Are you familiar with patents? What are they and what do they do for your business?
Well, here's a brief, high-level explanation of what it is and the three types of PATENTS!
It is an exclusive right that prevents any other person from making, using, or selling the US-patented product or process for a specified period of time.
Patents do not require the inventor to actually create the patented product; they only prevent others from doing it without the inventor's permission.
The tricky thing is that there are THREE different types of patents.
👉🏻First, are UTILITY PATENTS also known as “Patents for Invention” and are the most common type of patent. This covers processes, machines, physical products, and what is called composition of matter, which is another way of saying a new chemical compound or formula. Utility patent holders have the right to prevent others from making, using, or selling their inventions for a period of 20 years from the date the patent application is filed. This type of patent requires maintenance fees, making it more expensive than a design patent.
👉🏻Second, are DESIGN PATENTS that cover the design of a product rather than the use of a product; for example, the design of a new robot. A design patent entitles the owner to prohibit others from making, using, or selling the patented design for 15 years after the patent is granted and this type of patent does not require any maintenance fees.
👉🏻Finally, PLANT PATENTS cover new varieties of plants that can be genetically created. A plant patent holder can prevent others from making, using, or selling the plant for up to 20 years from the date the patent application is filed. Plant patents, like design patents, do not require maintenance fee payments.
It is essential to make sure you have a patent for the kind of business you are in to allow you to keep your competitors in the market at bay.
Want to know more about how to protect your business?
Please contact Serna Legal Services at (312) 601-9859 or info@sernalegalservices.com if you’d like to learn more about WHAT IS A PATENT AND HOW CAN YOU OBTAIN FEDERAL PATENT PROTECTIONS.
This content is published by Serna Legal Services, LLC and is available for informational purposes only and is not considered legal advice on any subject matter. By viewing this content, the reader understands there is no attorney-client relationship between the reader and the publisher. The content should not be used as a substitute for legal advice from a licensed professional attorney, and readers are urged to consult their own legal counsel on any specific legal questions concerning a specific situation.