Many Texas inventors spend a great deal of time and effort obtaining their patents. Once a patent is secured, however, its owner will need to focus on how to manufacture, distribute and market the product it represents. Fortunately, patent law encompasses more than just obtaining a patent. It can help protect the patent from being used by anyone without permission.
Most people do not have the money to mass produce their product, let alone distribute and market it. Therefore, patent owners will often partner with companies who already have the necessary manufacturing facilities and distribution channels. The trick, however, is to ensure that your rights under your patent are safe.
A patent license agreement can be negotiated between the parties. This gives the other party certain rights and obligations regarding your patent. The agreement can be as broad or limited as needed in order to achieve each party's goals. If the other party violates the agreement by misusing the patented information, the agreement can be canceled. If the party persists, court action might be necessary.
Patent licensing is a common practice between inventors and those who will manufacture and distribute the end product. These licensed partners can provide patent holders with resources that they would not have access to any other way. Texas patent holders who are contemplating entering into such an agreement are cautioned not to enter into one without it first being thoroughly reviewed by an attorney. A patent law attorney can assist with the negotiation, drafting and execution of such an agreement to ensure that your rights are protected.