85% of US patents do not turn into profitable ideas. It is not the idea/technology/product quality; instead it is that the intended decision maker does not understand the solution’s benefits. So many times, when we attempt to sell our innovation, we focus on the product. Instead, we should focus on the solutions’ benefit quality. If the decision maker does not see the application or benefits, the hard work required to attain the patent will gather dust.
IBM has topped U.S. patent recipients for 20 years straight.
- How are they doing in selling their solutions’ benefits?
- Do they have a “shotgun” or “rifle” approach to revenue-producing patents?
- Are they aggressively protecting their Intellectual Property?
Do you target your pitch to match what benefits the decision maker cares about in the solution?
