THE NEW BUSINESS OF PATENT ANNUITIES

Above: Lincoln’s Inn as seen from Lincoln’s Inn Fields, London.

Up for today is my Harvard Business School (“the charm school on the Charles”) case study about the industry my Dad created — international patent renewals!

As the 1960s progressed, Dad’s new business quickly subsumed his “normal” patent practice. He did keep working for some select inventors who intrigued him but spent most of his time promoting his new renewal business as a modern, computerized clerical operation.

Corporate patent owners were delighted and sought him out.  On the other hand, foreign patent law firms worldwide were scandalized! The renewal work for them was heretofore easy money; it was a simple annual reminder operation that brought in huge fees for little work. They accused Dad of skimming the cream off their businesses. Many fought back, in some cases by petitioning their local patent offices NOT to accept such payment schedules sent in from foreign offices in New York. However, some savvy patent law offices quietly became clients, preferring to take advantage of the lower fees and passing them along to their clients to curry favor.

THE NEW BUSINESS OF PATENT ANNUITIES

Above: Lincoln’s Inn as seen from Lincoln’s Inn Fields, London.

Up for today is my Harvard Business School (“the charm school on the Charles”) case study about the industry my Dad created — international patent renewals!

As the 1960s progressed, Dad’s new business quickly subsumed his “normal” patent practice. He did keep working for some select inventors who intrigued him but spent most of his time promoting his new renewal business as a modern, computerized clerical operation.

Corporate patent owners were delighted and sought him out.  On the other hand, foreign patent law firms worldwide were scandalized! The renewal work for them was heretofore easy money; it was a simple annual reminder operation that brought in huge fees for little work. They accused Dad of skimming the cream off their businesses. Many fought back, in some cases by petitioning their local patent offices NOT to accept such payment schedules sent in from foreign offices in New York. However, some savvy patent law offices quietly became clients, preferring to take advantage of the lower fees and passing them along to their clients to curry favor.