Alternative Dispute Resolution
A strategically built Intellectual Property (IP) portfolio can result into best investment in terms of financial gain or profitability if properly leveraged. However, time is an essential feature in leveraging an Intellectual Property (IP).
Many Intellectual Properties (IP) go into vain due to failure intended exploitation, due to unexpected litigations. Such time-consuming litigations are enough to ruin value of Intellectual Properties (IP) particularly where the monopoly rights are granted for limited period e.g., patents, designs etc. In other cases, also the intended exploitation cannot be achieved once it is interrupted by unexpected litigations.
Alternative dispute resolution (ADR) is the way-out to save time from complicated, costly and time-consuming court proceedings. There are some situations, when it is advisable to settle the dispute through Alternative dispute resolution (ADR) mechanism. Alternative dispute resolution (ADR) includes settling the case with mediation, arbitration or conciliation methods. They are basically less time consuming and are very efficient. They are very beneficial in cases where the infringement of IP of a particular person was unintentional or it’s arising out of IP license breach. Alternative dispute resolution (ADR) is a simple, less time consuming and cost-effective process; however, negotiating and arriving on the terms of settlement which are beneficial for both the parties can be very tricky. Further, proper drafting and execution of of settlement deed is also equally important.
We at Delhi IP assist our clients through our Patent Agents/Attorneys who have relevant scientific/technical background along with a sense of business in particular technology domain help them in negotiating and arriving on beneficial terms of condition of settlement.