Top 5 Patent Myths

by Patrick Dawson Journalist and Professor

For businesses or would-be inventors, introducing a product that is substantially disruptive can be exciting and terrifying at the same time.  While most ideas aren’t 100% original, if you believe that your is substantially different enough from any similar ideas, have done the requisite market and patent research, and are confident that you can demonstrate your invention is sufficiently original to merit the investment in patenting it, you might want to thoroughly educate yourself on the myths that go along with that.  While there are many more than we can cover in this article, we hope these top myths will help save you time, money and exasperation, on your patent journey.

Myth 1: The Narrowing Of Equivalents

The common perception is that this will make it more difficult to secure investors.  What matters more is the strength of your business plan and how well-researched your patent-pending idea is.  If you make the effort upfront to show that your idea/invention has a reasonable shot at being profitable, you’re much more likely to be taken seriously by potential backers.   According to Jack Lander, president of the United Inventors Association, vice president of the Yankee Invention Exposition and founder of the Inventor's Bookstore, “I believe investors or lenders are very impressed by patent protection. Seldom will an angel invest in a project that does not offer patent protection.”

Myth 2: If I Advertise My Invention Upfront, I Increase the Risk of an Infringement Lawsuit

There is always the chance of this, if your patent infringes upon a preexisting claim. Due diligence is your best defense; the claims section of the patent is consequently extremely important.  Working with a patent professional can help you with the wording of this section, which is crucial to solidifying the protective reach of your patent, thereby fending off infringement bounty hunters.

Myth 3: If There’s No Competition Out There, I Don’t Need To Patent My Invention

It’s virtually impossible to come up with an idea for an invention that has no competition whatsoever.  What is more likely is that the technology is different, but there may be many inventions on the market or in the patenting process that perform the same function.  It’s the way your idea works or functions that you are actually protecting, so if it’s worth it to you to own the rights to it – patent it.

Myth 4:  I Have an Invention, but It’s "Obvious to one skilled in the art," So The Patent Won't Be Valid

Once you begin your patent search, you’ll quickly discover that there are several similar inventions already patented or that the concept has already been circulated in the sphere.  The strategy for surmounting this obstacle is to work with a professional who can sufficiently word your application as to distinguish it from similar inventions or ideas common (or “obvious”) to those in your particular field.

One example of a highly “common” or obvious technology application that was approved is U.S. Patent 5,771,778.  A coffee shop owner filed a patent application for "a device within a device, one part of which contains a sensor designed to emit an aroma when it senses a person's presence."   This is a prime example of how proper wording can overcome the barrier of common knowledge in an application.

Myth 5:  It Takes a Long Time to License a Patent

If you’re looking to launch an invention within a year, it is not impossible.  In an effort to make the process more efficient, the USPTO is eliminating paperwork wherever they can.  You can apply, conduct your art searches, and check on the status of your patent application online, all of which greatly expedites the process.   Other actions you can take while your patent is pending include exercising your "inchoate rights” (also known as bragging rights), e.g., publishing press releases promoting your expertise, your leadership in the sphere, and/or what differentiates you from your competitors.

Source: http://www.entrepreneur.com/article/48746#ixzz2jEUWwUqH

Patrick Dawson has been a part-time journalist and product and development manager for a number of years. He helps client develop and design their invention idea and highly recommends Innovate Product Design invention process. For more information visit this website, http://how-to-patent-an-idea.net.

Sponsor Ads

• Ad Space Available - Rent it Now!

Created on Dec 31st 1969 18:00. Viewed 0 times.

Comments