A patent’s benefits include giving the patent holder the exclusive rights to the product. That means they can sell, create, use, and import the product. They also must publicly disclose the product itself. A critical point about the patent is that its duration is limited. Patent holders who forget this fact can run into trouble.
While getting a patent is a crucial step to avoid others profiting from the creation without legal and financial consequences, it is not the end of the journey. A common misstep patent holders make is failing to understand how and why to maintain the patent.
Make sure to pay the maintenance fees for a patent
The patent is not permanent. In general, it lasts for 20 years, but patent holders must also maintain its protection. To do so, the patent holder needs to pay fees to the United States Patent and Trademark Office. The patentee can pay the fees or they can be paid by a person or entity on their behalf.
The payments must be made at certain intervals after the patent was granted. It is 3.5, 7.5, and 11.5 years after receiving the patent. Not paying the fees when they are due can lead to the patent’s expiration. Losing the patent opens it up for others to copy and sell the invention. This can be costly in myriad ways. In a worst-case scenario, it can destroy the business entirely. It is an easily avoidable mistake by simply adhering to the rules for maintaining a patent.
Paying the fees keeps the patent valid and allows the patentee to enforce it if anyone tries to violate it. The patent can expire if the payments are not made on time and in full. When the maintenance fees are made, they increase each time. The size of the entity will determine how much the patentee needs to pay. A “small” entity can have the fees reduced by 60%. There are eligibility requirements to be categorized as such.
Those who miss a payment resulting in the patent lapsing can get it reinstated, but there will be overdue fees as well as a surcharge. A lapsed patent leaves the invention vulnerable and can cause myriad other problems that might not be solved so easily.
There will be reminders sent within six months of when the payment was due. At the end of the fourth, eighth or 12th years when the patent was issued, the patentee will get a Notice of Patent Expiration.
Keep your patent in force by paying the maintenance fees
After creating an invention and getting a patent, it is vital to understand how to maintain it. Given the litany of issues that can arise by failing to take this relatively straightforward step, it is wise to adhere to the rules of maintaining patents.
People make mistakes or run into obstacles even after they have a patent. For every aspect of a patent and the rules and laws surrounding it, it is useful to have professional guidance. This can protect the patent and the patentee from making costly errors that can damage their business.
