A Legal Guide To TECHNOLOGY TRANSACTIONS A COVID-19 Update…

TIME REQUIRED TO OBTAIN PATENT PROTECTION On average, it takes between one to four years from the filing date of a patent application to obtain an issued patent. Some patent applications have remained pending for decades. However, the U.S. Patent Office has set a three (3) year period as its maximum target for reviewing a patent application (not counting continuation applications or other specified events). If the time period exceeds three years, then the patent term extension discussed above would be applicable. The applicant can also control to some extent the speed with which the application is processed by filing a very complete application and responding quickly to the Examiner’s Office Actions. The number of Office Actions issued will usually be limited to two, because the Examiner will denote the second Office Action as a final action. The applicant will then be required to either (i) prepare the application for issuance of any allowed subject matter, (ii) appeal the case to the Patent and Trademark Board of Appeals, or (iii) file a continuing application starting the examination and response process over again. At any time beginning with the first Office Action, the Examiner may find allowable subject matter and allow the application. The applicant may abandon the application at any time, even after allowance.

FINDING SOMEONE TO MANUFACTURE AND DISTRIBUTE YOUR INVENTION

Minn. Stat. § 325A.04 requires invention marketing services soliciting businesses in Minnesota to disclose how many individuals who have come to that service for help have made money on the invention after contracting for the service. This number is usually quite small, such as 1 out of 500 or 1,000 people. If the service

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