It's commonly known that invention ideas website and corporations 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, of course, if 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 plenty more uses besides these, including:
1. Patents can be used collaterals to obtain loans. Should you look into the assignment database of america Patent and Trademark Office (USPTO), you will find that many patents are used on various banks. This is because patents are treated as tangible assets. They've got their own values, and so they can freely be transferred from one owner to a different, as with all other tangible properties. Banks may use patents as collaterals around the loans they lend in order that if your default occurs, they could seize the patents as a way to remedy the default.
2. Patents may be used to increase a company's value. A company's patent portfolio may be appraised, and its value can put into their total asset value. When the company is offered on the market, value of its patents can help drive its sales price. The stock prices of public companies can also increase once they acquire patents either by pursuing their particular innovations, licensing, or purchasing them.
3. Patents enables you to settle disputes or lawsuits. Small companies may think they do not need to obtain patents once they don't plan to be plaintiffs in infringement lawsuits. However, they don't realize that patents might help have them off infringement disputes or litigation. Many of the common in industries the location where the major players own various patents. When two companies inside the same industry fight in the courtroom over ip 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 an alternative product from Company A.
4. Patents have defensive uses. Insurance firms these, competitors could be discouraged from obtaining rights to similar ideas, which consequently cuts down on the chance of competitors enforcing an infringement action upon your company. Additionally, with patents, competitors may be deterred from developing, selling or making similar items.