Three Observations About Medical Patents

Medical Patents Broker Inc.
By Kenneth Pearce, President

There are comments and then there are observations. Medical inventions just keep rolling on. Some believe some parts of the pipeline to the patient are much easier than others.

Everybody who’s been around medical inventions knows the day-to-day. Some days are better than others. Weekends are downtime for some, while weekends are just a time to get more done for others.

Emotions can range from zero to one hundred in a millisecond—maybe a picosecond. A smile about the first taste of the company’s pizza can turn to anger about the machine being out of cola, ruining the slice of free pizza.

Stresses are everywhere. Why me? Of course, why not?

1. The Spark! It’s Easy! Right?

Some people argue that the “idea” is the easiest part. Everybody has ideas! Right?

A patent attorney once told me, “If you have an idea about an invention, you better do something with it, or some of the billions on the planet will.” I'm not sure what kind of statistics that was, but there is some truth to it.

The reality I have witnessed is that the inventor must live through numerous life circumstances molding that person’s being to create the invention. Sometimes the molding can last from a few days to many years. Life’s troubles are usually a part of the creative puzzle.

From what I have witnessed, it seems the inspiration comes from a combination of wisdom and tragedy—and that tragedy is far removed from being easy.

2. The Medical Patent is Easy! It Gives Legal Rights and Control. Right?

Just because you invented a medical device does not mean that it’s patentable. An operating room sink could be patentable, but if the differences are minimal from existing sinks, will the hospital actually buy it?

I once heard a patent attorney declare, “I can write an application for a ‘kitchen sink,’ and it will grant.” Adding bling to a sink can cause a sink patent to grant, but does that truly benefit the patient or the owner?

Yes, patents establish legal boundaries in the intangible universe of intellectual property. Patent attorneys tell me that the broader the metes and bounds of the claims, the greater the potential value. But with nothing else than the medical patent itself, there is only potential value—not actual value. Converting patent claims into cash (or its equivalent) is certainly not easy!

3. I Am In It To Win It! And I will! Right?

From an early age, our governments market the idea: “This is America and, with persistence, you will eventually achieve your dream.” The media broadcasts this news constantly. Sometimes miracles do happen. Other times, the dream dies—and sometimes it kills the person too.

Personally, I really wanted to play college basketball on a scholarship. When I was the last one cut from my high school basketball team, I was devastated for a time. My basketball skills were just as good as the other point guard's, but he was two inches taller. The coach made the right decision, but correct actions can cut into one’s soul. In basketball, when the skills are the same and one is two inches taller, take the taller. It’s the same principle for medical patents.

Only a few medical patents make the big time. For those who spent years and did not meet the mark, it is far from easy! Only a very few ever try it again.

The President’s Viewpoint

I am convinced there is absolutely nothing easy about the medical patents business.

Blessed are those who have the stamina to succeed in the dream of improving patients’ treatments. To survive and thrive here, we really need a calling for this business.