Obtaining a patent for your invention can be a critical step in allowing you to protect it so that you can get the compensation that you deserve for your work. However, patent management can be a difficult process for those that have minimal experience or knowledge concerning the patent application, protection, and management processes. Patent management services are fully capable and experienced in handling these needs for their clients.

Assist With Filing For The Patent

Filing for a patent is a critical step, but it can be confusing due to the amount of highly technical paperwork that will be needed for the review process. A patent management service can assist clients with this important part of the process so that potentially costly mistakes can be avoided, as well as allowing the client to focus on their next creation or optimizing their current invention. The patent application process can be lengthy, which can make it useful to start it as soon as possible.

Provide Patent Protection Services

A patent will offer you the protection of ensuring that you are the only person that is capable of profiting from the use of your invention. This will require monitoring for individuals and companies that are using your patent without your permission. In addition to being able to order them to stop using the patent, you may also be able to receive compensation for the revenue that they generated from their unauthorized use of your invention. Not surprisingly, this can be among the more significant challenges of holding a patent, as there may be many businesses and individuals that could be eager to profit from your work without paying you compensation.

Handle Licensing Agreements And Fee Collection

In many cases, the inventor of the patent may not have the infrastructure necessary to effectively capitalize on their work. However, there may be other firms that are interested in using these creations. A patent management service can handle the licensing needs for your patent. This can allow you to sell the rights to use the patent to firms that will have the capabilities and infrastructure that are needed. These agreements can be both general and exclusive. For those that are wanting an exclusive right to your patent, it can be reasonable to expect a premium for this benefit. Luckily, a management service can handle all of these steps while also monitoring the use of your patent to ensure the licensees are complying with the terms of your agreement.