How inventors go from patent to licensing agreement

On Behalf of | Jul 22, 2019 | Industry Patents And Infringement |

Filing a patent in America is easier and less expensive than it is in most other countries. However, it is neither easy nor cheap. The United States Patent and Trademark Office has several guidelines in place that inventors must follow or their claims will be rejected time and time again. One of the major criteria patents must satisfy is novelty. An idea must be new to be accepted. Commercial use of the idea, public disclosures and even articles may undermine the ability to patent an idea.

Another key contributor to success is the temperament of an inventor’s allies. Filing a patent is not a submit-it-and-forget-it system. It may require frequent follow-ups and tweaks, which tacks on time and money. This makes it especially important to work with professionals that are patient and can handle high-stress situations as well as high levels of uncertainty.

According to Fortune, the use of big data could also completely disrupt the patent industry in America. The move comes from one main company with a big goal: playing matchmaker between investors and their potential end users. To do this, the company relies on AI that analyzes the millions of patents on file at the U.S. Patent Office.

The United States Patent Utility hopes to change the fact that 95% of patents are never licensed. This shortage of licensing agreements stems from a number of obstacles inventors must first overcome. Finding end users requires a lot of time and money. Reaching an agreement is also often difficult.

Finally, there is often an imbalance of power. This puts big companies in a position to take advantage of smaller inventors. By matching these inventors with sometimes several businesses, they may stand a much better chance of receiving competitive offers and signing a lucrative agreement.

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