Why do I need a patent? If your invention has market potential and you think that another company could make profits from your invention, you need protection from a patent. -A patent gives you the right to exclude others from making your product. -As a patent gives exclusivity, the patent holder has time to market the invention without competition making him/her able to charge higher prices. -It gives the right to initiate legal action against anyone that is making or selling, without permission, the patent holder invention. -You can make money by licensing or selling your invention to someone else. -It gives you priority over third parties wanting to register their patents in countries that do not require registration.
What is a ‘patent’? A patent is a grant of a property right by the Government to the inventor. The United States Constitution provides for Congress to provide for patents to encourage useful inventions. The patent itself provides a detailed description of the invention, and how it is used or how to make it. Thus if you obtain a patent you can not keep the matter secret, which is the province of Trade Secret Law. A patent enables the owner to exclude others from making, using or selling the invention for the life of the patent.
A patent attorney is an attorney who has the specialized qualifications necessary for representing clients in obtaining patents and acting in all matters and procedures relating to patent law and practice, such as filing an opposition. The term is used differently in different countries, and thus may or may not require the same legal qualifications as a general legal practitioner. The titles patent agent and patent lawyer are also used. The latter is generally used only if the person qualified as a lawyer.
Patent valuation
