What makes working with an IP attorney important?
On behalf of Kaufhold & Dix Patent Law posted in Patent Law on Thursday, September 27, 2018.
If you ever stray into a conference of patent attorneys, you might feel you just walked into a bar on an alien planet. Conversations don’t seem to be taking place in English. The seemingly incomprehensible language of the patent world is something that has developed over the course of decades, driven by the demands of the practice.
IP law, like all law, is complex. But it is also highly detailed. Besides myriad laws, there are IP-specific rules and doctrines developed over many years. Along with that, a tangled bureaucracy has developed for IP administration. And then there are the various legal venues for handling legal claims. To keep track of the past and developing trends, and maintain a strategic edge in securing and enforcing inventors’ rights, those skilled in IP protection have their own jargon.
Objective: Monetization
That’s one reason why anyone with a new idea they want to capitalize on should be working with a patent attorney. Few appreciate the nuances of the patent system better and can navigate it as smoothly. Additionally, once any rights attainment hurdles are cleared, successfully leveraging those rights to realize optimal financial return requires skillful management of transactions that include, but are not limited to:
- Confidentiality agreements
- Licensing contracts
- Transfers of rights by sale or other means
- Joint venture initiatives
Another point to consider is that there are not many patent attorneys in practice. They make up less than 2 percent of all attorneys practicing in the U.S. The reason for that is not just because it’s a complex practice, but because of steeper requirements. Patent attorneys typically must have a science or engineering degree. Not only must they pass a state bar exam, but also a test for admission to the U.S. Patent & Trademark Office bar. Only then can they prosecute patent applications.
Bottom line, it’s one thing to be able to claim an invention. It is another to successfully obtain government acknowledgment of that and protect your rights to realize financial gain without the aid of a trusted and experienced patent attorney.
