Considerations to Get a Patent
With patent protection, you have the right to prevent others from copying, manufacturing, selling or importing you original creation without your permission. With this you are also protected from the financial cost and the cost of time that you have invested and developed it, and it allows you to reap the fullest benefits of what you have invented or innovated. It also allows you time to establish you trade and bars others from entering that same pursuit eve if they are financially capable.
The simple fact is, a patent is a very valuable tool – but it is hardly your number one docket to success. So, before pouring out your money in securing a patent, you need to take some steps to make sure that this business move is a smart one. For after all, rarely do patent products ever make it to market.
So before decide to have you invention patented, make sure to evaluate your idea first and see if this invention has a viable commercial value. What you need to do is to understand you product, your target market, and similar products in the market. Somehow the information you get here goes far beyond your gut feeling and the encouraging words given by your family and friends. You have to gain this understanding from a solid market research and a substantial attention to product development.
You have to make sure that your idea does not infringe on someone else’s patent. What you can do is conduct a preliminary patent search on government records. The primary goal of the search starts with a pry-at search also known as keyword search where you pry on every possible pivotal concepts of the invention. The other search after the pry-at or keywords search is the freedom to operate search where in look at the protection period of the patent. This step will help ensure that your idea has not already been patented.
Hiring an expert to help you in the task is much better than doing it all by yourself.
Then you need to create a basic prototype or model to determine the functionality of your product. Here your invention is tested and reworked so that an acceptable model will come out from it.
Once you have the perfect dummy, you can now start to define your market and determine how large that market is. A very small product might not be viable commercially.
Next comes determining the cost of manufacturing the product. Determine whether the production cost is less than the price the market is willing to pay for it.
So when everything is considered there are no more roadblocks to commercial success, now it is time to consider if you need a patent for it or not.
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