FAQs

Q?Why create a patent?
A.

The patent is used to exclude others from using the same invention in their business, as your patent describes. It is an invention right and it is publically available. The owner of the patent has the right to practice the invention described in the patent but this does not mean that some products will be using all or part of a patent.

Q?What is IP (Intellectual Property)?
A.

IP is used to protect your business. Other types of intellectual property include:
a. Trademarks
b. Copyrights
c. Contracts
d. Trade Secrets (like the formula for Coke)

Q?How much are my patents worth?
A.

The value of patents can vary from $10,000 per patent to $50,000 on average. Very valuable patents may sell for several hundred thousand or even 7 figure sums. U.S. patents comprise the bulk of the value of any patent portfolio. Non US patents may be worth a fraction of the total value. Also, patents that are typically bought and sold are Utility patents, not Design or Plant patents. Utility patents need to have a novelty that is unique or they are not considered eligible to grant

Q?How long does a patent last?
A.

Most patents have a life of 16 to 20 years from the date of filing. The value of a patent drops dramatically if there are fewer than 3 years remaining of their life. Therefore most patents we are targeting would have filing dates of 1995 or later for them to have a reasonable value

Q?Is my patent still in force?
A.

If a patent owner has not kept up with maintenance payments their patents may have expired. If unsure, always check on USPTO PAIR. Kanzatec wants to be able to help sell the owner’s patents and these must be unexpired and current or they have no value.

Q?Can I use my technology/product if I sell my patent?
A.

Some engineers who have created patents believe they cannot use the patents’ technology if they sell them. This is not true, because most operating companies with current products sell their patents with a grant back license that allows them full freedom to operate the technology/method described by their patent.

Q?How much time and money can it cost to develop my portfolio further?
A.

The cost of prosecuting (the legal term for writing up the application and developing the patents, their applications etc.) a patent can vary from $5k to $10 or $15k depending on the kind of law firm and cost of the attorneys used and the time taken.