A 10-Point Plan for Inventors (Without Being Overwhelmed)

Considerations to Get a Patent

With patent protection, you have the right to prevent others from copying, manufacturing, selling or importing you original creation without your permission. You are not only protected from the financial cost and the cost of time in researching and developing it, but also allows you to reap the fullest benefits of that invention or that innovation. It also allows you time to establish you trade and bars others from entering that same pursuit eve if they are financially capable.

It might be very useful to patent your creations yet it is not the main thing that will make you successful. So, before pouring out your money in securing a patent, you need to take some steps to make sure that this business move is a smart one. For after all, rarely do patent products ever make it to market.

So before you decide to move forward in patenting your invention, it is crucial to first evaluate your idea if your invention has a viable commercial value. To help you do that, you have to understand your product, your target market and what other products are available that is serving the same market. You should go beyond gut feeling and the encouraging comments from your friends and family. You have to gain this understanding from a solid market research and a substantial attention to product development.

You have to make sure that your idea does not infringe on someone else’s patent. Government records can be searched in order to find out if there is a patent for a similar product. When you search these government records make sure you check the keywords for every possible concept of the invention. Then after the pry-at search, the freedoms to operate search which has something to do with the protection period of the patent. In this search you will be able to tell if someone has already gotten your idea.

You can also hire an expert to help you in this task.

Next is to develop a basic prototype or a model to determine your product’s functionality. Here your invention is tested and reworked so that an acceptable model will come out from it.

If you now have a perfect model, you can start to define you market and determine how much large the market is. If you product is too small, its commercial viability might not be good.

Next comes determining the cost of manufacturing the product. Determine whether the production cost is less than the price the market is willing to pay for it.

So when everything is considered there are no more roadblocks to commercial success, now it is time to consider if you need a patent for it or not.