As an inventor, owning a patent is one of the most rewarding things you can achieve.
Successfully obtaining a patent on your invention requires significant dedication, time, and money. Unfortunately, however, individuals and entities do not always respect the protections provided by a patent. In fact, there were more than 225,000 patent cases filed in District Court in 2017 alone.
If another party steals your invention and uses it without your permission, they have committed patent infringement. When this happens, not only do they take advantage of your hard work, but they can also cause actual harm to you.
If someone infringes your patent, you may have a right to recover patent infringement damages.
Of course, damages for patent infringement cases can vary widely from case to case depending on various factors. But if you have questions about your potential patent infringement damages and how you can maximize your claim, contact an experienced patent litigation attorney today.
The Polasek Law Firm focuses exclusively on the practice of intellectual property law. Give the firm a call today to discuss your case and see what patent infringement damages you may be able to recover.
Types of Damages in Patent Infringement Cases
There are two primary types of damages in patent infringement cases: reasonable royalties and lost profits. A judge may award other types of damages in certain situations. However, reasonable royalties and lost profits are the most common.
A “reasonable royalty” is one type of patent infringement damages calculation. Essentially, a reasonable royalty is the fair market value associated with the use of your patent by the patent infringer.
As you might expect, determining the fair market value of a particular invention might seem speculative and difficult to determine. Fortunately, there are a few different methods of calculating reasonable royalty damages in patent infringement cases.
An experienced patent infringement attorney can help you understand the various calculation methods and determine which one will allow you to maximize the amount of damages in your particular case.
A “lost profits” claim for damages, on the other hand, does not rely on the market value of the use of your patent. Rather, lost profits are calculated by determining the amount of money that the patent owner would have made if not for the infringement.
Determining lost profits for purposes of a patent infringement damages calculation can also be complicated. This is often because the patent owner must be able to show a causal relationship between the infringed patent and the lost profits.
Damages in a patent infringement case can be difficult to prove. However, that doesn’t mean they are not worth pursuing. In fact, a court may even permit expert testimony to assist in determining a patent infringement damages calculation.
A knowledgeable patent litigation lawyer can help you gather the evidence and information you need to help prove your patent infringement damages case.
Contact a Patent Infringement Attorney Today
Your patent carries important legal protections for your invention. When another party disrespects those protections, you have a right to take action.
Polasek Law Firm takes your intellectual property seriously. With over 25 years of experience handling intellectual property law, TPLF has the resources and experience necessary to protect and enforce your rights.
For more information on your potential patent infringement damages, contact Polasek Law Firm today and see what the firm can do for you.