Not So Obvious Uses of Patents

It is commonly known that patents help inventors and companies protect their innovative products, whether they are devices, manufacturing techniques, business methods, or software, from being copied. Patents allow owners to exclude others from making, selling, or importing to the US the patented product. If the patented products are infringed, owners may send cease and desist letters to the infringers, and if the infringers continue their infringing activities, the patent owners can go to court and enforce their rights through injunctions or seeking both compensatory and punitive or treble damages. Patents have plenty more uses besides these, including:

1. Patents can be used as collaterals to obtain loans. If you look into the assignment database of the US Patent and Trademark Office (USPTO), you will find that many patents are assigned to various banks. That is because patents are treated as tangible assets. They have their own values, and they can freely be transferred from one owner to another, just like any other tangible properties. Banks may use patents as collaterals on the loans they lend so that if a default occurs, they can seize the patents as a way to remedy the default.

2. Patents can be used to increase a company's net worth. A company's patent portfolio can be appraised, and its value can added to the company's total asset value. When the company is offered for sale, the value of its patents may help drive its sales price. The stock prices of public companies may also increase when they acquire patents either by pursuing their own innovations, licensing, or purchasing them.

3. Patents can be used to settle disputes or lawsuits. Small companies may think they do not need to obtain patents when they do not intend to be plaintiffs in infringement lawsuits. However, they do not know that patents can help get them off infringement disputes or litigation. This is especially common in industries where the major players own various patents. When two companies in the same industry fight in court over intellectual property infringement, the lawsuit oftentimes is resolved through cross-licensing. One cross-licensing scenario may involve Company A licensing a patented component from Company B, and Company B licensing a patented manufacturing technique for a different product from Company A.

4. Patents have defensive uses. By having these, competitors may be discouraged from obtaining rights to similar ideas, which consequently reduces the risk of competitors enforcing an infringement action against your company. Additionally, with patents, competitors may be deterred from developing, selling or making similar items.

Why You Need a Solid and Experienced Patent Attorney

As the founder of a think tank which happens to operate online, I often hear horror stories of small time innovators and inventors having their ideas, patents, and new concepts ripped off. We all know that trying to hold onto intellectual capital these days is getting tougher and tougher. If you come up with a new invention, by the time you patent it, someone else has already stolen the idea, copied it, and is in full scale production shipping it into the markets that you were intending to sell to. Okay so, let's talk about this for second shall we?

Some good advice might be to get a provisional concept patent or least file for one for your new invention, as you are building your prototype. And yet, as soon as you do that you've given away at least part of your idea to someone else. They might have other components or knowledge about other fields to couple to this idea of yours, which will allow them to create a prototype faster, and perhaps even better than the one you are building. This is where it is quite important to have a solid and experienced patent attorney.

It is hard to estimate every potential eventuality that can happen prior to filing a patent, or which way the technology will end up. You just can't know that. Previously in business, I was always amazed at the new ideas our franchisees would come up with in the marketplace, and how our customers would find new ways to use our technology, or the services we provided them. They would often ask us to perform some adjunct service, or modify our equipment to solve some of their other needs. Being as it was we were in the business to make money and give good customer service, we generally would oblige if we could make additional revenues doing so.

This is where a good patent attorney comes in because they know how to make a patent stick, but make it ambiguous enough to cover the widest possible area so that others don't infringe on your possible uses or future modifications of your device, invention, or new concept. A poorly written patent will get you into all sorts of problems, and cause incessant lawsuits and challenges as well. After all, if someone wants to compete with you using your technology, that company will have their own patent attorney try to find holes to break into your patent, and ensure that if there is a lawsuit, that they will either win it, or prevent you from stopping them.

Without a good patent attorney, all bets are off and without money to defend a poorly written patent you can understand that you either pay now, or pay later. And if you end up paying later after going with a cheap patent attorney solely based on price, it could end up costing you 10 times if not hundreds of times as much to prevent infringement. Who knows, if you get into a real war with a larger corporation, the amount of money you might lose could be a thousand-fold. You just can't know that. Indeed I hope you will please consider all this and think on it.

