In
class we discussed how filing a patent costs a lot of money and can be a quite
lengthy process. More specifically, filing a complete utility patent
application can take over a year and it can cost thousands of dollars.
Regardless, many engineers will go ahead and file it to protect the idea or
invention from becoming publicly shared as this could cause the engineer to
lose international patent rights. However, it does not really make any sense to
spend that kind of time and money if they the engineer has not done sufficient
market research to decide whether or not it is financially worth it to file for
a utility patent. And in order to even go about conducting such research the engineer
risks exposing the idea and loosing the rights over it. Luckily, there is a
more cost and time effective way to protect an idea or invention.
Apparently
an engineer can file a provisional patent application. Although it is not a
patent, it gives the engineer the legal “patent pending” right on the original
design for one year. During that year the engineer can conduct market research,
share the idea, and decide whether or not it is a good idea to go ahead and
file for an actual patent. Overall, it is much cheaper and still protects the
idea. What do you guys think? Could this method be useful or do you think it would
be a waste of time?
This
article also discusses a similar idea for trademarks. Here is the link if you
would like to read more http://www.entrepreneur.com/article/204918.
Great point! I spoke with many technology entrepreneurs, and they all express the cost of patent is too much for a small startup. Just like the dog doesn't eat the new dog food that you made. It's pointless to file a patent on the recipe.
ReplyDeleteHmm...I did not know of this. usually when i saw products with Patent Pending i assumed they already filed the patent and just waiting for it to be approved. But this is a better method. saves cost on engineers and by putting patent pending it can possibly be like a trial and error run. Its good they have something so other people just can't steal the idea.
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