Reinstating a Patent

2 Replies | 1,346 Views
iAmMyOwnName
0
A couple years ago, I filed and was granted a US utility patent, and have been manufacturing and marketing it, by myself.  But now I've decided I've had enough of that kind of stress, and I would rather just license it.  However, now I discover that I forgot to pay a maintenance fee, and therefore unintentionally abandoned my patent. Should I talk to a licensing agent first, in order to gauge the viability of obtaining a licensing deal, or should I first reinstate the patent and then contact a licensing agent? Just asking because reinstatement isn't cheap.
amym
0
I have a similar situation now. I do not know what to do in this case. There is no answer anywhere on the Internet!
This is very necessary for my business project. I found the idea on https://afreeadvice.com/best-business-ideas-to-make-money/ but due to the difficulties in implementing my business, I can not improve it in any way! I found this article, but thought there was a solution here, but I was wrong, lol
I think that such a topic should be searched not for forums, but for friends who understand this area. Unfortunately, I don't have any of them. Therefore, if anyone knows the solution - I will be very grateful to you for your help!
Thank you in advance and let your business thrive and grow!
iAmMyOwnName
0
Yeah, it's amazing how everything can be found out there on the internet, and then you stumble upon something where there is zero commentary.  It's like you should get a prize for your discovery :)  So I had to go onto my own expedition into the wilderness on that one.  If I remember correctly it's no big deal to reinstate a patent if it has lapsed for a few years - just pay the penalty, no questions asked.  If it lapsed for more than 5 or so years, a written explanation is required.  I did "shop it around" among licensing agents without reinstating it, and they all turned it down.  Although I didn't find any of them very communicative about their decision making process, still it seemed like the lapse was only a small factor in their decision to decline, and they gave the product an evaluation on its own merits, as if it never lapsed.  But that's just my impression, nobody clearly said that to me.  

So, from my experience, I would say have a quick conversation with your patent attorney and confirm that you can likely reinstate the patent, then contact licensing agents, letting them know you can, and whether they would take on the project of shopping it around.  I found most of the agents I talked to helpful, if a bit terse in their communication.  Good luck.  If you got further questions, feel free to ask.

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