Patents have a maximum life of 20 years and, therefore, a 20-year potential monopoly. Patents that are just beginning their life and which have longer to run on the their potential monopoly position understandably will have more value. It is rare that a patent nearing the end of its term will cause a great threat to its competitors. It is almost certain that they will have devised technologies or products of their own by then that will not interfere with the patent owners monopoly position. In addition, one has to take into consideration the potential business life of a patent, i.e., the duration, which a patent is likely to be economically useful, if other subsequent patents are providing better alternatives to it.

If the complexities of legalities seems simple, you may want to consider becoming a patent agent or patent attorney. If you are a do-it-yourselfer (DIY), you may want to get David Pressman's book "Patent it Yourself" or David Hitchcock's book "Patent Searching Made Easy". If you are like the rest of us, this process does not seem simple. Sure it may cost some money to engage someone to guide you through this process, so you need to carefully consider your innovation in context of (1) is it patentable? and (2) is it a viable business opportunity? It may, however, be in your best interest to learn as much as you can about the system and then hire a competent patent attorney to get the job done. Just think what it would cost to great idea, poorly patented, which may ultimately cost you "like a bigillion dollars in lost royalties or something like that."

With IP Street, you can do advanced boolean searches smarter and quicker. Additionally, based on our Discover paradigm of Search, Review, Refine, and Iterate we enable you to filter your results and search again.

A plant patent covers asexually reproducible plants (that is, through the use of grafts and cuttings), such as flowers. Sexually reproducible plants (that is, those that use pollination), can be monopolized under the Plant Protection Act. Both sexually and asexually reproducible plants can now also be monopolized by utility patent. Plant patents are comparatively recent innovations, the first one being granted in 1930. A plant patent is granted by the Government to an inventor (or the inventor's heirs or assigns) who has invented or discovered and asexually reproduced a distinct and new variety of plant, other than a tuber propagated plant or a plant found in an uncultivated state. The grant, which lasts for 20 years from the date of filing the application, protects the inventor's right to exclude others from asexually reproducing, selling, or using the plant so reproduced. This protection is limited to a plant in its ordinary meaning: (1) A living plant organism which expresses a set of characteristics determined by its single, genetic makeup or genotype, which can be duplicated through asexual reproduction, but which can not otherwise be "made" or "manufactured." (2) Sports, mutants, hybrids, and transformed plants are comprehended; sports or mutants may be spontaneous or induced. Hybrids may be natural, from a planned breeding program, or somatic in source. While natural plant mutants might have naturally occurred, they must have been discovered in a cultivated area. (3) Algae and macro fungi are regarded as plants, but bacteria are not. A utility patent would be filed for claims to plants, seeds, genes, etc. According to the USPTO, there were 959 plant patent applications filed in 2009.

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.