Patenting advice - Think Ahead

Settlement - Patenting advice - Think Ahead

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Like having a baby, the patenting process starts with great difficulties and expenses, and like children, the difficulties and expenses of patents continue to grow over a long period of time.

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Settlement

Unlike children poorly planned patent applications are seldom worth the effort. To earn money from a patent you must know your resources and plan accordingly.

Know your field:

The vast majority of considerable patents come from experts in the field (experts include scientists, engineers, or experienced entrepreneurs). If you have a great idea in a field that you don't know, find a friend or partner with experience in the field and discuss the idea with him. Often an idea that seems great to the uninitiated already exists or is impractical for reasons that are not obvious.

Be practical:

Once you've found a good, novel and practical idea, know how you will make money from the idea. Developing and marketing a new stock defending your monopoly straight through patent litigation are highly high-priced and risky. If you are an independent originator or a small entrepreneur you should undoubtedly reconsider selling or licensing your invention.

While working for a large international law firm, I had a client who brought a patent briefcase (accepted patents in the Us, Epo, China and Japan) to a large car maker. Fast seeing over the details of the patent, the business representative told him, "This is exactly the technology we need. But we aren't going to pay you royalties. We have hundreds of top notch lawyers on staff and if you take us to court you'll go bankrupt long before you can win a settlement."

Of course, they're right. Nevertheless, we advised our client that bankrupting even a petite business straight through litigation can be very expensive. Furthermore, if the car maker wants exclusive possession to the technology, they need to make a deal with the patent holder, not break him. With this more realistic basis, they started negotiations.

Be prepared:

Many inventors spend a few thousand dollars and a lot of time filing a patent, but are unprepared for the cost of patent prosecution. One supervene of this mistake is losing your venture in the patent. Even worse this can lead to constantly losing possession to your invention because without prosecution the patent application will be published but not granted manufacture idea into communal domain. For more details on patent planning see my former blog "Patent Costs Timetable for the Independent originator - Be ready Before You Draft."

Know your limits:

If you are appropriate and organized you can probably write and file your own provisional application (although it is recommended that you show it to a patent agent/attorney to check if it is enabling). A non-provisional patent application should only be written by an experienced professional. Self written patents are often invalid and supervene in loss of money and may supervene in loss of control of the invention. Even if a self written patent is valid, a well written patent will save time in prosecution thereby salvage money in the long run.

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