Reviewed by Emmanuel Ejiogu
The name of the book is very apt: Key issues regarding the patent trade are examined against the backdrop of the cloak of secrecy which drives patent trade. The author pointed out that “a patent is a weapon of litigation, a right to ask a court to award damages for infringement, and prevent future infringement by blocking the sale of infringing products. Although inventors often prize their patents as trophies of technical prowess, patent industry insiders appreciate that the only substantive right a patent holder enjoys is the right to exclude others from unauthorized practicing of the invention. A patent is more of a dagger than a shield. As patents are weapons, and patent wars are raging across the technology sectors, trading in patents takes place under a cloak of secrecy.”
The patent trade is big business today, involving billions of dollars in transactions. The author noted that “many believe the only effective way of monetizing a patent is through litigation. Money talks and money drives the patent industry as it does with every other industry. Patent values increase, and the number of patent sales increase as the result of growing litigation, and mounting damages awards resulting from the lawsuits. Large, newsworthy damages awards, such as the 2012 $1bn judgment against Samsung, in favor of Apple, grabs the attention of …[stakeholders in the industry].” Whether you are an inventor, patent holder, business executive, entrepreneur, business strategist, patent broker, patent-litigation attorney, or anyone interested in patents, this book explains the role of patents in business today, discussing the strategies adopted by corporate decision-makers involved in various aspects of the patent wars.
As an inventor or seller of patents, this book will arm you with ammunitions and shields including, common mistakes to avoid when selling your patent(s), simplification of the jargons used in the patent industry, as well as options available to you when engaging patent brokers and patent-litigation attorneys.
As a buyer of patents, this book arms you with how to evaluate which patents to buy, where to find patents to buy, as well as avoiding pitfalls when buying patents. The author pointed out that “buyers, in fear of triggering lawsuits and punishing damages awards, operate in stealth mode, often shielded by lawyers or brokers acting on their behalf.”
If you are new to the patent trade, The author also included a section which explains the basics of patenting an invention (including issued patents, pending applications and provisional applications).
Other key issues addressed in the book include: Non-Practicing Entities (NPEs); Patent-packed products and single-patent products; Patent valuation; Claims Charts; Patent Licenses; the Patent Sale Transaction process; as well as an overview of what the future holds for the patent trade.
The book is available for free download from www.daggers.co.
Reviewed by Emmanuel Ejiogu.
