By Richard Lebovitz
Patents are the intellectual property currency of the world of commerce. They are used to protect competitors from copying a patented product, and as a source of revenue when products are licensed. Obtaining patent rights is therefore an important ingredient for financial success. However, at the early stage of a technology's development, its commercial value may be uncertain, making its developers reluctant to sink resources into patent preparation which can be costly and time-consuming. Financing is a deterrent for academic institutions and start-up companies that have limited budgets, especially when financial support is primarily from federal ...