Anyone who wants to secure exclusive rights to sell, produce, and use an invention that he created for a certain number of years must first secure a patent. A patent is a very specific type of document that contains the complete details of the terms and conditions set by the government so that the inventor can take full possession of the invention. The contents of the document also offer the holder of the patent the right to be compensated should other people or organizations infringe on the patent in any way. In this case, the patent holder has the right to pursue legal action against the offender. The terms of possession are also known collectively as the inventor’s “intellectual property rights.”
Applying for a patent is beneficial in many ways. First, you have a powerful instrument to defend and safeguard your ideas and creations. Second, you hold a legal document that clearly states companies and individuals need to pay a certain amount if they choose to use your original ideas. Here are a few helpful guidelines on how you can secure a patent for your inventions.
What you need to prepare for
Before you take the first step towards securing a patent, you must realize that the process takes time, effort, and a considerable amount of resources. Based on existing regulations, the acquisition of a basic patent takes an average of six years. You must be prepared to spend a considerable amount of money on attorney fees. Moreover, the patent industry deals with products differently. For instance, requirements and agreements for telecommunications and biotech products are different from consumer devices.
What you must decide on
It is also important to study the product or idea that you have created. You have to determine what kind of patent is most appropriate. Perhaps a trademark is the better option instead of a full patent. If you eventually decide to patent your idea, you can also develop and file it yourself. Experts warn those who decide on taking this road that it requires around 150 hours spread in a course of a few months in order to get started. The work continues for many years thereafter. Someone who has the patience and the attention to detail to come up the necessary paperwork can produce a DIY patent. Do you have these qualities? If so, you need to prepare yourself for the work involved.
What you need to know
You also need to know whether your invention qualifies for a patent. Is your idea or creation eligible for patent protection? This entails having an understanding of the patent laws in your country. There are specifications under existing laws that you must learn. In addition, do a patent search so that you can be sure that your invention is singular, unique, and different from anyone else’s offering. If someone already has a patent for a similar idea, and there are insufficient differences so that your invention can be considered original, they your application will definitely be turned down.
Do you have an idea or product that can become an asset and a possible source of income for you? Learn about patent laws and the process of securing one, and you are on your way to turning your brilliant concept into money.