Enforcement, Infringement and Monetization of Intellectual Property Rights
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Not only is it important for medical device companies to obtain intellectual property rights, but they must also actively monitor for infringement of those rights, and seek enforcement of their IP rights. Medical device companies must police the market and the activities of others and take steps to prevent, avoid, and mitigate infringement and must take steps to enforce their rights. There are a variety of causes of action that might be available, including misappropriation of trade secrets, patent or trademark infringement, or trademark dilution. These matters can be resolved in a number of different ways, such as through mediation, licensing agreements, royalty payments or litigation. Medical device companies need to carefully considered how best to monitor their intellectual property rights, and how to handle any problems that might arise concerning those rights.