Patents protect new technical inventions and grant their owners an exclusive and geographically limited right to use and exploit the invention for a limited period. The owner can prohibit any other use or make it conditional on payment. The patent facilitates the process of deriving economic benefit from inventions and thus to finance development activities. Patents are an important factor in business valuation, allowing conclusions on development strategies and innovation potential. Moreover, they may form considerable assets.
With a shorter „life period“ Utility Models protect technical inventions, chemical substances, food and medical products with exception of the manufacturing process.
Utility Models – unlike patents – can be registered within a few months and thus provide fast enforceable intellectual property rights for companies. The applicant however bears the risk of prior state of the art and that protection requirements are not fulfilled.
Patent law consulting can help you to realize these potentials. Furthermore, it serves to avoid costly duplicate developments or accusations of infringement of third party rights.