Just as products have value at one stage which can increase or decrease with time, patents also gain or lose value over time as the result of market changes.
Patent valuation refers to the valuing of an invention to ensure that the monetary compensation requested for the right to distribution, marketing, development, and usage is in line with its market value at the set time.
What may once have been a revolutionary new concept which had tremendous use and popularity in the industry may now be obsolete because of new inventions. Competition in new inventions is extreme as can be seen from the many claims filed annually.
New trends may emerge
As the market changes, new trends may materialize. One way of ensuring that your inventions stay in line with changing market needs is to study invention records at least once a year.
One of the more complex issues faced by intellectual property rights holders is that of patent valuation when a patented invention has not been produced yet. This is where the expertise of intellectual property lawyers is required.
We can help you to determine a market related value for the invention even before production. This will help to establish compensation due for the right to its utilization or when an infringement occurs.
Marketing vehicle
Another concern is that of branding. If you don’t know how to do proper patent valuation, your invention may be sold under a brand name that is not well established or respected in the marketplace.
By establishing the value of the invention and selecting the correct branding vehicle, you thus make sure that you get the maximum benefit from the ownership right.
Contact us to help you with patent valuation and legal issues surrounding intellectual properties.
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