How long does a patent last? A comprehensive guide
Learn the patent term for utility, design, and plant patents in the United States and internationally
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Do patents expire? How long is my patent protected once it is approved?
Yes, patents expire. The length of time for which a patent is protected varies from country to country, but in most countries, patents are granted for a period of 20 years from the filing date of the patent application.
Patent terms in the United States
In the United States, the term of a utility patent is 20 years from the filing date of the earliest nonprovisional patent application for the invention. Design patents have a term of 15 years from the date of grant. Plant patents have a term of 20 years from the date of grant.
Why do patents expire?
Patents expire because it is in the public interest to allow for the free use of inventions after a certain period of time. This allows other inventors to build on the patented invention and create new and improved products and services. It also allows consumers to have access to a wider range of products and services at lower prices.
How to extend the term of a patent
There are a few limited circumstances in which the term of a patent can be extended. For example, if the patent owner delays the issuance of the patent due to certain government actions, the term of the patent may be extended by up to five years.
What happens when a patent expires?
Once a patent expires, the invention enters the public domain. This means that anyone can freely use, make, sell, and import the invention without infringing on the patent owner's rights.
What are the benefits of having a patent?
There are several benefits to having a patent on an invention. First, a patent gives the patent owner the exclusive right to commercially exploit the invention for the term of the patent. This means that the patent owner can prevent others from making, using, selling, or importing the invention without permission.
Second, a patent can help to attract investors and partners. Investors are more likely to invest in a company that owns valuable patents, and partners are more likely to work with a company that has a strong patent portfolio.
Third, a patent can help to protect a company's competitive advantage. By preventing competitors from using the patented invention, a company can maintain its market share and profitability.
How to maximize the value of a patent
There are a number of things that patent owners can do to maximize the value of their patents. These include:
Market the patented invention. The patent owner should actively market the patented invention to potential customers and partners.
License the patented invention. The patent owner can license the patented invention to other companies in exchange for royalties.
Sell the patented invention. The patent owner can sell the patented invention outright to another company.
Use the patented invention to develop new products and services. The patent owner can use the patented invention to develop new products and services that can be marketed to consumers.
Conclusion
Patents can be a valuable asset for businesses. By understanding how patents work and how to maximize their value, businesses can use patents to protect their inventions, attract investors, and maintain their competitive advantage.
Information published to or by The Industry Leader will never constitute legal, financial or business advice of any kind, nor should it ever be misconstrued or relied on as such. For individualized support for yourself or your business, we strongly encourage you to seek appropriate counsel.
