If you are considering applying for a patent, the application process can seem murky and confusing. A key question many inventors have is - how much will it cost?
Should you work with an invention promotion company?
It's very difficult to go from an idea to turning it into a finished product that is ready to put on the market.
It can feel overwhelming, which is why invention promotion companies can seem appealing to inventors. Unfortunately, many of these invention companies are not the good deal they claim to be. Here are some signs an invention company may not be legitimate:
What happens if a patent is struck down?
Johnson & Johnson holds the patent for Zytiga, a cancer drug used to treat prostate cancer. However, a U.S. district court just invalidated the company’s patent, which could open it up to competition from generic versions of the drug.
The company has filed an appeal and asked the court to hold off on allowing generics until the appeals process is finalized.
How long does it take to get a patent?
It's important to go into the patenting process with appropriate expectations. Whether you have an idea for a new consumer product, or want to accelerate growth at your tech startup by improving on current technology, patents serve a range of purposes.
Patents help protect your intellectual property, but are difficult to obtain. The application process can be long - the average time to obtain a US patent is about 2 years.
Patentability of inventions
Creating a new process or product that helps others accomplish a task in a new way is an exciting endeavor. If your invention proves successful, you can obtain significant advantages by obtaining a patent for it.
Before you file for patent protection you'll want to investigate whether your invention is patentable. Certain types of inventions are not eligible for patenting, such as abstract ideas or products of nature, so you'll want to avoid spending time and money filing for an unpatentable invention. In addition, searching for patents on similar products is an important part of the patenting process.
The benefits of hiring a patent attorney for your invention
You have a new idea / invention that you want to bring to market. You believe your invention will change the world, aid others in some way or perhaps simply provide entertainment and pleasure. It's likely you want to protect it.
If you're able to obtain a patent, you will own the right to prevent others from making, using or selling your invention. Although it's possible to file a patent application without using an attorney, the lengthy, confusing aspects of the patent process may make you wish you had. Between knowledge, expertise and commitment, a patent attorney provides the reliable help you need to securely maximize the rights to your invention.
Can the patent application process be accelerated?
The primary stages of the patent application process include:
- Patent search and application preparation
- Working with the patent office via a patent examiner
- Patent maintenance, if a patent is approved, requiring renewal fees
Patents as public disclosure
As an entrepreneur, intellectual property of some kind, and protecting it, is likely a critical aspect of your business plan. Whether it's a trademark that builds your brand, copyrights that protect your creative works, or a patent for your invention, you have to bring something unique to the market and try to legally protect it.
A patent can be an extremely valuable asset for protecting an invention.
A patent gives the owner the right to exclude others from making, using or selling the described invention, for up to 20 years. The essence of the 'deal' between the government and an inventor is a 20-year monopoly, in exchange for public disclosure of the invention.
The public disclosure allows others to read about the idea and then make improvements (possibly getting their own patents) - with the overall goal being to encourage innovation and progress.
With one exception, all patent applications are disclosed to the public 18 months after the earliest filing date.
Should you register for a trademark?
If you have a new product or service and would like to establish a brand name, then it may make sense to try to establish protection for your brand name, by filing for federal trademark registration.
Patents: What is prior art?
If you have an idea which you think is patentable, you may decide you want to move forward and try to obtain patent protection. Before you can proceed with protecting your invention, however, it's important that you understand what is known as "prior art."
That term is used to describe all publicly available information, anywhere in the world, that in some way relates to your invention. You cannot receive a patent unless your invention is new, as compared to what is taught in the prior art.
