1. Inventors Often Do Not Understand Intellectual Property.
- You may want to take an active role in managing intellectual property issues
- Strong protection can be important to the success of a business venture
- It is easy to make a mistake that will irrevocably damage your intellectual property position and likelihood of success
- If you are not prepared to provide oversight and guidance, you are taking a substantially greater risk
2. Patents Are No Assurance Of Success.
- Be careful not give too much credit to the existence of a patent
- It is true that a strong patent may make it very difficult for a competitor to get a foothold
- A weak patent, however, may provide protection for only an insignificant feature that does nothing to protect against competition
- You can have the strength of a patent reviewed prior to investing
3. Even a Strong Patent Is No Assurance Of Success.
- Remember that a strong patent is not a guarantee of success
- Typically, a good business plan is required for success
- You cannot rely on a technology to sell itself or to automatically run a good business
- Most patents can be designed around in time
4. A Patent Provides No Protection Against An Infringement Claim.
- A patent does NOT represent a Patent Office determination that there is no infringement
- A patent infringement claim can destroy a business plan
- A patent gives the right to prevent others from using a patented invention, but provides no defense against an infringement claim
- The risks are typically greater when the technology is an improvement in an existing field
- You can attempt to identify infringement risks before investing
5. Patents Have A Geographical Scope.
- Patents must typically be obtained on a country-by-country basis
- There are a few exceptions:
- EPC (European States)
- ARIPO (Former British Colonies)
- OAPI (African Countries)
- Eurasian (Former Soviet Block Countries)