By Omar Barraza
In my opinion, the practical benefits of obtaining a patent are misunderstood. For example, when a patent holder believes their rights are being infringed a common response is to attempt to negotiate a licensing agreement. When an agreement cannot be reached, the patent holder could decide to file a civil suit. While the potential costs of protecting a patent may be so high that the patent holder will ignore potential infringements, it is prudent to attempt to obtain patents that are likely to have a much higher value than their cost.
Disclaimer: This material is for informational purposes only. You should contact your attorney to obtain legal advice.
In my opinion, the practical benefits of obtaining a patent are misunderstood. For example, when a patent holder believes their rights are being infringed a common response is to attempt to negotiate a licensing agreement. When an agreement cannot be reached, the patent holder could decide to file a civil suit. While the potential costs of protecting a patent may be so high that the patent holder will ignore potential infringements, it is prudent to attempt to obtain patents that are likely to have a much higher value than their cost.
Disclaimer: This material is for informational purposes only. You should contact your attorney to obtain legal advice.