Intellectual property underpins tech innovation. By protecting ideas, unique technology and processes, creativity and innovation can grow. Patents are the fundamental safety net for both tech start-ups and established players.
Concepts can move past the ideas stage and the industry can create unique products and services to benefit consumers and society.
At Prevayl®, our approach to IP protection is fundamental to our business strategy. Understanding and awareness surrounding IP is also a key pillar of our company culture, underpinning how we work as a business.
The question for many businesses, is why the importance of company culture when it comes to IP protection?
The Sonos conundrum
IP protection and company culture has been highlighted by the recent news of Sonos’ claim against Google for patent infringement relating to their speakers.
The two companies have a collaborative relationship.
For Sonos, the collaboration went too far when in 2013, their Execs handed over the blueprints for their speakers to Google when working together to incorporate Google’s music service directly into the speakers.
The lawsuit relates to Google’s subsequent speaker products, with Sonos alleging these infringe their patents.
Striking the right balance
“Start-ups with a clear IP strategy can be more creative and agile in protecting their ideas. This ultimately gives them an intellectual property currency in technology segments.” David Newns, Prevayl Co-Founder and Strategic Advisor.
This is essential for all tech start-ups. Without it, there is no opportunity to grow, innovate and ultimately bring products to market. That’s the first step.
David got to the crux of the matter when he said: “Companies big and small need to rethink their internal culture to IP.”
This is where many businesses continue to fall down. The importance of intellectual property simply has to be ingrained into all levels of a business, from start-ups to major industry players.
Forgetting this and taking a collaborative relationship too far, clearly can have consequences.
Prevayl’s approach to IP
At Prevayl we’ve invested in our approach to IP and made it a fundamental aspect of our business strategy from the outset.
We have an in-house team that began filing patent applications from day one. This continues daily, providing our team with the safety net to protect our ideas and ensure innovation can drive our products and business forward.
We’ve also made sure that it permeates into every layer of our business. Our IP team collaborate with all departments within the company from idea stage, right through to conception and delivery. Everything is protected.
Knowledge sharing, collaboration and protection within our business ensures every team member knows the importance of IP and understands the value of their ideas.