Biobusiness - Introduction to valorization

Question 1

What is valorization?

Answer 1

The term itself means to give or assign a value, especially a higher value. When it comes to research results, valorisation encompasses many activities which render the research results accessible to, and usable by, society and economy.

Question 2

Choose from the following sentences if it is about valorisation

• Guest at TV talk show, interview for newspaper, public debate
• Providing healthcare
• Publication of research in scientific journal
• Press coverage
• Participating in a public-private consortium
• Educating bachelors, masters and PhD’s.

Answer 2

• Guest at TV talk show, interview for newspaper, public debate
• Press coverage
• Participating in a public-private consortium

Question 3

Name examples of other valorization activities.

Answer 3

Question 4

Explain in regard to this picture why patent is an important business tool to protect a profit stream.

Answer 4

The most important part of the picture is the moment a patent expires. It is seen that the launch of a new product generates money. However, this is mostly due to the fact that the product is patented and cannot be commercially exploited by any other companies. When the patent expires, it is seen that the revenue of the product also decreases.

Question 5

Name three potential effects of patenting an invention.

Answer 5

• Preventing others from copying
• (Multiple) licensing potential
• Attract investors

Question 6

What is a second generation patent?

Answer 6

Patent that protect not a novel invention, but an improved version of the novel invention (that has already been patented).

Question 7

What does a patent cost for 5-10 countries with a 20-year lifetime?

Answer 7

50.000-100.000 euros

Question 8

What determines the cost of a patent?

Answer 8

• Patent drafting (writing the application)
• Examination and granting fees
• Costs for office actions (e.g. responding to the examiner)
• Translation (in individual countries)
• Annual fees to maintain granted patents

Question 9

Complete the sentences

• The date the first patent application is filed is the …
• Patents are submitted as …
• Applications are … in each country or region by the patent authorities before being …
• … is possible by parties opposing.
• Entry to the … must be decided within 30 months of the priority date for PCT route.

Answer 9

• The date the first patent application is filed is the priority date.
• Patents are submitted as applications.
• Applications are examined in each country or region by the patent authorities before being granted.
• Opposition is possible by parties opposing.
• Entry to the national phase must be decided within 30 months of the priority date for PCT route.