Patents Flashcards
1
Q
Invention does not = _______
A
Innovation
2
Q
Innovation doesn’t start until you have a _____
A
customer
3
Q
Who is an inventor?
A
- whoever generated the idea in their head
- inventors must be able to prove they contributed intellectual value to at least one claim listed in an issued patent
4
Q
What is a patent?
A
- protects man made creations (materials, methods, machines, uses)
- exclusive legal right to make, use and sell invention
- right to exclude infringers in court ($$$)
5
Q
What is the limited life of a patent?
A
20 years
6
Q
What are the criteria for a patent?
A
- novel
- useful
- non-oblivious
- patentable subject matter
- adequately described
7
Q
Why patent?
A
- attract investment
- higher return on investment
- exclusive rights for 20 years
- opportunity to license or sell the invention
