IndustryWeek:
How do you prevent competitors from obtaining patents that could block you from using your own innovative ideas in your products and services? This critical question faces managers of innovation and intellectual property throughout the global economy, which is increasingly embroiled in a hotly contested patent race.
Issued patents can be deadly. Enterprises of all stripes face burgeoning risks that competitors will obtain blocking patents. Even strong manufacturers with worldwide distribution, well-branded products and adoring customers can be stopped dead in their tracks by broad competitive patents.
Just how deadly are competitive patents? Consider this, if your competitor is granted a patent broad enough to prevent you from making or selling products and services, you may be forced to litigate. Average legal fees to defend a patent case are over $1.5 million regardless of the outcome. Verdicts and judgments in patent cases can easily exceed eight figures. Even greater costs can be incurred in attempting to design around competitive patents after product launch, or being shut down by a preliminary or permanent injunction.
There are myriad methods for protecting innovation and intellectual property.
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