You may have an idea that could help you start a business, perhaps make you a little money, or change the world. Every day, people just like you have managed to take their invention ideas and make them into products that have earned them a considerable amount of money, addressed a need, and even changed the way that people live.
For those who have ideas that offer potential, the first step that is suggested is that you file for a patent after you have developed out the concept. Unfortunately, many people overlook this step of protecting their invention ideas with patents until it is too late. In so many cases, those who had ideas with real market potential failed to patent them properly which resulted in losing a potential gold mine of profits.
Why is patenting your idea so important? Why should you move quickly to protect your idea in the early stages even before you fully understand it’s potential? There are good answers to these questions and more when you understand why patent protection is so important.
First and foremost, your idea or invention needs to be protected so that it is not stolen or copied by someone else who managed to file for a patent first. There have been an untold number of cases in which individuals came up with a great idea or invention, only to not file for patent protection and see others take advantage of their creation.
A proper patent is government recognition that your idea or invention has been created by you and that those who seek to develop and market your idea must come to you and get permission. Otherwise, they are free to copy your idea and use it for themselves. There have been numerous court cases where ideas have been lifted from the inventors and used by unscrupulous businesses that make millions of dollars which were found to be legal all because the inventor never patented their idea or invention.
This is the most important reason why you need to patent your idea as soon as it qualifies so that you can enjoy the protection it provides.
While there are people who will take what you have created and make it their own if you do not file for a patent, there are others in the world of marketing that will not touch your idea unless you get a patent first. There are good reasons why those who have the moral decency to not steal what you have created, but instead stay far away so they do not get involved in any legal troubles.
A patent is the appropriate starting point for companies to then launch into negotiations with you over marketing your creation. A patent means that your idea has overcome the hurdles of the process and perhaps more importantly, that no similar idea has already been patented. This means that they can proceed with confidence in working with you over making the most out of your invention or idea.
In the end, this means that not protecting your idea or invention with a patent results in either people taking advantage of what you have created or simply wanting nothing to do with it. Now that you understand the importance of a patent, what is the next step?
When to Patent an Idea?Your idea can be patented once it meets certain criteria that allows it to qualify for a patent. Keep in mind that if your idea does not turn out to be profitable, you are out very little even if the idea does not qualify or has already been issued to someone else.
- Create a Record of Creating your Idea or Invention
- Understand the Qualifications for Obtaining a Patent
- Do Basic Research in Assessing Its Commercial Potential
- See If the Idea has already been Patented