Fact Or Fiction? Debunking Patent Myths For Business And Technology Leaders

There are many misconceptions or 'myths' about patents that have found their way into popular discourse, ranging from what type of innovations are patentable, to how important it is to own and protect your intellectual property (IP) using patents. These myths include "You can't patent software", "I have a patent on my product so I am allowed to sell my product" and "You should only get patents if you are willing (and can afford) to take someone to court if they infringe them". Unfortunately, many businesses fail to secure patent rights on valuable intellectual property or fail to identify, recognize and mitigate patent-related risks in part because they are relying on these myths. This may lead to missed opportunities or worse, result in increased liability arising from patent infringement disputes.