Report on Evaluation of assigning and licensing of a patent

The utility patent is provided for the entirely new as well as innovative items. The patent can also be composed for the already existing products and devices. If someone finds new and suitable variation in the process of production and designing of devices and product it can develop patent without infringement. In the United States, the non-obvious and new products may be patented and new patent for the already existing product can also be considered without any patent infringement. According to criminal law, the conspiracy can be defined as an agreement that is ensured between two or more individuals. In the case where patent infringement is not considered as a crime then there will be no conspiracy of infringement. In this situation, the question "Why is patent infringement is considered as only IP offence by not having any criminal consequences" can be answered by considering the willful disregard. The consideration of willful disregard includes rights of the inventor, courts that might impose treble damages. The treble damages are the triple damage that is suffered by the aggrieved party.

The legal costs of the product can be exorbitantly high. There is no specific rule for the percentage of modifications to avoid patent infringement. Technically speaking, patent infringement is not the way how your product is different from the patent. In the real sense, sometimes the product may seem different but will be considered for the infringement claim. The other companies can follow different routes to reach the outcomes that are according to the requirements. In the case of vibrating devices in the cooking. One can introduce an alarm system that works based on time and temperature of the product. Such type of devices that work on a different basis cannot infringe out product and patent.

Response to big cooperation

Bringing a new and an innovative product in the market is not an easy work. It takes time to find the solution and possible new devices that can overcome the challenge of previous work. Filing a patent prevents the invention from being copied. The process is costly and quite vast in which patent is granted and the next step is to commercialize it to avoid any patent infringement and reap best benefits. The patent production can contribute a crucial role in the development and sharpening of product competitive edge in the market. Patent licensing is a complete process to keep the idea and product save. The patent licensing is a revocable agreement that is developed between the owner of the patent and license for the transfer of interest. The patent licensing mention who can get benefit from intellectual property rights.

Our product is self-healing concrete and the invention will change the construction process in the manifold. The special concrete mix is produced by different constituents and it will be useful to heal the cracks automatically. The working process of the material is based on the deterioration and the process is done by itself. The licensing of the product will be under the regulations and rules of the University's Academic Integrity policy. Due to efficient and effective outcomes of the product, several big cooperation has contacted the researchers to be considered in the patent. The companies are interested in obtaining intellectual property rights for self-healing concrete. Before having finalized decision, it is important to consider advantages and disadvantages of assigning the patent and licensing the patent to the company. 

In the license agreement, the owner of the patent provides the entity and permission to use the technology of patent and the owner of the patent retains the ownership. On the other hand, in case of patent assignment, the original owner transfers the ownership permanently to another company or entity. Considering both possibilities, it would be better to consider patent licensing so that after further research we can modify the application for better results. Before finalizing the decision lets consider the advantages and disadvantages of patent licensing.

Advantages of patent licensing

1.      Sharing the patent licensing will generate profits and we will have rights of the invention.

2.      The manufacturing of self-healing concrete can be expensive and there is a high level of risk, but patent licensing will eventually transfer risk to the other company.

3.      It is not possible to produce self-healing concrete on a large scale and big companies can produce and distribute the product in the bigger market.

4.      If someone other will infringe the patent, it will be difficult to sue because suing will be expensive therefore instead of using it is better to consider the option of patent licensing so the company will take care of all the issues.

Disadvantages of patent licensing

1.      Being an owner of a patent can generate profits and it will provide rights of intellectual property. The licensing process will be part of the business.

2.      Another issue is the low success rate because getting a license is not an easy process. It happens many times that inventors who want their license fails to remain unsuccessful.

IP selling consideration

IP signing is an employment agreement that can be signed in our case. The IP selling consideration will consider the advanced assignment of any IP that is generated by the company. The working will be under the obligation to disclose the specially designed IP that can be used by the resources of the company.

Conclusion of Evaluation of assigning and licensing of a patent