(28a) The Life and Death of a Patent

A patent’s life cycle can vary depending on a number of factors, such as its technological market, whether it’s evolutionary or revolutionary, defensive, or the predicate to an industry standard. This presentation would discuss the general requirements for obtaining a patent followed by a discussion of what happens next—whether it be patent enforcement, licensing, or defending a patent from a challenge at the United States Patent and Trademark Office. The presentation will also aim this discussion at patents related to process safety, engineering sustainability, and other substantive topics of the 2020 Spring Meeting.

Many companies, startups, or innovators seek patent protection without a clear plan to extract value. This presentation will provide guidance on the general requirements and procedure for obtaining a patent under 35 U.S.C. §§ 101, 102, 103, and 112.

Then, it will discuss what can happen to an issued patent:

• What happens when you enforce a patent, i.e., sue an infringer?
• Who can challenge your patent and how does that work?
• What happens when you license your patents?
• How does a patent become an industry standard and what does that mean?

The business strategy and monetary considerations of each of these events will be discussed, along with how they can be leveraged for effective, value-added outcomes.

Time permitting, the presentation will also discuss some other considerations for monetizing and managing a patent portfolio including seeking funding based on a patent, acquiring a third party’s patents, and selling parts of your portfolio.