Patent and trademarks: securing and protecting your intellectual property rights.

• Position: How-To GUIDE

Protecting the ideas, technology and branding that drive your company is critical to entrepreneurs starting a new business or launching a new product. Patents and trademarks, for example, can add significant value to your company. Obtaining timely advice as to these and other intellectual property tools can help you maximize the return on your investment. That's why it's important to find an attorney experienced in these areas--one who can help you create a valuable intellectual property portfolio and avoid pitfalls that await the unwary.

WHAT IS A PATENT?

A patent is like a fence around your invention. For a limited time, it allows you to prevent others from trespassing on your invention by making, using, selling or importing the invention claimed in the patent. Such a fence can provide tremendous market advantage, because it can be used 1) to prevent competitors from using your invention, 2) to generate income through licensing, or 3) as a bargaining chip to negotiate with competitors who have their own patents. If your patent fence is to be useful, it must be carefully designed so that it protects your invention broadly, but also focuses on the particular features that differentiate you in the market and are important to your customers. A patent on technology that is novel, but that no one wants to buy, adds little value. It is imperative that you and your lawyer discuss what it is about your invention that is new and what makes it important in the real world. Similarly, it is important to strike the right balance as to the breadth of your patent claims. If drawn too narrowly, competitors may design around your patent. If drawn too broadly, the patent may be invalid. A carefully crafted and well thought out patent is much more likely to be effective against trespassers.

If you have what you believe to be an invention, select and talk to an experienced patent lawyer immediately. Carefully date and document development of the invention and have that documentation witnessed by a trustworthy colleague other than the inventor. Keep the invention confidential or you may lose valuable rights, both in the U.S. and internationally. Your lawyer will give you...