Compulsory License Regime in India

Preface

According to "The Paris convention of 1883" each contracting state had to take legislative measures providing for the grant of licenses to prevent the abuses which might result from the exercise of the exclusive rights conferred by the patent. Further, the licensing of pharmaceutical products was addressed by the Doha Declaration which allowed members to issue license to export generic versions of patented medicines to countries with insufficient or no manufacturing capacity in the pharmaceutical sector.

Many developed countries had effectively applied the concept of licensing and after Doha Declaration which addressed the concerns related to public health various developing and less-developing countries have also adopted it.

Indian Framework

The existing legal framework for the issue of license in India is comprehensive and meets all the obligations provided under Article 31 of TRIPS. According to the compulsory licensing system, the controller is empowered to allow third parties to manufacture and market a patented product or process with or without the patentee's consent.

The Indian regime incorporates provisions for the grant of compulsory licenses to any person interested on request in case of;

a. Non-working of patent,

b. Reasonable requirement of the public are not met and,

c. Non availability to the public at a reasonably affordable price

In deciding on application for compulsory licences several factors are considered by the controller including the nature of the invention, the time which has elapsed since the sealing of the patent, the measures taken by the patentee to make full use of the invention, the ability of the applicant to work the invention to the public advantage, and the applicant's capacity to take capital risk.

Compulsory license may also be granted to third party for manufacture and export of patented pharmaceutical products in certain exceptional circumstances wherein any country has insufficient or no manufacturing capacity for the concerned product, provided compulsory license has been granted by such country or such country has, by notification, allowed importation of the patented pharmaceutical products. Further, in order to prevent re-imports of products so exported are identified by special color, packaging etc.

Additionally, if the government is satisfied, then without the consent of the patentee the controller may in case of national emergency, extreme urgency or public non-commercial use including public health crises or other epidemics may grant a compulsory license to third party to work the invention.

While settling the terms and conditions for granting a compulsory license the controller endeavor to secure that the royalty and other remuneration reserved to the patentee is reasonable and the patented invention is worked to the fullest extent by the licensee. Moreover, the license granted is a non-exclusive license and non-assignable for the balance term of the patent unless a shorter term is consistent with public interest.

Conclusion

Compulsory licensing provisions are foreseen as sustaining a balance between the needs of technology consumers and innovators. In a developing country such as India, compulsory licensing is probably the most effective safeguard against the potential abuse of monopoly by patentees. However, while the provisions and procedure are detailed under the law, only one compulsory license has been issued in India till date.

Choosing the Right Patent Lawyer

There are many people all over the country that decide to use the services of a lawyer. A patent attorney is responsible for helping individuals who have created an entirely new invention. There are a few basic services that patent attorneys will provide their clients. One of the biggest things that an attorney will do for their clients is they will help them determine if something similar to what they created has already been invented and patented. This is why it is so important that anyone who has an invention idea visits an attorney immediately so that they can determine if they idea of their invention has been used already or not. This will save many people a great deal of time and money and it is important that they find this information out sooner rather than later.

Another important thing that patent attorneys will do for their clients is they can help them to get the necessary protection that they need on their invention so that someone else doesn't come around and steal it. This is another very important thing for anyone who has invented something to keep in mind. There are many people who will put this off for a great deal of time as they work on perfecting or working out kinks in their product or even finding investors and their idea for an item will be stolen. Fortunately, with the help of a patent attorney, anyone who has created something can avoid having this happen to them.

There are many reasons why you may want to turn to an attorney, but there are many people who do not know patent attorneys and will need to find a new attorney to help them with this process. When it comes to finding a lawyer to help you with patent issues, not just any lawyer will do, you will want to make sure that you find one who is specifically trained in patent law. This is the best way to make sure that you will be getting the type of help that you need with your patent. An attorney will have passed a special patent bar exam and will have specific training in patent law. It is important to make sure that the attorney you trust has these things before you proceed with anyone.

