Understanding Patent Rights

The federal government rewards exclusive rights to patent owners to stop their competitors from copying their patented inventions. Patent owners can stop their competitors use, sell, offer for sale, manufacture, or import their patented invention in the United States. This grant of exclusive rights provides patent owners with excellent competitive edge, as they can legally exclude competitors from competing with them for the same product. Thus, patent owners enjoy having the full market share for their patented product. There are patent agencies like InventHelp that guide inventors through the whole process as you can see from Invent Help reviews.

Besides being able to stop competitors from infringing their products, patent owners can obtain compensatory damages, treble damages, and attorney fees. Compensatory damages must be no less than the reasonably royalty rates for the use of the product. “Treble damages” means the value of compensatory damages multiplied by three. Treble damages are available if the infringement was committed willfully. Attorney fees may be obtained in exceptional cases. An example of an exceptional case is one where the infringement was committed willfully.

Patent remedies can be limited in certain circumstances. For instance, one can generally collect only for infringement damages incurred within 6 years. Another situation that can limit damages is if the infringer lacked notice of the patented status of the product. Thus, patent owners should mark their products with either the word “patented” or with the US patent number. Patent owners should not, however, falsely label their products as being patented if they are not so.

A patent file history contains the originally submitted application and the correspondences between the US Patent and Trademark Examiner and the applicant. The patent file history is important because it contains all the arguments the applicant used to persuade the USPTO examiner that the applicant’s invention is patentable. The patent file history is also important in that it contains all the prior patents or publications the USPTO regarded as relevant to the patentability of the applicant’s invention. If you are still confused about something Inventhelp experts can help you out.

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