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The Monetizing Patent’s DNA: How to identify and develop the monetizing patents
1. The Monetizing Patent’s DNA: How to identify and develop the monetizing patents
On April 7, 2015, the USPTO issued U.S. Patent No. 9,000,000. Even if there were so many patents that were issued up to now,
however, the number of patents that were commercially exploited and monetized successfully was very small. This is similar to the
situation that, even if there were so many innovators and entrepreneurs, only small numbers achieved commercial success from their
ideas.
In “The Innovator's DNA”, the authors identified the code of successful innovators that distinguishes them from others based on the
case study of well known successful innovators such as Steve Jobses and Jeff Bezoses. The key lesson from the research of the
innovator’s DNA was that the successful innovators’ DNA is not simply genetic traits endowed, but that they can be developed. Then,
by the analogy, one can ask similar questions for patent: What make the monetizing patents different?; Can we find the code of the
monetizing patents?; Can we identify and develop the monetizing patents?
Monetizing patents protect the market for commercially successful products/services from competitors. Monetizing patents can be
exploited as financial/investment assets or through licensing to other parties for additional cash flow. Followings are the monetizing
patent’s DNA uncovered from the case study of carefully selected monetizing patents through the integrated technology, legal and
business analysis.
• Monetizing patents solve the right technological problem: the right technological problem is a problem in great needs of
improved/innovative solution; the right technological problem is recognized well in an industry; the right technological
problem leads to a solution that has great business impacts; the solution of the right technological problem follows the correct
evolutionally pass for emerging technology.