There are other things to keep in mind when looking for a patent attorney, including experience. Any lawyer you trust with something as important as a patent, should have experience in this specific area of the law. There are many lawyers that could potentially help you with a patent issue, but a specially trained patent lawyer is always your best bet with these types of cases.

Making the Most of Your Patent Attorney Meeting

When people create unique inventions or develop unique ideas for inventions then they will often want to get a patent on that idea. A patent is a legal document that will protect your invention and prevent it from getting stolen or used by someone else. Many people will decide to get patents on their inventions. However, in order to get a patent you will need to be prepared to spend some money. If you work with a larger corporation, these fees will not be an issue. However, if you are working independently then this can be rather costly as there are several fees that you will need to pay to the US Patent Office when applying for a patent.

In order to make sure that you don't waste your time and money with the application process only to be denied a patent, you will need to hire a patent attorney. A patent attorney will help a person navigate through the patent process which is notoriously long and difficult to make sure that everything is handled properly and that they have the best chance possible for getting the patent that they need. Even though hiring a patent attorney means more fees a patent attorney can be the difference between you having your patent approved or denied. However, before you meet with a patent attorney, it is important to make sure you know how to make the most from the meetings that you have with your patent attorney to make sure you are getting the most from your interactions with this legal professional.

You are paying an attorney by the hour so make sure you ask as many questions as possible. Since you are paying this person for their time you should never shy away from questions. It is a great idea to have a list of questions that you will want to ask with you so that you can get through them as quickly as possible and so you won't waste any time during your meeting.

You should bring a folder of information with you covering nearly every thing possible you can think of that would pertain to your invention. This includes things like the name and description of the invention. You should also be prepared with answers to common questions that an attorney will ask you. This will include things such as how you came up with the idea and where you came up with it at. You should also know if any other party currently has a license on the invention or if part of the invention has been published online or in a magazine. You should also have information about any place that they invention has been sold or is currently being offered for sale. Having this information is important and will help you make the most of every minute of the meeting.

What To Look for in a Legal Translation Services Provider?

Patents, legal briefs and other legal documents should only be trusted to legal translation services provider. Important documents that pertains to your work and those that will have significant impact on your life must not be trusted to just anybody. Conduct a thorough search for a reliable and trusted company that can handle these sensitive materials. You might regret choosing a mid-level translation company to handle these types of matters in the end.

There are lots of translation services providers everywhere because of the demand for this type of service but there are only a few of them who specialize in legal translations. Those companies who specialize in this type of translation have what it takes to have an output that is 100 percent accurate which you can not find in mid-level companies that mostly handles general and common translation needs. Legal translation is a technical matter and it should be handled not only by a translator but with a team of experts who knows about the ins and outs of the subject matter. A patent for example should preferably be translated by a team that includes the translator, a lawyer who specializes in patents and a marketing expert to advice you where to launch your patent application for maximum profitability. Legal briefs or any other documents intended for court purposes is best handled by a law firm with translation capability.

It is important that before you hire a company to do the job for you, you should check if a secrecy clause is included in your agreement. This clause will ensure that whatever is in your documents will not leak out, the data and the contents of any of your documents is for you and the company's eyes only. A lot of money has been lost because an investor or a manufacturer entrusted a mid-level translations provider with his or her patent without a secrecy clause involved. The confident feeling that you will get because you have entrusted your hard work to someone reliable and there is a guarantee that it won't leak out is priceless.

The translations of sensitive business deals should also be handled by top legal translation companies. They usually have personnel who are native speakers of the language and know the culture as well. This is important especially when you are dealing with Asian businessmen who are particular in these matters. Trusting a company with no experience of situations like this might have negative results.