Kelly & Krause, LP

Our clients know that developing a new idea or product requires time and money. Securing intellectual property rights can help prevent a new idea or product from being copied and "keep the playing field level" by deterring competitors from copying it and thereby saving time and money that would have otherwise been required to develop it themselves. Whether an intellectual property asset is infringed, however, is often a matter of one's opinion. And, disputes have been known to arise, especially between competitors. Patent litigation is known to be expensive and time consuming. It is also fraught with risk. Surveys by the American Intellectual Property Law Association show that the average cost of a patent infringement can easily exceed one million dollars in legal fees. A patent lawsuit can also take years to decide all the while making business decisions significantly more difficult to make. In addition to the legal fees spent conducting the litigation, losing a patent infringement lawsuit can mean an injunction and a damage award measured in millions of dollars. Because patent litigation is so costly, a portfolio of patents actually discourages litigation, at least between competitors. If litigation becomes necessary, a portfolio of patents can also help settle a dispute on terms more favorable to the portfolio owner than they would have been otherwise.