Every organization in Florida should understand how to develop, protect and enforce their intellectual property including patent, trademark and copyrights. Accordingly, we address some frequently asked questions on patents in our answers below:
Since 2007 Florida companies pay no taxes on intangibles assets such as patents.
A litigation-grade patent (one that has real commercial value) runs anywhere from $12,000-$20,000 depending on the technology, complexity of the invention and the objectives of the patent owner. Prior to initiating the patent process do the math first. It should be abundantly clear that patenting the technology will likely produce an ROI far in excess of the administrative costs to secure patent rights. These include marketing value, restriction of competition, licensing revenue and company valuation.
A utility patent can issue as early as 4-6 months if fast-tracked with a cooperative patent examiner. A fast-tracked design patent can issue in 3 months. We highly recommend accelerated examination. However, typical patent filings take 18-24 months.
The obvious factors are experience, education and technical background (what to look for). However, sought-after patents attorneys want to enjoy the technology and working with the inventor. Additionally, have at least an initial phone call and see if the patent attorney can follow your technology. Do they “get it?” In other words, seek the “best fit” over paper credentials only.
Why Hire a Florida Patent Attorney?
Patents are governed primarily by federal law. However, there are numerous state-based laws in Florida relating to patents. Hiring a patent attorney based in Florida is important for another reason. For example, many patent disputes have elements of unfair competition, deceptive business practices and other state-law claims. An out-of-state lawyer is not authorized to practice law in these areas. Accordingly, if the business and operations are in Florida, hiring a Florida patent attorney to secure and enforce intellectual property protection.