Rose Willis (Member, Saginaw and Troy) states “Innovators in the healthcare industry must protect their technology and innovation property rights. Dickinson Wright healthcare intellectual property attorney, Lance Anderson (Member, Austin), provides strategies and other valuable insight into the methods of protection in his article “The Patent Mirage: The New Challenge for Today’s IP Strategy”. Effectively leveraging the intellectual assets of your business requires a holistic approach to IP protection. Anyone dealing with “intellectual property” (IP) and its role in capturing innovation understands the critical role patents play in value creation. Patents are constitutionally-driven, time-limited rights to exclude others from practicing your invention, usually in exchange for your ‘enabling’ one of equal skill to carry out the invention, thus (in the words of our founding fathers) advancing the useful arts. Over the years, businesses that participate in research and development or improvements to goods and services have implemented best practices when it comes to protecting their intellectual property assets. Effective due diligence, valuations, and negotiated representations and warranties around patents have become routine parts of many corporate transactions. Patent assets, material contracts, licenses, data, and software are often scheduled in mergers, acquisitions, asset purchases, and debt facilities. Security interests may be recorded based on ownership transfers and collateralization. Patents have long served as the primary asset within IP portfolios. Patents are then typically bolstered by copyright, trade secrets, data, and...Read More
Author: Lance Anderson
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