Penalties for Patent Infringement
The aim of the United States Patent and Trademark Office is to ensure that the creators or designers of new intellectual property have legal protections that can help them to secure the profits associated with their ideas and inventions. When issued, a patent grants the patentee a window of time during which they are given exclusive use and control over the product. Infringing on another person or company’s patents can have serious consequences for your business, so it is imperative that you take all appropriate measures to prevent unknowingly setting your enterprise up for disaster.
If you are unsure whether a product that you are developing or have already started to sell may be violating an existing patent, contact the Des Moines intellectual property lawyers of LaMarca Law Group, P.C. at (877) 327-2600. Even if your idea is substantially similar to an existing model, some modifications can mean the difference between profits and penalties.
Damages and Fines
An incomplete patent search or the willing violation of another entity’s patents can have serious repercussions when the matter is decided by a judge or jury. Although the financial implications can be severe, they may pale in comparison to the damage that a patent violation can inflict upon your company’s reputation with important customers, organizations, and business partners. The legal penalties may include:
- Licensing damages – the infringer may have to pay the patentee an amount roughly equivalent to the cost of what would have been a rightful licensing fee, and is subject to tripling by the court when intentional infringement is discovered
- Interest on monies owed
- Patent holder’s court costs and fees
- Injunction against the sale or production of the infringing goods
To avoid winding up in such an undesirable position, contact the Des Moines intellectual property lawyers of LaMarca Law Group, P.C. at (877) 327-2600.