Obtaining patent protection is the culmination of hard work and perseverance—from the engineers/inventors/R&D team who develop the invention to company leadership who make the financial investment to the attorneys who take the idea through the patent process. The result is an intangible asset that provides the patent owner with an advantage over the competition and one that should be jealously guarded.
Ideas that lead to groundbreaking innovations are remembered for eternity. However, the difference between protecting and losing those ideas sometimes come down to a single moment in time. For Alexander Graham Bell and Elisha Gray it was moment that shaped global communications forever.
Italy-1421. An Italian inventor is about to make patent history. Architect and engineer Filippo Brunelleschi was granted a patent on the manufacturing of a barge with a hoisting gear—a device that streamlined the transportation of marble. The patent resulted in Brunelleschi acquiring a three-year monopoly on the manufacturing and sales of the new barge. While monopolies are only celebrated today when you secure Park Place and Boardwalk, Brunelleschi revolutionized national and global business as his idea would influence society for the next 600 years—patenting your hard work and creative ideas is a profitable business decision.
The health care industry is moving forward so quickly it is hard to keep up, but companies like CVRx make us stop for a moment and tip our caps. Medical Device and Diagnostic Industry (MDDI), an online and print resource for original medical equipment manufacturing, honors a company every year as the Medtech Company of the Year. While CVRx did not win the editor’s choice crown, the readers picked CVRx for the prestigious title.
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