Recovering Damages for Patent Infringement
People and companies obtain patents to protect their inventions, formulas, and similar designs. Such protection is important because if others use your invention, you can lose money, and the other party can wrongfully gain from the misappropriation. Once you have a patent, you can take legal action to recover damages if someone infringes on your patent.
So, what damages might be available in a patent infringement claim? This will depend on the details of the situation, though categories of possible damages include:
- Reasonable royalties – Generally, if someone is licensed to use your patent, they would pay you royalties in return for the license. Successful infringement claims can result in an award of reasonable royalties that reflect the fair market value of what the infringer would have paid for a patent license.
- Lost profits – In some cases, patent infringement can result in the patent owner losing profits they would have otherwise earned. Obtaining these damages requires you to prove that your patent set your product apart from competing products, as well as demonstrating your business losses due to the infringement.
Proving damages in a patent case can be complicated, and experts are often used to provide technical analysis and testimony of your damages. Judges also have the opportunity to award patent-holders up to three times the amount of actual damages if the circumstances warrant additional compensation.
Contact a Patent Lawyer in Orlando for Assistance
Patent infringement can be costly for your business, but recovering through a patent infringement claim can be a complicated process. You want to seek help from the right Orlando patent attorney who can protect your intellectual property rights. At Daniel Law Offices, P.A., we seek maximum compensation for clients in the most efficient manner possible. Call 866.377.2836 or contact us online to discuss a possible patent-related matter today.