Intellectual Property Day is celebrated on April 26th. It is a special opportunity to raise awareness about the importance of intellectual property rights in promoting innovation and creativity. At Lerman & Szlak we believe it is essential to develop an effective strategy to protect your intellectual property assets and thus strengthen the competitiveness of your business.
If you have an invention that is a new and inventive solution to a technical problem, an innovation that offers an improvement on the state of the art, it may be protectable by a patent.
But why patent? A patent gives you a property right that has the following advantages:
– Competitive advantage: it entitles you to exploit the invention commercially (commercialize, transfer, license) and exclusively during the period the invention is protected.
– It allows differentiation and protection from competition.
– It has value as an Advertising Document: Even in some industries the Company is better positioned to obtain investments when it has its inventions patented.
– It generates a better return on investment: Income derived from licensing royalties.
In order to be patentable, the following requirements shall be met (i) novelty; (ii) inventive step; and (iii) industrial application. The novelty requirement is irreversibly lost when the invention has been made public, that is why before making any communication or making your invention public: WAIT! Get advice on whether you can -and should- protect it by a patent or other right.
For further information or if you need to contact us, you can do so at Info@lermanszlak.com