Myopia is generally what happens when unprecedented opportunities are placed before them. Those in the know generally do better than those in the worry. Consider Cetus, a startup biotech with a focus on a liver drug. The FDA delayed the approval of the drug, and a major funding crisis ensued. Chiron offered to take over the liabilities contingent on the sale of two patents (# 4,683,202 and # 4,683,195) to a third party, Roche Molecule for $300M (in 1993). This sale was stalled because DuPont challenged the validity of the patents, based on the formal claims written by the inventor (not a patent attorney), Kary Mullis. In the end, the soap opera turned out well for the investors with weak constitutions. For $300M, they sold the two patents to Roche, turned the company over to Chiron, and walked away. Kary Mullis won the Nobel prize for his invention embedded in these two patents, known as polymerase chain reaction (PCR) which allows DNA to be cloned. Over 4000 patents in biotech cite these original two patents. In our estimation, $300M represents "pennies on the dollar" valuation of these patents. The shareholders got a payday, and left the game. Roche on the other hand is thriving based on its intangible assets. Let IPstreet.com assist you.

There often comes a stage in a patent's life when a proprietor asks the question how much is my patent worth? The reasons for asking this question may vary dramatically. IP Street is the right place to help you better understand what your invention is worth and help you capitalize on your innovation by providing actionable business intelligence.

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.

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.

In the U.S., the inventor has a "first to invent" claim which is different from other patenting organizations throughout the world who generally utilize "first to file." Debate over this issue, and which model best influences economic development is ongoing. Some are concerned that a change in patent rights may harm the small startup and benefit the incumbents with deeper pockets. You can read more about this topic.