Patent Litigation Financing: Everything You Need to Know Patent Litigation: What is it? Patent litigation, generally referred to as patent infringement, involves legal proceedings brought by the injured party for the use, copying, or sale of the injured party’s invention. Essentially, the inventor is alleging that the defendant illegally used, copied, or sold the invention without the express approval of the inventor. Overview Patent litigation financing has its risks. The more complex and larger the patent litigation suit is, the greater the financial risk. And like any finance company, third party funding companies are always looking to maximize financial outcome with the least amount of risk. Investors want to find value in what they are investing in and not …show more content…
Based in New York City, this is the U.S. branch of the Australian litigation funder IMF Bentham. It was launched in NYC in 2011. Pros and Cons of Patent Litigation Financing Patent litigation is risky and costly. Notably, the average patent lawsuit in the U.S. costs roughly $3 million in attorney fees alone. Additional fees, inclusive of discovery, expert witnesses, court reports, etc. can add an additional $1 million. A newer solution for those unable to fund their own suits is something called “third party funding.” Common candidates include individual inventors, small entities, and universities as they generally don’t have the financial resources to self-finance a patent suit. Before considering this option, you’ll first want to consider the factors associated with receiving funding and going through the process of patent litigation. One reason that patent litigation is so risky is that, if the defendant in the suit can find some sort of similarly situated prior product that was created before your patent was obtained, then a court may find your patent invalid after the fact. Thus, you’ve now spent money on obtaining the patent as well as investing in a third party to fund the
The patent system grants an exclusive right of manufacturing, selling, and profiting from a specific invention. It is designed with the purpose of providing advance research and development and to encourage broader economic activity; however, complete disclosure is required in exchange for the twenty year protection to become monopoly.
Lehman, Bruce. 2003. “The Pharmaceutical Industry and the Patent System”. International Intellectual Property Institute. Pages 1-14.
There are many different areas of law that require practice. Perhaps one of the most exciting areas of law is civil litigation. There are many different kinds of litigation that fall
Michael Crichton in “Patenting Life”and John E. Calfee in “Decoding The Use Of Gene Patents” discuss Gene Patent. Although the authors agree that the test for cancer is too expensive, the authors have different views about how much each patient should pay for medical expenses and who should get the better treatment by the cancer they have. Gene patents is very dangerous, but also very expensive to care for unfortunately. Test for breast cancer now costs $3,000 “Crichton”(441). Now because of it costing so much, they have had six lawsuits by 2008 “Calfee” (445).
Trademark, Property, and Restitution." Harvard University. Harvard Journal of Law and Technology, 2010. Web. 26 Feb 2014. .
Solving the invention market failure is the less daunting problem of the two as existing intellectual property regulations, like patent law, already do this to a significant degree. However, the positive environmental externality market failure presents new difficulties for intellectual property law. Solving externality problems require internalizing the costs and benefits of externalities. Patent law must bring environmental innovators’ incentives to innovate in line with the actual societal or environmental value of their potential inventions. Placing private innovators’ incentives in accord with the social value of innovation will lead private innovators to engage in the socially or environmentally optimal level of
...ile a lawsuit against the government. The government is trying to do this to create budget cuts due to the fact that they could be investing the money elsewhere.
Both passengers of the vehicle have currently filed suit against the company for compensatory damages. Compensatory damages are intended to provide relief to the affected individuals. The driver of the vehicle has suffered a back injury which prohibits him from participating in military training. This has directly resulted in his inability to deploy so he can sue the company for the money that he would have received had he deploye...
...federal trademark application will be at risk if the same project/product that has same set of rules and output and was filed in US federal trademark.
An opponent of our current patent law and system may make the argument that absent our intellectual property rights, innovations and discoveries would more closely exhibit the characteristics found in “pure public goods” such as national defense and education7. These examples are non-rival in consumption, there is enough to go around for everybody, and they are also non-excludable; no one is prevented from enjoying the good7. What these critics of our system fail to acknowledge is that an inventor could possibly bear the cost of making their discovery while everyone benefits on this free ride and prevents the original developer from ever recovering their initial investment of time and money. This flaw in the competitive system we would have absent IP law would potentially discourage some pioneers from their R&D. This would indicate that in some instances of innovation, the short-term monopoly provided by our patent law is a necessity to provide adequate incentive. The pharmaceutical industry is the poster child for this necessary protection provided by patents. In this sector, and to...
On March 20, 1984, the patent was issued. Defendants Golde and Quan were named as the inventors and Defendant, Regents, were named as assignee.
...to work around. In a 2002 case, Madey v. Duke, the Court of Appeals for the Federal Circuit made it clear that academic institutions could be held liable for patent infringement even in a nonprofit research.
The name of my company is ELECT Services, LLC, which is an acronym for Electronic Legal Educational Clinical Transcript Services. I protected my idea with an internet patent. My premise being that it is common for many legal, educational and medical systems to be back logged due to large volumes of information being handled. There is a lack when it comes to the proper storage and distribution of informational reports also known as transcripts. Many institutions utilize different systems and as such, it is often difficult to transfer information from system to system. Typically, information must first be extracted from the original system and then sent to a second system. This information must then be re-entered into the second system in a new format. This conversion process from one system to another takes time and as a result there is a period of delay from the time a document is sent from one system, to the time that the document can actually be accessed in a second system. While the individual systems
afford it. The claim can easily be countered because an individual can find ways to incorporate
Patents claims focus of the mechanism, principles and components surrounding those ideas. Patents are the strongest of the law to protect the intellectual property. Patent law is based on a very strict liability standard, making a business owner’s strongest option for intellectual property protection. Patents often make use of reverse engineering. Through reverse engineering, they see if patented inventions are in used by another company. Patents have an expiration date; the design patent protect design, shape, configuration and appearance of any invention for 14 years, and utility patents that protect functional makeover and new invention last for 20