With recognition that VAST’s technology will be utilized globally, the company has implemented an international intellectual property (IP) strategy by filing many of these patents in over 20 strategically selected countries. VAST has filed 130+ regular patent applications. Of these, 41 have been issued and with the remaining in the ‘prosecution’ phase; that is, are still being processed and debated with that country’s patent authorities. More patent applications are now being written, many of which will be selected for filing as regular patent applications in the United States and other countries.
VAST’s investment in its IP is designed to build toward a critical mass of patent protection for its technology and has become one of the company’s central tasks, serving as the foundation upon which a profitable enterprise can be built.
Because VAST has chosen an IP research and development business model for its technology, there is a continual emphasis on generating novel ideas that can be applied to other application domains. VAST’s marketing and engineering staff evaluate the probability of success for new ideas in three major areas.
- Intellectual Property, probability of novelty and unobviousness
- Technological Feasibility
- Commercial Viability
Where VAST sees opportunities for its technology to serve as alternative means of solving existing problems in a potential market, and where financial feasibility exists to market its technology to that market, the IP team will refine the technology to be legally protected and licensed to OEM’s. It is the expectation that VAST will grow a more and more valuable patent portfolio with licensing fees and royalties for these patented ideas providing an income stream to investors.