What do you think about legal documents you should apply for after you have invented an idea? The very first legal document that an inventor should apply for is a patent. Now the question is “Can you patent an idea?”
According to US law, Patent law provides the inventor with intellectual property rights. Once you have successfully received the patent right, it is valid for 20 years in the USA. Remember that patent and trademark are not the same documents. You will get plenty of articles online that talk about ‘how to file a patent’ on the internet easily. But if you have not filed for a patent previously, you must not know everything.
Here’s what you should know before filing your first patent application
Finding An Excellent Attorney With Great Subject Knowledge
It is the very first and crucial step while applying a patent for your idea. Though most entrepreneurs are aware of this step’s importance, only some can select the right attorney for filing their patent right.
While selecting an attorney, you should interview at least 5-6 lawyers and ask them to show proof of their knowledge. Only when you are satisfied by the number of proofs and experience an attorney has, make your decision. The right attorney will help you protect your idea and will be able to advise how you can sell your invention idea.
Not Everything Will Go According To Your Plan But Don’t Give Up
Even if you have the best attorney in the country, things can go against your will. The entire process can still be very frustrating and challenging. Most entrepreneurs fail to get the patent right the first time they apply. For your application to be approved, you should meet every parameter. Only an experienced lawyer will be able to help you get your patent right smoothly.
Know Why You Want A Right Patent
Like every other decision you take in your business when applying for a patent, you don’t go with the flow. As an entrepreneur, you should know why you want to get a patent right for your business. If your idea is original and you are not selling a patent, getting professional help is the right choice. To help you understand why you need a patent, we have listed few common reasons:
● Having a patent grants you an exclusive right to your idea, meaning you have the power to stop infringers.
● Having a patent or even a pending application works as a deterrent for your competitors.
● A patent is a valuable asset for your company.
● Having a patent increases negotiating power with shareholders and competitors.
● Filing a patent shows that you are serious about your business. It, in turn, boosts your investor’s trust.
● Filing a patent application is considered one of the most crucial steps that business owners need to perform for acquiring a company.
Using The Right Method to Apply
The type of patent you need for your business differs depending on the type of your business. The choice is often very straightforward. It would be best if you were sure about the decision you are making.
You should consider the below-mentioned points before making your final decision:
● A petition, if can be made based on your age and health conditions
● A provisional or non-provisional patent
● PCT application
● Foreign Patent application
Deciding The Approximate Budget For The Application
“You get what you pay for” this statement applies to a reasonable attorney as well. It is expected, but what most entrepreneurs don’t expect is the cost of this entire process. With every round of revision and appeal, the charge keeps increasing.
In the end, you end up paying triple the amount you expected to pay. So, if you plan to apply for a patent, you need to stay ready with at least twice the expected legal expense.
Be Prepared To Learn A Whole New Way Of Thinking
Throughout the entire process, you will learn new styles of thinking and writing. You will also have to review long documents throughout the process that is one of the most tiring tasks. The lawyer will make a rough draft document that you need to review and suggest changes depending on your need.
During the feedback process, you need to think differently. This step is extremely draining and difficult at the same time. The process becomes even more complicated, especially in technical products.
Knowing Your Deadlines And Timing
Your patent attorney is the best person to explain the timelines to you. Here are some meaningful discussions:
● You need to file a patent application within 12 months of publicly announcing the invention.
● It is always a good idea to file a patent for your idea/invention before discussing it with anyone else.
● If you want to prioritize your application, it must be done on the day you file your application.
● If you prioritize your application, USPTO will get back to you within 4 to 6 months. If not, you need to wait for at least 16 months.
● Foreign and PCT patent applicants need to file a patent within 12 months of their US patent application.
Filing a patent is an essential task for every business owner. However, the process is very tiring at the same time. When you know the process correctly, it becomes a bit easier for anyone to decide the step. At Patent Service USA, we help business owners get patent right for their original idea easily.