Do you know if you use someone’s intellectual property in your product/service or other business activities, it can create a lot of problems in the future? Yes, this is true. No matter the industry your business belongs to; whether it is automobile, healthcare, education, information technology, online services, or entertainment, you need to be familiar with the term “IP INFRINGEMENT.”
A patent is an exclusive right granted to the inventor to exclude others from making, using, or selling his technologies. IP infringement refers to an activity of using patented technologies without permission, and in such case, the patentee can take legal action against the infringers. The IP protection is valid for 20 years from the issue date.
Let’s take an example. Suppose, you invented a small toy, and you want to earn money by selling the units in your country/region. Would you allow your neighbors to manufacture the similar or updated versions, and sell in the market? Of course not. Patenting your idea allows you to utilize your idea the way you want to, and stop IP infringement activities. If you still found copycats, you can file IP infringement case, and get royalties.
If you can’t allow someone to use your innovative idea, why would others allow you to do so? If you use someone’s intellectual property, you can be sued in the court. Thus, when developing a product/service or planning any business strategies, always make sure you are not doing any kind of patent infringement.
This is a common question, which almost every business person has nowadays. Patent infringement doesn’t mean that you intentionally steal someone’s IP rights. Suppose, you developed a product/service, which uses the same design, concept, technology area, working principle, etc. on which someone holds patent (but you don’t have knowledge about that). If you bring your product/service in the market, you will be liable for patent infringement.
Every patent has a claim section, which describes the scope of the invention, area of IP protection, etc. By studying claims, you can know whether you are infringing IP rights of a patentee. But, there may be a wide range of patents in your country/region, how do you check IP infringement? Get FTO Analysis!!!
FTO is abbreviated form of Freedom to Operate, and it helps determine if you are free to establish your business operations or launch a product/service in a country/region without doing any IP infringement. The FTO study provides complete details about the patents (in the given country/region) with technologies like yours.
FTO analysis allows you to:
The product development process is not simple, and require a lot of time and money. If your product infringes the patented technologies, you can’t get the benefits worth time and money invested. So, get FTO analysis done on your product/service before launch, avoid patent infringement in the future.