Those that are created by the mind, such as inventions and ideas, are covered by Intellectual Property (IP) law. Through intellectual property law, owners have exclusive rights to their intangible assets, and among the many types of intellectual property rights is a patent. A patent is federal government-issued document that would grant the owner legal and enforceable right to ban others to practice the invention that is described and claimed in the aforementioned document. Patents rights usually last for 20 years, and they can be sold, inherited, mortgaged, rented, or taxed.
In order for an invention to be patented, Congress has specified that the application should be filed in a timely manner, and these can differ from each place. Typically inventors only have a one-year after certain acts before it becomes public property. Patents are usually pursued by investors for possible commercial advantages. Because patens can be exploited and does not necessarily give the inventor the right to practice the invention, it would help to consult any of the Fort Worth intellectual property lawyers to determine the extent of the patent and the discuss further the legal rights of the inventor. Obtaining a patent can be complicated, since there are several processes and the legal rules governing it are lengthy.
Having intellectual property right to a patent is often considered very lucrative and can provide a great deal of money. Because there are many people who would take advantage of the patented invention, inventors and their lawyers should ensure that the patent is strongly established. Infringement is the term for when an invention is used or copied breaching the intellectual property rights of the owner or inventor. In order to protect against infringement, the product or invention should be marketed along with its patent number given by the Patent and Trademark Office. Because of the effort and time to have a patent, it is just as important to ensure that it will not be easily stolen through necessary paperwork, which would protect the owner or inventor’s right for intellectual property as well as profits.Read More