Do You Need a Patent to Protect Your Invention?

For inventors, a patent is one of the best protections you have to ensure the marketing safety of your product. It is always important to apply for a patent if your product has the potential to make a large profit. Most people will not attempt to copy a failed product. In essence, an inventor should understand the future of their product before deciding to apply for a patent.

Another time to apply for a patent is if your product has plans of being licensed. Most licensing companies will not accept an invention if there is not patent to protect it from intellectual property theft. It would be too costly for most of these companies to develop a product and market it if it does not have a patent. This is a situation where a patent is absolutely necessary for a product to make it on the open market.

It may not be necessary for a patent application if you are planning on selling the invention for a limited amount of time. If this is part of your plan, it is not suggested to worry about receiving a patent. The fees for an accelerated processing time can cost up to $4,000 and may take up to 12 months. Typically, these types of products are not worth the investment in a patent due to the high costs that are often associated. However, it should be noted that many people will exert a lot of energy in trying to swindle your ideas and call them their own.

Many inventors would advise that new invention ideas should be run by a patent lawyer who can help you in deciding the future of your product. These lawyers will have valuable insight as well as provide you with the information an inventor will need to successfully launch their product. Furthermore, another decision that should be made is the speed at which a patent should be filed. If a product has a lot of development that still must be done, a patent to prevent others from stealing or borrowing your idea may be a good situation in which a patent should be applied for.

About the Author

The America Invents Act of 2011 stands to change the playing field for innovators and entrepreneurs within the patent process quite significantly. People should be aware of Patent reform issues and initiatives such as these.