In patent law, PHOSITA is a mythical person of ordinary skill in the art. This fictional person is considered to have the normal skills and knowledge in a particular technical field, without being a genius. In our World’s Best IP Blogs series, PHOSITA happens to be an Intellectual Property blog of the Oklahoma and Washington based law firm of Dunlap Codding. The blog is not specific to patents alone as would be expected from a blog named “Phosita”; it is in…
Intellectual Property (IP) plays a very important role in providing competitive and business advantage to a company. In order to maximize competitive advantage, a company must make the best and most of its intellectual assets. The owner of any Intellectual Property can procure financial rewards for its use. This is because like tangible property, if ownership of an IP can be clearly established, the IP could be sold, leased, licensed, assigned or mortgaged. IP and Money have always been related…