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.
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.
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