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.
Children’s natural instinct to brainstorm and create should be nurtured by parents and teachers alike. Coming up with new product ideas and inventions is a great way to instill a love of science, math, marketing and the entrepreneurial spirit. It also teaches cooperation and instill tremendous conf