Not Obvious Purposes of Patents

It is commonly known that famous inventors and firms protect their innovative products, whether or not they are devices, manufacturing techniques, business methods, or software, from being copied. Patents allow keepers to exclude others from making, selling, or importing for the US the patented product. If the patented products are infringed, owners may send cease and desist letters to the infringers, and when the infringers continue their infringing activities, the patent owners can turn to 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 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 particular values, plus they can freely be transferred in one owner to a new, as with all other tangible properties. Banks might use patents as collaterals about the loans they lend to ensure that if your default occurs, they are able to seize the patents as a way to remedy the default.

2. Patents can be used to increase a company's net worth. A company's patent portfolio may be appraised, and its particular value can put into the business's total asset value. When the company is offered available, value of its patents might help drive its sales price. The stock prices of public companies may also increase after they acquire patents either by pursuing their particular innovations, licensing, or purchasing them.

3. Patents may be used to settle disputes or lawsuits. Small companies might imagine they don't need to obtain patents after they don't plan to be plaintiffs in infringement lawsuits. However, they do not understand that patents might help buy them off infringement disputes or litigation. This is particularly common in industries in which the major players own various patents. When two companies inside the same industry fight in the court 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 another product from Company A.

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

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