At Prevayl®, our intellectual property is one of our most valuable assets. Since the company’s inception in April 2019, we have filed 79 patent applications relating to the technology we continue to develop.
As part of our intellectual property strategy, we have an in-house department consisting of patent attorneys that work to ensure any intellectual property generated from within the business is identified and protected in the best possible way.
Today we’re catching up with Sam Bird, Prevayl’s IP Director, and Chartered and European Patent Attorney.
Sam is a specialist in protecting electronics and software inventions and has a master’s degree (First Class Honours) in Biomedical Engineering from Imperial College London.
Why is intellectual property protection so important for tech businesses?
Any tech business, from start-ups to established market leaders, must protect their intellectual property rights.
Intellectual property rights are essential for innovation. When a business patents its ideas, it is the only entity that can take commercial advantage of those patentable ideas. This creates the room for that business to innovate and develop unique products and services that ultimately benefit consumers in the long run and help society to grow.
Without these rights around intellectual property there wouldn’t be the safety net to develop products past the idea stage. Innovation would be impeded, which would ultimately result in stagnation of the tech industry. The ability to patent your ideas underpins everything.
Is that why it’s so crucial for Prevayl?
The team at Prevayl continues to come up with new ideas and concepts every single day. To bring these ideas to fruition in the form of products and services, protecting our IP rights has to be fundamental to our business approach.
How are you doing things differently at Prevayl?
We’ve invested in this side of the business from the outset, ensuring that we have an in-house team that began filing patent applications from day one. To date in 2019, we’ve filed 79 patent applications.
We’re also encouraging inventors from across the business. Bella Hepworth, our Apparel Design Director is a great example. Since joining Prevayl, Bella is listed as a sole inventor on a number of our patent applications. Bella is addressing the under representation of women inventors (accounting for just 13% of patent applications worldwide).
As a business, we’re embracing diversity in the tech industry.
Finally, what’s next for Prevayl and IP in 2020?
It all comes back to innovation. As the team continues to come up with unique, creative and new ideas, it’s our job to make sure that they are protected to eventually become part of our product suite.