Patent litigation can be lengthy and expensive!
When a business owns a patent, and that patent is infringed, the business has few options other than patent litigation. Many large settlements have been won by businesses that launched patent infringement lawsuits against larger businesses that were the infringers of their patents. However, entering into patent litigation is a lengthy process, and patent litigation is very expensive!
Except when a major corporate is suing another major corporation, patent litigation is a classic David-versus-Goliath battle. When the plaintiff is a small business or an individual, and the defendant in the patent litigation is a large corporation with virtually unlimited resources, it is simply not a fair fight. It is not enough to have an enforceable patent and a valid claim of infringement in order to be successful in patent litigation. The case will be won by the side with the greatest expertise and experience, AND the side with the financial resources to relentlessly pursue the patent litigation to a successful resolution!
Patent litigation can have several outcomes
A business executive needs to be aware of the outcomes that can come from patent litigation. Very few civil lawsuits – and that includes patent litigation – actually go to trial. Most result in some type of out-of-court settlement.
Damages: Your business may be able to receive compensation for infringement of its patent or patents. Damages will be based in part on the royalties the business would have been paid had the infringer amicably licensed the patent(s) in the first place. If the business practices its invention (that is, uses the invention in a product or service it offers for sale), that business may be entitled to compensation for the lost profits caused by sales of the infringer’s products and services that use that business’s patent(s).
Settlement: Your business may be able to negotiate a lump sum settlement that includes past infringement of the patent(s) as well as future use of the patent(s) over its remaining life. Large corporations often prefer to make a single payment to the patent owner that includes past, current and future use of the patent. Payment for future use of the patent is usually computed based on projected dollar or unit sales of the product that uses the product over the remaining life of the patent.
License: The business that owns the patent may be able to secure what is called a “stick license” from the infringing company. Under this arrangement, the infringer pays the patent owner a royalty that is based on unit or dollar sales of the products that use the infringed patent.
What are your patent litigation options?
The business that cannot afford to spend hundreds of thousands of dollars – even possibly millions of dollars – to finance patent litigation on its own really has just two options. Either walk away and leave the infringer to infringe the patent with impunity, or find a champion – like General Patent Corporation – that has the expertise, experience and financial wherewithal to launch and try successful patent infringement litigation!
Admirable patent litigation track record
General Patent Corporation (GPC) has a record of achieving results for business whose patents have been infringed. GPC also brings a package of value-added services to patent litigation, and provides these at no cost to the patent-owner. General Patent offers its unique Suite of Services, a comprehensive package of support that no other organization offers. GPC is re-paid the money it invests in your business’s lawsuit, and then earns a success when we have produced results for your business. We are paid, per an agreed-to formula, from any awards, settlements, royalties or other revenue produced by the patent litigation.
Can General Patent assist you?
It costs your business nothing to have General Patent evaluate your claim of patent infringement and determine if pursuing patent litigation is a viable alternative. It takes just a few minutes to complete a Patent Infringement Inquiry. Or call us toll-free at 888-927-9273.