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Here are a number of features that contingency fee litigators will choose to see before acknowledging your patent for contingency fee enforcement:
1. A well written patent--it is astonishing how several poorly written applications are out there full of patent profanity, having simply one private claim, having only method claims, having claims that are only infringed by end users, having only means-for clauses, etc. (see my legal handbook on how to pick a patent attorney for a directory of conventional mistakes);
2. Damages--since the expense of execution averages 1.5 million or so, and we are simply acquiring a morsel of these damages, we need damages of at least 10 million or so (using the reasonably royalty compensation calculation procedure if there has been an offer to license);
3. A client who is willing to assume an economic end result as different to one who is playing hard ball or to shut down the infringer;
4. Apparent literal infringement;
5. Minimal harmful file history; and
6. If at all possible, diversified infringers of differing sizes, not solely one or two sizeable ones.
There are additional ways to convert patents, and contingency fee legal action is just one option. Another alternative is to make use of a holding company that has "negotiators" who enforce patents that are infringed by others.
The way one of them works is that they shell out a slight hourly consulting fee and excessive percentage only up to the first million or so in costs or royalties, then the percentage plunges down sizeably after this manner, with a net to the inventor being much lesser than contingency fee litigation - if at hand there is a sizeable win, but with some returns to the inventor if there is a loss. With such an agreement, they forestall having to take directions from clients who are ready for blood.
But most inventors act not to gain compensation from their patents. The ones who I have seen realize success, are persons who are venture funded start-ups, those who in fact produce the product they have patented, and persons whose patents end up being infringed by others and who make use of contingency fee litigation.
In particular "hot" fashionable technology areas like Web 2.0, a selection of companies with ties to particular large software associations will obtain patents to merely locate them on the shelf but that is not typical.
In this rough economic background, auctions are generating little attention these days and one of the single ways to monetize patents is via contingency fee execution. The litigators are being highly discriminatory in the cases they assume, so having a well drafted patent with unmistakable infringement and minimum detrimental file history is imperative.
If you have no doubt meeting the points I've laid out here, it may be worth taking into account contingency fee enforcement. Simply be mindful that the vetting method can take a lot of time.
Here are a number of features that contingency fee litigators will choose to see before acknowledging your patent for contingency fee enforcement:
1. A well written patent--it is astonishing how several poorly written applications are out there full of patent profanity, having simply one private claim, having only method claims, having claims that are only infringed by end users, having only means-for clauses, etc. (see my legal handbook on how to pick a patent attorney for a directory of conventional mistakes);
2. Damages--since the expense of execution averages 1.5 million or so, and we are simply acquiring a morsel of these damages, we need damages of at least 10 million or so (using the reasonably royalty compensation calculation procedure if there has been an offer to license);
3. A client who is willing to assume an economic end result as different to one who is playing hard ball or to shut down the infringer;
4. Apparent literal infringement;
5. Minimal harmful file history; and
6. If at all possible, diversified infringers of differing sizes, not solely one or two sizeable ones.
There are additional ways to convert patents, and contingency fee legal action is just one option. Another alternative is to make use of a holding company that has "negotiators" who enforce patents that are infringed by others.
The way one of them works is that they shell out a slight hourly consulting fee and excessive percentage only up to the first million or so in costs or royalties, then the percentage plunges down sizeably after this manner, with a net to the inventor being much lesser than contingency fee litigation - if at hand there is a sizeable win, but with some returns to the inventor if there is a loss. With such an agreement, they forestall having to take directions from clients who are ready for blood.
But most inventors act not to gain compensation from their patents. The ones who I have seen realize success, are persons who are venture funded start-ups, those who in fact produce the product they have patented, and persons whose patents end up being infringed by others and who make use of contingency fee litigation.
In particular "hot" fashionable technology areas like Web 2.0, a selection of companies with ties to particular large software associations will obtain patents to merely locate them on the shelf but that is not typical.
In this rough economic background, auctions are generating little attention these days and one of the single ways to monetize patents is via contingency fee execution. The litigators are being highly discriminatory in the cases they assume, so having a well drafted patent with unmistakable infringement and minimum detrimental file history is imperative.
If you have no doubt meeting the points I've laid out here, it may be worth taking into account contingency fee enforcement. Simply be mindful that the vetting method can take a lot of time.
Deepak Malhotra is a registered U.S. Patent attorney,
and is also registered as a patent agent. He has a bachelor's degree in
Electrical Engineering as well as a law degree.
Deepak assists clients in security software patents, business method patents, electrical patents, mechanical patents, and trademark registrations. Admitted to the United States Supreme Court, Deepak can represent clients in any state or from any country against the U.S. Patent and Trademark Office.
Deepak has also had experience practicing outside the U.S. And can assist foreign clients in obtaining U.S. Patents.
Deepak assists clients in security software patents, business method patents, electrical patents, mechanical patents, and trademark registrations. Admitted to the United States Supreme Court, Deepak can represent clients in any state or from any country against the U.S. Patent and Trademark Office.
Deepak has also had experience practicing outside the U.S. And can assist foreign clients in obtaining U.S. Patents.
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