Managing Intellectual Property in a Crisis (Part 3); JDSupra, April 8, 2020

Joseph Falcon, III, JDSupra; Managing Intellectual Property in a Crisis (Part 3)

"The most common danger of ignoring intellectual property is the loss of business opportunities, because the business owner was not attentive to whether those opportunities were worth pursuing. For example, an issued patent requires maintenance fees periodically through the life of the patent. Failure to pay a maintenance fee will cause the patent to expire. The business owner must make an informed decision as to whether or not maintaining that patent is in the business’ best interests. On the other hand, the unnecessary payment of a maintenance fee may result in a lost opportunity to invest those funds in new projects or patents. It is therefore critical to maintain a portfolio of patents which is driven by the business’ needs, strategy and long-term goals."