Every form of law has its primary purpose(s) because legal statutories are drafted as a result of certain experiences which must have brought about displeasure and disgruntlement. In other words, laws are not established on a proactive basis but on a reactive reason, a result of certain human action which must have violated the right of another human.
While the benefits of patent law are enjoyed by current inventors, it is imperative to apprise most people about the importance of the law firm.
To know about the importance of something you enjoy and can as well enjoy later in life is very relevant and cultivates in you the habit of lauding the privilege, especially when it is about protecting your property as a patent law firm does. Of what importance is a patent firm to an inventor?
Increment of Value
Having a patent law firm backing for an invention means that there will be increment in company value. A patent law excludes others from using your idea unless permitted by you and while the idea remains, you can still improve on it with time and consistent diligent research.
Licencing Opportunity
Patent provides an inventor with licencing opportunities across companies. A patent law firm will guide you on how to sell licences to companies that have better financial and strategic strength to take the idea to the market, and you will earn your bucks too while you still own your invention or business idea.
Corporate Value
While the asset value of companies can be around just 15% of the company’s net value, the corporate value is worth 85%. This implies that protecting your intellectual property with a patent law firm has a lot of value and input to your company.
Patent Application Procedure
The procedure of coming by a patent can be made easy by a patent law firm. A professional patent attorney knows how to file a patent application that would be granted faster compared to a non attorney applicant, so they make the protection of your intellectual material easier. Mind you, there are examiners who will check if the invention is worthwhile and needs to be protected, then it takes two to three years before the patent is finally granted.
Variation of Financial Requirement
The Patent Cooperation Treaty (PCT) is in place to assist your patency. The patent law firm attorneys will guide you on how to receive their tutelage. They help you get patent across countries without having to travel to each country. A patent law firm you deal with must have apprised you with the possible financial variation of patency across countries. For instance the cost of malaria drug patency in an African country might be costlier than that of patency for a technological invention in the United States.
Having known the importance of protecting your property and the opportunities that lie ahead in doing the same, it is imperative to take action and guide your intellectual property from those on the lookout for stealing other people’s ideas.
Posts by SpeakBindas Editorial Team.