Obtaining a patent is the culmination of a lot of hard work – and it provides the exclusive rights to your invention.
Once you have a patent, however, you have to keep it if you want to keep enjoying the benefits of your exclusive rights. Failing to do so can let competitors exploit your invention without consequences.
What needs to be done?
Navigating the intricacies of patent maintenance can be daunting, especially since intellectual property laws are always evolving (right along with modern inventions and innovations). To keep a patent, here are some important things to remember:
- Pay the maintenance fees on time: There are ongoing financial obligations with a patent, due at various intervals. Failure to pay those fees will cause the patent to lapse, and the protections to be voided.
- Rights must be enforced: Having a patent doesn’t guarantee that someone won’t try to infringe upon it. It’s up to the patent holder to monitor the market and make sure that nobody is making unauthorized use of their invention. Failing to challenge infringers weakens the patent’s value.
- Maintain the patent’s global status: When there’s international involvement, there are maintenance fees that have to be paid overseas, as well. Keeping track of those deadlines can be overwhelming without experienced assistance.
- Monitoring competing patents: New patent applications are constantly rolling in, and some of those granted may overlap and infringe upon existing patents. When a patent is granted in error and it infringes on an existing patent, it’s important to file legal challenges as timely as possible.
These are among the numerous reasons that partnering with a patent attorney is not only beneficial but essential.
