IP strategy for a mining technology start up
The company: GroundProbe
GroundProbe supplies radar-based early warning systems to global mining and civil infrastructure industries. From its origins as a spin-off from University of Queensland research projects, it has quickly grown into a substantial business with more than 100 staff and offices in four continents.
The key to GroundProbe's success is its invention of Slope Stability Radar, which allows mines to detect significant wall failures in advance of likely collapses.
The strategy: patent
Start the process early
Chief operating officer David Noon and chief executive officer Lyle Bruce have been conscious from day one of protecting IP rights.
David Noon recalls that in the business's early days at the university there was 'a bit of a requirement' to promote research activities through publication. So as 'to not destroy the commercial value we were creating, we made a conscious decision to patent before we would publish'. They therefore started the patents application process three years before the product was really commercial.
Don't rely only on IP protection
David advises organisations to seek early and robust patent advice, but sees patents as just one part of an overall business strategy:
'We're not reliant on patents. Our strategy has been to get into the market quickly, to exceed our customers' expectations and to continue to develop the market.
Our goal isn't to go to court and recover costs or loss of profits', he says. 'Our goal is to protect the investment we've made in this field and give us the opportunity to commercialise it and provide it to industry'.
Target patent expenditure
The expense of patents and the scope of GroundProbe’s international operations have forced the company to be selective about the markets in which it applies for patents. ‘We focus on the major countries - right now we are operating in eight countries and are about to enter a ninth', David says. ‘We don’t have patents in all those countries, but in the major markets and areas where we and others may be looking to enter, we apply for patents in those jurisdictions'.
Last Updated: 13/12/2012
