Rakesh M. Amin, LLM, RPh & Brent A. Batzer, Amin Talati10.01.14
Intellectual property, and patents in particular, is a significant part of any nutraceutical business today. Whether they are your patents or those owned by others, having an established strategy to develop and exploit your own intellectual property while minimizing your risks with respect to others’ patents is a valuable piece of your business strategy.
A basic patent strategy has three primary areas of focus: patent procurement (i.e., obtaining patent rights), patent enforcement and risk management. Each is important to protect your company and can be done with varying levels of expense. Be aware that spending some money now can net you significant money later, whether through value added or money saved in avoiding costly litigation.
Back to Basics
The first and best place to look for potential patentable material is within the company. To audit your home-grown intellectual property, an understanding of some patent law basics is helpful. In order to be patentable, an invention must be new, useful and non-obvious in light of what existed before it, which includes all patents, published patent app
A basic patent strategy has three primary areas of focus: patent procurement (i.e., obtaining patent rights), patent enforcement and risk management. Each is important to protect your company and can be done with varying levels of expense. Be aware that spending some money now can net you significant money later, whether through value added or money saved in avoiding costly litigation.
Back to Basics
The first and best place to look for potential patentable material is within the company. To audit your home-grown intellectual property, an understanding of some patent law basics is helpful. In order to be patentable, an invention must be new, useful and non-obvious in light of what existed before it, which includes all patents, published patent app
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