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Patent pool A consortium of at least two companies agreeing to cross-license patents and other IP rights relating to a particular technology. inventionprocess. There are many examples from around the globe, where the newest trends with new ideas and patents are for the greater good for all, re-utilization and extraction of substantial parts, rather than fostering monopolies. HAVE THAT ONE GREAT BIT IDEA THAT WILL SET YOU UP FOR LIFE, the ever-elusive pursuit!
patented the first golf tee
Exhaustion of rights A legal concept stating that rights in a product are exhausted by its sale. (iv) covered by contract law Getting a new idea off the ground, is NEVER easy. How can you safely go about ensuring that this in fact happens, (without someone beating you to it or stealing your ideas) How do you plan to position, pitch, present, promote and sell your idea? Licensing and royalties (3-7% of net sales) licensing agents in field of invention is a wise choice and investment, worthwhile pursuing. First to file A legal concept in which the right to a patent for an invention is determined by the first person to file for a patent to protect that invention, cf.
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The patent process
So, without further ado, here is what you have to consider and effectively do, if you want to register a patent of new idea:
? You have to give a full written description of the idea, innovation or invention
? It has to have enough detail to have others understand and grasp what it is, how it works and how it has to be made.
? It has to make sense from all perspectives, including their use and usefulness!
? Some call this a patent specification
? It may have drawings, diagrams, or figures that show how the invention is made and how it operates.
? You have to also specifiy in detail what your individual claims to innovation or idea actaully constitutes or is!
? This description or declaration will give due notice as to what you are potentially saying is your own. This will containg the detail of the patent you are filing, in other works what exactly and precisely, as the idea, invention, innovation, product, service, or patent owner is. This in turn will secure the right to exclude others from making, using, or selling it for a period of time. This will form the real basis of evaluation of your right or claim to fame and exclusivity.
? It states what is covered and what not.
? Each patent that is filed, might have many claims to it, covering lots of inventions.
? To take any legal effect, standing and acceptance, this patent application must meet the requirements of the national law related to patentability.
? ONLY The inventor themselves and/or legal counsel representing the inventor can apply for patents.
A patent is an exclusionary right. It effectively gives YOU the right to exclude others from infringing on the patent, it does not mean that you have FREE reign to exploit the patent. It might just be a slight varaition or improvement on an exiting patent and will be filed accordingly.