A patent lawsuit can be one of the harshest realities facing your innovative business. Whether enforcing or defending one, a patent lawsuit undoubtedly brings cost and uncertainty—two things all companies wish to avoid. For small and medium sized businesses, these lawsuits can be devastating. Fortunately, you can limit this cost and uncertainty by talking to an intellectual property attorney. Timing is everything when it comes to protecting your business and IP. Here are three examples of when it may make sense to do so:
Obtaining patent protection is the culmination of hard work and perseverance—from the engineers/inventors/R&D team who develop the invention to company leadership who make the financial investment to the attorneys who take the idea through the patent process. The result is an intangible asset that provides the patent owner with an advantage over the competition and one that should be jealously guarded.
Ideas that lead to groundbreaking innovations are remembered for eternity. However, the difference between protecting and losing those ideas sometimes come down to a single moment in time. For Alexander Graham Bell and Elisha Gray it was moment that shaped global communications forever.