Do you know that if you use someone’s intellectual property in your product/service or other business activities without permission, it can create a lot of problems in the future? Yes it’s correct. It doesn’t matter what industry your business is in; Whether it’s automotive, healthcare, education, information technology, online services, or entertainment, you must be familiar with the term IP INFRINGEMENT.
What is IP infringement?
A patent is an exclusive right granted to the inventor to exclude others from making, using or selling his technologies. IP infringement refers to the use of patented technologies without permission, and in such a case, the patent owner can take legal action against infringers. IP protection is valid for 20 years from the date of issue.
Let’s take an example. Suppose you invent a small toy and you want to make money by selling the units in your country or region. Would you allow your neighbors to make similar or updated versions and sell them on the market? Of course not. Patenting your idea allows you to use your idea the way you want and stop intellectual property infringement activities. If you found imitators, you can file an IP infringement case and get royalties.
If you can’t let someone else use your innovative idea, why would others let you? If you use someone else’s intellectual property, you can be sued in court. Therefore, when manufacturing a product/service or planning any business strategy, always make sure that you are not committing any kind of patent infringement.
How do I know if I am infringing someone’s intellectual property rights?
This is a common question, which almost all entrepreneurs have today. Patent infringement does not mean that you intentionally steal someone’s intellectual property rights. Suppose you develop a product/service that uses the same design, concept, technology area, working principle, etc. in which someone has a patent (but you have no knowledge about it). If you bring your product/service to market, you will be liable for patent infringement.
Every patent has a claim section, which describes the scope of the invention, the area of ​​intellectual property protection, etc. By reviewing complaints, you can tell if you are infringing on someone’s intellectual property rights. But, there are a number of patent applications filed every month, how do you check for IP infringement? Get FTO Analysis!
FTO is short for Freedom to Operate, and helps determine if you are free to set up your business or launch a product/service in a country/region without committing any intellectual property infringement. The FTO study provides full details on proprietary technologies (in a given country/region) similar to your product.
FTO analysis allows you to:
- Learn about the possibilities of intellectual property infringement for new product launches.
- Determine upcoming competitive products/services, technologies, and programs.
- Learn about IP licensing opportunities.
- Develop exclusive trading strategies and increase the success rate.
conclusion
The product development process is not simple and requires a lot of time and money. If your product infringes proprietary technologies, you may find yourself caught up in serious intellectual property infringement cases. Therefore, before launching your product/service, do an FTO analysis from a reputable IP company and avoid patent infringement in the future.