By Bryan Dempsey, PXGEO
The global energy sector is at a pivotal juncture as it balances the accelerating energy transition, economic challenges and an unpredictable geopolitical landscape. However, amid so much volatility, one thing remains constant: the need for innovation.
In the seismic sector, the advancement of technology has never been more vital as operators aim to gain a deeper understanding of new and existing reservoirs to support global energy demand. The companies that push boundaries to improve safety, efficiency and quality ultimately shape the future of offshore exploration and energy production. However, behind every new invention is an often-overlooked enabler—the legal framework that protects, guides and monetizes innovation.
A pragmatic and sustainable approach to developing new technology is key. It’s not just about ideas; it’s about protecting value, balancing cost and ensuring technologies can survive the scrutiny of a highly competitive market. In practice, this means engaging early. Legal teams ask the fundamental questions: What is being developed? Who is driving it? Has it already been developed elsewhere? These answers inform whether the business invests in the latest innovation and protects the idea.
An innovation protection program is key. Sometimes it shows that several competitors have already attempted a similar concept. In that case, there’s little point in reinventing the wheel, unless you can improve it. This is where an intellectual property (IP) strategy is crucial. Filing patents can exclude competitors from entering a region, or they can be licensed, creating royalties and fresh income. At the same time, filing defines competitive advantage in a way that customers and investors understand. It communicates to clients that we are finding more effective solutions to solve new challenges.
Investors place tangible value on IP portfolios. A company with 50 patents in a key technological area is not only demonstrating technical leadership but also showing a strategy for long-term market positioning and a technology moat, keeping competitors at bay. Investors know and understand that having these assets has a monetary value.
Many major oil and gas companies are highly selective about their suppliers, and they prefer one or two key partners in a given service area. Technology is a critical part of their selection criteria. They want to know if suppliers are building the next breakthrough in safety, speed or quality, and more importantly, if they have the intellectual property to prove it.
Patents serve as one of the clearest indicators of this commitment. They show that a company isn’t simply just keeping pace; it’s investing in the future. In doing so, they don’t just protect their own market position but advance the entire field.
When filing a patent, the company is teaching the world precisely how to do something. It advances science and technology. In exchange, the company receives a 20-year license to exclude others from using the invention in a selected area. This balance between sharing knowledge and protecting rights is what keeps industries evolving while still rewarding the companies/teams that take risks.
It’s also worth noting that not every technology warrants a patent. Protecting IP requires significant time and money, and businesses must be disciplined, carefully weigh what customers are truly willing to pay for. But for the legal teams embedded in these industries, that challenge is also the reward; they get a front-row seat to the technologies reshaping the subsea world.
At its core, innovation is about creating value, and legal frameworks ensure that value is both captured and sustained. In high-stakes industries where technology advancement cannot afford to stall, the legal team is more than a support function. It is a catalyst.
