When and How to Patent a Product Idea

Many would-be inventors and product designers find it difficult to determine when it’s time to move their product or invention idea forward and whether or not they require the protections of a patent. Many products do require a patent in order to be viable in a commercial sense. In a recent article in Entrepreneur, an intellectual property attorney commented on the importance of seeking patent protections.
Why Do You Need a Patent?
According to intellectual property attorneys, patents protect inventors and new product designers so that someone else can’t come along and take your idea and make money on it. While it may not always be easy to obtain broad, sweeping patents such as some entirely novel inventions merit, your idea may still qualify for patent protections. Having a patent means you can control your product in the U.S. market. Moreover, you have the legal authority to tell others–even importers–to refrain from infringing on your product and its protected ideas. When you are ready to move your product from concept to reality, it’s a good idea to begin the patent process.
Obtaining a Patent
While some product designers may find the patent process intimidating, it can help to know that there are third party companies that specialize in this area. Such companies work with new product designers and inventors to negotiate the patent process and even generate a prototype of the product. Having a protected prototype is immensely helpful for pitching to manufacturers who may be willing to go into business with you to bring your product to market.
The Patent Application
There are various types of protections for new product designers. When you apply for a patent, you’ll be required to list the type of patent you wish to secure. Your third party company can assist you by helping you decide whether to fill out a non-provisional application or a provisional application. Because this company advises clients about the ins and outs of patents all the time, they’ve developed the expertise you can depend on for navigating the patent process.
Your patent application will typically include an abstract, drawings, and in-depth descriptions of your idea. The more detailed you can be the better chance you’ll have for securing your patent protections quickly.
Taking Your Product to Market
In order to attract the necessary investors, licensees, and/or manufacturers to really get your product out into the marketplace, it is highly advisable to create a working prototype to showcase to interested parties. There are third party firms that specialize in prototype development, with the engineers and machinery necessary to create a working prototype. Studies have shown that having a working prototype can help an inventor negotiate a much higher percentage of royalties when actually getting their product to market (Source: http://www.examiner.com/article/i-have-an-idea-for-an-invention-now-what).
In summary, if you have a great idea, it is highly advisable to do the homework related to getting a trademark or patent, and to develop a working prototype prior to pushing your product out to the open market. History is filled with stories of great innovators who never profited from their ideas as competitors with more resources and deeper pockets simply took their unprotected ideas and made a better (or at least better marketed) version of it. Don’t be a victim!