Entrepreneur Plus - Short White
For Subscribers

Rest InsuredHow the right insurance policy can protect you in a patent lawsuit

ByTomima Edmark

Opinions expressed by Entrepreneur contributors are their own.

Here's an eye-opening fact: In the1997 EconomicSurveyby the American Intellectual Property Law Association(IPLA), the median cost of litigating a patent infringement lawsuitthrough trial can range from $300,000 to $3 million.

知识产权诉讼就是其中之一of the most expensiveforms of litigation in our country. So what can a strapped-for-cashentrepreneur do when he or she needs to defend the most valuableasset of his or her fledgling company?

There is good news, but first let's lay a little groundwork.Once you are issued a patent by the U.S. Patent and TrademarkOffice (PTO), you immediately have the right to exclude others fromthe manufacture, use or sale of your patented product. However,once your idea is patented, it's vulnerable to legalchallenges. Your patent can be attacked and possibly invalidated,thus rendering it worthless. It's up to you to enforce anddefend it. If you choose not to, however, your intellectualproperty rights will be abandoned and possibly lost forever.

This is a subscriber-only article. Join Entrepreneur+today for access

Editor's Pick

Business News

'No Question, We Probably Went Too Far': Delta Airlines CEO Backtracks on Sweeping Changes to SkyMiles Accounts, Sky Club Access

The unpopular changes set to roll out in 2025 were announced earlier this month.

Business News

Jeff Bezos Lost $5 Billion in 1 Day After Amazon FTC Lawsuit News

The lawsuit accuses Amazon of engaging in anticompetitive practices, which has led to a sharp decline in the company's stock value and a substantial reduction in Bezos's net worth.

Business News

Why Barbara Corcoran Chose Her Business Partner After Looking Inside Her Purse: 'Best Hire I Ever Made'

Esther Kaplan served as President of the Corcoran Group until 2000.

Business News

Katy Perry Is Fighting the Founder of 1-800-Flowers for a $15 Million California Mansion He Doesn't Want to Sell Her

The eight-bedroom, 11-bathroom estate sits on nearly nine acres in the Santa Ynez foothills in Montecito.

Growing a Business

So Your Company Is Talking About Transformation — But Is It Ready? Here's How To Tell.

Transformation is one of a company's many choices — but if a team opts to do it, they have to be sure the business is ready, willing and able.