Profiles in Innovation
Entrepreneurs on the Cutting Edge of Technology
Premitech |
Key Facts:
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| “The costs of obtaining a patent were small in comparison to the money we raised from investors interested in our patented technology”” |
Jan Ishøj Nielsen
Denmark
What if you never had to call the computer help desk again … because the computer called for you?
My company, PremiTech, created software that notifies your company’s IT staff about computer-related problems before you even notice, let alone have a chance to complain.
Our Performance Guard™ software monitors the performance of PCs, servers, and networks throughout your organization in order to identify potential problems before they affect your computer. It provides IT managers with an analysis of underlying performance issues and will proactively make configuration changes to prevent them. Using Performance Guard, companies across the world are increasing productivity, decreasing their IT budgets, and ensuring happier, less-stressed employees.
Patents Give me Credibility with Business Partners
We are a small firm, but our business model is focused on inventing groundbreaking new technology, and working closely with large companies to bring it to market through their existing global networks.
Patents allow us to collaborate with large firms while still protecting our inventions. Our OEM companies, such as Fujitsa Invia and IBM, as well as other business partners feel more secure working with us. And it works the other way around, too — I feel more secure knowing our big partners can’t just imitate our innovations.
Patents are an Asset When Pitching My Company to Potential Investors
It is always my experience that having patent protection makes a difference with investors and lenders. Showcasing a patented product is a big eye-opener to potential investors with whom we interact. Software companies invest significant resources into researching and developing their innovative products, but the nature of software is that it can be copied and reverse engineered. Investors know that patent protection can help innovators earn a return on the large initial investment it takes to create new software solutions.
Lessons Learned
Our software is designed to increase the performance of information flow. Our patent protection program achieves the same objective. Patents allow us to feel secure when sharing technical information with potential business partners. In addition, discussions with potential investors and lenders involve more information sharing with patent protection than would be the case had we only relied upon copyright or trade secrets to protect our intellectual property.
Patent filing and attorney’s fees were a minimal part of the total software development costs and worth every penny. Since acquiring its patent, PremiTech’s revenue growth has increased between 45 and 300% per year. The costs of obtaining a patent were insignificant in comparison to the money we raised from investors interested in our patented technology and the contracts we secured with large OEMs.
About Profiles in Innovation and ACT
The Profiles in Innovation project is designed to highlight entrepreneurs who are driving technological innovation around the world and the critical role that patents and IP play in their success. While large multinationals often get the credit, small businesses are at the center of the innovation economy. For these small innovators, patents are critical to their ability to protect their innovations while building partnerships and raising capital.
The Association for Competitive Technology (ACT) is an international trade association for the information technology industry that is dedicated to protecting small business innovation. ACT has more than 3,000 member companies around the world, most of which are small and mid-size technology firms.
Tags: Europe
