The application process can be lengthy, tedious and expensive. Once granted, most monopoly rights run for a fixed term. Once they expire, they are open for anyone to use. Finally, and with justification, it has been said registering intellectual property is only worthwhile if a company or individual has the available finances to take legal action when infringement occurs. There are alternative means of protecting intellectual property.
Trade secrets can be effective in maintaining commercial advantage.
However, relying on keeping intellectual property a secret can be just as tedious and expensive as registration, and the ability for competitors to reverse engineer must always be taken into consideration. As mentioned, obtaining monopoly rights can be a tedious process. For this reason, most companies employ patent attorneys to handle applications on their behalf. Patent attorneys typically have a background in both technical and legal areas. An experienced patent attorney is able to grasp most technical innovations, understand the associated legal implications and advise accordingly.