Considerations to Get a Patent
Patent protection gives you the right to stop others from copying, manufacturing, selling or importing a novelty without your permission. With this you are also protected from the financial cost and the cost of time that you have invested and developed it, and it allows you to reap the fullest benefits of what you have invented or innovated. You are then given a pre-determined period to allow you to have enough time to establish your trade and keep others who are financially capable from entering that pursuit.
It might be very useful to patent your creations yet it is not the main thing that will make you successful. So, before pouring out your money in securing a patent, you need to take some steps to make sure that this business move is a smart one. There have been a lot of products with patents which did not ever make it to market.
So before decide to have you invention patented, make sure to evaluate your idea first and see if this invention has a viable commercial value. To help you do that, you have to understand your product, your target market and what other products are available that is serving the same market. Somehow the information you get here goes far beyond your gut feeling and the encouraging words given by your family and friends. You have to gain this understanding from a solid market research and a substantial attention to product development.
You product has to be unique, something that is not anything similar to somebody else’s patent. To do that, you should conduct a “preliminary patent search” on government’s records. The primary goal of the search starts with a pry-at search also known as keyword search where you pry on every possible pivotal concepts of the invention. Then after the pry-at search, the freedoms to operate search which has something to do with the protection period of the patent. Here you can make sure that your idea is free and has not been patented by anyone.
Hiring an expert to help you in the task is much better than doing it all by yourself.
Then you need to create a basic prototype or model to determine the functionality of your product. Here your invention is tested and reworked so that an acceptable model will come out from it.
Now you can define your market and determine how large it is after making a perfect dummy. If it is too small, your product may not be commercially viable.
Next comes determining the cost of manufacturing the product. Whether the cost to make is less than the market is willing to pay for it.
If you have found yourself a commercially viable product, then next decide if you will get a patent for it or not.