The Key Reason Why You Need a Patent Lawyer and Patent Protection For Your Invention
Types of intellectual property consists of patents, trademarks, copyrights, trade secrets and much more. Guarding “intangible” or “intellectual” things of the mind is called “IP” or intellectual property. This is usually compared to “real” property that is mainly all about real-estate. To break it down simply, patents safeguard inventions, like that innovative kitchen gadget, the novel online software, or unique health-related gadget for instance that an inventor has made. Trademark, on the other hand, is for branding reasons just like Nike currently being the trademark for their shoes, additionally, it protects the logo or the label itself of the invention. On the other hand, some of Nike’s novel footwear designs are guarded by a number of patents.
So why is obtaining a patent through a patent lawyer crucial? For numerous factors. Initially, if you’re a small designer and you would like to try to sell your invention to companies, distributors, or huge number of investors. A major issue is how one can safeguard the invention, and what may prevent other people from stealing the concept. You’ve got two choices to safeguard your invention: patent protection and/or a nondisclosure agreement (NDA). An NDA is a contract in between the inventor and another party that makes the other party never to reveal to others what you’re disclosing to them. The main problem with NDAs is that they’re often uncertain in regards to what is being disclosed and usually most companies will refuse to sign your NDA whatsoever. In addition, an NDA is only as successful as the other party signing it.
On the other hand, the patent holder can seek an injunction and damages, suing infringes in court and is some situations of willfulness infringement, multiple damages through a patent lawyer; patent is a much more powerful right.
Further, an issued patent is a defined piece of property that one could put up for sale in its entirety, or you could license to allow others the right to use what the patent is safeguarding. When you grant others a license you can get patent royalties which can be quite significant if negotiated properly. Also, owning a business with patents and trademarks can significantly increase the value of your business if ever you wish to attract investors or sell it.
For some customers, using a “patented” or a “patent pending” product get them to feel that both the business and the product or service alone is a lot more highly regarded, this is a great marketing strategy you should think about.
And last but not the least, if you want to put up for sale your own invention to significant firms, you have to have a “patented” product or service or idea. For instance, should your invention doesn’t have an issued patent or even a pending patent, the invention submission departments of large businesses will just give back you product or service or your idea back to you and will not even look at it. GM for instance often will reject any new idea from outside the corporation if there is simply no patent in place.
If you’re at the stage where you are wanting to move forward for patent protection, be sure it’s done correctly with a proficient and licensed patent lawyer. For additional info, call for a free consultation.
Cohen IP Trademark Law Group
9025 Wilshire Boulevard, Beverly Hills, CA 90211
(310) 288-4500
cohenpatent.com
