What's a better way to allocate budgets for patent applications?

Minneapolis patent attorney Steve Lundberg, founding shareholder of Schwegman Lundberg & Woessner explains a better way to allocate spending and budgets on patent prosecution and patent applications.

Contact Steve Lundberg

Email: [email protected]

Phone: (612) 373-6902

Transcript:

The better way to address that sort of budget allocation in our estimation is that you would shoot for an average cost of office actions, but you would know statistically speaking that a number of your patent applications are simply not going to mature into coverage that’s worth the average price.

So what you would hope to do is that as you progress through prosecution you would identify the cases that are low value opportunity and you would reduce your budgets on those because your goal really there if at all is either to abandon the case or maybe get something issued just for the sake of it. And you’d increase your budgets on the cases that are strategic and therefore achieve an overall average price, but actually help participate in a process of reallocating that budget effort as opposed to just expecting that to happen automatically without your direction as the corporate client.