It is advised that companies entering this environment with products and solutions have a coherent patent strategy in place.
Protecting your innovations related to IoT and blockchain in medical will have critical implications for the implementation of your strategies. These technologies pose unique patent challenges. To achieve enforceable patents requires considered and current drafting tactics.
The patenting exercise in these domains is important due to the expected market size of IoT and blockchain in medical. The interest in these domains is global, and therefore, the patent landscape extends, in material ways, globally. This makes the patent landscape complex and fragmented.
To avoid costly patent mistakes, a company must be aware of the patent landscape and potential infringement problems. Developing one’s own IP in these domains will likely be beneficial. Defensive patenting and IP bargaining chips may play an important role in any licensing negotiation or infringement litigation.
As a medical device company developing new solutions, IoT and blockchain must be important components of your strategic planning. Patent implications should be considered early in your planning.