Myopia is generally what happens when unprecedented opportunities are placed before them. Those in the know generally do better than those in the worry. Consider Cetus, a startup biotech with a focus on a liver drug. The FDA delayed the approval of the drug, and a major funding crisis ensued. Chiron offered to take over the liabilities contingent on the sale of two patents (# 4,683,202 and # 4,683,195) to a third party, Roche Molecule for $300M (in 1993). This sale was stalled because DuPont challenged the validity of the patents, based on the formal claims written by the inventor (not a patent attorney), Kary Mullis. In the end, the soap opera turned out well for the investors with weak constitutions. For $300M, they sold the two patents to Roche, turned the company over to Chiron, and walked away. Kary Mullis won the Nobel prize for his invention embedded in these two patents, known as polymerase chain reaction (PCR) which allows DNA to be cloned. Over 4000 patents in biotech cite these original two patents. In our estimation, $300M represents "pennies on the dollar" valuation of these patents. The shareholders got a payday, and left the game. Roche on the other hand is thriving based on its intangible assets. Let IPstreet.com assist you.
A patent is a property right for an invention granted by a government to the inventor. A United States patent gives inventors the right "to exclude others" from making, using, offering for sale, or selling their invention throughout the United States or importing their invention into the United States. In exchange for this monopolistic protection, the inventor must publicly disclose the invention (the patent document) and must pay the United States Patent Office (USPTO.gov) to prosecute (application fees) and maintain (maintenance fees) the patent.
In celebration of Noah Webster's Birthday (October 16, 2009), we have prepared an updated website. 
