How IP Lawyers Use Patents to Protect Intellectual Property
How IP Lawyers Use Patents to Protect Intellectual Property
Protecting your IP is extremely important. If you have a new and individual invention then it is worth seeking the advice of an IP lawyer to find out if you can patent this. A patent is a registration document which prevents others from copying the invention without your permission and thus restricts it commercial benefits to you.According to the World Intellectual Property Organisation, an invention is "a solution to a specific problem in the field of technology", which may be a product or a process. Normally a patent remains valid for up to 20 years (depending on renewal) after this period others then become able to commercially benefit from it.By owning a patent, an organisation simply has the right to prevent others exploiting the idea or concept which has been described in that patent. There is no onus on them to manufacture products themselves, but of course if they fail to fully exploit the commercial benefit of the invention, during their "lock out" period, then it is their loss.This is clearly evident in the way that the pharmaceutical sector operates. The creation of a new drug will not long be followed by a patent application, once this is done the marketing will begin, which involves pushing the drug as much as possible to encourage the maximum amount of usage. When the period of patent protection ends, then others can benefit from the information previously held within the patent, so producing "generic" drugs. The company producing the drug finances the creation of the brand name which is closely connected with the chemical composition of the drug, this gives the creation some distinction even when the protection finishes. And it will have priced its patented creation at a high level, in order to recoup its development costs and help fund its future research, while generic drugs - which the National Health Service will always choose where possible - are substantially cheaper.If you think that you have a brand new idea or concept that could be patented, then contact an intellectual property solicitor asap, patents are not just applicable to drugs. A legal IP specialist will help you define and register your development, and advise you on the best route to ensuring it is protected against being copied in the future. With the correct legal protection, you will be able to defend your intellectual property against any attempts to undermine its commercial viability in the marketplace by copying aspects of it. Prevention is always better than cure, so don't delay - your idea needs protection right from the start.
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