A patent can be a powerful asset which brings substantial financial reward, but patents do require an investment.  Due diligence is recommended whether one is deciding to invest in patenting an idea, purchasing a patent, licensing a patent, or acquiring an interest in a technology company on the strength of its patent portfolio.  An important tool used in this due diligence process is the patent search.

Patent searches can provide useful information regarding: 

• the availability of patent protection
• the scope of available patent protection
• the existence and scope of patents owned by others
• whether core technology is in the public domain, already patented or can still be patented
• what incremental improvements have been or could be patented
• the competition, its products and its patent rights
• the successes and failures of others
• licensing opportunities and requirements

How a patent search is conducted (and its cost) will depend on what information is being sought.  We tailor the searches we perform to meet the specific needs of the client.

For example, we typically recommend a patentability study be conducted before filing a patent application.  Such searches have two purposes:  to determine whether an invention is patentable, and if patentable, the scope of the protection available.  Using this knowledge the inventor can better decide whether to invest in a patent application.  Using this knowledge a patent attorney writing a patent application can better focus the application on the differences between the subject matter sought to be patented and the prior art.

Jim Paige          (612) 392-7310           Jim.Paige@nm-iplaw.com