In many cases, it makes sense for a company to buy a patent, or a variety of patents, in order to advance their own goals and expand their markets. In other cases, it could be a strategic move in order to alleviate any future possible patent conflicts that could arise after a new product is brought to market. Whatever your motivation for acquiring a patent, or series of patents, The Patent Professor has a long history of working with clients for patent acquisitions and will be happy to help you with yours. If you are unsure of why you would need to buy a patent, or if you have received an offer from a company about a patent you currently hold, contact us today to discuss your options, and to secure legal counsel through this complicated yet common situation.
What Is a Patent Acquisition?
In general terms, a patent acquisition is an act of one party buying a patent from the party who currently holds the patent rights. There is no set value to a patent, and can fluctuate significantly based on the desirability of the patent, the financial size of the company offering to buy it, the issues that the patent in question may cause for the offering party down the road, and a variety of additional factors that will need to be considered before you either make an offer or accept an offer for a patent. Below are a few different reasons that companies would want to buy a patent.
Why Would A Party Want To Acquire a Patent?
There are a few reasons that a company would want to buy a patent. We’ve listed some common ones below:
To Expand Market Share
Many companies choose to acquire patents in order to expand their market share. A corporation may have significant buying power, and make an offer to an individual patent holder for their intellectual property that could be a significant financial gain.
To Protect From Lawsuits
If a company has a new product they are planning to roll out, they may want to buy any patents that they foresee causing issues down the road. It might make financial sense for the company to spend the money up front to avoid lawsuits proportionate to the value of the product in the future.
To Enter A New Territory
United States patents will not cover Chinese territories, and so if a company wants to move into a region where their existing patents do not protect them, they will want to either apply for a new patent, or buy existing patents if they already exist.
To Use the Patent In Court
Unfortunately, there are people out there referred to as “patent trolls
” who acquire intellectual property as a way to bring frivolous lawsuits to successful companies or people selling a particular product. If you are in a situation where you have been threatened by such an individual, it is important that you hire an attorney who is experienced with patents.
Should I Acquire a Patent?
If you or your company are planning to introduce a new product, hoping to expand your market share, move to a new territory, or are simply trying to avoid any future complications, you may want to consider acquiring a patent, or series of patents, to solve your issues. Speak with an experienced attorney as soon as possible to get an idea of the exact direction you should plan to take.
Contact The Patent Professor Today
If you are approaching the world of patent acquisition from any angle, contact The Patent Professor
today. We have over 20 years of experience dealing with patents, and will be happy to help you navigate the process of patent acquisitions, whether you are the buyer, have been made an offer, or are considering your options for any future issues.