Legal Contracts From The Cloud?

Business owners, investors and bankers consider Intellectual Properties and the products associated with those Properties to be both intangible and tangible assets. Because these assets are the lifeblood of many companies, it is wise to use a seasoned professional to prepare your Intellectual Property agreements.

Cloud Intellectual Property Contracts

With the intent of saving money, sometimes a business drags a contract for intellectual property out of the Cloud.  On rare occasions, the Cloud strategy may be adequate for the business. (This is especially true if the agreement is never challenged.)

If, however, you pull a contract off the Internet and it IS challenged, you may find yourself in an expensive legal quagmire. More importantly, you may lose the challenge along with your rights to your Intellectual Property.

Patents, Trademark and Copyright Agreements

When Intellectual Property contracts are prepared, each genre has its own eccentricities. For example:

  • Contracts associated with Copyright rights frequently include the phrase “all rights reserved.”
  • In many jurisdictions, the sale or license of Trademark rights must also include the goodwill associated with the Trademark.
  • License agreements flowing from Patent rights should generally include royalty milestones, among other things.

Intellectual properties are unique and the facts associated with each Intellectual Property agreement are also different. A well-drafted contract takes time and expertise to prepare properly. This is not a “one-size-fits-all” legal situation.

What if something goes awry with the Cloud Agreement?

Having a knowledgeable, experienced patent attorney draft your agreement will reduce the number of questions that arise during a challenge — and will provide you a resource with the knowledge of your intellectual property should the need arise. Without the benefit of counsel it may be up to you to answer these questions:

  • Who will the tribunal hold is the drafter of the contract?
  • Can the contract be amended?
  • Is it possible to settle?
  • Will the parties mediate, arbitrate or litigate?
  • Which law controls the agreement?
  • Where is the jurisdiction and venue for any dispute?

You can hire an attorney after the fact to help you answer these questions, but it will be much more cost-effective to address these inside the original contract. Doing so will help keep your Intellectual Property secure with a defensible contract that is less likely to be successfully challenged.

The Best Solution

Many of the pitfalls associated with the preparation of Intellectual Property agreements can be avoided by using a seasoned patent attorney who is familiar the many different nuances associated with Patent, Trademark and Copyright agreements.

Contact Business Patent Law, PLLC and we will discuss the types of agreements you will need for your Intellectual Properties.

If you would like to stay abreast of changes and other news that impacts your intellectual property, sign up for Business Patent Law’s Monthly Mailer™ newsletter.

Intellectual Property Copyright Law Example

What Types of Property Can Accrue Intellectual Property Rights?

The Building Blocks of Your Business

Like many of their larger Fortune 500® counterparts, most creative companies know intellectual property is their most valuable asset. Intellectual property rights are essential in the legal exclusion of competition. Endeavors thrive because of their intellectual property, and due to Treaties enacted by many of the World’s governments, creative intellectual property owners often find the privileges and monopolies flowing from their Patents, Trademarks and Copyrights to be global in scope.

Protecting Your Products

Creatives with business savvy understand the importance of excluding competitors from competing directly against their product or service. In today’s far-reaching marketplace, only the most resourceful people have any hope of surviving the assault of their cheapest cutthroat competitors.

In the end, most creative start-ups find their intellectual property assets are the lifeblood which sustains them against the onslaught of larger and better financed rivals. History is replete with examples of this reality. At the same time, recent reports demonstrate Wall Street investors reward creative entrepreneurs, who are well-endowed with valuable intellectual property holdings.

Patent rights are excellent assets.

What Property Can Be Protected?

What kind of property is sufficiently creative to be protected by intellectual property rights? Business Patent Law, PLLC offers the following criterion to appraise the potential value of owning Patents, Trademarks and Copyrights.Continue reading

Leahy-Smith America Invents Act changes Patent Law

5th Anniversary of the America Invents Act (AIA)

The Leahy-Smith American Invents Act was signed into law five years ago today. This legislation changed the legal landscape of patent system in the United States.

Prior to the America Invents Act, the United States was “first to invent” nation – meaning that the first person to invent the invention was presumed by the United States Patent and Trademark Office (USPTO) to be the inventor.

Pursuant to the America Invents Act, the United States is now a “first to file” nation – meaning that the first person to file the necessary documents in the USPTO is presumed by the USPTO to be the inventor.

Because of the Leahy-Smith American Invents Act, more and more of my clients are opting to file Provisional Patent Applications.  Under the America Invents Act, filing Provisional Applications eliminates some of the pitfalls that were not a problem for Applicants prior to 2011.

Proponents of the Act say this law streamlines the process and encourages an increase in domestic innovation. Opponents of the Act have claimed that the changes favor large business over micro-businesses and the individual inventor.

To learn more general information about the changes implemented by this law, contact Business Patent Law, PLLC and we will discuss how these rules apply to your inventions.

If you would like to stay abreast of changes and other news that impacts your intellectual property, sign up for Business Patent Law’s Monthly Mailer™ newsletter.