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The purpose of a patent is to provide protection for technological advances (inventions). It provides an award for the disclosure of the creation of something new as well as for the further development, or refinement, of existing technologies. The aim of a patent system is to encourage economic and technological development by rewarding intellectual creativity.
Costs
Costs for patents vary depending on the field of technology your design falls into and the complexity of the design. Average costs to file and obtain a patent start at around $10,000 and can rise dramatically in some cases.
Advantage
The advantage of obtaining a Patent is the protection it offers. For the period of the patent the patent holder can exclude others from producing, using, and selling the invention claimed in the patent.
How long is the term of a patent?
The term of a patent is typically 20 years from the date on which the application is filed. Although it is no necessarily the same for every country it is now provided by international treaty that the term of a patent has to be at least 20 years from the filing date.
Disadvantage of a patents
The obvious disadvantage of attempting to acquire a Patent is the cost. Starting at around $10,000, you are immediately at a financial disadvantage before you've spent any money on product development and marketing. Secondly, patent applications are quite often rejected and if not take a minimum of 2 years to be fully processed. In the meanwhile your patent attorney will most likely be incurring fees while your product concept sits on the sideline.
What is a Patentable Invention?
In general, to be patentable, an invention must fulfill three criteria: novelty, inventive step (or non-obviousness) and industrial applicability. This means that the invention must be new compared to the state of the art on the filing date of the application, that it should not be obvious to a person skilled in the art, in other words, it must represent a sufficient advance in relation to the sate of art, and that it should be applicable in the context of some commercial production. The question whether a particular invention is patentable or not is a matter of national law. Patents may only issue to man-made inventions. In most patent systems, the mere discovery of materials or substances already existing in nature is not considered to be an invention. A plant discovered existing in nature, for example, would not be regarded as an invention. Many patent systems also require that an invention have a technical nature, i.e. that it relates to the physical world. In this respect, pure mathematical or physical formula, or pure software algorithms would not be regarded as inventions.
Should you do your own invention marketing?
Many people ask themselves should I market or promote my invention myself or hire someone to do it for us? Either way, whomever promotes your design concept should understand the following: It is crucial to your product presentation that you provide a quality Marketing Invention Analysis of your design concept for maximum impact. Knowledge about your market demographic, market trends and other information can greatly increase the value of your presentation enabling you to maximize you potential for sales or licensing your product idea promoting.
Simply follow the step by step marketing guide to create your Marketing Invention Analysis directly from your dashboard. You will create a simple concise set of marketing details to show others that your design is exciting and has market potential. Lastly, if you have problems simply contact your project manager who can answer any questions you may have.
About: Selling a Product Idea
A sale is completed by the seller, the owner of the goods. It starts with consent (or agreement) to an acquisition or appropriation or request followed by the passing of intellectual property or ownership in the item and the application and due settlement of a fixed price, the obligation for which arises due to the seller required to pass ownership, being a price the seller is happy to part with ownership of or any claim to the item. The purchaser, though a party to the sale, does not execute the sale, only the seller does that. The sale completes prior to the payment and gives rise to the obligation of payment. If the seller completes the first two above stages (selling product) of the sale prior to settlement of the price the sale is still valid and gives rise to an obligation to pay.
About: Advertising Your Invention
Advertising is a type of communication that commonly attempts to persuade potential customers to purchase more of a particular brands product or service. Many advertisements are designed to generate increased consumption of those products and services by creating and reinforcing of brand image and brand loyalty. Advertising sometimes has a persuasive message combined with factual information. Major mediums used to deliver these messages include television, radio, cinema, magazines, newspapers, video games, the Internet and billboards. Advertising is often placed by advertising agencies on behalf of a companies or other organizations.
Advertising is seen on the seats of shopping carts, on the walls of an airport walkway, on the sides of buses, in telephone messages and in-store public address systems. Advertising is often placed where audiences can easily and frequently access visual, audio and printed information. Some organizations spend large sums of money on advertising that sells what is not, strictly speaking, a product or service include political parties, interest groups, religious organizations, and military recruiters. Non-profit organizations are not typical advertising clients, and may rely on free modes of persuasion, such as public service announcements.
