We all know that obtaining a patent should not be the goal, but merely means to the goal. Typically, a patentee wants to (1) gain competitive business advantages by excluding its competitors from using the patent in their products, or (2) capitalize the value through licensing the patent.
To achieve either goal, a patentee needs to answer at least the following questions:
• What is the value of your patent?
• Is your patent valid?
• Is your patent enforceable?
Patent valuation is a complex topic and will be discussed at another time. Suffice to say, however, that the value of a patent is directly tied to its validity, enforceability, and claim scope. To successfully enforce a patent, one must first draft and prosecute patents properly and avoid five common mistakes of patent prosecution.
(TO BE CONTINUED)
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