A utility patent application can be filed provisionally or unprovisionally. The non-provisional application establishes the filing date of your patent application and begins the examination process. Your patent application will be examined by the USPTO. A provisional application only establishes your filing date and expires automatically after one year. You may file a provisional application when you are not ready to enter your application into the regular examination process. A provisional application establishes a filing date at a lower cost for a first patent application filing in the United States. A provisional application allows the term "Patent Pending" to be applied to your invention.

Building such a fortress around the invention makes it difficult for others to use the invention without getting a license. Depending on the policy of the organization and the type of the invention, the organization can then grant either exclusive or nonexclusive licenses to use the product. There are several ways to protect IP, but one should always remember that protecting IP is expensive. Therefore, an organization needs to think carefully about its competitors, likely infringers, and the geographical area where the invention is to be marketed. Sometimes keeping an invention as a trade secret might be the cheapest way to protect it. Sometimes patenting, even if more expensive, might give better protection. Finding the best way to build and protect an IP portfolio requires imagination, in addition to a thorough knowledge of the company and its product lines. A comprehensive IP portfolio can be of substantial value to both private and public sector entities. For both sectors, patents are a key element of an IP portfolio. Large companies can afford an offensive patent strategy, but small companies may not have the necessary resources for this. Therefore, especially for small- and middle-sized companies, proper planning and parallel thinking is required to develop an effective and cost efficient strategy. Join the IP Street community and learn more about protecting your intellectual property. We have developed a comprehensive network of patent lawyers to connect you to others that can help license, protect and commercialize your idea. Patent infringement is a serious threat and protecting your invention or patent idea is critical.

Resources are limited. Which patents should we maintain? Should we maintain international fees? Which patents pay the best royalties? Such questions are essential to perform IP audits consistently. A major limitation to make this happen is the lack of organization. With IP Street, we can help you quickly and easily search your universe of patents to get your 'House in Order.' Our patent search tools will assist you significantly.

Proper organization of a patent porfolio is essential to be prepared to properly navigate the IP landscape. One key issue is related to inventorship. Consider the Pfizer patent, patent # 5,760,06^, which is commonly known as the COX-2 inhibitor. Pfizer is currently in a $1B lawsuit because Searle, the original owner of the patent, failed to include a key inventor on the patent. Pfizer inherited this mess when they acquired Pharmacia, who had previously acquired Monsanto, who had previously acquired Searle. Ignorance is not a defensible excuse in patent litigation.

Sadly, the value of a patent is generally determined by the courts. Most litigation involves infringement, but there are also other lawsuits regarding ownership and inventorship and SEC anti-competitive allegations. Let IPStreet.com help you better protect against patent infringment, better utilize patent search tools and patent your invention under the guidance of an experienced patent lawyer.