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- Selling a patent allows the inventor to generate income that will help pay the bills or finance other promising ideas. Selling a patent outright also eliminates the huge financial outlay required to start up a business based on a new product.
www.legalzoom.com/articles/selling-your-patent-what-you-need-to-know
You can sell them, license them or use them as assets to attract funding from investors. The invention must be: New: first in the world. Useful: solves a problem. Non-obvious: to a person skilled in the relevant field. Note: Some inventions may not be patented in Canada.
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- Canadian Patents
- What You Can Patent
- What You Can't Patent
- Patents Protect Your Intellectual Property
- Patents Fuel Progress
- Patents Can Be Valuable
- Use A Patent Agent
In Canada, the first applicant to file a patent application for an invention is entitled to obtain the patent. You should file as soon as possible after you complete an invention in case someone else is on a similar track. The rights given by a Canadian patent extend throughout Canada, but not to other countries. You must apply for patent rights in...
Patents apply to inventions. An invention is eligible for patent protection if it is: 1. new—first in the world 2. useful—functional and operative 3. inventive—showing ingenuity and not obvious to someone of average skill who works in the field of your invention The invention must also be: 1. a product (example: a door lock) 2. a composition (examp...
Some things that can't be patented include: 1. disembodied ideas, concepts or discoveries 2. scientific principles and abstract theorems 3. methods of medical treatment or surgery 4. higher life forms 5. forms of energy 6. features of solely intellectual or aesthetic significance 7. printed matter For details on what you can't patent, see Chapter 1...
Protection against infringement
Patent infringement happens if someone makes, uses or sells your patented invention without your permission in a country that has granted you a patent. If you believe your patent has been infringed, you may sue for damages in an appropriate court. The defendant may argue that infringement did not occur or may attack the validity of your patent. The court will decide who is right based largely on the wording of the claims. If what the defendant is doing is not within the wording of any of the...
Protection before and after grant
When you have a Canadian patent, you'll possibly be able to sue infringers for all damages that occurred after your patent was granted. Also after the grant, you may sue for "reasonable compensation" for infringements that occurred in Canada between the date your application was made available for public inspection in English or French (normally this is 18 months after the filing or priority date) and the date your patent was granted.
Patent marking and "patent pending"
The Patent Act does not require that articles be marked "patented"; however, in Canada, marking an article as patented when it is not is illegal.Footnote 1 You may wish to mark your invention "Patent applied for" or "Patent pending" after you have filed your application. These phrases have no legal effect but may warn others that you'll be able to enforce your exclusive right to make the invention once a patent is granted.
When you apply for a patent, you must provide a full description of the invention so that others can benefit from this advance in technology and knowledge. Patents are a way for people to share cutting-edge information. Each patent document describes a new aspect of a technology in clear and specific terms and is available for anyone to read. This ...
Patent protection applies in the country or region that issues the patent. In Canada, a patent lasts for 20 years from the date that you file it. Patents can have a great deal of value. You can sell them, license them or use them as assets to attract funding from investors.
Most experts agree that inventors should use the services of a registered patent agent to help with the complexities of patent law. In fact, more than 90% of patent applications are filed with an agent's support. Find a licensed patent agent Resources 1. Patent factsheet 2. Free online learning: Patents – Learn the basics 3. Patent fees 4. Canadian...
Sep 19, 2024 · Discover the key steps to sell your patents to big companies. Understand your patent's value, prepare a strong sales pitch, and engage in a lucrative negotiation.
Mar 24, 2023 · To profit from your idea, you must sell the patent, license usage rights, or market the product yourself. Months of tinkering and experimenting have turned your idea into a viable product. After a successful patent search and application process you've gotten a patent for your invention.
- Beverly Rice
innovators. creators. Canadian small and medium-sized businesses. In this module, you will learn: what a patent is. which inventions are patentable. how patents can be a valuable business asset. the steps involved in filing a patent application. best practices on managing your patent portfolio.
Jun 10, 2024 · A well thought out patent strategy includes selling your patent for a lump sum, licensing it to others for recurring royalties, or using it to commercialize and sell the technology yourself. Each option has its own set of benefits and can be tailored to fit your strategic long-term objectives.
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Jul 31, 2023 · A Canadian patent grants its owner the exclusive rights to make, use, and sell an invention in Canada, as defined in the claims of the patent, for a period of 20 years from the date of the application.
