Patent Help – Attaining a Patent

This Patent Help post on attaining a patent aims to give you an overall view on the patent process. Attaining a patent is not quick process and it is not for the weary. However, getting a patent can be the difference between millions of dollars in royalties and looking back at someone else getting rich from commercializing an invention you could have protected first.

Below, we offer a variety of tips to help you save money, ensure that the product you want to get a patent on is viable, and to help you create an effective strategy.

Patent Help: Conducting Market Research

This patent help article discusses how to conduct market research. It is critical that you conduct thorough market research to evaluate the current products that are on the market that are solving the same problem your product intends to. Many inventors believe their product is completely unique but fail to consider substitute products. For example, if ketchup did not exist, individuals would use other condiments to garnish their burgers and hot dogs.

After you identify the products, identify the companies that profit from those products being on the market from the patent holders to distributors to manufacturers. Knowledge of your competition will also help you identify potential target companies for creating a potential licensing or sales agreement with. Additionally, understanding the sales channels for products like yours will help you identify potential direct buyers of your product.

Patent Help: Conducting a Patent Search

This patent help article discusses conducting a patent search.This is a hot topic for many inventors and I have made the mistake myself in the past. You get extremely excited about the product that you fail to conduct a patent search and end up blowing thousands of dollars on useless patent work. Take the time to first conduct a patent search yourself and then have a patent attorney do a thorough review.

Patent Help: Creating Something You Can Patent

In this essay we discuss creating something you can patent. Some inventors make the mistake of assuming that you can patent an idea. You cannot. You will need to create a tangible product to secure a strong patent. Note that your claims in the patent are key to being able to keep others from producing your product.

Patent Help: Filing a Provisional Patent

Filing a provisional patent help can help save you a tremendous amount of money. However, be sure to discuss your strategy with a patent attorney to ensure your provisional is properly filed.

Patent Help: Creating a Prototype

Creating a prototype is critical to generating serious interest about your product. You need to be able to let people see how your product works hands on or at least be able to paint that picture for them. Even a simple prototype beats no prototype.

Patent Help: Identifying Your Objective (License, Sell, Build)

It is critical to identify what your commercialization strategy for your innovation is. Are you looking to sell your patent outright to the highest bidder or any interested party? Are you looking to license the product for ongoing royalty income? Or, are you looking to grab the bull by the horns, overturn the status quo, and build an empire? The objective will help identify the proper strategy for getting to your destination.

Patent Help: Creating a Business Case

Why is your product valuable? To consumers? To companies? How does it fit in with a companies current product line? How do you envision in being placed on shelves? What are your profit margins? How can this product scale? etc.

Patent Help: Creating Professional Materials

You must present yourself as a professional to be treated like one. You need to have a professional presentation ready to go for meetings with investors, banks, and potential business partners.

Patent Help: Manufacturing (Contracting? Local? Overseas?)

How are you going to deliver your product if someone wants to place an order? Where will you manufacture? Lead times? Costs? Terms?

Patent Help: Business Development (Purchase Orders)

Getting someone to pay you for your innovation can be one of the most difficult obstacles for inventors to overcome. If sales is not in your blood, get a partner on board who has a proven track record.

Patent Help: Negotiations

You need to identify the important factors you must have in a deal and those that you are willing to negotiate. Negotiation is like dancing – it is easy to be very, very bad at it.

Patent Help: Full Patent Filings

It is in our opinion that you should only file for a full patent after you can convince someone to pay you for the product or if sufficient traction has been generated by a product. The reason we advocate this is not to allow for others to steal your invention. A provisional patent provides you with 12 months to successfully validate your innovation in the market prior to having to spend the additional capital to file a full patent. If a budget is not a major concern of yours, you can file for a full patent but keep in mind that your innovation may change based on market feedback.