There are many inventors out there that are coming up with new ideas all the time. Many of the things that we know and use today all started with an idea. In order to understand what patent figures, one needs to understand what it means to patent an idea. If you should have an idea to invent something that the world has never seen, whether it be a household item, a car design idea or even heavy machinery, one needs to make sure that your idea is patented, meaning that the idea becomes solely yours and nobody can use this idea.

There are different steps that need to be taken when you want to patent an idea and the first step is to draught or have a professional draught an illustration of your idea. This illustration is known as a patent figure. A patent figure is an extremely detailed drawing from all different angles that illustrates your design or idea. There are however strict rules attached to these drawings in order for them to qualify as a patent figure and for them to be excepted by a patent office.

Patent figures or drawings are not allowed to display any colour unless you specific figure or drawing absolutely needs colour. These patent figures or drawing are only allowed to be in black ink on white paper. Photographs are most definitely allowed to be used as illustrations. If a photograph is the only way that you patent idea can be put forward then you will be allowed to submit a photograph accompanied by a proper patent figure or drawing. Patent drawings or figures have to be clearly labelled according to the standards that have been set.

These patent figures need to display the uniqueness of your patent idea as well as the materials that you will use in your creation. The examiner has the final say whether he or she will grant you a patent idea. Patenting an idea is a long process and therefore copies are also made of these draughts ir patent figures. It is therefore pertinent that one makes sure that your patent figure is clear and readable as well be able to print or copy well.

The patent protection on an invention is obtained by preparing and filing an application with the Patent Office (PTO). Under the current law, a regular (non-provisional) or provisional application can be filed.

A regular application includes specification and claims. The specification comprises a detailed disclosure of the invention idea, including drawings illustrating the invention, a teaching of how to make and use the invention, and “best mode” for carrying out the invention. A regular application is examined by the U.S. Patent and Trademark Office for issuance of a patent.

A provisional application includes specification, is kept pending for only 1-year, and –

• must be converted to a regular application before the end of the 1-year period
• is not examined and does not result into a patent
• cannot be filed for design inventions
• but allows “Patent Pending” status, during its pendency

Once determined to be complete by the PTO, a regular patent application is assigned to an Examiner who reviews the application for compliance under the law. The Examiner conducts a search of prior art to determine whether or not a patent should be granted on one or more claims. The search locates already-issued U.S. or foreign patents, foreign patent publications, literature articles, scientific publications, statutory invention registrations, defensive publications, etc.

The Examiner reviews the uncovered prior art to determine the aspects of claimed invention already in public domain and determines patentability of the invention under the law as described in https://www.econotimes.com/How-You-Can-Benefit-from-Turning-to-the-InventHelp-Experts-1577312 article.

Gold IRA investing is one of the smartest choices you can make to protect your future and guarantee that your investments flourish into long term security for you and your family.

Especially in these recent years, precious metals are a great option for investing for a number of reasons.

If you want to grow your retirement fund, then adding gold to your IRA is not very difficult at all and also will help guarantee that you aren’t left in trouble when you want to retire and find that your other investments haven’t done well.

One reason that gold IRA investing is such a good decision is that your gold can never disappear.

With how tough times have been and how many people have been finding their investments disappearing into thin air, having a solid source of income when you get older is really important.

With gold, even if fiat money sees huge drops in value, you will still have a valuable resource.

Gold isn’t some intangible monetary unit that can just go away.

Another reason for choosing gold IRA investing is that it’s really easy to do.

A lot of people may hesitate because they don’t know how to turn their traditional or Roth IRA into an IRA that is backed by gold.

With a little help from an investment company, such as Regal Assets, and some looking into the terms and conditions of your current IRA, you can roll them over into a gold IRA and start enjoying real security.

The third compelling reason for you to go with gold IRA investing is that, as time goes on, more people are going to want to invest in it.

This is important because it increases demand which increases the value of your own investments.

