Tech startup PatentStatus counting victories

March 6, 2013
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It seems fitting that the America Invents Act spurred Indianapolis product-development pro James Burnes to conjure up a business that helps companies manage their intellectual property portfolios online.

PatentStatus launched in January 2012—mere months after President Obama signed the legislation updating U.S. patent law. Among its changes: a provision allowing patent holders to use a web address to mark protected products. Traditionally, individual patent numbers have been imprinted on the products themselves.

Burnes recognized the opportunity and enlisted the help of a development team from local software firm WDDinc. They built an online platform capable of handling millions of patent records, and Burnes set out to sell the idea to patent attorneys.

He scored an early win, prevailing in a startup competition with a juicy prize: tickets to watch the 2012 Super Bowl with Startup America CEO Scott Case. Burnes got feedback on his idea from Case (who was Priceline.com’s founding chief technology officer) and access to hundreds of decision makers in Indianapolis for the big game.

A year later, PatentStatus is still counting victories—the most recent coming March 1, when the company was named the Entrepreneurship Advancement Center’s Top Emerging Business for 2013. The Fishers-based not-for-profit supports innovation.

Burnes is just as proud of another achievement: The company is making money.

“We are cash-flow positive,” he said. “There’s still a lot of room to grow, but that’s huge.”

PatentStatus has landed a number of out-of-state clients in the consumer products, life sciences and medical-device industries, he said. It also has a robust pipeline of prospects including global brands such as Briggs & Stratton, Kimberly Clark and Caterpillar.

While virtual patent marking remains the firm’s primary service, Burnes has found plenty of demand for its patent-tracking platform, which helps companies understand how they are using existing patents.

“That’s the icing on the cake,” Burnes said.

Burnes financed the startup himself, but took Case’s advice and found investors to help grow the business. He declined to share specifics, saying only that he raised “more than six figures” from a number of private investors.

“I feel good about the future,” he said.

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  1. First, the Athenaeum is going to have to get past the hurdle with the Lockerbie residents and the agreement that the parcel would be residential. Second, and in my opinion, this prime piece of property should include parking, PLUS, a black box theater(s), some market rate and affordable artist housing and a plan to renovate and reconfigure the second story theater. I would negotiate to add the DeHaan property surface parking lot into the development mix, place a one story surface parking garage on the DeHaan lot on the street level (for the Dehaan tenants use during the daytime) and add a second story to the garage that would become an addition to the current second story theater and then change the direction of the theater by moving the stage across the alley and on top of the DeHaan lot parking. You can add all the stage elements that are currently missing from the Athenaeum stage to make it more attractive for use by Ballet, Opera and traveling productions. Plus, the theater changes would probably help solve some of the soundproofing issues. Alas,it does not seem to be a part of the strategic plan to conduct a study to determine best use of the property. Seems like the current plan is a quick and easy move that ignores the property best use/potential and any strategic property planning for the effect on future generations.

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  3. Accoriding to their website there is no deadline to the Do Not Call list. What is this article referring to??

  4. On what planet are they entitled to this largesse from the stockholders? These people make multi-million dollar salaries: Pay for your own personal travel.

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