This is an ever evolving branch of law. Generally, a patent gives the patent owner the exclusive right to make and use their invention. Provided your invention is a machine, a process, or an article of manufacture, is new, and not obvious then it may be eligible for a patent. There are multiple types of patents available so there are options that come into play all driven by your particular goals and objectives.
There are utility patents, design patents, plant patents, provisional patents, and non-provisional patents. There are pros and cons that need to be evaluated when deciding what type of patent is best for you. Since this area of law is not very straight forward I hesitate to provide too much information without rendering some accompanying advice.
An issued patent is a tangible piece of property that can be bought, sold, licensed, or put up as collateral and borrowed against. A patent portfolio fencing in your company’s intellectual property increases the value of your company. Recall, technology companies worldwide use patents as a sword to protect their market share from infringing competitors and can protect you as a shield should you get caught up in a need to cross license patents with a competitor or to keep competitors from starting infringing activities.
Please feel free to contact me using the form below for an evaluation of your invention.