Patents

Patenting a product or process

Patent

If you have spent hours and hours developing a new invention, wouldn't it be a shame if someone else profited from that new product before—or worse, instead of—you? The best way to protect your idea is to have it patented by a patent attorney as soon as possible.

An invention patent protects your ability to profit from your original idea and subsequent invention. When an individual or company applies for and is granted a patent by the government, it means that they have exclusive rights to sell and distribute the patented product. If you are applying for a patent, though, it's important to know that the process and the rights granted vary from country to country and from government to government.

Know More about Invention Patents

Patents were first introduced centuries ago as an incentive for progress. Much like today, patents encouraged the development of new technologies because they ensured that inventors would be rewarded for their hard work. Today, there are actually several different types of patents in the United States. Patents and trademarks are not the same thing, but the principle behind them, of protecting exclusive rights to own and sell original creations, is the same.

The Process of Protecting Your Idea

If you invent something that will have a long-term impact on society, you will want to protect your rights to its profits as a marketed product by applying for a patent. You should know, though, that selling a product before filing for a patent could mean that it's too late to make an application. At the same time, patents should not be applied for more than 18 months before a product is ready to enter the marketplace.

The first steps are to contact a patent office and a patent attorney. A patent attorney or patent agent may charge between $5,000 and $10,000 to help with a filing. Patent lawyers will also help with a patent search to determine if an existing patent could lead to legal issues with the new invention and may recommend terminating the application if this is the case.

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