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Biodesign by Paul Yock, Josh Makower, Stefanos Zenios

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5.1 Intellectual Property Strategy

Introduction
On the third day of depositions in a patent infringement suit, the opposing counsel returns to the room with a fax in his hand and a look of satisfaction on his face. “Doctor,” he says, “were you aware that what you have called your invention was published in the Annals of Physiology in 1947?”
Intellectual property (IP) is a particularly important strategic business asset in the medical device field. Not only can a strong IP position help mitigate costly legal settlements, but it can serve as a barrier to entry for competitors, an early source of potential revenue through licensing agreements, and an important overall form of collateral for an entrepreneur or business. Further, an innovator’s ...

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