Strategies to Develop an International Patent Portfolio
The Patent Cooperation Treaty (PCT) allows preserving international rights for most jurisdictions to delay choosing specific ones for thirty months from your earliest priority date. This strategy gives you the longest possible time to evaluate the commercial prospects of your innovation before committing large funds to the foreign patent application process.
Now, it makes sense to file for foreign patents if a market indeed has a strong enterprise value to protect in the next twenty years. Also, you have to consider your business model and see how it fits into your patent strategy. For example, we are seeing a huge explosion of innovation in AI and machine learning as of today.
If your company is dealing with AI technology and your business model is a function of the population, then China and India would be the markets to file foreign patents. Europe would be the market to file foreign patents if your business model is a function of per capita income given that European countries are relatively affluent.
Source: Triangle IP, Inc.