Patent
Attorneys
A patent attorney
is an attorney who has the special qualifications
necessary for representing clients in obtaining and
acting in all matters and procedures relating to patent
law and practice. The term is used differently in other
countries, and may or may not require the same legal
qualifications as a general legal practitioner. The term
patent agent and patent lawyer are also used
in some localities. In some localities the terms are
interchangeable, in others the latter is generally used
only if the person qualified as a
lawyer.
About:
Patents
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
the activity involved in
selling
products or services in return for money or other
compensation. It is an act of completion of a commercial
activity.
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
patent, 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
process. 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
patent.
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!
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
About: Assistance
for Your Invention
Protomine has created a platform
designed to give
inventors assistance in the
development
process. With our 3 step process new
idea
inventors can easily bring their concepts to life
without braking the bank. We know what it is like to be
offered assistance by large corporations only to be left
unsatisfied with the results. At Protomine you guide the
process so you get a product
you're happy with.
Interest in obtaining licensing for your Invention?
The purpose of
licensing
is to grant another individual,
company or corporation the right to use your
intellectual property for a specific amount of time and for a specific purpose. The specifics are outlined in the terms of the agreement.
A licensor may grant licensing under "intellectual property" to do something (such as copy software or use a patented invention) without fear of a claim of
intellectual property
infringement brought by the
licensor.
A license under
intellectual property
usually has several parts including a term, territory, renewal, as well as other limitations deemed vital to the
licensor and
licensee.
Many licenses are valid for a particular length of time protecting the licensor should the value of a
licensing agreement increase, or market conditions change.
About: Product
Royalties
Royalties are payments made by one party (the "licensee") to another (the "licensor") for ongoing usage of an asset, usually an
intellectual property
(IP) right. The royalty for a given case is determined by many factors including:
market drivers and demand structure, territorial of rights, exclusivity of rights, inherent risk, strategic need, fundability, deal structure, level of
innovation, stage of
development, sustainability of the
product, and availability of similar technologies.
Navigating through the royalty terms is important. You commonly have both an advance royalty, which is a flat fee paid upfront, and ongoing royalties, which are paid as a percentage of every sale you make. The advance
royalty is basically a
guarantee
that the
licensor will get some money even if your product does not sell. Then, if and when your
product
sells, the licensor will get a percentage of the
sale on average, about 5 percent of the wholesale price of each product sold.
The licensor usually decides what the royalties will be, and those rates are pretty firmly set. So make sure you understand what they are and that they are spelled out in your
licensing agreement to avoid any surprises later. In fact, that agreement is crucial in determining not only what the licensor receives, but also what rights you get.
So Easy Anyone Can Do It!
Questions?
Can't find the answers?
Don't worry about it.
Call us for help.
1(877)897-8804
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