So you’ve invented something! Good job! But now what?
Conventional wisdom would tell that getting a patent is critical and that you should you to rush straight to the USPTO and get your invention patented, but what good is a patent, really? After all, the patent puts your invention schematics in the public domain, plus it expires after around 20 years. Who would want everyone to make free copies of his or her invention, even if it is only after two decades?
No Prize For First Place
While it’s true that patents are intentionally designed to expire so that inventions can benefit the public good, they also grant their holders the ability to stop anyone else from producing their invention for as long as they’re active. What this means is that if anyone shamelessly copies your invention during the protected period, you have the right to tell them to cease and desist as you can learn from this article – how to patent an idea with InventHelp.
What may be the most important feature of the patent law, however, is that it doesn’t matter when a product was invented nor who was involved: all that matters is who manages to file the paperwork with the patent office first.
After all, if an inventor starts to make money off of an un-patented invention, all it would take is one assistant or employee to figure out the secret and reach the patent office. He or she could then demand just about anything in royalties since the company needs the patent to stay in business.
A patent gives the patent holder the exclusive right to produce the patented invention, but the holder doesn’t have to be the inventor or the filer. Patents can be bought, sold, and licensed out, including to large companies who may be better equipped than a small entrepreneur to make use of a new invention or idea. In other words, if you patent your million-dollar idea, you could potentially license it for a million dollars to a big corporation instead of putting your life’s savings at risk to try and start up a company to make a million dollars for yourself. With all this said, you are probably wondering can I hire someone to do it for me? Well this article – “Patent my invention through InventHelp” has all the answers.
The modern patent system has been in place for over 150 years, and part of the reason it’s stayed effective for so long is because of its mixed carrot-and-stick approach to motivating inventors. While you may hold an advantage over your competitors if you keep your invention absolutely secret, all it takes is one unscrupulous employee to bring your secrecy crashing down onto your head.