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FAQ's About Inventing
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Why are there so many misconceptions about inventing?
Most Innovators would like to see their idea commercialized. Most, though, have little business experience. So it's not surprising that there are a few myths about the business of inventing that we think new innovators should be aware of. Why can't I sell my idea to someone? Companies don't buy ideas. They license patent rights. By "patent rights" we mean the legal rights offered by pending or issued patents. If an idea is not patentable, it is fair game for all who know about it. If I tell my idea to someone can they steal it? There are two ways to lose the value in your ideas. Commercial benefits can be lost when others copy your idea and place it into the commercial marketplace before you do or in competition to you. Under international law, legal rights can be lost by merely disclosing your ideas to others without first fling for patent protection. Prior to disclosing your idea to others, file a patent application. This can be done inexpensively using the new Provisional Patent Application. Do I have to get a patent on my invention? Patent protection most often makes sense, but it shouldn't be thought of as an automatic first step. Many products for sale do not have patent protection. Prior to filing for patent protection, you should try to find out if your product idea has market potential and if it is patentable. We suggest you approach experts in the field and disclose using Confidentiality Agreements. If I haven't seen anything like my idea anywhere doesn't this mean its most likely patentable? Not so! Do a professional patent search to be sure the rights to your idea are available to you and, importantly, that your product will not be infringing someone else's patent rights. I have a really good idea. What should I do next? Four important steps should be taken: (1) Look at the market for similar items as well as for different items that fill the same need in an alternative way. (2) Check to see if your product actually works the way you think it can. (3) Evaluate if your idea can be put into the marketplace at a price that will sell. Building a prototype will help you determine cost. (4) See if you can obtain patent protection. These steps may be accomplished in any order. Are patents worthless to small entities because they don't have resources to sue businesses? This is true, however, if you license your patent rights to an equally large competitor of the infringer, that competitor may be most eager to assert your patent rights so that it can chase competition out of its marketplace. Aren't patents much too expensive for the independent inventor? The relatively new Provisional Patent Application can be prepared by the inventor without professional help, and filed with the US Patent Office for US $80.00 Although it preserves patent pending privileges for only one year, it is possible to license patent rights prior to filing a non-provisional patent application. If I file with the PTO Document Disclosure Program am I not safe for two years like they say? First of all they don't say that. Secondly, if others file a patent before you, after you have disclosed your idea to them, the legal burden of proof is on you to show that you did not delay in filing your own patent application after you completed your invention. This is generally hard to do. |
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