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April 10, 2009, Newsletter Issue #162: Litigate or License?
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Tip of the Week
Infringement lawsuits are expensive. The monetary cost and time commitment of litigation can wreak havoc with large companies, never mind the independent inventor or entrepreneur.
When a direct competitor might be infringing your patent, a more realistic and profitable approach might be to forge an intellectual property licensing agreement instead. Far less costly than litigation for your competitor too, they might welcome the opportunity to earn income through a licensing partnership than lose profits to attorneys or even lose their right to use the product at all.
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This weekly Invention Tips newsletter is brought to you by InventHelp, "The Invent Help People," America's leading inventor service firm. InventHelp can assist you in trying to submit your invention or new product idea to companies, as well as help you obtain affordable patent services. To request more information, visit www.inventhelp.com or call toll-free 1-800-INVENTION.
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