Coming up with the idea is the first step now you need to protect that idea if you want to process further. Understanding the key aspects of Intellectual Property is going to help you build a good base to work from.
Many patent owners choose to sell their patents, either because they can’t afford the maintenance fees to the patent office or their patent lawyer fees. Typically, inventors sell patent due to the fact that they can’t get the product to market effectively or they are not making any sales. The sale of a patent involves more money upfront but does forfeit the loyalties if you were to hand over the license of the product. So what should you do? Patents do however generally earn more over time from the loyalties than selling the patent so think twice about selling and […]
Licensing your patent is the path than many inventors choose to go down. They do not want to get involved in the manufacturing and marketing side of things so they choose to earn a percentage of royalties from sales. Typically loyalties ranges from 3 – 5%, this number can be changed once you see how bad or well your product sells. By licensing the invention you have the choice to give the license full exclusive rights or non-exclusivity giving you the right to use other party. Typically using two parties in the same industry isn’t done. Taking your product from […]
Dependent on which patent you have, either Utility, plant or design. Utility and plant patents granted after 1995 have a life of up to 20 years. Design patents have a shorter span of up to 14 years from the date granted. Remember all patents require you to continue paying maintenance fees of the patent will lapse. The maintenance fees are dependent on the country you are in and the type of patent granted. This could cost anything from $1000 to $5000 and only required after a given period.
A standard patent gives long-term protection and control over an invention. It lasts for up to 20 years from the filing date of your complete application (or up to 25 years for pharmaceutical substances). The invention claimed in a standard patent must be new (novel), involve an inventive step and be able to be made or used in an industry. An inventive step means that the invention is not an obvious thing to do for someone with knowledge and experience in the technological field of the invention. Your invention must differ in some way from existing technology, but the difference […]
There are several different types of patents to choose from but I am listing the most common below: Utility Patents Design Patent Plant Patent Reissue Patent Defensive Publication Statutory Invention Registration
Patent pending is an expression that basically means the “patent has been applied for”, which should be enough to ward off potential infringers. The term Patent Pending is allowed to be used prior to the patent being issued but is only allowed after the patent application has been filed. Typically the Patent Pending is seen on manufactured on everyday goods informing people that you have filed for an application and waiting to see if it has been granted. Once the patent has been approved the phrase will be removed and the actual patent number will be referred to. Infringement of […]
To get your product to market there are obviously costs involved. This is not a problem if you have disposable money, but most often the inventor will need a loan, a partner or investor. Before spending your own money it is advisable to search through Government Websites and see if you qualify for a grant or funding. The inventor may choose to seek investors. Investors will usually request more than the lion share as they might not recoup their investment. This high risk is usually why they ask for a large share. In this case the investors are know as […]
Before you consider getting a patent, its a good idea to do a quick patent search and see if anyone else has come up with the idea and/or filed an existing patent. At Inventionsteps we use google patents most of the time. This is a free to use website where you can search existing patents but for more detailed searches we recommend Esp@cenet. To get a full patent search done it is recommended to get the assistance of a patent lawyer. A patent lawyer will use his network and search all know databases. We can get this detailed search done for you. Its […]
Here are some steps to see if you qualify for a patent. Your idea / invention is not one of the following – a law of nature, physical phenomena or abstract. Your idea / invention is not one of the following – literary, musical, dramatic or artwork. These are possible to be copyrighted not patented. Is you idea / invention useful? Does your idea / invention cause offence to anyone else. Is your idea / invention novel? This means no one else has come up with the invention before you did. Is there a patent pending for you idea / invention? Is your […]
To be able to patent something your idea needs to be new (novel), involve an inventive step and be non obvious. Certain countries have exclusions on things being patented such as nuclear bombs. In general a patent will be granted for an invention as long as it is: New or Novel Involves an inventive step Is capable of Industrial / useful application 1. New or “novel” The invention must not have been made in public in any way, anywhere or before the date on which the application for a patent is filed. 2. Involves an inventive step This step must not […]