent strategy is valuable, and how it gives you a proprietary market advantage
- Speakers answered specific patent questions from the audience and patiently explained how and why patent laws apply
- Implications of the America Invents Act of 2013 and why it is bad for small companies & universities
- A timeline and list of components and dates for AIA implementation
Don’t miss Day Two of Entrepreneurship Boot Camp on, Monday, April 22nd, 2013 from 8:30am to 6:30pm in room S405B.