"The increased importance of intellectual property assets like patents and patent portfolios, along with the added complexity of valuing and analyzing risk for these information goods, has created a marketplace populated by players ill-equipped to handle the high transaction costs and information asymmetries representative of inteHectual property transactions. Accordingly, entities that can lower net transaction costs and improve information access will be able to take advantage of the unique nature of these assets." (Allen Wang, 2010, Berkeley Technology Law Journal, "Rise of the Patent Intermediaries") the tools atIPstreet.com could be a game changer.
Utility patents protect inventions that are a novel, nonobvious, and useful, such as: process innovations, machine innovations, manufacturing innovations, compositions of matter, or incremental improvements from foundational innovations. The three patentability requirements: New and Novel: For a United States patent the invention must never have been made public in any way, anywhere in the world, a year before the date on which an application for a patent is filed. In other countries, you have no one year grace period and require absolute novelty. Original and Nonobvious: An invention involves an inventive step if, when compared with what is already known, it would not be obvious to someone with a good knowledge and experience of the subject, for example, if you just make cosmetic changes that is obvious. Useful: This means that the invention must take the practical form of an apparatus or device, it has to do something.
Patents to plants which are stable and reproduced by asexual reproduction, and not a potato or other edible tuber reproduced plant, are provided for by Title 35 United States Code, Section 161 which states: Whoever invents or discovers and asexually reproduces any distinct and new variety of plant, including cultivated sports, mutants, hybrids, and newly found seedlings, other than a tuber propagated plant or a plant found in an uncultivated state, may obtain a patent therefor, subject to the conditions and requirements of title. (Amended September 3, 1954, 68 Stat. 1190). The plant patent must also satisfy the general requirements of patentability. The subject matter of the application would be a plant which developed or discovered by applicant, and which has been found stable by asexual reproduction. To be patentable, it would also be required: (1) That the plant was invented or discovered and, if discovered, that the discovery was made in a cultivated area. (2)That the plant is not a plant which is excluded by statute, where the part of the plant used for asexual reproduction is not a tuber food part, as with potato or Jerusalem artichoke. (3) That the person or persons filing the application are those who actually invented the claimed plant; i.e., discovered or developed and identified or isolated the plant, and asexually reproduced the plant. (4) That the plant has not been sold or released in the United States of America more than one year prior to the date of the application. (5)That the plant has not been enabled to the public, i.e., by description in a printed publication in this country more than one year before the application for patent with an offer to sale; or by release or sale of the plant more than one year prior to application for patent. (6) That the plant be shown to differ from known, related plants by at least one distinguishing characteristic, which is more than a difference caused by growing conditions or fertility levels, etc. (7) The invention would not have been obvious to one skilled in the art at the time of invention by applicant.
Let IP Street help you with your concept search. Once you have drafted the description and claims of the invention, you can utilize our multi-word patent search to see relevant patent documents that have similar textual relationships. This document relevancy search can help you have a better understanding of the patent draft so you can appropriately revise and rewrite to maximize the claim scope. These patent valuation and search tools will help you better develop the patent analytics and potential duration of a patent.
Executives need vision to convert patented R&D into a profit center. Consider EMI, a london company that produces music (a music label company). In their Central Research Laboratories in Hayes, Godfrey Hounsfield had an idea to integrate X-ray slices to create a 3-D image (originally known as an EMI scan), today know as a CT or CAT scan. Godfrey was awared a Nobel Prize for his work, and later knighted. The idea came to him while picnicking in the park; however, the senior executives realized this was no picnic. They leveraged the technology (foundation patent #3,778,614), securing over 120 of the first 450 patents in this space. The legacy competitors (General Electric, Philips, Siemens) were playing catch-up with this innovator. Few executives would be brave enough to execute such a divergent business strategy.