When developing a product in the medical device space, how does intellectual property (IP) protection work in the private sector versus at an academic institution, like a university? When is a patent needed and when is it not?
In this episode of the Global Medical Device Podcast Jon Speer and Etienne Nichols talk to Neil Thompson, Kevin Buckley, and Stephanie Willerth about intellectual property and why it's important to understand the difference between inventorship and ownership.
\u201cDo we keep this trade secret or do we patent it? If we\u2019re going to patent it, this better be incredibly robust and it better support some commercial embodiment, some very valuable program. Otherwise, there is no publication.\u201d Kevin Buckley
\u201cSome companies do not want their secret sauce\u2014how they\u2019re making a drug, what the drug is\u2014eventually, drugs will be disclosed and basically hidden in a patent application until they go into clinical trials. When the drug is published.\u201d Kevin Buckley
\u201cIf all you have is trade secrets and you don\u2019t have any patents, you\u2019re not going to be seen as valuable.\u201d Neil Thompson
\u201cThere\u2019s a big difference between inventorship and ownership.\u201d Kevin Buckley
\u201cIt\u2019s a lot different if you make something in your garage or if you spend five years making it in your research lab.\u201d Stephanie Willerth
Patent Cooperation Treaty (PCT)
Creative Destruction Lab (CDL)
Stephanie Willerth on LinkedIn
The Greenlight Guru True Quality Virtual Summit
Greenlight Guru YouTube Channel
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