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Can I buy or sell patent rights? Yes, if you are an inventor you may assign all or part of your interest in the patent application or patent to anyone by a properly worded assignment. The patent application itself must be filed in the U.S. Patent and Trademark Office as the invention of the true inventor, however, and not as the invention of the person who purchased the invention from the inventor. Just as deeds to real estate should be recorded with the local county officials to protect the parties’ rights, patent assignments should be recorded in the Patent Office to give notice to the to the public and other potential purchasers.

I have a patent. Someone else seems to be ripping me off. What can I do? Violation of your patent it is called an "infringement". You can go to the Federal Court and initiate a lawsuit to seek a restraining order and injunction to prevent or stop further infringement. You also can ask the court to seize and impound the allegedly infringing items or articles while the action is pending. If there was an infringement the articles can be destroyed. An infringer also would be liable for actual damages plus additional profits of the infringer or statutory damages. Further, an infringer could be held liable for injury to business reputation or the dilution in the value of the patent. You also can be awarded costs and attorneys' fees if you prevail.

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.