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A Patent Reality Check: Litigation Not a Viable Revenue Source for Most Inventors

The ability of an intrepid inventor to strike it rich from a great idea seems to be embedded in the DNA of many Americans.  Perhaps this view emanates from the presence of patents in the US Constitution, which could create a feeling that US citizens have an "inalienable right" to use patent protection to their advantage.  Alternatively, people may perceive the occasional media reports of successful inventors and substantial patent litigation awards as a signal that patents can serve as a path to wealth for those with great ideas (certainly, this is the Hollywood view).  In truth, however, getting rich merely from a patent is a rare occurrence--maybe not as low a probability as winning the lottery, but the odds are incredibly long that any person can make money from a patented idea alone.  Think about it: if all it took was a patent to make someone wealthy, there would be

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Can Patent Strategy Be A Key To Help Preserving the Small and Mid-Sized U.S. Manufacturing Base?

On a recent business road trip up the Interstate 85 corridor between Atlanta and Charlotte, I was stricken by the large number of empty small and mid-sized manufacturing facilities lining the expressway. On the drive north to Charlotte, we passed a dozen or more large, but abandoned, industrial buildings with empty parking lots and "Available" real estate signs visible from the road. In a significant manner, these empty facilities demonstrate the debilitating effects of globalization on the formerly vibrant small and mid-sized manufacturing base that previously dotted the landscape of the U.S. After establishing the markets and building the customers for, as some examples, specialty plastics, packaging materials or electronics, these companies lost the "race to the bottom" on price against low cost foreign manufacturers and, as a result, went out of business. When these companies closed their doors, well-paying jobs, the owners' assets and the local tax base were

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Your Best Foreign Patent Strategy May Be a Strong U.S. Patent Strategy

Today, it is common for U.S.-based manufacturers to outsource manufacturing of their product line to countries with lower costs. Perhaps your company has already done so. While this business plan can increase short term profit margins, the company outsourcing its manufacturing to a foreign company is also in danger of exchanging these shorter term gains for the long term value embedded in its intellectual property rights. As an IP Strategist and owner of an IP Strategy and Consulting service, I can tell you that a well-thought out patent U.S. patent strategy can be the best protection when a company is engaging foreign manufacturers to make its product. Let’s assume that your company is introducing a consumer gadget in the U.S. Business realities today likely require your company to manufacture the gadget in China and import it into the U.S. This plan makes good financial sense, but you are also likely concerned