A study published by Boston University in 2012 found that over $29 billion of direct costs were generated by patent troll patent assertions. Further, it is estimated that these costs ballooned to over $80 billion, once the stock market reacts to such litigation. “Patent trolls,” or Non-practicing entities (NPEs), can be either a company or individual who essentially purchases patents, but has no intention to develop and market a product arising from that patent.
The U.S. Patent and Trademark Office (USPTO) has been in the news lately regarding reform and how we can overhaul the process for patents to ensure that it is fostering innovation and not stifling it.
As it is today, the US patent and trademark office issues patents that have terms that are too broad and vague, give patents for too long, and require too much effort to understand. The way things are working now it is all too easy for patent trolls to take advantage of a patent for monetary gain than it is for inventors to get the protection they need and deserve.
Late CEO of Apple Steve Jobs has been in the news lately for the large number of posthumous patents that have been won. A total of 141 patents have been awarded to Steve to be specific. The brilliant mind of Jobs are still being realized since his death in 2011.
Even before you establish a brand, there are steps you can take to protect your intellectual property.
Part of the International Trade Commission (ITC)’s job is to protect U.S. industry by monitoring foreign imports. The ITC can prevent goods from entering the country—including for infringement of IP. And it can issue only one remedy for infringements—an injunction. No money, just exclusion orders that stop violators in their tracks. And this is exactly why legitimate businesses and questionable businesses alike have raced down the road to the ITC.
What does that have to do with money-grubbing patent trolls?
A major requirement for patentability is non-obviousness. However, tests for obviousness have changed as of recently. Through discussion of the Supreme Court case, MacDermaid v. DuPont, this article seeks to shed a light on obviousness and its effect on pharmaceutical patents.
Why get up and throw trash in the can, when you can toss trash anywhere and the can moves to you? The Smart Trash Can does just that, with help from a sensor and computer, the can knows where your trash will fall and moves by itself to catch the trash before it hits the ground. A Japanese engineer, Minoru Kurata, created the Smart Trash Can that uses a wall-mounted sensor to pick up the direction of the thrown trash.
A closer look at U.S. granted utility and design patents between 2005 and 2015.
The billion dollars app boom is far from being over! A recent study carried out by GIGAOM for the European Commission (https://ec.europa.eu/digital-agenda/en/news/sizing-eu-app-economy) shows how apps are going to substantially contribute to the future global economy and how app developers are going to take the global lead. It is important, for app developers, to know how to obtain protection for their ideas at first, and in the end for their developed apps.
An emerging push in India toward the patenting of cow urine may help shed a light on pharmaceutical patent policy and healthcare.
Originally posted 2016-03-28 20:32:23.
One of fashion’s newest trends is the utilization of 3D printing technology to produce custom made clothing, footwear, and jewelry. This is just one of the innovative ways that fashion designers have been changing the face of the fashion market. Martje Dijkstra, is a distinguishing Dutch fashion designer that incorporates 3D technology into her pieces in some groundbreaking ways.
Arx Pax founders Greg and Jill Henderson created a new way to get around, on a real working hoverboard. While there had been rumors in the past of hoverboard technology, this time it is patent pending. The Hendersons have designed a hoverboard called the Hendo, that uses a magnetic field to lift and propel users via magnetic field technology.
A closer look at U.S. granted foreign origin patents with origins in the seven major foreign nations: Japan, Canada, Italy, China, India, Russia, and Brazil.
Over the past two years, Russia has made some significant advancements in the patent law arena. After gaining independence, Russia enacted new patent law in the early 1990s. However, these laws remained antiquated and left Russia behind until 2008 when it finally became compliant under the TRIPS Agreement (The Agreement on Trade-Related Aspects of Intellectual Property Rights). TRIPS is an international agreement of the World Trade Organization. The Agreement covers a wide variety of covered types of intellectual property, and sets general guidelines for protecting the rights of copyright, trademark, and patent holders. In 2013 and 2014, Russia made two major developments in its patent law.