IP Services Overview
You need prompt, efficient and skillful intellectual property services for your company's innovations.
Corridor Law Group stands ready to provide them.
Headquartered on Chicago's Research and Technology Corridor, veteran attorneys combine decades of legal experience to deliver powerful, value-oriented intellectual property services to technology companies and startups. Corridor Law puts a track record of efficiency and successful outcomes to work on your most important technology projects. We offer flexible client billing models, including capped-fee project billing, fixed monthly retainer, company stock in lieu of cash payment, and traditional hourly billing. Our billing rates are 25% below the top Chicago intellectual property firms and 50% below the top national firms.
IP Law for Technology Companies
Getting technology to market requires speed and skill. It's not enough to have a technically sound innovation
. You need a path to commercialization that's fast, affordable and has the highest probability of success. CorridorLaw understands that putting intellectual property
protection into place for your innovations is just one step on the path toward commercial success. Our value-oriented approach relieves you from having to slog through the complexities of intellectual property
law so you can focus on what's most important to your business: making money from your innovations
Every Tuesday the U.S. Patent Office issues about 3000 patents. Only about 2-3% of them will cover something in actual commercial use. The remaining 2900 patents are stillborn, considered promising at the time they were filed, but 3 years later lacking commercial viability. At a time when every dollar counts, companies just can’t go through a process that results in such a low fraction of meaningful patents. CorridorLaw’s attorneys have a track record for obtaining successful patents which beats the average by an order of magnitude.
IP Law for Startups
Technology startups face a frustrating dilemma: At a time when they can least afford them, tech startups need the best intellectual property
services. In the first two years of a company’s existence, the primary purpose of getting patents
should be to protect a company’s fundamental intellectual assets
. In those initial years, patents
attract early seed investors and top employees who want confirmation of the company’s intellectual
and technical potential.
In years 2-5, as the company’s capital needs increase, seed investors give way to private investors who take a greater economic stake in the company. Even more than seed investors, private investors demand patent protection for the intellectualassets in which they have invested. At this time, a company may also be courting potential strategic partners, each of which will consider whether it can circumvent the company’s patents before deciding to partner with it. CorridorLaw is unique in its depth of experience in working with tech startups to secure intellectual property protection that has led to their growth from just a few employees to several hundred, and has led them into strategic partnerships with several Fortune 100 companies.
The main business objective for most companies is to develop and market products with features that differentiate them from, and make them more attractive than, competing products. Patents
further that objective by giving a company the exclusive right to make, use, offer, and/or sell products that have those patented features. Patents
thereby deprive potential competitors of the ability to offer those differentiated products, and give the company that owns those patents
the ability to enhance its profits as the sole supplier of the products.
Patents are also a vehicle by which a company can license out its technology to others in return for money or other compensation. Licensed patents further a company’s business objectives even when the technology they cover is not critical to the company’s commercial product line. CorridorLaw’s patents have provided the foundation for many lucrative licensing deals.
As a technology company matures, and commercial sales of products covered by its patents become substantial, a company can obtain patents with a view toward actually asserting them against competing infringers. Patents obtained by CorridorLaw’s attorneys have consistently held up to the scrutiny of litigation, and have become their clients’ major corporate assets.
Foreign Patent Procurement
When an innovation is identified as worthy of patenting, then the question becomes whether and where foreign patents should be secured. Subsidiary but equally important questions are when those foreign patents should be initiated and whether it’s possible to defer the costs until foreign patenting really looks worthwhile. The best way to answer these questions is by using a selective approach to foreign patenting, making use of grace periods afforded by international treaties and local laws, to ensure that the foreign patents you pursue do wind up covering commercially important innovations.
The grace periods afforded by treaties and local laws allow foreign patenting decisions to be made based on the most current information and, more importantly, allow foreign patent costs to be deferred. Using a selective approach, patents secured in just one or two countries can dominate a company’s important regional market. CorridorLaw’s attorneys have deep knowledge and experience in obtaining foreign patenting protection that’s tailored to your company’s business objectives.
- For a pioneering company in the development of automotive fuel cells, a CorridorLaw attorney secured patents the president of a major auto manufacturer, in making a major investment in the company, said made up 90% of company’s value, worth $8 billion at the time.
- For a national high-energy physics laboratory, a CorridorLaw attorney designed and put into place the laboratory’s first patenting and technology transfer program for innovations having commercial uses outside the laboratory. The program is still in place after more than 25 years.
- For 3-time World Series winning baseball team owner Charles O. Finley, a CorridorLaw attorney secured a patent covering a football with a stripe on it for enhanced visibility. The time from filing to issuance of the patent was just 111 days.
- For the founder of a technology company, a CorridorLaw attorney obtained a patent mentioned in the tribute by a family member that described his final moments: “I told him it was okay, that he could go, that I would be okay. I told him that his kids would be okay. It still felt like something was missing. Then I told him that his Patent would be okay and that I would watch over his company and that I would be okay. Minutes later he opened his eyes, took a breath, exhaled and left this earth to a higher place.”
- For several major film stars and recording artists, a CorridorLaw attorney filed patent applications for innovations developed during the making of film productions and studio recordings.