So You Think You Have A Patent Idea?

So you have been bitten by the invention bug and have come up with one of the most brilliant ideas, which could change the way the world thinks or moves. Or that is what you tend to believe. Before you start daydreaming about the fortunes you are likely to make once your invention hits the market, the first thing you ought to do is to ensure that no one steals it or copies it and start making their own millions. You need to patent your idea, and start calling it not just ‘my idea’ but ‘my patent idea’. The most important reason for patenting your idea is that this is the one and only way you can protect your idea and legally call it your own as described by Invent Help patenting agency – learn more about InventHelp. So who gives a patent and how does one get an idea patented?

All patents are awarded by the United States Patents and Trademark Office or the USPTO. You can easily visit their website to access all information pertaining to patents – search, filing, application, etc. It is important to note that all ideas and inventions cannot be patented. In case someone else has already thought of the idea first and has patented it, the next person cannot obtain a patent for the same idea. To know whether your idea has been patented or not, you have to do a patent search and can file an application for a patent only if the idea is free and not patented yet. You can do online search for your patent idea.

After you have done a patent search and found that your idea is still patentable, you can either file a patent application yourself, or seek the assistance of a patent attorney or patent agency like Invent Help for doing so. You can find InventHelp reviews online for more info. USPTO even helps you to locate a good patent attorney. To file a patent, you have to pay the usual stipulated patent fee.

While inventions, innovations and ideas can be of various types, there are three types of patents granted: utility, design and plant. Each type of patent has a specific application. The patent application must include the name of the inventor, a short description of the idea or invention, the function and purpose of the invention, drawings, charts, testimonials and all other information relevant to the invention. Instead of a final patent, you could also apply for a provisional patent for your idea. These patents are valid internationally, though only for a year. During this time, you could do any change or modification to your design or innovation and re-submit the patent idea for final approval.

After your patent application has been submitted it will be thoroughly examined and reviewed by the USPTO. This is a time-consuming process since USPTO office is flooded with patent applications round the year. The patent examiner will have to make sure that your idea is unique in all respects. If your idea is found suitable, the USPTO will grant you a patent. If you find that your idea is rejected by the patent office, you could dispute it and try to file it again, with the help of a patent attorney, who will argue for the case on your behalf.

Invention ROI

Can your invention, once it enters the market, cover all the costs associated with delivery it to the customer? Can you make money after all of the manufacturing and assembly costs, the sales and marketing fees and commissions, the distribution revenue sharing agreements and any necessary logistics support?

Logistics support includes maintenance and repair, replacement parts inventory, return policies, training and any other associated fees and services that may be required to keep your invention in the hands of a happy customer.

Will your invention earn enough to get an investor excited? Investors, whether amateurs or professionals, seek a return on their investment usually measured in ROI. There are professional patenting offices like InventHelp that will help you in your process. Does your invention have the potential to deliver a good ROI in a reasonable amount of time?

There are many other compensation related issues, but these are the key ones. Notice, we haven’t mentioned you getting a dime yet, unless of course your invention is 100% self funded, then you should be a very prudent investor and seek a reasonable ROI for yourself.

You can do everything else right, get this wrong and lose it all. Control includes your intellectual property protection such as patents, trademarks, trade secrets and copyrights as described by patenting professionals from Invent Help.

It also includes issues such as your rights in licensing and partnering agreements. You will probably need some type of help to get your invention to market. Just make sure that you don’t lose control unnecessarily while you are getting that help.