To deal with patent applications is a complicated matter. A lot of expenses are incurred in appraising one. In addition, the information needed is substantial. Advisers and lawyers who have specialized in handling such cases are needed to help in the application process. They should have expertise and technical knowledge on such a matter. The understanding they have on invention issues should be super. Below are highlights on how much is my patent worth.
You have to determine first if the patent can be enforced. It would be useless to value unwarranted invention. The maintenance fee on the same should be updated. Otherwise, it will be worthless to pursue the case. The context is important too. The circumstances of engagements made for the valuation can have an immense impact on the outcome. A plaintiff can start a lawsuit leading to infringement.
The necessary documents required include the application form, business plan, financial statements, marketing study and appraisals. Contract copies, litigation descriptions and licensing agreements are also needed. If there is data on the industry the invention will be applied in, then it should also be presented. In the event that there is advertising or promotional materials related to the invention, they have to be handed over too.
Choose the valuation team wisely. Remember these are the people you are entrusting with your invention so they must be highly knowledgeable on such matters. The necessary knowledge includes valuation skills, technological background and good knowledge on monopolies. The attorney hired should proof that he or she has handled such cases before successfully and the valuator should be good at economic matters related to patents.
Having facts on the matter you are presenting is important for it to end well. Otherwise, you will fumble with words if you are not aware of the details in the invention. If the valuator cannot spare time to read the document, he or she at least conduct interviews with someone who has read it. The best person to engage in the interview process is the attorney. Details on the author, title, serial number and transfer of ownership are the basics.
Investigation into the invention scope is essential. It is through such that you get to know more about the discovery. The cited documents will act as your guide in discovery of other inventions which are related to it. Looking at the court cases that are almost similar to that particular patent can help you check out details which can be subjected to litigation.
Inquiring on the innovation validity is emphasized. It can save you on time and resources which would have otherwise been wasted in pursuit of a worthless cause. If the invention had been put in the market before the application process, it will probably be declared invalid. Also, if those presenting it are not the originators, it becomes invalid.
Do not imagine that just because the invention is good you will get the chance to put it into practice immediately. If it affects negatively the life of a person, it is likely to be denied. This is something to be researched on before going ahead with the application process.
You have to determine first if the patent can be enforced. It would be useless to value unwarranted invention. The maintenance fee on the same should be updated. Otherwise, it will be worthless to pursue the case. The context is important too. The circumstances of engagements made for the valuation can have an immense impact on the outcome. A plaintiff can start a lawsuit leading to infringement.
The necessary documents required include the application form, business plan, financial statements, marketing study and appraisals. Contract copies, litigation descriptions and licensing agreements are also needed. If there is data on the industry the invention will be applied in, then it should also be presented. In the event that there is advertising or promotional materials related to the invention, they have to be handed over too.
Choose the valuation team wisely. Remember these are the people you are entrusting with your invention so they must be highly knowledgeable on such matters. The necessary knowledge includes valuation skills, technological background and good knowledge on monopolies. The attorney hired should proof that he or she has handled such cases before successfully and the valuator should be good at economic matters related to patents.
Having facts on the matter you are presenting is important for it to end well. Otherwise, you will fumble with words if you are not aware of the details in the invention. If the valuator cannot spare time to read the document, he or she at least conduct interviews with someone who has read it. The best person to engage in the interview process is the attorney. Details on the author, title, serial number and transfer of ownership are the basics.
Investigation into the invention scope is essential. It is through such that you get to know more about the discovery. The cited documents will act as your guide in discovery of other inventions which are related to it. Looking at the court cases that are almost similar to that particular patent can help you check out details which can be subjected to litigation.
Inquiring on the innovation validity is emphasized. It can save you on time and resources which would have otherwise been wasted in pursuit of a worthless cause. If the invention had been put in the market before the application process, it will probably be declared invalid. Also, if those presenting it are not the originators, it becomes invalid.
Do not imagine that just because the invention is good you will get the chance to put it into practice immediately. If it affects negatively the life of a person, it is likely to be denied. This is something to be researched on before going ahead with the application process.
