You probably already know that patents can give you an edge over competitors by preventing others from exploiting your developments. But did you know that patents can also be used as a negotiating tool, as collateral for financing, as value-added when seeking support from investors, as a marketing tool, and much more?
Patent protection may be available for a new and useful process, machine, manufacture, or composition of matter, or any new and useful improvement. Patent protection is not available for abstract ideas, laws of nature (e.g., laws of gravity), and natural phenomena. Patent protection may be available for your business methods, software, and improvements to existing technologies.
Once a patent application is filed with the US Patent Office, you can mark your invention as “Patent Pending” or “Pat. Pend.” to discourage potential infringers.
Here are some common pitfalls to avoid . . .
- Failing to file a US patent application within one year of any public disclosure, public use, publication, sale or offer for sale of your invention.
- Failing to file a priority application for foreign filing prior to any public disclosure.
- Failing to adequately describe your invention.
- Failing to adequately claim your invention.
What should you do to protect your invention? First, talk to a patent attorney. A patent attorney can help you evaluate your invention and help you determine what type of protection might be available. For example, a patent attorney might order a prior art search to help you identify aspects of your invention that are truly unique in view of what has already been done (this is called the “prior art”).
If you believe your invention is sufficiently unique over the prior art, a patent attorney can also help you apply for a patent, including preparing and filing the patent application in the US Patent Office, responding to examiner rejections, and appealing the examiner’s decisions when necessary.
A patent attorney can also work with associates in foreign countries to help secure patent rights in other countries.
Once you’ve filed a patent application, a patent attorney can help you negotiate licenses and sales of your invention.
But don’t delay. There are certain events that trigger a loss of rights, called “bar dates”. If you are planning to, or have already publicly disclosed, publicly used, published, sold or offered for sale your invention, you must contact a patent attorney immediately in order to avoid losing important legal rights.
