The medical device industry is driven by innovation, where great ideas are developed into successful businesses and products to improve patient care and outcomes. As patent attorneys, we witness many different pathways to innovation and guide IP strategies for innovators of all types. From garage start-ups that become global industry leaders to incubators and university-funded research programs, innovation has no common starting point.

One certainty exists, though. A properly executed IP strategy, tailored to the medical device industry, is critical for protecting innovation, creating company value and ultimately supporting the commercialisation of products that will benefit patients.

The process of securing IP for a medical device can be complex and costly. It typically involves a patent attorney or agent who will conduct a search to ensure that the device is novel and non-obvious, and then draft and file a patent application. In addition, medical device companies may also seek to protect their IP through trade secrets, trademarks and copyrights.

It is important to note that IP protection is not only useful for the manufacturer of the device, but also for the inventor, as the inventor of the device can also be entitled to certain rights through the patent.

Overall, IP can play an important role in the medical device industry by protecting the rights of the inventor and manufacturer, and providing a way for them to recoup their costs and generate a profit from their innovation.

This has led to increased access to education and healthcare, more efficient business operations, and the development of new technologies and industries. Additionally, IP has also played an important role in fostering greater global collaboration and understanding.