“We’re problem solvers,” said Joubert who works closely with Graff at MLT Aikins and recently co-wrote part one of a blog series on IP licensing.
“We want to work with our clients to identify the issues and the risks … and then come up with a solution that’s practical and right-sized for the organization,” he said.
The panel discussion centred around IP and patents, but Graff and Joubert emphasized that patents are just one tool in an innovator’s toolkit.
So how important are patents in the success of digital agriculture technology?
“Patents do play an important role,” said Graff. “They show the market that you’ve got something novel, that you’ve invested in your asset and that you’ve taken steps to protect it. And this drives investment, but there are other ways to go about this.”
Other tools include copyright, trademarks, industrial designs, trade secrets, and contracts, to name a few.
Patent protection may not always be available. To qualify for patent protection, an invention must be (i) of a patentable subject matter, (ii) novel, (iii) useful and (iv) non-obvious, as set out in legislation and regulations. Once in place, a patent in Canada gives the inventor a 20-year monopoly, but this is jurisdiction specific.
“A Canadian patent protects your invention, and only that invention, in Canada. It does not protect you in the United States or Europe, for example. You have to go and file a patent in each of those jurisdictions,” explains Joubert.
“It’s a useful tool but it’s not the only tool that can be used to protect an invention,” he said.
While IP ownership can allow companies to more easily scale their IP, and is important for organizations looking for investment or an exit, Joubert points out that ownership is not the only solution.
“There are so many different ways that you can commercialize IP beyond just ownership,” said Joubert, pointing to royalty arrangements based on a licensing agreement as one example.
Joubert says it’s important to “build walls around the fortress to make sure that, if we’re going to stick with ownership, we well and truly own the thing, and that we protect it from whoever else may want access to it.”
Click here to see more...