If you are an inventor, you have likely thought about patents and the patent process. You may have even rejected the idea of getting a patent. You may think it is too expensive or the process is too complicated. However, there are several reasons to have your invention patented. The following are among the most significant.
To protect your invention
This is obvious to most people, but it should be mentioned because if your product is successful, there will be imitators. This is a given assumption in business. However, if you have a patent, other companies will know where the line is between imitation and patent infringement. Without a patent, a good invention is likely to be stolen, but with a patent, your invention is less likely to be stolen. And if someone attempts to steal your invention, you will have legal recourse.
To raise start-up capital
If you decide to create your own company and sell your new invention on the market, you will need investors for your startup company. A good invention can mean making a lot of money, but if you are starting your own business, you will need sufficient capital to be successful. A popular new product on the market can translate into a rapid expansion of your new business. But even with a well made prototype to show investors, few people will buy into your business without a patent. If your new invention is not protected by law, then their investment will not be protected either.
To sell your invention
If you decide not to start your own business, you can always attempt to sell your invention. Large companies buy inventions all of the time. A good invention can save a company money on product research and development. However, a company is less likely to buy your invention without a patent or patent pending. Without a patent, what would a company be buying? Perhaps your prototype, but that is not likely of interest to a company. With a patent, they are buying your invention that has been registered with the U.S. Patent office.
The patent process can be complicated, but this is only if you attempt to do it yourself. A patent attorney can look at your invention and give you advice on exactly how to go about getting your patent. Not every invention can be patented, and in some cases, there may already be a patent. More importantly, if your invention can be patented, an attorney can help with the documentation to make the entire process easier than if you attempted it yourself. Everything will be done properly, and this will reduce the chances of mistakes in the application process.
Visit a website like chabotlaw.com for more help.Share