You have a patentable invention, that fits your business model, and is novel, so the next step is filing a patent. It helps to know how much you want to spend and when you’ll have to spend it. A patent application is a commitment, often taking years to go from application to enforceable claims.
What are the benefits of having a patent?
Advantages of patents
- A patent gives you the right to stop others from copying, manufacturing, selling or importing your invention without your permission.
- You get protection for a pre-determined period, allowing you to keep competitors at bay.
- You can then use your invention yourself.
Why might inventors want to get patents?
Patents are important because they help inventors protect their inventions, products, or designs from being copied and stolen by others for a limited period of time, usually for fifteen or twenty years, depending on the type of patent.
When should you not patent?
U. S. law provides you will lose your patent rights if you sell, offer for sale, publish, or publicly use your invention more than one year before filing a patent application on that invention.
What are disadvantages of patents?
Disadvantages of Patents
- Details of the invention are publicly disclosed.
- The application process can be lengthy and time-consuming.
- A patent can be an expensive process even if it unsuccessful.
- A patent has to be maintained, and there are costs associated with that.
Does a patent really protect you?
Contrary to popular belief, a patent does not protect your technology from being infringed upon by a competitor. It merely affords you with legal recourse in the event that someone does.
What happens if an invention is not patented?
The first person or enterprise to file a patent for an invention will have the right to the patent. This may in fact mean that, if you do not patent your inventions or inventions made the employees of your company, somebody else – who may have developed the same or an equivalent invention later – may do so.
Is it worth having a patent?
Is it worth patenting my invention? There is no point in paying to patent your invention unless it is commercially viable. You must also be prepared to enforce your rights (by discovering and proving any infringement) which might risk the expense and uncertainty of litigation.
What to do if you can’t afford a patent?
Yes, unless you patent your invention someone else can reproduce it. If you cant afford to patent your invention, there are pro bono services that you can use at the US Patent and Trademark Office.
