Q&A with Paul Cozens from Mathys & Squire: IP protection and patent insurance
We hosted a Q&A with Paul Cozens, senior partner at Mathys & Squire and explored the business of IP protection and patent insurance. As an E2E premium member, you are entitled to one free consultation from Mathys & Squire, join us today and find out more.
Q1: What are the differences between a patent, trademark and copyright?
A: Each of these rights protects a different aspect of intellectual property: a patent protects a technical idea behind an innovation, a trademark protects a symbol that can distinguish a given business from others (e.g. branding etc.), and copyright protects creative work (an ‘expression of an idea’ in legal speak). Two other key differences are that patents and trademarks are registered rights (and must be applied for), and they afford protection for independent creation and use of the patented idea or trademarked symbol. In contrast, copyright is typically unregistered (i.e. exists automatically), and copying must be proved to enforce the right.
Q2: What criteria does my company need to fulfil to obtain a patent?
A: In the UK and most other territories, the three essential requirements to obtain a patent for an invention are that the invention must be: new, i.e. it must be different to what has been done before, inventive, i.e. different in ways that would not be obvious to a typical skilled person in the relevant field, and technical, i.e. address a technical problem, as opposed to a strictly business problem.
Q3: How does patent insurance work?
A: It works much like any other insurance – businesses can buy patents or additional IP insurance to protect themselves against risks associated with theirs and others’ patents. Patent insurance can cover a range of patenting risks – for example, the legal costs of enforcing a patent, or defending a patent infringement claim by a third party (even including the damages that may be payable if you lost), or lost revenue as a result of losing a patent.
Q4: Does patent insurance apply to blockchain technology?
A: Of course, not all patent insurance providers may be willing to provide insurance in this area which may be viewed as higher risk, but in principle, there is no reason why businesses operating in the blockchain area could not obtain patent insurance. Indeed, getting such insurance and, more importantly, filing their patent applications would seem wise for such businesses, not least given the recently observed increase in blockchain patent filings.
Q5: Does a patent protect founders only in the UK, or can it be international in scope?
A: Each given patent in itself is a territorial right – e.g. a UK patent protects the patented invention in the UK only. However, there are efficient ways to cover multiple countries using one patent application, for instance, a European patent application, and file a series of corresponding patent applications in numerous countries worldwide to protect the invention globally. Keep in mind that an International (PCT) patent application can be later converted into multiple territorial applications).
Q6: When is the best time to legally protect your intangible assets and to patent your invention? Does a business in its early stages need a patent lawyer?
A: The short answer is – as early as possible! Filing a patent application in the early stages of a business can significantly improve the scope of protection that can be obtained. A patent application must be filed before the invention is publicly disclosed. So, even in its early stages, a business can significantly benefit from seeking advice from a patent attorney, and there are ways to spread out the costs over time so that the patenting expenditure does not inhibit business growth.