Protecting your intellectual property takes time. Especially if it is a patent. Waiting to get your complete patent application through can take up to three years. What do you do in the meantime? Spending too much time and money trying to get everything complete on your patent protection could cost you revenue opportunities. If your IP works and is market ready then it’s time to take action.
Not taking action with your patent will cost you over $250,000. And that’s not counting the cost of lost revenue opportunities or litigating any infringement. It’s estimated that the average cost over the course of the 20-year life span of a single patent is about $100,000.00 – or roughly $5,000 per year in maintenance fees. And that doesn’t begin to cover the initial investment, which on average is about $150,000.00 to develop a single patentable invention. That’s due in part because the U.S. patent office currently rejects about 65% of all patent applications.
One of the most important steps in licensing patents is reviewing the patent document to make sure it’s not infringing on other patents. Patent documents are complex, and understanding …
Google wants to buy your patent. Last week, it announced the launch of the Patent Purchase Promotion. It’s an experiment in creating a patent marketplace that’s simple, easy to use, and fast.
Not taking action with your patent will cost you over $250,000. And that’s not counting the cost of litigating any infringement. And that doesn’t begin to cover the first investment, which on average is about $150,000.00 to develop a single patentable invention.