Your inventions are only yours, and no one can use them without your permission. You have to license your patents, so if anyone else uses your invention, they can’t able to use their name or steal your invention. In any case, when companies want to use your invention or license patents, they will pay you a handsome amount in return. No doubt licensing your patents is essential for you, and in this way, your invention is also secure, and also you can earn some money through it. Moreover, if you are noticing that the company is using your invention, then you must patent your invention. For the sake of licensing patents,there are two ways for licensing your inventions and secure them and earn some money through them easily. Furthermore, both of these ways are not much more complex, just need proper guidance and support in licensing standards-essential patents. These ways of licensing your inventions include patent infringement litigation or out-of-court negotiation. We can help and support various patent owners for their hundreds of patents, licensing through these both ways.
What is Out of Court Negotiation and How it works?
A prospective licensee is a company that is using your invention. In the process out of court negotiation, we will start the process by sending one letter of notification to the desired prospective licensee. In addition to this, the letter will identify all the patents and also mention all services and products which are using these patents. Moreover, a patent license will offer from us in that letter. On the other hand, the prospective licensees will respond, and their typical question is about the evidence of infringement, and these shreds of evidence will be in a form of claim charts.
All these things will lead towards a valuable discussion based on financial terms and rules for the patent license. In addition to this, if our prospective licensee will not respond to the notification letter, then we can file a patent infringement suit at the request of our client. In this patent infringement suit, the patent owner will request court and ask help from the court to declare that the desired company which is a prospective licensee will owe the money damages of the patent owner for this infringement. This is one approach for your licensing patents.
How Patent Infringement will work?
We recommend our most of the clients in the majority of the circumstances that it is better to start with a letter rather than a lawsuit. However, most of our client patent owners and other inventors know this very well that these huge companies do not respect the intellectual properties or inventions of other people. Due to this reason, they don’t feel the need for any licensing of patents. At this time, the patent refinement suit is important to fill. After this, a company that is your desired prospective licensee can’t able to do not take into account you and your valuable invention as they are summoned from the respective court.
In addition to this, numerous lawsuits, in the end, settle down with mutual understanding. In the end, the prospective licensee becomes agrees to pay you a handsome amount using your patents. It’s true that we can’t say what will happen in the end or what will be the results of your efforts for licensing patents. But, we will completely help and support patent owners and inventors with the licensing of their patents. No doubt we will support inventors and patent owners to receive a good amount of revenue from their various patents.
Other Significant Points
Sometimes, patent owners or inventors select to be a plaintiff in their patent infringement lawsuit, they enforce patents. On the other hand, some patent owners for the sake of patent assertion choose to incorporate a business entity. In addition to this, some of the inventors select to work with the licensing company which can easily handle funding and litigation needs. We can help you to explain even minor details about licensing procedure.
The Bottom Lines:
When you will come in contact with us and discuss your patents or invention, then we will provide you all information. We will give you details about the pros and cons of both of these approaches for licensing patents. You can contact us easily through our website or on their other contact details. Patent owners can discuss their patents and inventions, and we will clear all doubts and ambiguities. No doubt licensing your patents is a significant step if you want to earn a good amount of money from your inventions.