Law360, New York (January 7, 2015, 10:07 AM EST) -- From home automation to remote patient monitoring, the number of "Internet of Things" for consumers is increasing exponentially. Mergers and acquisitions related to IOT from January 2012 to September 2014 total over $7 billion with more than half of the transactions taking place during the first three quarters of 2014. As the number of devices connected to the Internet increases, new opportunities for innovation are exploding for startups as well as established companies in the software and hardware industry. In this rapidly growing industry as well as other industries, it is vital for companies to protect their inventions in a quick and cost-effective manner. Recent changes to the patent system allow companies to obtain a patent in about a third of the time, and allow them to quickly establish and strengthen their position....