Invention Protection
Patents
An invention is created to serve a new purpose or to accomplish a new goal, one that either wasn't being achieved efficiently, or wasn't around at all. When a product is invented, a new market niche is formed, and new markets equal money. Where money is involved, there is a risk that someone would be happy to steal an idea and use it for themselves. It is imperative to keep new inventions a secret until steps have been taken to legally protect them from unwanted swindlers. Fortunately, the government provides a great defensive tactic for inventors - patents.
A patent provides protection for new products and adds value to ideas. The US Patent office describes a patent as: "the right to exclude others from making, using, offering for sale, or selling" the invention in the United States or "importing" the invention into the United States (USPTO). Getting a patent is essential to keeping an idea safe and profitable. Plus, an idea is likely to have more moneymaking potential and thus be more valuable to a prospective buyer or licensee if it is patented. Many companies won't even talk to an inventor about buying their idea unless they already have a patent, have filed for one, or can prove that one is attainable (Edmark). Most people know that a patent is important to protect a product, but they don't know how to go about it. A patent process can seem daunting, and knowing the basics can help ease the pain.
Paper outline
- Protecting inventions
- Manufacturing the product
- Getting resources and financing
- Testing the market
- Preparing products for market
- Closing thoughts
- Download the entire paper
Check out the Silent Timer Web site to see the product Erik took to market. Contact him with any questions.
