Not Obvious Purposes of Patents

It is commonly known that cool invention ideas and companies protect their innovative products, whether or not they are devices, manufacturing techniques, business methods, or software, from being copied. Patents allow owners to exclude others from making, selling, or importing for the US the patented product. If the patented items are infringed, owners may send cease and desist letters to the infringers, and when the infringers continue their infringing activities, the patent owners can visit court and enforce their rights through injunctions or seeking both compensatory and punitive or treble damages. Patents have lots more uses besides these, including:



1. Patents bring collaterals to have loans. In the event you research the assignment database of america Patent and Trademark Office (USPTO), you will see that many patents are used on various banks. The reason is patents are treated as tangible assets. They've their very own values, and they can freely be transferred from one owner to another, just like any other tangible properties. Banks might use patents as collaterals about the loans they lend in order that if your default occurs, they can seize the patents in order to remedy the default.

2. Patents may be used to increase a company's value. A company's patent portfolio could be appraised, and its value can included with the business's total asset value. Once the clients are offered for sale, the need for its patents may help drive its sales price. The stock values of public companies could also increase once they acquire patents either by pursuing their very own innovations, licensing, or purchasing them.

3. Patents enables you to settle disputes or lawsuits. Businesses might think they just don't need to obtain patents after they do not want to be plaintiffs in infringement lawsuits. However, they don't know that patents might help buy them off infringement disputes or litigation. This is particularly common in industries the location where the major players own various patents. When two companies within the same industry fight in the courtroom 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 strategy for a different product from Company A.

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