Business

Why Most Inventions Must Have Patent Protection Prior to Licensing a Product or Going to Market

In today’s competitive environment, it is almost impossible to license or go to the marketplace without patent protection on your product. Once you have filed your patent application you can then expose your idea, seek a licensing partner and start the product development process.

In most cases, a manufacturer or investor is reluctant to invest in your product idea until they know that you have filed for a patent and they have protection. Most will not invest in any invention until the patent has been issued; the risk is too high. Yes, some will invest a small amount in a provisional patent, which is good for one year, just to see if your idea has legs.

Even after your product is issued a patent, there is always a chance that someone can design around your patent claims and produce a similar product. This does happen often. It is called the free enterprise system. It is the best system on the planet, so go for it!

Inventors do make money without patent protection. They tool up the product and flood the market with internet and television, such as QVC. This is a very high risk, but works for some inventors. Learn more about the process from this article http://baltimorepostexaminer.com/inventhelp-can-help-make-young-inventors-dreams-into-reality/2018/07/20.

WHAT COMES FIRST? EVALUATION, PATENT SEARCH OR PATENT APPLICATION?

All invention ideas should be evaluated by at least two evaluation companies prior to spending money on a professional patent search and patent application.

Why? A professional evaluation firm will advise you on your product idea and will guide you to the next steps in the invention process. It is our experience that many patent search lawyers and patent search agents will tell you that the patent on this type of product has been issued, or may have been issued. However, you may “have a chance”. The inventor then will spend thousands of dollars to file a patent application in order to see if the patent gets issued. We believe it is much wiser to invest a few hundred dollars in professional evaluations to see what the marketing experts advise. If positive, you can make your decision to move on to the patent search. And you can find more information from this article –¬†http://www.capecodtoday.com/article/2018/07/20/241040-Have-You-Had-Eureka-Moment-If-So-InventHelp-Could-Help.

AN INVENTOR NEEDS MORE THAN A GREAT IDEA TO BECOME A SUCCESSFUL INVENTOR.

All good marketable inventions start with a solution to a problem for millions of people around the world. You’ve got an invention, and your patent is pending, or has at the very least been issued, or you just want to run with it. Along with the patent protection, you must have the following skill sets or hire professionals in order to take your product to the market:

  • Marketing
  • Financial
  • Manufacturing
  • Packaging
  • Distribution
  • Internet skills

Good luck with your new invention!

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