Top 10 Licensing Mistakes

As a licensor, you want to go through a licensing process that will give you great results in the future. That, however, is often not the case. Licensors make mistakes which affect their royalties and other income. This is because they don’t look for a guide to show them how they can best license their inventions. Because we want you to avoid the same mistakes that so many make we have compiled a list of 10 things that you should look out for during a licensing deal. Taking on more than you ...

Patent Pools: What Are They, What Are Their Uses and Their Benefits?

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The simplest definition of a patent pool is a partnership between two or more companies that come together to share a patent for either intellectual property or a particular technology. Once the companies have the patent pool, they are free to develop and sell their products without worrying that anyone else in the market will copy them and put them out of business. Companies can form patent pools for various reasons. One of the most common is when two companies come up with intellectual propert...

How Long Do Patents Last and Can They Be Extended?

Many people are under the impression that once a patent is issued it will last forever. This is not the case. In fact, patents don't last that long and their term can be affected by where they are issued and also the kind of patent that is applied for. In the United States, for instance, any utility patent that was issued after June 8th 1985 expires after 20 years. A design patent expires after 14 years. After the expiry of a patent the holder no longer owns the technology or intellectual proper...

What Are The Benefits Of Creating A Business For Intellectual Property?

To many people, intellectual property is an obscure concept which can only be best understood and applied by people who are properly trained. You might be asking yourself how patents are of any essence to small businesses or any other type of a business. Other than setting you apart from the competition, there are many other benefits of creating a business around intellectual property. Why Is Intellectual Property Relevant? Along with human inventiveness and creativity, intellectual property i...

What Are Patents and How Do They Work?

A patent is a property right for an innovation given by a government to an inventor. A United States patent offers an inventor rights to exclude others from making, utilizing, marketing, or offering their invention in the United States or importing it into the United States, for a statutory timeframe (generally 20 years), in exchange for public disclosure of the creation at the expiration of the patent. There are three kinds of patents: Utility patents Utility patents may be pro...