Considerations to Get a Patent
People are not allowed to copy, manufacture, selling, or important your own creations without your permission if you have patent protection. As inventor or creator you receive the fullest benefits of your invention, and you are protected from the costs that you have invested, both financial, and time that you have invested to develop it. And, you are given a pre-determined period to establish your trade and keep others from entering the same pursuit though they are financially capable.
It might be very useful to patent your creations yet it is not the main thing that will make you successful. So before you invest thousands of dollars in securing a patent, there are steps you should take to ensure that it is a smart business move. For after all, rarely do patent products ever make it to market.
So before you decide to move forward in patenting your invention, it is crucial to first evaluate your idea if your 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. This has to come 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. Government records can be searched in order to find out if there is a patent for a similar product. When you search these government records make sure you check the keywords for every possible concept of the invention. After doing the pry-at search you then proceed to the freedom to operate search which gives information on the protection period of the patient. This step will help ensure that your idea has not already been patented.
You can also hire an expert to help you in this task.
You need to also determine your product’s functionality by developing a basic prototype or model. Here your invention is tested and reworked so that an acceptable model will come out from it.
If you now have a perfect model, you can start to define you market and determine how much large the market is. If it is too small, your product may not be commercially viable.
Next comes determining the cost of manufacturing the product. Determine whether the production cost is less than the price the market is willing to pay for it.
Once all these are determined, there are no roadblocks to commercial success, then it is time to consider whether or not you need a patent for it or not.