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ARTICLE · 23 OCTOBER 2012

The Value Proposition For Canadian Patents

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You have invested a significant amount of time and money to develop a new product or service.

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Assess Commercial Viability First

You have invested a significant amount of time and money to develop a new product or service. Apart from the essential requirements for patentability (patentable subject matter, novelty, non-obviousness, and utility), the primary determinant of whether to file a patent application is whether you believe your new product or service is likely to be commercially viable.

If your product or service is commercially viable, patents can generate substantial income which will allow you to recoup your investment in research and development as well as profit financially from your invention. You can profit from patents by employing monopoly pricing on your products and services which embody the patent by virtue of the right to exclude others from the market, or, alternatively, patents can be sold or licensed to others to use for a profit.1 Patents may also be used as assets to secure funding.

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