To remain competitive, you need assistance. Someone can be sued if they copy your invention. Want to prevent this? Enlist the help of a patent lawyer. At -, they specialize in helping tech entrepreneurs like you win with patents so you can stay ahead of the game and succeed as an entrepreneur!
What is a patent and why should you care about them?
Patents are binding documents that protect inventions from being stolen. They are registered with the US Patent and Trademark Office.
A patent has two main components:
-The invention, which is usually a new product or process.
-The claims, which are statements that define the scope of what’s being protected by the patent. A water bottle with an internal filter is an example of a claim, which specifically determines what the patent protects. Claims may be written as limitations to protect aspects of a product.
Patents give you something concrete to use when negotiating licensing deals with other companies or defending yourself against legal challenges from others.
How You Can Succeed by Using Patents
Patents can help your business succeed by providing a legal barrier to competition. If another company wants to copy your product, they will need permission from you (the patent owner) and may have to pay royalties for every unit sold. If you already have a patented invention, it’s important that you do everything in your power to protect that asset; if someone steals your idea and starts selling it, you could lose your patent for that idea.
Depending on the type of invention or design, the costs associated with a patent can be very different. An intellectual property attorney can give an estimate tailored to your case – - has an excellent article about this.
Examples of Entrepreneurial Success with Patents
Companies that have patents are usually very successful. They can use their patents to block out competitors and sue them for using similar products, making it easy to earn back the money they invested in R&D of those products.
In the 20th century, Henry Ford was able to create mass production and the assembly line because of patents.
Apple’s most notable patents include some of their features that made the iPod and iPhone popular, such as “slide to unlock” which uses a virtual keypad.
When Google launched in the late 1990’s, its algorithm for indexing content and displaying it to searchers was the most advanced. PageRank, the process by which websites could gain prominence on Google, was described in a registered patent. PageRank is a core component of the search engine and has been for a long time.
Ways to get started with the process of applying for a patent
There are two ways to obtain a patent. One is a provisional patent application, which allows you to establish an early filing date with the USPTO. You can start marketing your invention as Patent Pending, though the patent has not officially been registered — and when it is registered, it is released to the public.
The second type of patent application is a “non-provisional” one, which can be filed after the public disclosure or sale to another entity.The applicant has 12 months from that time to file their non-provisional application. It can ultimately lead to a full patent registration.
Things to consider before filing an application for a patent
If you are in a place where you can reveal the invention or idea, you should file a patent application.
If you’re worried about patenting an invention that someone else is already protecting for themselves, you need to do a patent search with a lawyer: -.
