You might have an idea for a new product simmering in the back of your mind. You’ve done several Google searches, but haven’t found anything similar. This makes you confident that you have came across the NEXT BIG THING. Every day How To Pitch An Invention To A Company tell me they “haven’t found anything like it. And while that’s a good beginning, chances are that they haven’t been looking in the right places.
Before investing additional money and resources, it’s the right time to find out definitively if the invention is exclusive, determine if you have a market for it, and explore steps to make it better.
Inventors should do a search online having a goal of finding two or three competitive products. If they’re scared to perform the search, that’s a very important thing, because within my experience, it always means they’re on the right track.
And yes, the objective should be to find other products available in the market that are already attempting to solve exactly the same problem his or her invention. That demonstrates that a solution is actually needed. And when there is a requirement with a large enough group, they stand a much better probability of turning the invention into a profitable venture.
So inventors should visit a patent agent or patent attorney with examples of two or three other similar products, and after signing a retainer agreement (which establishes the agent/client relationship) the discussion turns to the details of the item including drawings, mockups, and/or prototypes. Anyone who would like to secure exclusive rights to sell, produce, and utilize an invention that he made for a specific number of years must first secure a patent. A patent is an extremely specific form of document which contains the entire information on the conditions and terms set through the government so that the inventor may take full possession from the invention. The items in the document offer the holder of the patent the authority to be compensated should other people or organizations infringe on the Inventhelp Product Development in any way. In this instance, the patent holder has the legal right to pursue legal action from the offender. The regards to possession will also be known collectively as the inventor’s “intellectual property rights.”
At this point, the agent or attorney will do a far more thorough search of the U.S. Patent Office as well as other applicable databases in the United States and internationally. These are determining if the invention is definitely unique, or if there are even more, similar patented products.
Some inventors consider doing the search in the Patent Office on their own, but there are many downsides to this course of action. Their emotional attachment to the invention will cloud their judgment, and they can steer away mnfldj finding other products which are similar. Although odds are they have already identified a few other competitors, searching the U.S. Patent Office is a more intense process. From my knowledge of clients that have done their own search, they have got ignored similar products that have been patented since they can’t face the truth that the idea isn’t as unique since they once think it is.
However, finding additional similar products does not always mean that most is lost. The strategy changes to comparing the proposed invention with all the patented one, and discussing methods to improve it and make it patentable. A Inventhelp Patent Referral Services can provide objective insight at this particular phase. The procedure is to accept invention, overlook the parts that happen to be included in another patent or patents, as well as the remainder is a patentable invention. I focus on working with inventors to submit patent applications for brand new products or technology (including software), innovations within the insurance industry, and business processes.