How Can Businesses Minimize the Risk of Patent Litigation?
To minimize the risk of patent litigation, businesses can:
1. Conduct Freedom-to-Operate (FTO) Searches: Ensuring that their products or processes do not infringe on existing patents. 2. Negotiate Licensing Agreements: Securing licenses for necessary patents to avoid infringement claims. 3. Implement a Patent Strategy: Developing a comprehensive patent strategy to protect their own innovations and monitor competitor activities. 4. Regularly Review and Update Contracts: Ensuring all contracts involving patents are clear, comprehensive, and up-to-date.