Follow Russell Linkedin Twitter Facebook
Email Russell Email
Legal Issues
Mar 4, 2019

Why Should I Bother Getting a Patent?

Sponsored Content provided by Russell Nugent - Attorney, The Humphries Law Firm

Entrepreneurs are often dissuaded from trying to get a patent on their invention for a number of different reasons.

Foremost is the concern that a large company can steal the invention forcing the inventor into expensive litigation. However, most large companies innovate on their own and will license or purchase the rights to inventions of others rather than stealing them and risking expensive litigation and bad PR. In addition, those companies are aware that there are patent attorneys out there that will take a patent infringement case on contingency if they think the case is strong enough and the pockets of the defendant are deep enough. 

In the end, it is rather risky for companies to blatantly steal a patented invention and start selling it on their own, even if they are stealing the invention of a smaller company or an individual.

Furthermore, theft is frequently an indication that the product is successful. If the product is making money, then the owner can likely fund a lawsuit against a competitor that is about their size. Moreover, investors and large companies are more likely to purchase the rights to an invention when it is embodied in a product that has a proven sales record. 

Inventors are able to license technologies to larger companies and many successful startups have this goal in mind from the beginning. Some inventors are able to successfully license their technology prior to obtaining patent protection. 

It is also true that competitors may own patents to competing or similar technologies, thereby blocking a patent owner from practicing their invention. This frequently happens when the inventor owns a patent on an improvement of an invention that is already subject to a patent that is still in force.

Basing your business around an improvement of another’s technology will require cross licensing. Freedom to operate searches can determine whether this is a problem prior to a patent application being filed. 

In addition, some people criticize patents as being too narrow to be of any use. However, if the patent covers the aspects of the invention that the inventor wants to commercially exploit, then it can be extremely useful to the entrepreneur.

The reality is that if a patent’s claims do not cover the portion of the invention that the inventor believes is most valuable, then it likely is not worth having. Some inventors are more focused just on getting a patent rather than making sure they obtain a patent that covers what they need it to, and those people are likely wasting their money. 

The focus of a patent strategy should be to protect core technologies that give the company a competitive advantage. Patents can be very useful business tools when they are part of a focused business strategy.  Entrepreneurs that are considering applying for a patent would do well to plan carefully and consult with a professional regarding their strategy early on.

Russell is a native of Wilmington, N.C. and has been practicing law in Eastern N.C. since 2004. Prior to that, he worked in Chapel Hill and Durham as a research technician on teams exploring RNA-based gene therapies, viral fusion inhibitors, and the role Galactocerebroside plays in protein localization near nodes of Ranvier. After passing the patent bar in 2003 and becoming a registered patent agent, Russell received his law degree from Georgetown in 2004. He began his legal career representing clients in personal injury matters but later left personal injury to provide patent prosecution services to law firms in China and Taiwan prior to joining The Humphries Law Firm in 2014. Russell helps individuals and businesses protect their innovations, creations and business information using strategies based in patent, trademark, copyright and trade secret law. His work includes both strategic planning and dispute resolution. He assists clients who want to buy and sell businesses, and license or transfer their intellectual property assets. Russell also assists with the firm’s litigation practice, particularly in insurance and employment disputes.

Humphries 18blk nov
Ico insights

INSIGHTS

SPONSORS' CONTENT
Untitleddesign7

Understanding Collections Policies in Your HOA (Without Losing Sleep Over It)

Dave Orr - Community Association Management Services
Jasonpathfinder3

Unlocking the Full Potential of Your Executive Compensation Package

Jason Wheeler - Pathfinder Wealth Consulting
Katrina 262543331

Breaking Ground on SECU The Sparrow: A New Chapter in Ending Chronic Homelessness

Katrina Knight - Good Shepherd Center

Trending News

Better Business Bureau Recognizes Two Wilmington Companies

Staff Reports - May 13, 2025

Davis Named CFR's Government Affairs Director

Staff Reports - May 13, 2025

Kent Homes Earns Guildmaster Award

Staff Reports - May 13, 2025

Wilmington-based Outdoor And Adventure Education Center Earns Accreditation

Staff Reports - May 13, 2025

Port's Intermodal Rail Yard Project On Track For 2026 Completion

Emma Dill - May 12, 2025

In The Current Issue

Greek Festival Spices Up Event

The first official Wilmington Greek Festival was established 32 years ago when church members Basile Katsikis and John Saris proposed creati...


CEA Manufacturing + Distribution Winner: Firm Focuses On Versatile Structures

Modular spaces from Wilmington-based company Infinite Structures appeared this year at the Super Bowl, Coachella and at the bottom of the ha...


Projects Give Town A Sand Infusion

Town officials said the improved channel will enhance navigation for both commercial and recreational boaters, along with the advantages of...

Book On Business

The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2024 Power Breakfast: The Next Season