When it comes to achieving success in the competitive landscape of sports analytics, Sportlogiq, a Montreal-based company co-founded by Olympic athlete Craig Buntin and intelligent systems creator Mehrsan Javan, stands as a shining example. With an impressive portfolio of 180 registered patents and publications, Sportlogiq has emerged as a leading AI-powered sports analytics company in North America. Its advanced software tracks players on the field, court or ice, and its machine intelligence techniques capture insightful data to help teams better understand the game.
From the onset, Craig conducted thorough research on the latest trends, funding opportunities and intellectual property (IP) protection in the sports analytics industry. When he and his co-founder recognized the potential of their early-stage technology, safeguarding it became a top priority. To do so, they delved into the study of patents and patent licensing and along the way, they discovered that they would need a patent agent. All of these discoveries proved to be highly rewarding in practice, and as a result, IP makes up a core aspect of Sportlogiq's overall business strategy.
Building an IP portfolio: Protecting your IP strategically
The key to Sportlogiq's success was its focus on protecting and commercializing its expert technology through the patenting process. On developing and implementing an IP strategy, Craig commented, "It's a combination of tactical steps and strategy." Here's a closer look at Sportlogiq's approach:
Identifying IP value
Sportlogiq distinguishes between technologies that directly require formal IP protection and those with indirect value. This discernment guides its decision-making process on which aspects to protect.
The company carefully considers the timing and necessity of patenting. In some cases, encouraging researchers to publish what can't or won't be patented for strategic reasons may be more advantageous and attract potential investors, for example.
Involvement of IP professionals
Early engagement with IP professionals is crucial. They provide valuable insights on filing strategies, creating products and other commercial activities to ensure a robust IP strategy.
The patenting process
Sportlogiq's patent application process typically includes provisional filing in the U.S., followed by international filing through the Patent Cooperation Treaty (PCT), and eventually, filing in individual regions (national phase of the PCT). This strategy provides the ideal landscape for its technology to thrive.
Budgeting for a patent
Budget considerations play a significant role, especially for new companies. According to Craig, the budgeting process depends on the company's developmental phase, access to capital and the technology's industry impact. Brett Slaney, a licensed patent agent, assisted Sportlogiq in determining the necessity of IP protection and associated costs.
Sportlogiq's remarkable success story exemplifies the value of securing IP rights early in the business planning process. Its strategic approach to IP has not only protected its innovations but also propelled it to the forefront of the sports analytics industry.
To learn more about Sportlogiq's story, tune into IP Insights: data and computing, where Craig and Sportlogiq's IP agent, Brett Slaney, discuss the importance of IP protection for businesses.
If you're inspired by Sportlogiq's journey and want to explore more success stories like this, consider subscribing to the Canadian Intellectual Property Office (CIPO)'s IP for Business newsletter. Stay tuned for upcoming webinars and share this post on social media to inspire others in their IP endeavours.
Your journey to success in the world of IP awaits!
- CIPO offers educational information on managing IP through strategic planning, acquiring IP rights within and outside Canada
- To find a licensed agent and an IP professional, you can visit:
- The Business Development Bank of Canada's IP-Backed Financing program provides funding and guidance to growing companies, like Sportlogiq, with registered IP portfolios, commercialized offerings and global ambitions
- The National Research Council's Industrial Research Assistance Program also provides advice, connections and funding to foster innovation and bring ideas to market