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Patent Misconceptions
Common Mistakes that Patent Applicants Make
Mistake
Not recognizing that innovative business methods and technology are
potentially patentable.
Fact
Many applicants/businesses don't realize that their innovative
processes, software, business methods, etc., are potentially
patentable. Patents are available for many types of innovation, not
just mechanical devices.
Mistake
Thinking that your competitors can't patent your trade secrets.
Fact
If your competitors independently develop the same innovations as
your trade secrets, those competitors could patent the innovations
which might prevent you from using your trade secrets.
Mistake
Believing that patents don't provide value.
Fact
Patents can provide additional revenue streams from licensing.
Patents can also be used to maintain a monopoly and hinder
competition. Some innovative solutions your business has developed
may have applications in other industries and fields (which could
result in licensing income from non-competitors). Patents can also
be leveraged in cross-licensing agreements to allow your business
the use of others' patented innovations.
Mistake
Not knowing that intellectual property is time sensitive.
Fact
Innovations and methods can become public domain (and be rendered
unpatentable) if patent applications aren't filed in time.
Disclosure, advertisement, use, or sale, etc., of an innovative
product or process before filing a patent application may result in
the loss of international and/or United States intellectual property
rights.
Mistake
Thinking that all patents are created equal (“A patent is a patent
is a patent”).
Fact
The strength or weakness of a patent depends on several factors,
such as the language chosen to enable and claim the innovation. A
well-written patent is more likely to provide broader protection and
less likely to be invalidated by litigation.
Mistake
Believing non-disclosure agreements alone can protect intellectual
property.
Fact
Non-disclosure agreements do not provide licensing rights, do not
establish a priority date for overcoming prior art, and do not
protect against independent development by others. It may also be
difficult to establish when and if non-disclosure agreements are
breached, since use of independent innovations cannot be prevented.
Mistake
Thinking patent costs are hard to predict or budget.
Fact
Stoneman Volk Patent Group provides competitive fixed fees, quoted
in advance, so that businesses may make decisions and budget
predictably. Our office can help with intellectual property
strategies to fit any budget.
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