Each year, the United States Patent and Trademark Office, or USPTO issue hundreds of thousands of patents. In 2017, technology titan IBM once again topped the list of patents, while social media giant Facebook broke into the top 50. IBM has dominated the USPTO’s annual ranking and at the moment has more patents than Google, Oracle, Intel, Hewlett-Packard, Amazon, and Accenture combined.
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| Image source: newsweek.com |
Anyone who owns or manages technology firms know how important patents are to the overall growth of the company. A huge amount of lawsuits filed in courts all over the country involve patent infringement. In fact, a patent is seen as a vital part in many of a company’s sales and operations.
Patent violation lawsuits can go as high as a billion dollars, as the world has seen back in 2012 when Apple filed a case against Samsung. The patent infringement revolved around mobile devices, and while financially, Samsung survived the lawsuit, the South Korean tech empire and other mobile phone manufacturers around the world needed to alter their devices to avoid another billion-dollar case.
And although patents are filed in almost every industry in the U.S., the spotlight is mostly on technology since it affects other industries in more ways than one.
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| Image source: itpro.co.uk |
Dr. Ron Blum is the inventor or co-inventor of over 500 patents and patent applications worldwide. For more updates on Ron and his work, subscribe to this Twitter page.
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