That’s why getting in early is a good idea.

Trying to plan for your future can be difficult and intimidating.

If you aren’t sure what to do, going with gold IRA investing is fairly safe and can give you great returns and also provides the security that you want above all.

Many people are often confused with comparing two of the most commonly referred to types of intellectual property, patents and copyrights.

In dealing with the subject matter of both patents and copyrights, patents are defined as inventions involving any useful process including an abstract or non-mechanical process such as a computer software program. A copyrighted work refers to a written idea or work by an author. The written work can be a manuscript, instruction guide, sheet music, poetry, etc. that is in itself not a original concept.

A patent will not be issued if the invention idea or concept was “known to others” at least one year prior to the application date; or if it was previously “abandoned by the inventor”. A copyright on the other hand will be given only to an original work that was not copied from another source (i.e. plagiarism).

While it may take as long as 3 years for a patent to be granted, a copyright is almost instantaneous as long as a “tangible medium” is used to notify others of the author’s ownership. To be on the safe side, a written work can be registered through a governmental entity, although this registration is not required.

The length of protection of a patent and copyright is also much different. A patent is usually in force for a maximum period of 20 years, whereas a copyright can be in force for as long as 70 to 120 years after the author’s death.

Ownership rights for both patents and copyrights can be reassigned to others, such as employers (if the invention or written material was ordered by a person’s employer). In the case of a literary article or manuscript that was ordered written on a “work for hire” basis (by a “ghost writer”, etc.), the authorship will be assigned to the person or entity that ordered it to be completed. The same applies to buying and selling patents and copyrights as described on https://azbigmedia.com/business/why-new-inventors-turn-to-inventhelp-for-support/.

And while experimental used of a patented idea or concept is very limited; a copyrighted work can be reproduced or transferred to others, such a library or reference entity, if permission is granted by the author or his heirs.

If you want to protect your idea or product from intellectual property theft, you may also want to hire patent attorneys. Patenting an idea may require you to prepare necessary requirements as well as documentations that would significantly be bothersome for your business schedule.

Therefore, to save time and energy on preparing such business matters, it is more favorable to hire professionals that have experience in preparing paperwork related to patent law. Intellectual property lawyers in the US would gladly help you get the protection you need in no time.

When choosing reliable intellectual property lawyers in the US, the best way to select the best is to talk to them personally. You may want to arrange an appointment with these lawyers on your leisure time and ask them about your intellectual property concerns as explained in https://arizonawet.arizona.edu/users/key-steps-patent-idea-through-inventhelp post.

Most of these lawyers would present some cases that they have previously handled. Meeting them personally would allow you to distinguish which of them have the expertise to deal with your intellectual property needs.

Asking for references can help you have an idea of the reputation that the intellectual property lawyer has. Most of these references can help you gather opinions about the legal services that these attorneys may offer.

You may want to ask about the quality of service that the lawyers provide and the results of the legal procedures. There is no better way to determine the efficiency of a lawyer than asking those who have already availed their services.

When finding the best intellectual property lawyers, you should also remember that not all of them have the same skills and expertise in handling cases. Moreover, these lawyers also differ on the fees that they charge for their services.

In order for you to get the most out of the budget you allot for the legal protection of your products or ideas, it is better to get multiple quotes from different legal firms and also from professional patenting companies, such as InventHelp. Having a number of choices would help you get the services you need for the least possible cost.

Internet is the most widely used threshold to find information as well as to surf for your needed articles and ideas. But just as it is easy relayed it is also easy to access and copied Intellectual property from various set of companies.

Intellectual property rights are a collection of restricted rights from the creations of the mind along with its copyrighted intellectual products. It is covered by copyright laws, which protect the holder to have an exclusive right to control reproduction of such works for a certain phase of time.