So what should your very first action be:
-Getting a servicepatent, perhaps?
-Going on a fact-finding mission to manufacturers in China?
-Calling QVC?
While all these steps may be appropriate down the line, it's critically important that you first take action by shifting your thought serviceprocess. I know what you're thinking. Thinking doesn't seem very actionable, does it? Maybe not, but over the years, countless inventors make devastating mistakes based on false beliefs and inaccurate assumptions.
For this reason debunking some common myths associated with inventing is important. Myths and misperceptions can be debilitating to your progress and costly to your pocket book. Although it may not seem very "actionable," it's vital to begin the inventing process with a realistic understanding of some of the basics for bringing an idea to market.
The following are
among the most common myths:mong the most common myths:
Myth #1: The
first thing an
inventor
should do is get
a
servicepatent.
Truth: It's understandable why this is such a commonly held belief. The topic of getting a patent is so pervasive among the inventing literature, conferences, websites and tv commercials, it's no wonder that many people feel they can't move forward without getting a patent first. Many inventors spend 80 -100% of their initial effort and money on obtaining a patent because that is the myth that's been sold and supported by those who stand to profit from it. Certainly a patent can be a valuable tool later in the process, but you should first determine the viability of your invention as a business before moving forward. Remember that filing a patent has little impact on a successful product launch & cost $10,000 or more-so unless getting a patent for its own sake is your end goal, it doesn't usually make good business sense to apply for a patent first thing off the bat. Most importantly- if you file a patent first, then encounter overwhelming obstacles later on, you may have invested in a patent for nothing.
Myth #2: If I tell people my idea, they'll steal it.
Truth: The theft of a new invention idea is actually very rare. A lot of sweat equity goes into developing an invention and this is a big barrier to most potential "thieves." That doesn't mean ideas are never stolen. Keep in mind, copying and competition are facts in any business. However, once you have an understanding of how much work goes into taking an idea to market, you'll understand why most ideas are stolen only after a product's proven successful. It's like betting on a horse. You're more likely to win by betting on a horse with a winning record than you are by backing an unproven long shot. That being said, don't be careless.
Myth #3: My idea is worth a million dollars!
Truth:
Earning a million dollars with an
invention is less likely than making
slightly lesser amount depending on the
depth of your invention. Study the
process, set realistic expectations,
take action, work hard and you can find
success, especially if you have more
than one marketable idea.
Why use the
Protomine Process?
The Protomine process
was created to offer an alternative to expensive
invention submission companies that offer so much
and produce so little. Do the research and we know
you'll see the difference.
What
does it cost to develop a product?
Manufacturers follow a complicated and costly
product development process called
product lifecycle management (plm). This approach
encompasses the complete lifecycle from
concept
design through
manufacturing and
disposal
of a product. The typical cost for product
development starts at around $100,000 for simple
concepts and rises dramatically for more complicated
concepts.What
are they promising you?
Organizations such as invention
submission companies offer costly services promising
to develop your concept for $5-$20,000 (a fraction of
what it really costs) while delivering very little in
return and producing very
poor success rates.The
Reality
Paying high prices to
outside companies to "develop"
or "patent"
your product is often unnecessary if you just want to
license
your
concept. Ultimately the distributor incurs the real
costs of development and in return offers a
licensing
contract. Your job is to present an appealing product
presentation and deliver it to the right people! The
Solution - The
Protomine Process!
proprietary
process contains a complete checklist of items companies
want in order to make informed decisions on whether or
not to carry your product design. So forget about
expensive
invention submission companies and everyone else
trying to take your money and
do-it-yourself
In a nutshell, the Protomine
process
was created to help you create a presentation which
represents
and
markets
your design efficiently and effectively. Our
