Can I file a patent under an LLC?

When seeking to acquire a patent, the inventor may use a limited liability company (LLC) as owner of the patent. There are many opportunities that an LLC can provide to the inventor which may not exist for a single inventor working alone.

Is patent first to file?

In a first-to-file system, the right to the grant of a patent for a given invention lies with the first person to file a patent application for protection of that invention, regardless of the date of actual invention.

Should I assign my patent to my company?

Assigning your patent rights to your company helps to build the asset valuation of your company, which will be important to any investors or lenders you may seek. Investors and lenders will often require you to assign patent rights to your company before they will complete a transaction with your company.

Can an LLC own intellectual property?

The easiest way to protect the IP is to simply put it in a separate limited liability company (LLC) that has been properly structured. Then, the IP LLC can lease or license its intellectual property to the Opco (it is important that the license agreement and money exchange be real and done at arm’s length).

Who gets patent first?

For many years, the United States awarded the patent to the applicant who could prove that he or she created the invention first. But through the enactment of the America Invents Act, the U.S. has shifted to instead awarding the patent to the applicant who files the patent application first.

Where do you file a patent first?

An inventor should try to file their application with the USPTO as soon as they have determined that their invention is eligible for a patent. The main way to establish their rights efficiently is to file a provisional patent application.

When should you patent an idea?

Under U.S. patent law, you must file your patent application within one year of the first offer to sell your invention, or within one year of your first public use or disclosure of your invention.