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

Successful Business Meeting
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 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 provi...

What is Patent Licensing?

Today, a company's competitive advantage is often found in the form of formulas, patents, schematics, designs, know-how, algorithms, manufacturing processes, data (such as analytic data) and hundreds of others types of information that give your company its ability to outperform its competitors. This competitive advantage information is the company’s intellectual property (IP). The majority of that IP is in digital format, stored on servers (cloud based) worldwide. Licensing of intelle...

Simple Precautions to Protect Your Patent

inventor considerations
Creating inventions or products for a company is a popular option for many talented inventors. However, many inventors have been shortchanged by large corporations and in some cases they have not been able to reasonably benefit from their hard work. There are a lot of precautions that can be taken to ensure that inventors and their creations are protected. The following are some of the main actions that you can take as an inventor in order to protect your own interests, especially if the prod...