Sunday, February 3, 2008
Term Life Extensions: Maximizing the Life of Your Patent
The value of many pharmaceutical and biotech patents is greatest near the end of the life of the patent, when regulatory hurdles have been cleared and strong markets have been developed. A few months of additional life in the patent could be worth millions. If you are pursuing a patent and think that the greatest value may be near the end of the patent's life, don't overlook the possibility of realizing extensions to the life of your patent. Patent term extension may be available when excessive delays in processing by the PTO have occurred, in when other factors occur. For a review of the details and some excellent tips, see "Maximizing the Value of Biotech Patents" by Courtenay C. Brinckerhoff, senior counsel in the intellectual property department of Foley and Lardner.