Why is Intellectual Property law important for a business?
Intellectual Property law is important for a business because it protects the exclusive rights of the inventor to use his/her invention. This means that no one else can take the idea/invention and profit from it. It is an essential business protection, and may seriously impact the bottom line.
How long does a patent last?
A patent expires 20 years from the earliest U.S. filing date, if issued, (excluding provisional applications), assuming all maintenance fees were paid on a timely basis and no terminal disclaimers were filed.
Are there any time limits on filing patent applications?
U.S. Patent law requires patent applications to be filed by certain deadlines or they will be barred from being patented. Invention(s) must have been conceived prior to anyone else in the U.S. and the patent application(s) must be filed within a year after the invention was described in a publication, patented anywhere else, used publicly or sold in this country.
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