For SaaS companies that base their business on proprietary software, patents are an invaluable asset that will separate them from their competitors and provide legal protections from infringement and misappropriation.
Once a patent is issued for the software-implemented invention, patent owners enjoy:
- The right to exclude others from making or using the patented software
- The right to sue an individual or entity that infringes on the patent.
- The right to license the use, manufacture, reproduction, etc. of the patented software.
- The right to sell and/or assign the patent to someone else
A great example showing the importance of patents for business’ sake is in the acquisition of companies. When big companies acquire smaller ones, they don’t just get their clients and general streams of revenue, they get their patents.
Prior to the acquisition, Google owned only about 2,000 patents. The new additions to its patent portfolio massively strengthened Google’s position in the marketplace and in the inevitable future legal battles against its competitors. Protecting your software with a patent, to say the least, is absolutely necessary, not only to retain your due credit for your intellectual property, but to be able to practice more business with your software without being infringed upon and keeping a leg up on your competition.
Should You Patent Your SaaS?
Software permeates nearly every aspect of our modern lives. Mobile devices are getting smarter, countless consumer electronic devices are capable of connecting to the internet, and artificial intelligence advances by leaps and bounds every day-and all of this is possible because of software.
Companies that are in the business of software understand just how valuable a business asset proprietary software can be. The right software code can give a company a competitive advantage in the marketplace. Something so valuable should be protected from theft, copying, and imitation.
Copyright protection alone may not be enough for your unique software code. (Ask Oracle who recently lost to Google when the US Supreme Court decided on April 5, 2021 that Google’s copying of 11,500 lines of Oracle’s Java program code was “fair use” under US copyright laws!)
A savvy technology company or entrepreneur should indeed consider building an “IP castle” with a solid patent portfolio for its SaaS.
A fixed-fee approach to SaaS patent protection
We pursue every avenue to reduce costs for our clients. To ensure that objectives are clearly defined and budgets are met we offer the majority of our services at a cost-effective fixed fee, including:
- Preparing, filing, and prosecuting patent applications at the US patent office (USPTO)
- Offering opinions on patentability, validity, infringement, and freedom to use
- Enforcing patent rights in U.S. district courts and on appeal
- Addressing USPTO post issuance proceedings
To add further value, we help our clients to identify new market opportunities and strategic partners.
We encourage you to request our schedule of typical patent fees. Call us today at (954) 951-0154 to request more information regarding our services.