How to determine if your business needs a patent

Patents can be incredibly beneficial and useful for businesses, as they protect both your product and process from imitation or use by others. You may be questioning whether you need a patent to effectively protect your business’s innovations, or if it would just be an extra expense that isn’t needed. 

Although there is no one-size-fits-all answer since each business and situation is different, understanding the basics will help you determine if getting a patent is indeed the best strategy for your business. Keep reading to learn more about when and why you should consider applying for a patent.

Establish the type of invention

Before applying for a patent, you must first determine if your invention qualifies as patentable material. Generally speaking, an invention must be both useful and novel to be eligible. The invention needs to be something that “has not been patented or described in a printed publication in any country before the date of filing your application, or was not in public use or on sale in this country more than one year prior to the date of filing.”

Here are some factors every eligible invention should have:

• Process: A process is defined as a way of doing something, such as manufacturing or handling products.
• Machines: Machines are physical objects that use energy to perform particular functions and tasks.
• Manufacture: Manufactured products refer to anything made using human labor and a certain amount of material.
• Composition of matter: This refers to the combination or mixture of different chemicals, makeup, or materials.
• Improvements: Improvements are inventions that add new functionality or design elements to existing patents or products.
• Useful:  An invention must provide a practical solution to a problem.
• Non-obvious: The idea behind your invention must not be obvious or have been done before.

Once you have established that your invention meets these criteria, you will have a better understanding of whether or not it is worth patenting.

Research to see if anyone else has a similar invention

To ensure that your invention is truly unique, conducting research to see if anyone else has a similar invention is essential. Remember that similar does not necessarily mean identical, so thoroughly scouring through existing business patents is necessary. For patented inventions, you might want to have a blocking patent to prevent modified versions — this way, a third party cannot exploit this modification. Through this diligent investigation process, you should ensure that your idea is free from any potential infringement on someone else’s patent, and vice versa.

Gathering this information may also provide insights for improving your invention, making it stand out even more in the market. As an inventor, being proactive in your research can help protect your idea and increase your chances of success.

Consider filing for a provisional patent application as a starting point

If you’ve come up with a ground breaking idea, it’s crucial to consider protecting it with a provisional patent application. This will give you the time you need to develop your idea before committing to a full patent application. A provisional patent application is cost-effective and will give you the added benefit of having the term “patent pending” associated with your idea.

With this protection, you’ll have the peace of mind to explore and develop your idea without worrying about others stealing it. Keep in mind that only new and non-obvious inventions can be patented, so make sure to do your research to ensure your idea meets the requirements.

Ultimately, filing for a provisional patent application is a smart move for anyone starting on the path of intellectual property protection.

Calculate the cost of filing a patent application

Filing a patent application can be a costly process, but it ultimately provides valuable protection for your invention. The cost of filing a patent application varies depending on a few factors, including the complexity of your invention and the country you are filing in.

In the United States, the basic filing fee for a patent application is $330 for a small entity, but it can increase if you choose to request expedited examination or file additional claims. It is important to consider the potential return on investment that obtaining a patent can bring in terms of licensing and potential revenue from your invention. Additionally, there are resources available for inventors who may not be able to afford the full cost of filing a patent application, such as pro bono legal services and government fee waivers for qualifying applicants.

Determine the scope of protection provided by the patent

When inventors obtain patents, they are granted the exclusive right to make, use, and sell their inventions for a limited time. Patents are incredibly valuable assets, protecting a company’s research and development investments, and offering competitive advantages in the market. Here you can see some news about business safety.

To determine the scope of protection provided by a patent, it’s important to understand its claims, specifications, and legal scope:

• The claims define the invention’s essential elements.
• The specification describes how to make and use it.
• The patent’s legal scope outlines the extent of the protection offered by the patent, which covers products, processes, and even certain methods of use.

Patents are complex legal documents, and determining their scope can be daunting. However, with the help of a skilled patent attorney, inventors can confidently navigate the landscape and reap the rewards of their hard work.

Assess the potential market for your invention

Assessing the potential market for your invention is a crucial step toward commercial success.

Conduct thorough research to understand the needs and preferences of your target audience.

Begin by identifying who your invention is best suited for and explore what similar products or services are already available in the market. This will help you assess the demand for your invention and identify any gaps that you can fill. You may also want to consider pricing, distribution channels, and marketing strategies to ensure that your product reaches as many potential customers as possible. By taking the time to assess the market and tailor your approach accordingly, you’ll be well on your way to bringing your invention to the masses.

Types of patents 

Patents are a vital aspect of protecting intellectual property. There are three primary types of patents. Let’s take a closer look.

Utility patents

They are the most common and offer broad protection for inventions that are new, useful, and non-obvious. It can cover machines, processes, articles of manufacture, and compositions of matter.

Design patents

They protect the ornamental design or shape of an object’s surface features. Note that these designs must be visibly different from other existing designs.

Plant patents

They are granted to a person or entity who has invented or discovered and asexually reproduced any distinct and new variety of plant.

From the research needed to consider filing for a provisional patent application to exploring the potential market of your invention, there’s much to be taken into account.

Once everything is carefully considered, there will be no limits when it comes to bringing your creation to life. With a solid plan of action and determination, anyone can ensure success during this journey toward inventing something new and patenting it.

21/04/2023