Patent infringement can cost companies millions of dollars in lawsuits and fees. Understanding if an invention infringes upon your patent is important for deciding if taking legal action against the infringing party is necessary. If a competitive company was interested in making an invention to do or solve the same problem as your invention, would it be possible without infringing on your patent? In a few paragraphs (300-400 words), describe how different another company would have to make their product in order to meet the same need as your invention. In our example invention of a bracelet that vibrates when cookies are perfectly cooked, a competitive company may have had to go as far as to make a belt or a ring that vibrates when cookies are perfectly cooked, or indicate in a different way than vibrating if the mechanism itself is covered in the patent. Remember their invention cannot infringe your patent or any other prior art you have submitted.
Length: 1 page
A big cooperation has contacted you about the invention you have patented. They are interested in obtaining the intellectual property rights for your invention. In a few paragraphs (300-400 words), describe if you would be interested in licensing or assigning your patent to the company. What are the advantages and disadvantages of each? Would you be about to sell your IP to other companies? Please review the online video on licensing vs. assigning.
Length: 2-3 page not including title and reference pages
Your paper should demonstrate thoughtful consideration of the ideas and concepts that are presented in the course and provide new thoughts and insights relating directly to this topic. Your response should reflect scholarly writing and current APA standards. Be sure to adhere to Northcentral University’s Academic Integrity Policy.