One Simple Idea: Turn Your Dreams into a Licensing Goldmine While Letting Others Do the Work by Key Stephen

Author:Key, Stephen [Key, Stephen]
Language: eng
Format: azw3
Publisher: McGraw-Hill Education
Published: 2011-03-15T04:00:00+00:00

How to Get a Patent

For some product categories and industries, you may not ever need to file a regular nonprovisional patent application. In the toy, novelty and gift, and fashion industries, for example, product life cycles are so short that most companies don’t require a patent in order to license your idea.

For big ideas, it is best to have some type of intellectual property protection filed. For really big ideas, you will need to file multiple patents, to build a “wall of protection,” as my attorney, John Ferrell, always told me. This “wall of protection” sends up red flags to potential intruders that you will protect your intellectual property rights. After all, patents are perceived ownership, and anything can be argued in a court of law. Building a wall of protection around your intellectual property helps keep you out of court by discouraging people from being dishonest.

When it is prudent for you to file a nonprovisional patent application, you can sometimes negotiate with your licensee to pay all or part of the costs associated with filing the patent(s). If you negotiate for the company to pay patent fees on an idea they have licensed from you, you (with your attorneys) still control all filing and office actions.

Whether an idea is big or small, filing and defending a patent takes a lot of time, money, and expertise. I would not even consider filing a nonprovisional patent application myself, and I strongly advise you to retain the services of a patent attorney if and when you need to file a patent for your idea.

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