The fast growing advancement of technology has put complexity on preserving traditional intellectual property possessed by publishers and holders of copyrighted products. Just like giving protections to their creative works. A wide variety of information can easily be copied when made accessible on the internet on a low cost or even on free access and you can learn how and where from https://www.hngn.com/articles/227862/20200113/what-can-the-experts-at-inventhelp-do-for-you.htm.

Due to this, the publishers wanted to take action on the enforcement of intellectual property rights. They are proposing that those who are in the right position must put additional content or make new media and new forms of access for them to at least preserve a well-funded release of their works.

During the present time an increasingly rise on the use of internet has been widely seen. The internet pages hosts may published works that are easily accessed. The easy access in return has caused the rise of copying materials, music media, videos so as images and texts which cause intellectual property disturbance to publishers, in response more protected online intellectual property law enforcement has been in continued progress.

The argument for tight intellectual property protection is that it must exist to preserve the mere incentive for authors and inventors created from their original works.

Many proposed plans are continuously stated in progress in controlling the body of internet intellectual property. Protection of copyright, patent, trademarks and other concerns are well acted upon by the said body with the use of laws implemented for the better outcome.

The Internet in particular is a highly interactive environment that could either be beneficial for the publishers/ inventors or spare their works as you can read from https://millennialmagazine.com/2020/01/13/dont-give-up-on-your-invention-idea-turn-to-inventhelp/. So as it is very important to preserve rights of concerned people on these occurring events.

A patent is classified as being biological in nature when it relates to a discovery in the field of biology. This can include anything from stem cell research to genetics and even the study of elements found in the plant or animal kingdoms.

There has been a lot of controversy about biological patents in regards to how much they can assist in helping those with certain diseases. If a medication could help those with Parkinson’s Disease for example, it should be patented, but should it be tested first? In some countries, such as America, a product can only be patented once it has met with the approval of the Federal Drug Administration as written in https://www.natureworldnews.com/articles/43137/20200108/why-inventhelp-is-a-great-resource-for-new-inventors.htm. In other countries, anyone can patent an idea for a drug, and then only submit it for testing.

It is these laws that protect those who are involved in biological research and those who will benefit from that research. Because of the amount of companies currently involved in genetics research and the universities with students involved in research, it is vital that this scientific community is protected from copyright theft. This is why so many of them see fit to apply for patents.

These patents protect them from having their years of research stolen, as well as those who are funding the research from having their money going to waste when the research does not yield fruitful results. It is vital for those in the scientific community to be protected by patent law as they are doing work that may be valuable to the health of humankind in the long term.

If others are trying to steal and emulate that work, they could potentially do a lot of damage. It may be frightening to imagine what could happen if a terrorist group for example, was sold biological warfare research that had been stolen. Patent laws play their part in preventing this from happening. Learn more from https://www.latinpost.com/articles/143207/20200108/why-new-inventors-need-assistance-from-inventhelp.htm.

In the business world, it often takes a lot of time and money to build up a brand name to where it is recognizable, as well as, profitable. The same holds true whether the name belongs to a company, product or type of service. When it comes to protecting unique product inventions and the names that are associated with them, the inventor must take steps to file for legal protection with the appropriate government agency.

Now, when it comes to securing a patent for a unique product invention, you need to understand that a patent can only be filed for the actual product. In other words, you need to know how to patent a product. Patents do not protect a specific name for the invention. You will need to file for a unique trademark to protect a brand name. If that’s all you are looking for then you really have no use for information on how to patent a name.

What you really need to know is how to copyright a name and how to trademark a name. Fortunately, both a patent and a trademark application can be handled by the same U.S. agency. The United States Patent and Trademark Office (USPTO) is where you would go to take care of both of these tasks.

How To Patent A Name – Protect Your Brand

Having a cool and unique name for your new product will go a long way in making it how to patent a name memorable to the buying public. It takes a lot of creativity to come up with a unique name and this is why you want to have it legally protected from other competitors as explained in https://inspirationfeed.com/how-inventhelp-can-help-you-protect-your-invention/ article.

