If you’re an entrepreneur in California, then you’re undoubtedly aware of the abundance of potentially profitable technology being developed throughout the state. Much of the research that leads to ground-breaking technology happens at universities, and many tech startups find great success in transferring patented technology from the university to the marketplace.
University research departments continue to make it easier for businesspeople to take tech to market. However, disputes over intellectual property are still very real and costly. To protect their interests now and in the future, California business owners would be wise to seek legal counsel with experience in every aspect of intellectual property law, including licensing agreements and patent infringement claims.
In a knowledge-based economy, intellectual property becomes increasingly valuable. Likewise, as the relationships between businesses and university research departments become potentially more profitable, it is important that entrepreneurs take the necessary steps of thoroughly investigating patents, monitoring patent portfolios and creating intellectual property agreements that stand up to scrutiny.
To help companies shop around for the right patent, some universities allow exclusive access to technology prior to purchase. As a possible buyer, you can limit your risk by assessing the tech to see if it fits your needs. It is also a good idea to have an intellectual property attorney research the patent.
Solid intellectual property agreements help business owners create new trends in the marketplace, as well as maintain a competitive edge. A recent Forbes article offers some examples of the ways in which universities are making it easier for entrepreneurs to transfer tech to market.
For more on dealing with patent disputes, please visit our intellectual property overview.