Money is tight everywhere, or so the media would have us believe, but that's a different blog topic. Not protecting your invention can, if your invention really has some market potential, cost you a lot of money. The conundrum is that you have to find out how to determine what your invention's market value really is.
One thing that we can assure you. The real market value is rarely what your spouse, parent or friends will tell you it is. You have to find out what the value of your invention really is from disinterested third parties. That requires a formal or informal market study or survey. It can be conducted by you or someone whom you hire. You can do it with or without using your invention concept. The data that you gather will help you determine true valuation.
If you perform the study with the invention than make sure that you have your intellectual property protected. The best way to do that at this early stage is with a provisional patent. It is a low cost one year protection mechanism that allows you to test the market without the risk of losing your intellectual property rights and future earnings.
The provisional patent, which costs about $100, establishes a filing date and allows you to use the term - "Patent Pending". It lasts one year and it cannot be extended. You must file a regular patent, called a non-provisional patent, within that one year or you lose your rights.
The provisional patent is a quick, easy way to protect your invention on the cheap, while determining its true market value.
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Posted by: dissertation help | March 25, 2009 at 11:19 PM