The importance and value of software patents continues to increase. There are several factors that weigh heavily in a company’s decision to go forward with patenting.
1) Patents provide a clear signal that the company has a unique product.
2) The current market for software is huge — proprietary positions excite investors.
3) Recently, very large damage awards have been seen in software patent cases.
4) Often companies with little or no patent portfolio are targeted for infringement suits.
5) Software patents are not only for “software companies” — software/firmware is an integral part of most new technologies.
6) The software industry is maturing — this means that patented technology may retain value for a longer time.
7) Small companies can obtain patents — and level the playing field.