Many establishments do not really understand the value of their intellectual properties. In Lagos Nigeria, some establishments just treat their intellectual properties such as patents as regular assets. Worse, some people fail to provide adequate protection to these assets. Due to the lack of understanding of intellectual property law, less importance is given to Intellectual Properties Attorney Lagos.
Intellectual property are assets that can contribute so much to the value of a company. These include trademarks, copyrights, patents, industrial designs and many more. These properties need special protection in order to fully benefit from them.
One intellectual property that is fast emerging is patent. Patent is an intellectual property right granted to an inventor for his invention and the right to restrict others from exploiting his invention without his consent. Patent may be granted for an invention that is new, capable of industrial application, involves an inventive step and does not violate any law.
Patent rights granted each year are increasing due to the advent of technology. The modernization and increasing development of technology has caused more inventions to be made and innovations to be integrated. Increasingly, companies are investing in research and development in order to compete with the latest trends in innovation.
In order to afford full protection for an invention and innovation, this must be patented. Once a patent is granted for an invention, only the inventor has the right to exploit his inventions. The inventor may reproduce the same invention. He may also sell, rent or grant contractual licenses to third parties.
Applying a patent for an invention is a long process. In Nigeria, the application is submitted to the Registrar of Patents and Designs, Patents Registry. The Registrar will examine if the applicant has complied with all the requirements. Once the registrar certifies that the application is in order, the patent is granted to the inventor.
The examination made by the registrar is usually on the mere formalities of the requirements only and not on the specifications of the invention. This will expose the inventor to certain risks. Another party may claim an interest on the invention. The inventor can then be sued for patent infringement.
Patent infringement suits can be very expensive and may take a long period of time to be resolved. It is important to avoid any possibility of a patent litigation. That is why it is ideal to hire the service of a patent lawyer even at the start of the patent application process.
Patent lawyers are Intellectual Property lawyers who have expertise on the patent laws and rulings. These lawyers will examine if the invention is really unique and that there are no existing similar inventions that are already registered. They will examine the details and specifications of the invention in order to avoid the duplication of other inventions. This process is sometimes overlooked by the Patent Registrar in Nigeria.
To avoid damage in the long run, it is best to hire experienced lawyers. An experienced intellectual properties attorney Lagos who are actively updating their records on the registered inventions in order to easily detect possible cases of patent infringement. This will assure inventors better protection of their assets.
Should the inventor find himself in a patent litigation, he can also seek counsel from a patent Litigation Attorney Nigeria. There are known patent litigation attorneys who have already dealt with many patent cases. They know the technicalities of patent laws and decisions of the patent cases.
There are really times when a client is on the losing side of a patent litigation. The patent litigation attorney Nigeria will actively negotiate with the winning party in order to substantially reduce the damages that the client may have to pay. They may also negotiate for a resolution instead of going into a full blown trial. Not all lawyers are skilled enough in bargaining for the best resolution in a patent case. It is necessary to hire lawyers who really specialize in patent litigations.
Patent will definitely give the inventor economic rights over an invention. However, there are also risks that must be avoided in exercising this right. To be able to reduce these risks, it is important to seek advice from patent attorneys who are really knowledgeable about patent laws. The services of the intellectual properties attorney Lagos may be as important as the value of the patents.
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