
For start-up companies such as university spin-offs, medical device patents are crucial to grow the business to, for example, become an attractive target for acquisition.
Here’s why patents matter in this industry:
Investors Often Require Patents: Strong IP protection reassures potential investors and stakeholders of the value of your innovation and the ability to stop copyists from making your identical device and undercutting you on price.
Patents Bring Market Exclusivity: Patents grant their owners the right to exclude others from making, using, or selling your inventions. Patent holders have a seat at the table, where they can negotiate license agreements with third parties that may arise from market interest in your proprietary technology.
Patents Boost Reputation: Patents bring creditability to otherwise unknown and nascent businesses.
Here’s what a Medical Device Patent Attorney can do for your business:
Developing a Comprehensive Patent Strategy: Effective counsel collaborates with you to develop an intellectual property portfolio – including US and foreign patents – that is strategically aligned with your long-term business goals and is cost effective. This approach will create a product driven, strategically aligned patent portfolio that will maximize market and bottom-line benefit.
Patent Portfolio Management: Advising on the management and commercialization of IP assets to maximize their value over time while minimizing costs. Oftentimes, it may be advisable to license patents to third parties or to allow patents coverage to lapse that has not penetrated the marketplace or been superseded by new developments.
Risk Mitigation: Patent counsel can keep up with your competitors’ patent filings to keep you from inadvertently infringing on third party patent rights as you develop new products and new versions of old products.
Litigation: Effective patent attorneys can enforce patents and defend against accusations of infringement in federal court. Their business, technical, and legal chops bring to bear creative solutions and early resolutions that are less evident to attorneys without the technical savvy to back up their legal prowess.
Working with Panagos Kennedy PLLC on Your Medical Device Patents
Troy-based Panagos Kennedy PLLC can help you identify what is patentable about your new medical device, seek protection, and advise you about developing a cost-effective international filing strategy. Our patent attorneys with medical device experience can help you stay focused on what matters most to your company’s future. Visit our website to schedule a consultation.
Comentarios