New PDF release: Adhesives & Sealants Industry June 2011

By Teresa McPherson

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If you are able to prove infringement of your patent, compensation is based, in part, on what the infringer would have paid you had they licensed your patent in the first place. Just as most civil litigation does not go to trial but is settled out of court, the same is true of most patent infringement lawsuits. Patent infringement lawsuit settlements are often based on a reasonable royalty that is applied to the unit or dollar sales of the infringing product (or some other measure of the patent’s use).

A trade secret involves literally keeping your invention a secret. Reasonable precautions need to be taken to ensure that your trade secret remains, well, secret. Examples include limiting access to the technology to as few people as possible, and making sure that drawings, formulas, schematics and other documentation are literally kept under lock and key. Employees who come in contact with the secret technology should sign confidentiality agreements, and details of the secret should only be released on a need-to-know basis.

In fact, the purpose of a patent is to grant you a time-limited monopoly for your invention that prevents others from using it. It is entirely possible, however, that you may need to license a patent from someone else in order to use your new technology if your invention is an improvement to a previous technology. Unless you take a license from the owner of the underlying technology, you could find yourself being sued for patent infringement. There was a time when many patents were issued for totally new technologies, such as the phonograph, telephone and transistor.

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Adhesives & Sealants Industry June 2011 by Teresa McPherson

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