Merits of Hiring a Patent Attorney
A patent attorney is an attorney who represents clients in obtaining patents. Patent attorneys will act on your behalf on all the matters and processes that relate to patent law and practice. Patent lawyers help prevent theft of invasion which is a major advantage. It is very important for inventors to seek a licensing deal when starting a business. It is also an option for a inventor to seek for an investor for infusion of cash. In this case You need to disclose the invention so that you can attract licenses and investors. This will make sure that the licensee and investor will be able to evaluate the deal. The offer may be rejected if no patent application will be filed. When the patent application is filed by the real inventor, the patent will be rewarded to the investor.
Another benefit of hiring patent lawyers is that they help you improve your profit margins. This is due to the fact that your lawyer will ensure that nobody else will make, use or sell your invention. This information is actually claimed in the patent. There is a high demand for patented products. Therefore excluding others reduces the supply of products in the marketplace. This monopoly ensures that patent owners will end up charging high prices for their products. This will definitely increase the profit margin.
Another benefit of hiring a patent lawyer is that they help your business reduce competition. Competitors who enter the market for the patented products and services are barred from doing so. Risks associated with patent infringement are very stringent. Competitors will not go through with this because the risks are greater than the profits that will emerge. Hiring a patent lawyer ensures that as a patentee you can assert your … Read More..Read More →