Deciding Whether to Patent Your Invention
Deciding Whether to Patent your Invention
Ask yourself the following questions:
1. What problem does this invention solve?
If it doesn’t solve a problem it must be protected in a different way—
see inventor’s dictionary
2. Is this solution one that may meet the three tests of patentability?
(New, Useful, Not obvious)
Selling ideas is like selling wild birds—if you can’t cage them, it is difficult
to sell them
3. Can I find any similar solution in searches through the publicly accessible patent office databases?
These databases can be accessed through:
* Canadian website
* United States website or alternatively Google Patents
(better look before you leap)
4. Are there competing technologies that would be equally effective solutions?
Some of my clients discovered too late that they were competing with an alternative technology that was less costly and more effective—if your search reveals a number of patents in the same area none of which appear to be making money—your odds at making money don’t appear to be very good.
5. Do the potential financial benefits to be gained warrant the effort, expense and risk associated with patenting?
A Canadian patent may cost you $4,000.00-$6,000.00 and a United States patent may cost you $7,000.00-$9,000.00—you don’t want or need another expensive hobby.
6. Can I do this myself or do I have to “hope” that I can sell or license my invention to a large or medium sized corporation?
There are risks both ways—but trying to get the interest of a large corporation is difficult.