The results of the market evaluation are the most critical factors in the decision to apply for a utility patent. Patents are mere economic tools and therefore should be used only for inventions which have economic value. Calculating the economic value of the invention is the sole aim of market evaluation. Commercial viability is determined, in which maturity level, barriers to entry of the market, and competing research/products factor into the assessment.
Intellectual Property Evaluation
In the university setting at Lehigh, inventions are the most relevant form of intellectual property. There are a few different forms of intellectual property protection. These include copyrights, trademarks, and patents. At Lehigh's Office of Technology Transfer, the primary focus is patents. Patents, do not necessarily give the holder the right to use their invention. However, they do provide their owner the right to exclude others from using their invention. Thus, they can be a powerful business tool. Determination of patentability consists of both a Non-patent publication search and prior art search (SOP -- Prior Art Search)
Potential Target Identification