It can take a lot of time and money to get a product to market.
Patents which protect your innovations and place in the market can be key to you securing crucial investment to fund commercialisation of your product and future expansion.
Green Biologics is a UK company that specialises in producing widely used chemicals, such as acetone and butanol, from plant-derived sugars.
The company started small but had big ideas, including a planned expansion into the American market.
Being able to provide evidence of its unique technology through its patent portfolio was central to Green Biologics raising more than $100 million from investors to build a commercial production plant in the USA.
Chartered Patent Attorney Philip Webber and Dr Hazel Housden, Head of Intellectual Property at Green Biologics, explain the importance of patents to Green Biologics’ success.