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8 Secrets to Patenting Your Invention
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Article 3: When To Get A Patent
The best answer to “When should I get a patent?” is, “Before a competitor does.” The first one to patent the idea owns it, and its profits.
You can’t prevent people from coming up with the same idea you have. And you can’t prevent them from seeking patent protection for ideas you may have had first. But you can act before they do. It’s an often-heard complaint that someone came up with a marketable idea, but pursued it too late or not at all. The bottom line is, you cannot protect your ownership rights if you don’t patent your invention.
But begin with a reality check. Not every bright idea warrants patent protection.
Before launching your effort, explore the market for similar products to learn whether your idea is in demand. Check retail outlets for similar products, and check specifications and prices. For industrial products, search the Thomas Register for the same kind of information.
Also be sure you are on to something that works. Document calculations, make sketches, think through the practical application. Compare your idea with what is already on the market.
Is your idea novel, useful and productive by comparison? Can you make an appeal for buyers as effective as existing products already do? How must yours be priced to compete? How costly will it be to manufacture? Talk to potential users to understand what they need and want. Don’t stubbornly insist on shoving your pet project onto unwilling buyers.
These unknowns can’t be known precisely at this early stage, and often not entirely even later. But if you fail to consider them up front, you may rush right past a big red flag that could have saved you a lot of time, money and grief.
If your invention passes these early tests, proceed. If not, it is better to know early on.
Advice: Don’t be discouraged. Once you begin, the patent process is long and arduous, averaging more than two years from application to final OK.
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