Patent enforcement is often a big concern for a lone inventor. I often hear “Why patent if you cannot enforce it?” Patents are expensive, there is no doubt about it. If you require a patent in the UK, the USA, a few large European countries and maybe somewhere in Asia (by no means widespread global coverage) then you are looking at bills which will total well in excess of £100,000.
When the situation changes, and a business finds that suddenly its old business models no longer work, the successful ones will innovate and adapt to the situation around it. In many aspects, this is the definition of an innovative business and highlights the skillset of a successful entrepreneur from those that are less successful. When the environment changes, it closes some lucrative avenues that were open to the company, but (if you look hard enough) new ones present themselves.
I read an article a few weeks ago in The Daily Telegraph which claimed that during the lockdown patent attorneys are reporting that they have never been busier with a surge in new applications being written. I originally found this somewhat surprising, but then I thought about why this might be..
A nice little clip for all up-and-coming entrepreneurs with great advice from the one and only Gary Vaynerchuk.