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   Patent/Invention Ownership (Moderators: Forum Admin, JimIvey, JSonnabend)
   Royalities

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Topic: Royalities (Read 1155 times)

Lew
Newbie

Posts: 1

Royalities
« on: Dec 15^th, 2007, 3:55am »

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I am an Engineer for an electric utility company. This company rarely deals with patents maybe 10 in the last 25 years. I had an idea and mostly on my own time came up with an invention. The company liked the invention and I suggested applying for a patent to ensure someone would not copy my idea (for defensive measures).

Patent was applied for and listed me as inventor and company as owner. I was never compensated at all for the invention so do I have any rights to any royalities?

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Wiscagent
Full Member

Posts: 843

Re: Royalities
« Reply #1 on: Dec 15^th, 2007, 9:37am »

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What royalties? Has your company licensed and collected royalties for the invention? Do you expect them to?

« Last Edit: Dec 15^th, 2007, 9:37am by Wiscagent »

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Richard Tanzer
Patent Agent

Bill Richards
Full Member

Posts: 758

Re: Royalities
« Reply #2 on: Dec 15^th, 2007, 11:21am »

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Do you have an employment agreement? If so, does it cover intellectual property of which you conceive? Is it part of your job to invent for the company? In other words, do you have an obligation to assign your rights to your employer?
Even more importantly, have you signed (with notarization) a document assigning your rights to the company? If not, it's not the owner, you still are.
Has a patent issued? Is it valuable? These are some of the questions that need to be answered before worrying about royalties.

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William B. Richards, P.E.
The Richards Law Firm
Patents, Trademarks, and Copyrights
614/939-1488

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