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ARTICLE · 24 JANUARY 2017

Patents: What To Be Aware Of

Finnegan, Henderson, Farabow, Garrett & Dunner LLP
Finnegan, Henderson, Farabow, Garrett & Dunner LLP
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Finnegan, Henderson, Farabow, Garrett & Dunner LLP

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Why are patents the single-most valuable asset for some companies, yet for others just a waste of money? Most often, the difference is driven by two distinct activities:

United StatesIntellectual Property
Elliot C. Cook
Elliot C. Cook
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Why are patents the single-most valuable asset for some companies, yet for others just a waste of money? Most often, the difference is driven by two distinct activities: deciding what to patent and obtaining a patent for it. Companies that approach both activities strategically are able to unlock the powerful competitive advantages that patents offer. Companies that fail to think strategically about one or both often find themselves investing resources and obtaining no return. Here is what you need to know about patents during both phases.

Deciding What to Patent

Companies must understand the function of patents, which is to exclude, or block, competitors from doing what is claimed in a patent. Owning a patent does not permit a company to do anything. It limits the activity of other companies.

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