Search results
Results from the WOW.Com Content Network
A patent is a form of intellectual property that gives its owner the legal right to exclude others from making, using, or selling an invention for a limited period.
Valuation of patent rights is one of the main activities related to intellectual property management within an organization or company. Indeed, knowing the economic value and importance of the intellectual property rights assists in the strategic decisions to be taken on the company's assets, but also facilitates the commercialization and transactions concerning intellectual property rights.
They include patents, industrial designs, trademarks, copyright, and trade secrets. [ 1 ] Intellectual property derives its value from a wide range of parameters such as usefulness, market share , barriers to entry , legal protection, profitability, industrial and economic factors, growth projections, remaining economic life, and new ...
Patent infringement typically is caused by using or selling a patented invention without permission from the patent holder, i.e. from the patent owner. The scope of the patented invention or the extent of protection [ 68 ] is defined in the claims of the granted patent.
Patent licensing & enforcement companies ("P-LECs"): [citation needed] These are firms that acquire patents for the sole purpose of securing licenses and/or damages awards from infringing parties. Another name for a P-LEC is " patent troll ," although this is viewed as a pejorative reference.
The patent system is designed to encourage innovation. This is because patents, by conferring rights on the owner to exclude competitors from the market, presumably offer the incentive for people to study new technology.
Business method patents are a class of patents which disclose and claim new methods of doing business. This includes new types of e-commerce, insurance, banking and tax compliance etc. Business method patents are a relatively new species of patent and there have been several reviews investigating the appropriateness of patenting business methods.
The issue of novelty often arises during patent examination, because of inadvertent and/or partial disclosures by inventors themselves prior to filing a patent application. [citation needed] Unlike the laws of most countries, the US patent law provides for a one-year grace period in cases of inventor's own prior disclosure. [28]