How To Deal With IP Portfolio Development

You are going to upgrade your company system soon. And this calls for IP portfolio development as you need to exploit and protect the inventions of your unit. There are several ways in which you can use developments of such. Two of which are through your own cost- from scratch to implementation, and by reaching for a firm that deals with IP portfolio development. The main advantage of doing it your own is that you will be able to maintain the confidentiality within your circle. Apart from that it will be easier for you to tap for the professionals involved when there is an arising issue. On the other hand, reaching for a firm to do the IP portfolio development could give you the same advantage only that there will be a lot of people who know the confidential details of your company’s inventions. In this context, we are going to talk about the development of IP portfolio within the company’s circle.

  • Hiring for additional professionals. Since all the process on the development will be done by in house officers, therefore you need additional geniuses to join the team. If you are dealing with software technology then engineers of such is best to hire. Lawyers who have had solid experience when it comes with handling IP portfolio are advice to be employed. These will comprise your team on the development of the company’s portfolio.
  • Going through an in-depth analysis of laws. You have to be aware about the regulations and laws governing the making of company IP when it comes with your business. This is made possible with the help of your lawyers.
  • Planning the system. Before you could come up a plan, it is always good to look back on the company’s goals, mission and vision. This will be a solid ground for the development of the new system and the establishment of the IP portfolio of the company.
  • Creating strategies. Along with the planning and development of IP portfolio is to create strategies that could best use to meet the company’s cause and goals.
  • Implementing the system. After the thorough study, planning and creating of strategies, implementation comes then to give meaning of the purpose. During this stage, it is important that the company would totally embrace the new system and that every area is aware with the new developed portfolio.
  • Checking the validity. To make sure that everything goes well, or is according to the plan, you have to test the validity of the new system. This will be a good basis that you have or have not successfully implemented your company’s goal.
  • Make corrective actions. If there would be problems on the verification or the results isn’t according to the plan, give immediate actions on it so the loopholes will be corrected.

When it comes with making your company IP portfolio, it is advice to reach for the professionals who best know the process and development. They will help you develop your system according to your goals while exploiting and protecting the company’s inventions and interests.

 

Patent-Reform-Bill-630x378

Patent Litigation; The David-Versus-Goliath Struggle

Most individuals or small businesses feel as though their interests are being well protected as they have completed the patent prosecution process and have been granted a patent on their unique idea. Sources cite that it in the first five months of 2015, approximately 500 patent litigation cases were filed per month. Statistics shows that the number of cases filed during the first half of 2015 are comparable to 2013 which was the biggest year for patent litigation. The sheer number of cases filed each month is a clear indication that intellectual property law is a sensitive and complicated area of law. Albeit defending a patent is not an undertaking for a savvy individual, attorneys who specialize in intellectual property law are the only recourse for patent owners in navigating the complicated waters of defending individuals or businesses in patent litigation.

Patent litigation is referred to as the David-versus-Goliath struggle primarily because the plaintiff is likely an individual or small business and the defendant is, in most cases, a larger entity with unlimited resources. Simply having a valid patent or an iron clad claim doesn’t guarantee success. Larger corporations are in a position to aggressively contest every aspect of a patent owner’s claim and having an advocate with a proven record of successfully litigating patent infringement cases is key to a successful resolution.

A patent enforcement attorney will explain the various outcomes of patent litigation and advise accordingly. As a patent owner, it would be wise to be aware of the potential outcomes, including injunctive relief, which is an order stating that the infringer must cease production, sale, or services that use the owner’s patent. An exclusion order may be issued by the International Trade Commission when the patent owner is an efficiently-run domestic industry and the patent infringer is a foreign entity. An exclusion order is similar to injunctive relief and, the patent infringer is ordered to cease production, sale or service that uses the patent. In addition to the aforementioned outcomes, an attorney may seek also seek monetary damages, a negotiated settlement may be reached, or the litigants can pursue mediation.

A skilled patent attorney of techpats will do all the necessary due diligence to ensure that the patent owner’s interests are protected, but most importantly, advise the patent owner of any conditions required to facilitate a successful infringement claim. Protect your patent by hiring a skilled patent enforcement attorney.