Listen to the Business Innovators Radio Network interview to learn how to turn your invention into profits using the best patent filing strategy
There are several critical benefits to patenting an invention, which can include the following:
-Protecting an invention from being copied or reverse-engineered by others
-Giving the potential to license an invention to others for commercial gain
-Helping to attract investment or funding for an invention
-Allowing to prevent others from commercially exploiting an invention without the inventor’s permission
There are two main types of patents: provisional and non-provisional. Provisional patents are typically used as a placeholder for pending non-provisional patent applications. Non-provisional patents are the more “serious” type of patent and provide complete patent protection. So, what’s the difference between these two types of patents?
A provisional patent is a temporary type of patent filed with the USPTO. It establishes an early filing date but does not mature into an actual patent unless a non-provisional application is filed within one year. A provisional patent application must include a written description of the invention and any drawings or other illustrations necessary to understand the invention. The USPTO does not examine the written description and drawings, and therefore a provisional patent will never actually issue.
A non-provisional patent is the more “serious” type of patent application. The USPTO examines it for compliance with all patentability requirements, including novelty and non-obviousness. If the USPTO finds that the invention meets these requirements, a patent will be granted. A non-provisional patent provides full patent protection for the invention, whereas a provisional patent only provides limited protection.
So, which type of patent should someone file? If they’re not ready to file a non-provisional patent application, then a provisional patent may be a good option. It will give them a year to further develop their invention and assess whether it is commercially viable. Suppose they are ready to file a non-provisional patent application. In that case, that is the route they should take. Keep in mind that a non-provisional patent application must be filed within one year of the filing date of a provisional patent application, or else the provisional application will become void.
Overall, patenting an invention can provide significant advantages and help ensure that inventors reap the maximum benefits from their creativity and hard work.
When filing for a patent, there is no one-size-fits-all approach. The best strategy will vary depending on the invention, the market, the competition, and other factors.
That said, some general principles can help guide the decision-making process regarding the best patent filing strategy. Here are ten tips to keep in mind:
- Understand the scope of the invention.
- Identify the key features of the invention.
- Understand the market for the invention.
- Identify potential competitors.
- Consider the costs of filing and prosecuting a patent application.
- Decide whether to file a provisional or non-provisional patent application.
- Consider the benefits of filing a foreign patent application.
- Decide whether to publish the invention before filing a patent application.
- File the patent application as early as possible.
- Work with an experienced patent attorney or agent.
Karpinia commented, “Working with us, Sagacity Legal guides you through the process of protecting your business. In a supportive and collaborative manner, we provide you the peace of mind that your business can grow and succeed, free from the risk of unwanted legal attention. As a legal advisor and coach, I show my clients how to protect their business in a way that feels comfortable and understandable while providing practical advice and services. I help them create a legal framework that aligns with their business strategy and is adaptable to their future evolution.”
Video Link: https://www.youtube.com/embed/uVT6xynJf4I
About Randi Karpinia
Randi Karpinia, CEO of Sagacity Legal, transforms entrepreneurs’ ideas and inventions into intellectual property assets that can lead to huge profits. With over twenty years of legal experience, Ms. Karpinia is a recognized expert in all aspects of business legal operations, focusing on intellectual property rights and management. At Sagacity Legal, she guides her clients through the legal risks they’ll face now and in the future, so they can focus their time and efforts on the value, expertise, and experience they bring to their business.
Ms. Karpinia’s expertise is well recognized industry-wide, including recently being honored as a 2021 Small Business Person of the Year Finalist by the Chamber of Commerce of the Palm Beaches and included in the WIPF – 2021 Powerful Women in IP list.
Ms. Karpinia’s credentials include a B.E.E, with honors, from Georgia Institute of Technology; a M.E.E. from Florida Atlantic University; and a J.D. Magna Cum Laude from Nova Southeastern University. Ms. Karpinia is admitted to practice law in Florida and before the USPTO, and is a Florida Bar Board Certified Intellectual Property Lawyer.
Learn More: https://sagacitylegal.com/
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