Patent Engineering

Chapter 11

The Role of the Patent Engineer

It should be apparent by this time that patents can be extremely valuable to your company. Besides protecting your intellectual property that gives you a competitive edge in the marketplace, patents should be considered a valuable product in their own right. In either event, patents are valuable only if another company needs access to the technology claimed in your patents. It is the need to gain access to your intellectual property that generates the demand for your patents. If no one needs the technology contained in your claims, your patents are not just valueless. Rather, as discussed earlier in this book, they are expenses. They cost money to obtain. They cost additional money to maintain. And, they educate your competitors.

On the other hand, patents can prevent competitors from using your technology to gain access to your markets. However, it is up to you to enforce or assert your patents. No one else will do this for you.

Patents are worth money to you if other companies find that their need for your patented technology is so great that they are willing to offer something of value to you. This generally occurs through patent exchange agreements*. They may license your technology and pay you fees. They may buy ownership of your patent, thereby becoming the assignee. Or, they may enter into cross-licensing agreements with your company, thereby giving your company access to their technology.

Patents that disclose and claim a particular ...