Ever heard about Motif FoodWorks? Impossible Foods surely did. Their IP battle over the use of Impossible’s “meaty”-tasting heme proteins in plant-based meats has recently come to a close after two and a half years of costly IP litigation. It didn’t end well for Motif, as Impossible Foods will take over Motif FoodWorks’ heme-related business.
Ever heard about Teva? Mylan surely did. Their IP battle over Teva’s dosage regimen patents (e.g., 40 mg, 3-times-weekly) for Copaxone ended a few years ago. It didn’t end well for Teva, having multiple patents, including key U.S. patents, being revoked, after spending hundreds of millions in legal fees, and losing over $3 billion in revenue.
So, since others already paid for your tuition, which lessons can you learn?
First, decide if your company is a MeToo or an Innovative company. If you decide on innovation, decide if your company is a ProBono or a ForProfit company. If you decide on being innovative AND profitable, your company’s patent portfolio should be bullet-proof.
Why? because as soon as you make a name for yourself, “they” will notice, and “they” will come after you, your technologies and your patents. You can bet your “Round B” on it. Literally. So be ready, have a professional craft your portfolio, don’t cut corners, and let the quality of your patents deter the hounds.
Why is having a bullet-proof patent portfolio critical for innovative and profitable companies?
- High-profile IP battles (e.g., Motif FoodWorks vs. Impossible, Teva vs. Mylan) show how costly weak portfolios can be.
- Innovative, for-profit companies must build strong, defensible patents because competitors will challenge them.
- Cutting corners risks losing market share, revenue, and costly litigation—quality patents deter attacks.
If you are a founder and want a bullet-proof portfolio – let’s talk.
If you are an investor and want your portfolio companies to have litigation-proof patents – let’s talk too.
