Not too Obvious Uses of Patents

It is commonly known that how do I patent a product and firms protect their innovative products, whether they are devices, manufacturing techniques, business methods, or software, from being copied. Patents allow owners to exclude others from making, selling, or importing for the US the patented product. In the event the patented goods are infringed, owners may send cease and desist letters towards the infringers, and if the infringers continue their infringing activities, the patent owners can go to court and enforce their rights through injunctions or seeking both compensatory and punitive or treble damages. Patents have lots more uses besides these, including:



1. Patents can be used as collaterals to acquire loans. In the event you check out the assignment database of america Patent and Trademark Office (USPTO), you will notice that many patents are used on various banks. This is because patents are treated as tangible assets. They've their particular values, and they can freely be transferred in one owner to a different, as with every other tangible properties. Banks might use patents as collaterals about the loans they lend so that if your default occurs, they are able to seize the patents in an effort to remedy the default.

2. Patents enables you to increase a company's value. A company's patent portfolio could be appraised, and its particular value can included with their total asset value. If the business is offered available, the need for its patents might help drive its sales price. The stock values of public companies can also increase once they acquire patents either by pursuing their very own innovations, licensing, or purchasing them.

3. Patents enables you to settle disputes or lawsuits. Small companies may think they do not must obtain patents after they usually do not plan to be plaintiffs in infringement lawsuits. However, they don't know that patents will help have them off infringement disputes or litigation. This is especially common in industries where the major players own various patents. When two companies inside the same industry fight in the court over ip infringement, the lawsuit oftentimes is resolved through cross-licensing. One cross-licensing scenario may involve Company A licensing a patented component from Company B, and Company B licensing a patented manufacturing strategy for a different product from Company A.

4. Patents have defensive uses. Insurance firms these, competitors might be discouraged from obtaining rights to similar ideas, which consequently reduces the chance of competitors enforcing an infringement action against your company. Additionally, with patents, competitors could be deterred from developing, selling or making similar items.

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