Patents are complex. It costs much to appraise one because of many details involved. Input from advisers and lawyers with certain experience and technical knowledge is mandatory. The valuation teams will vary from one case to another but it follows that those involved need to understand the situation before going ahead with the task. A discussion on how much is my patent worth is given below.
The patent should be in force. Otherwise, the valuations will be worthless. There should be no arrears on the maintenance fee which has to be paid for the invention. Patent context is vital too. It can profoundly affect the outcome. The innovation may appear straight forward until a plaintiff sues the originator for causing damages. This can end up in infringement. You should be keen on such happenings.
The necessary information has to be gathered. A copy of the application letter on the discovery is mandatory. In addition, independent appraisals, financial statements, marketing studies and business plans must be supplied. If there are litigations which have been put forth related to the discovery they need to be disclosed too. Licensure agreements are also needed. In case there were promotions or adverts put forward in the previous which are closely related to that innovation, copies of them should be supplied.
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.
It is the duty of the CPA to go through the innovation details. If there is no time for that, interviews should be conducted with an attorney in the field who has gone through the document. Some of the required information includes serial number, name of the inventor, invention title and assignee who is to be new owner. The section on claims in the document has the key information. It outlines the scope to be taken by the patent.
The scope of the invention has to be investigated thoroughly. Its protection basis should be understood well. The terms and conditions which come to play are not different from those in real estate. The inventions which have been cited as having links with the one in question must be checked. If they were subjected to court trials, the details of the lawsuit can be used to evaluate the likelihood of the patent being rejected or infringed.
You should ensure that the innovation you are presenting is valid to avoid time wastage and also wastage of resources. If the person applying for the innovation is not the author then the discovery cannot hold its ground in court. Also, having tried to sell it before nullifies the application process.
As much as the discovery may be super, the application process cannot be successful if it interferes with the lives of other people. Determining such things in advance can save you a lot.
The patent should be in force. Otherwise, the valuations will be worthless. There should be no arrears on the maintenance fee which has to be paid for the invention. Patent context is vital too. It can profoundly affect the outcome. The innovation may appear straight forward until a plaintiff sues the originator for causing damages. This can end up in infringement. You should be keen on such happenings.
The necessary information has to be gathered. A copy of the application letter on the discovery is mandatory. In addition, independent appraisals, financial statements, marketing studies and business plans must be supplied. If there are litigations which have been put forth related to the discovery they need to be disclosed too. Licensure agreements are also needed. In case there were promotions or adverts put forward in the previous which are closely related to that innovation, copies of them should be supplied.
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.
It is the duty of the CPA to go through the innovation details. If there is no time for that, interviews should be conducted with an attorney in the field who has gone through the document. Some of the required information includes serial number, name of the inventor, invention title and assignee who is to be new owner. The section on claims in the document has the key information. It outlines the scope to be taken by the patent.
The scope of the invention has to be investigated thoroughly. Its protection basis should be understood well. The terms and conditions which come to play are not different from those in real estate. The inventions which have been cited as having links with the one in question must be checked. If they were subjected to court trials, the details of the lawsuit can be used to evaluate the likelihood of the patent being rejected or infringed.
You should ensure that the innovation you are presenting is valid to avoid time wastage and also wastage of resources. If the person applying for the innovation is not the author then the discovery cannot hold its ground in court. Also, having tried to sell it before nullifies the application process.
As much as the discovery may be super, the application process cannot be successful if it interferes with the lives of other people. Determining such things in advance can save you a lot.
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