Someone Designed Around Your Patent!

Here’s how competitors do it—often legally, as part of a system that incentivizes innovation.

Originally published by Investor’s Digest. Reprinted with permission.

Many inventors view a patent as the ultimate shield against competition. After all, being granted a patent often requires years of development, substantial expense and extensive interaction with the United States Patent and Trademark Office.

When the patent finally issues, inventors reasonably believe competitors can no longer enter the market with similar products. The reality is more complicated.

A patent provides valuable legal rights, but it does not guarantee market exclusivity. In many industries, competitors study patents and look for ways to develop alternative products that avoid infringement and meet consumer demand—“designing around” a patent.