Is a Patent Worth the Investment?

Posted by MMarquit under Startups
From http://www.ddiy.co 4210 days ago
Made Hot by: Small Business Tribe on May 19, 2013 3:52 pm

Is a patent worth the investment? Before you engage in the time-consuming and expensive process of getting a patent, stop and think about whether or not a patent will really help your business.

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Comments

Written by lyceum
4207 days ago

It is also important to know that you don't really could get a "world patent" on your invention. You have to seek a patent on the different markets you want to conduct business.

Have you compared the patent process in different countries? Have you heard about the story about Hakan Lans and the computer graphics / "mouse" patent? Hakan Lans sued companies, e.g., Compaq, former Gateway (now Acer) and HP for not paying royalties, and allegedly infringing on his patent, but lost due to a technicality regarding his way of filing the patent. (By the way: IBM paid royalties.) I have written blog posts on this case.

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Written by HeatherStone
4207 days ago

Miranda,

I think the effectiveness of holding a patent definitely depends on the kind of business you operate. Also, it depends upon whether you intend to make additional revenue by licensing or selling it. Simply holding a patent is not a guarantee of success. It should be seen as a tool and may not be a good fit for every business. Thanks, as always, for sharing with the BizSugar community.

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