The Facts Behind a Patent
If you believe you've invented both a unique and useful idea you may be considering whether it's necessary to obtain a patent. A patent is the only method of protecting your invention financially but may not be as easy and quick as one might like.
Here is a basic overview of a patent, obtaining a patent and the benefits to consider before moving forward:
- A patent serves to block others from illegally making, selling or capitalizing on your business method, machine, product or intellectual property. Typically the term of a patent is 20 years from the filing date or 14 years for a design patent.
- A patent only offers protection within the US and only if you catch someone else using your idea. It essentially gives the owner the right to file and recover damages against anyone that uses your invention without asking permission. But, doesn't stop someone from trying to.
- You are not required to have a patent to create, produce and sell a product. However, someone else can come along and duplicate your efforts, obtain a patent and put you out of business.
- Many companies each year are strictly in the business of filing for patents to legitimately file suit, and financially gain, from those companies that haven't taken the time to legally protect their product.
- There are three kinds of patents that may be filed. A utility patent is the most common patent and is used for an invention of a new and useful process, product or matter. A design patent is for a new and original industrial right. A plant patent is for the invention of any new variety of plants.
- Before filing for a patent you must determine if your idea is novel. This means you can prove your idea is different from any other similar idea in an important manner.
- A patent requires several legal documents and can be expensive to apply for. Once obtained, maintenance fees exist for keeping a patent active. If you don't pay those fees your invention will go unprotected.
- Performing a patent search, prior to development may save you significant time and money from creating an invention under an existing patent. Search may be performed online for more current years.
- A provisional patent may be filed during the finalization of a new design. This provides protection for approximately one year before another company may come in and file for a patent on the same idea.
In some cases the cost and time associated with patenting a product may not cover the revenue potential if the product is a unique to a small segment industry. If you have further questions about whether you should obtain protection, many patent attorneys are available to assist.
