Intellectual Property in the Managerial Portfolio

Chapter 2

The Mechanics of Acquiring Intellectual Property Protection From Government Sources

The Process of Acquiring a Patent

The process of acquiring a patent is the lengthiest, most expensive, and the most detailed of all the protocols involved in securing government-provided protection for intellectual property rights. Success in obtaining a patent, however, often means that one has acquired a very valuable asset in the form of a monopoly on a unique scientific achievement or an engineering breakthrough. Weighing the cost of acquiring the patent versus the revenue likely to be earned from it often strongly argues for the expenditure of the funds to secure patent protection.

The following steps are necessary if a patent is to be sought. Though ...