As technology has become more advanced and entrenched in our daily lives, many companies have modified their approach to their intellectual property portfolios to adapt to changing technologies.
FaegreBD patent attorney Doug Yerkeson commented in Indiana Lawyer that in early April 2015, the U.S. Patent Office hit a milestone when it issued Patent No. 9,000,000. He said that even during the recession patent filings remained brisk.
Yerkeson also said that the surge in patent filings indicates that businesses are beginning to view their intellectual property as a competitive advantage in the overall marketplace. He said that companies would rather set their products apart through innovation rather than competing solely on pricing.