The owners of RAM USA, a roof and envelope consulting and engineering services firm, initially became acquainted with Sisson IPR Law at a Medina County Economic Development Corporation (MCEDC) meeting. RAM USA understood the value of intellectual property protection to demonstrate and possibly increase the value of its business, but needed guidance on where to start. The main areas that required protection were not only its new and existing technologies, but also RAM’s branding, including the company’s logo.
Critical to increasing the business value was obtaining intellectual protection for the company’s latest generation of its core technology: an inventive system for infrared evaluation of the integrity and performance of commercial roofs.
One of the first recommendations of Sisson IPR Law was whether to protect these technologies as a trade secret or with a patent. Following Sisson IPR Law’s advice, RAM USA decided that a patent filing strategy suited their needs best.
Flexibility was a critical aspect of the patent filing strategy. In order to increase the company’s value, RAM chose to keep its options open to secure its intellectual property rights in any country. This broad asset approach made the RAM technology valuable beyond the confines of the U.S. border, but also to the rest of the world.
The patent application on the latest generation of RAM USA’s core infrared technology, drafted and filed by Sisson IPR Law, obtained a highly positive search report from the Korean Patent Office. These search report results provided a positive view of the patentability of RAM USA’s technology.
A highly positive search report increases the company’s value, putting it in a stronger position as a technological leader in the market, and market innovator. This is especially important when the company is looking to borrow money or considers an equity event such as additional investors or even a sale.
Speeding Along the Patent Prosecution Highway
The process of obtaining a patent in the United States can be a long road. It can take up to five years or more from the initial filing to a patent grant. However, with the positive search report, the process can be considerably shortened by taking advantage of the USPTO’s Patent Prosecution Highway program.
Sisson IPR Law filed RAM USA’s U.S. patent application in May of 2020 and the patent was granted on December 22, 2020—shortening a five-year process to just seven months. This enabled RAM USA to validate the value of their infrared technology ahead of the traditional timeframe in addition to offering the protection afforded by the patent. Meanwhile, RAM USA continues to maintain flexibility for their international patent rights by way of the WIPO patent application.
The early patent grant clearly establishes RAM USA as highly innovative and on the cutting edge of this type of technology. The patent grant deters competitors from entering this space, and precludes direct copying, because replicating the technology risks liability of infringement. This deterrent and preclusion of competitors increases the value of the firm to its shareholders, future lenders and investors.
The RAM USA example highlights the strategic use of intellectual property to build business value. Companies can employ this and similar strategies for the benefit of succession planning, when trying to attract investors or attempting to divest a business unit, as a few examples.
Sisson IPR Law considers itself different from many other firms because it brings a business approach to protecting and promoting the monetization of intellectual property assets, while supplying its services on a flat-fee basis.
Flat fee philosophy
In addition to its intensive background focused on intellectual property, Sisson IPR Law offers another unique benefit to its clients via its flat-fee philosophy. The amount of the flat fee is mutually agreed upon by both parties and covers the majority of the types of services provided by the firm.
It also enables the attorneys at Sisson IPR Law to become proactive members of the business team. A proactive approach frees up clients to involve the legal team early in the process of business development to forestall potential legal issues, supplying more options and resulting in fewer costs than a reactive approach after a legal issue has grown or developed unnecessarily.
The End Game
If you own a viable business, there is intellectual property that needs protection. This protection, when done right, protects your competitive advantage and advances your business. Are you satisfied with your IP attorney? Give us a call at (330) 598-1799 to learn more about what we do and how we do it.