Patent filing by research institutes promotes their research works actively to the public domain. Since the patents can be licensed, it is therefore possible to derive financial value from them for conducting further researches. As the innovations evolving from institutes come out of strong fundamental knowledge, it is highly recommended to secure the same. Securing patent rights process should become a part of the innovation life cycle and business strategy envisaged for the innovations by the academic and research institutes.
The known factor of patent licensing may be effectively enforced by academic and research institutes for driving additional funding required for further research and development. Patents are critical in establishing a university and firm collaboration for technology transfer. Recent studies have made it clear that patenting by the academic and a research institutes is exponentially increasing.
Ultimately, it may be required to select experienced attorneys in laying a strong patent foundation. Prometheus team, a combination of attorneys and technology graduates are trained to closely work with the inventors in understanding the technology and establishing a strong patent foundation for the academic and research institutes.