Considering Patent Litigation Funding
It’s through the workings of our minds that humans have the greatest advantage over animals. During millions of years of evolution, our brains have grown to accommodate new lessons and challenges. Through this unique tool, we have learned how to make fire, and we’ve created the wheel. We’ve designed instruments, written books, plays and musicals, and we’ve invented technology that allows for instant, live communication between continents. All of these “products” of our brains are valuable—and some of them can be protected.
Understanding Intellectual Property Laws
Just as with tangible property, the creations, discoveries, ideas, and expressions produced by the mind deserve protection. Intellectual property laws deliver that protection by designing copyright laws, trademarks, patent laws and trade secret laws.
IP law is often broken down into two categories: hard and soft.
• Hard IP: This generally refers to patents, including design and utility patents. In many cases, it also refers to patents that have been applied for but not yet issued, which sometimes need defending.
• Soft IP: Different from the field of patent law, soft IP refers to copyrights, trademarks, trade secrets and more.
Fighting for Clients
Lawyers who specialize in IP law fight many different types of cases. One day they might be in court over copyright infringement, and the next fighting an unfair competition case involving trademark infringement. The following month they may be working on an arbitration over cybersquatting or internet piracy.
No matter what type of IP law infringement a lawyer is combating or whether their client’s fighting it out in a courtroom or a deposition, litigation funding is a valuable tool in the battle. Through litigation funding, you can secure an advance on an anticipated settlement or judgment for a strong IP case. The advance funding you receive can be used to meet various costs of fighting the case, thereby increasing your chances of winning. It can also be used to support costs of running your firm, thus ensuring continued growth and success for your career.
About Patent Litigation Funding
When lawyers and firms find out about how litigation funding can help them, they often want to know more about the process of securing the funding and the associated costs. Here are four of the most common questions about litigation funding for IP cases.
Q. How much does litigation funding cost?
A. Rates and terms are fully customized for each client.
Q. Do I need collateral?
A. Funding is non-recourse and collateralized by firm’s anticipated fees on selected IP cases.
Q. What can I use the funds for?
A. The firm or lawyer obtaining the funding decides what it is used for.
Q. When can I apply and when will I receive funds?
A. The patent litigation funding process delivers capital quickly, easily and when you need it most. It’s been said that the human brain uses up 20 percent of the body’s daily energy. When you practice IP law, your clients need you to use 100 percent of that energy to defend them from those who would trespass against their rights. Securing patent litigation funding may help ease that load.
Partner with Pravati Capital and our patent litigation funding today to support the future of your firm, with the working capital you need to win.