Getting a patent for your invention is a complex process that requires careful planning and execution. To ensure that you don't waste time and money, it's important to understand the steps involved in the patent process. In this article, we'll discuss the eight steps in the patent process and how to streamline it for your invention. The first step is to get yourself a good patent lawyer.
A good patent lawyer can help you determine what type of patent will work best for your invention and if it is even patentable. It's important to be aware of the potential problems that can arise if you're not careful. The next step is to decide which type of intellectual property protection you need. Depending on your main strategy for monetizing your invention, you may want to opt for either a patent or a trademark.
If you plan to license your invention, then it's important to get a patent issued as soon as possible. On the other hand, if you plan to sell the product, then it may be smarter to minimize initial patent legal costs and delay most of the patent legal fees until sales increase. The third step is to streamline the patent process for your invention. This means that you will waive filing a provisional application and will move directly to filing a non-provisional application. You may also want to request an accelerated examination at a higher cost due to the long wait time for the patent office to review your patent application. The fourth step is to monetize your invention.
If you plan to license your invention, then prospective licensees are more willing to pay a royalty for a granted patent since they know the patent rights they are paying for. On the other hand, if you plan to sell the product, then it may be smarter to file a provisional application instead of a non-provisional application since it would delay its entry on the Patent Office examination list by up to one year. The fifth step is to prepare a business plan. This is an important part of the patent process since much of the decision-making process is based on the vision of the company that you are trying to create. The business plan should include information about how you will market, manufacture and sell the idea, or it can include a list of potential licensees to whom you want to present the idea. The sixth step is an optional one: searching for new features.
This is sometimes referred to as a patentability search or a patent search. It involves determining the novelty or uniqueness of the idea, not if it meets the requirements for patent protection. This step is optional and there is no need for a formal patent search as part of the patent process. The seventh step is when you have a patent application ready to file with the USPTO. This consists of government forms, a specification that teaches others how to manufacture and use their invention, and the government filing fee.
After obtaining patent pending status, you can now freely market and disclose your idea. The eighth and final step in the patent process is commercialization. This involves building and launching your own business in order to make money with an invention. If this doesn't work out, then all of your legal costs would be unrecoverable. Getting a patent for your invention can be an intimidating process but with proper planning and execution, it doesn't have to be.
By following these eight steps in the patent process, you can ensure that you don't waste time and money while protecting your invention from potential problems. With this comprehensive guide, you can streamline your patent process and monetize your invention with confidence.
