How To Patent Your Business Idea
Patenting your business idea is the first crucial step in your business endeavors. A patent will protect your idea from being copied by competing companies. It will also deter others from stealing your potential profits or generating negative feedback for your product by creating cheap knock-offs. However, your idea must be original and serve a real useful purpose. You will not be given a patent for a product that hurts people. Prior to beginning the patent process, consult an attorney and prepare well. The process is extremely complicated and may take several years.
Other People Are Reading
Instructions
-
-
1
Create an original business idea. Your idea must be original and serve a definite, useful purpose. Use the United States Patent and Trademark Office (USPTO) patent database to make sure your idea has not already been patented. You do not have to invent a completely new invention. Rather, it is completely acceptable to patent a substantial improvement on an already existing idea.
-
2
Hire a patent or intellectual property attorney. The process for obtaining a patent is very long and complex. It is essential that your application is thorough and detailed the first time you apply. The USPTO is reluctant to allow needless patents. Thus, it abides by very specific guidelines and requirements to prevent issuing patents based on poor motives. Some people or corporations seek patents for the sole purpose of later suing for copyright infringement. If your application is not organized properly, it is very likely your idea will never be granted a patent.
-
-
3
Gather the necessary funds. The fees for a patent application can total several thousand dollars. Combined with attorney fees, the patent process can be very expensive. Gather the necessary funds to cover all of these expenses. If you do not have the money, you can consider acquiring the funds from an investor or company. In such an instance, you have to develop a professional and thorough business plan to sell your idea.
-
4
FIle a provisional application. You can file this application electronically through the USPTO website. This application will give your idea a "patent-pending" label for a period of 12 months. During that time, you must file a standard patent application for your business idea. In addition, the provisional patent prohibits anyone else from patenting your idea during that one-year provisional period. Make your provisional application as vague as possible. You may face difficulties later on if the idea you outline in the standard application is substantially different than the one outlined in your provisional patent application.
-
5
File the standard patent application. You need the application to outline your business idea as well as possible. Include an abstract, a complete specification, and drawings. The entire patent process may take up to several years. The USPTO may request additional information and several clarifications. It is vital to address concerns immediately and completely.
-
1
Tips & Warnings
If you are describing your idea to someone prior to obtaining a patent, have them sign a non-disclosure form to ensure they will not steal your idea.
You may also file a petty patent. It is cheaper and easier to acquire, but is it will limit your idea more than a standard patent. It will also be active for a shorter period of time.
References
Resources
- Photo Credit business image by peter Hires Images from Fotolia.com
