APRIL 2022CIOAPPLICATIONS.COM8CIO InsightsCXO InsightsIn My ViewPATENTEDALL RIGHTS RESERVEDLorem IpsumDolor SetAmetLorem ipsum dolor sit amet, consectetur adipiscing elit. Curabitur eget pretium tortor, eget accumsan diam. Donec vel fermentum odio. Nullam et cursus sem, nec egestas magna. Etiam mattis dolor ac ornare consectetur. Nam in fringilla turpis, eget hendrerit purus. Quisque dictum libero sed ipsum e citur dapibus. Nam ac tempus ante, convallis fermentum sapien. Proin tinci-dunt sapien turpis, bibendum tincidunt lectus accumsan cursus. Curabitur ullamcorper nisl nec ante varius, porttitor feugiat mauris viverra. Etiam ornare condimentum nunc, non fermentum massa fringilla nec.PATENTEDALL RIGHTS RESERVEDLorem IpsumDolor SetAmetLorem ipsum dolor sit amet, consectetur adipiscing elit. Curabitur eget pretium tortor, eget accumsan diam. Donec vel fermentum odio. Nullam et cursus sem, nec egestas magna. Etiam mattis dolor ac ornare consectetur. Nam in fringilla turpis, eget hendrerit purus. Quisque dictum libero sed ipsum e citur dapibus. Nam ac tempus ante, convallis fermentum sapien. Proin tinci-dunt sapien turpis, bibendum tincidunt lectus accumsan cursus. Curabitur ullamcorper nisl nec ante varius, porttitor feugiat mauris viverra. Etiam ornare condimentum nunc, non fermentum massa fringilla nec.ou can't patent a concept." "Patents do nothing for you." "I need a huge patent portfolio to defend against fakes and trolls."After decades as both a patent attorney and angel investor, I've heard it all. A few sticks in my craw. Five of my favorites follow.1. I have a patent so that I can sell the product.No! Patents give their owner only one thing--the right to stop others from making, using, or selling what is patented. They have nothing to do with whether the patent owner can sell a product. All of the same usual obstacles still stand in the way of a sale, such as government approval (e.g., a medical device requiring FDA approval), competitive pressures, and...other patents. Yes, another person may own a patent that covers some aspect of the product you want to sell. 2. A patent is a technical document. Quite to the contrary, a patent is a business document. Why are we patenting an invention? Short answer: to make money. Effective patent coverage requires careful and primary attention to business. This demands many questions: What is the business model? How do you plan on commercializing this technology? Who are your customers? What are your business goals? All good patent lawyers can understand and apply the technology to the business goals. If they can't, they will speak up. A quick result: When looking for the right patent attorney, technical skill is essential, but don't lose sight of the attorney's business insight and experience. Careful consideration of business strategy is key to ensuring a patent has value.3. Never search before filing a patent application. It is dangerous.This one hurts when I hear it. Generally, a patent owner is entitled to significantly more damages if an infringer knew about their patent and then went ahead to infringe it anyway willfully. Until about a decade ago, this advice almost made sense (I still was against it!). Around that time, however, two significant changes happened. The Supreme Court made it a lot "YSTEVEN G. SAUNDERS, CO-CHAIR INTELLECTUAL PROPERTY DEPARTMENT/ PATENT ATTORNEY, NUTTER5 MISCONCEPTIONS EXECUTIVES AND ENGINEERS HAVE ABOUT PATENTS
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