When you have a good idea you need to protect it. If you have invented a device, written a program or come up with a solution that is unique and never been done before, then obtaining a patent for that idea is the best way to protect your intellectual property.
Even big data backs up that claim. Lex Machina, a company that provides analytics for legal professionals, has recently analyzed what is going on at the federal Patent Trial and Appeal Board (PTAB) using its big data resources.
Lex Machina was recently purchased by the company LexisNexis. LexisNexis analyzed the data that had been accumulated by Lex Machina in order to make note of specific trends and patterns that were within some 2,700 petitions filed with the PTAB since 2012.
The PTAB serves as the administrative law arm of the United States Patent and Trademark Office (USPTO). What this federal agency does is decide issues of what is patentable.
The information gleaned from the data indicated that 20% of petitions were denied institution – which is the step before a judge renders a final decision on a patent – and 19% were settled before institution was reached.
Protecting your intellectual property rights is important. At Greenberg & Lieberman, we specialize in protecting every area our clients’ patents, trademarks, copyrights and trade secrets. If you have a good idea, no doubt there are others who may try to cash in on it, too. Contact us today at our toll free number at (888) 275-2757, or you may use the contact form here on our website.