Marketability tends to be a prime factor in determining if patent protection will be pursued. An invention may relate to a device, article of manufacture, composition of matter, new use, process or any improvement thereof. A patent secures to its owner the right to take legal action to prevent others from making, using, and selling the invention for a limited period of time. A patent is granted for a term of twenty years from the date on which it is filed. The entire process of securing a patent may take from two to six years.
Maintenance costs add several thousand dollars per patent.
Through the marketing and licensing of inventions, TTP renders a number of benefits to the inventor, the laboratory, the department, and the institution, including income from various license fees and milestones, royalty income from the sale of products or services, research support, gifts or loans of scientific equipment, consulting arrangements, and unique opportunities for collaboration. TTP is responsible for implementing the Northwestern University Intellectual Property Policies, which include the Patent and Invention Policy and the Copyright Policy. A new Patent and Invention Policy was developed last year by TTP in conjunction with the Intellectual Property Committee, Office of General Counsel, and Office of the Vice President for Research. The revision process also provided an opportunity to recognize the current role of TTP, which did not exist, as such, in 1974 when the prior policy was written. A draft Copyright Policy is currently being reviewed.