When a brand name isn’t protected, other people can invent similar products and simply stick your name onto it and steal all of those sales that rightfully belong to you. To avoid this unpleasant scenario, you can go to the USPTO and file for official trademark status. It is as close as you will get if you are looking for how to patent a name.

Keep in mind that generic terms that are commonly used cannot be trademarked. For instance, the word tissues cannot be trademarked, but BRAND NAME tissues can be. Now, what if your idea is a cool invention like the Pet Rock?

Can a rock be patented? No, a plain ole rock cannot be patented because there are a gazillion of them in the world. Okay, then how about the idea of the pet rock? Well, an idea can’t be patented either. Then how was the inventor of the original pet rock, Gary Dahl, able to make a million dollars off of his silly idea?

He came up with a unique way to patent the packaging of his idea of the pet rock. While anyone can grab a rock, paint it and call it a pet rock. Mr. Dahl is the one who thought of packaging rocks inside of a cardboard box with vented holes for the pet to breathe.

There was also some straw inside for the rock to sit on and an instruction manual that told the owner how to take care of their stony pet. The packaging is what is protected by copyright and a patent, so anyone who desires to sell the original pet rock exactly like Mr. Dahl, must pay him a licensing fee. The words “pet rock” by themselves were not original enough for Mr. Dahl to know how to patent a name.

How To Patent A Name – Be Original

Another way to come up with a unique name is to make a word up that doesn’t exist. I mean, what exactly is a Google? Why, it’s the trademarked name of a company you say. Yes, but before it was created, nobody else thought of this as having any kind of meaning. Now, it’s a name that’s recognized throughout the world.

If you have a brand worth protecting, a trademark is the way to go. You’ll only need to know how to patent a name if the brand is also a physical product as discussed in https://www.oddee.com/how-inventhelp-can-assist-new-inventors/.

Provisional patent application is developed to protect the idea of old invention from copying. Old invention here means the idea of a particular invention was developed long back but the actual product is not brought into force till date. Inventors apply for a provisional patent application when the invention has a huge commercial demand and also to avoid the risk of unauthorized use of the idea.

Create a drawing of your invention to polish the idea on the invention. Patent law requires patent drawings to understand the details of the invention, its purpose and usage. The invention drawing or the patent drawing must disclose the details of the invention features. The drawings must be filed along with the provisional patent filing as explained in https://www.techtimes.com/articles/246245/20191127/why-inventhelp-is-essential-for-entrepreneurs.htm. The drawing must be in the particular form and should follow the rules of patent drawings as defined by the United States Patent and Trademark Office’s.

A cover sheet is also required to at the time of submitting the provisional patent to the USPTO. The cover sheet must contain details like invention title, inventors/inventor names, addresses, contact and correspondence details, patent attorney details like name and registration numbers, and any member interested in the invention.

After completing the formalities of provisional patent filing, the effective filing date of the particular patent is established and is sealed with a mark called “patent pending”. This will last for a duration of one year from the date of provisional patent filing.

It is required to conduct investigations of the previous inventions. This is to make sure that the invention is purely true, and it does not have any relation with the previous inventions. After verification of the provisional patent application, the patent examiners will start with the “prior art” process.

This process is for finding any similarities or duplication of idea of any previous inventions. In case of similarities with earlier inventions, the examiner will not grant the provisional patent application. Therefore, it is necessary to hire a patenting agency, like InventHelp, and conduct a basic patent research to avoid wasting time and efforts in the filing process.

Filing and getting a patent cannot happen over a night. Getting a patent is a tedious task. It requires time and understanding of the patent to file and get the patent for the invention or a product. As explained, Paten is a legal document that protects the invention from unauthorized use. It takes time to fill the patent application form and processing the form to grant the patent.

One can apply for different types of patent. Patent can be applied for product, utility, and designs. Patent application is not a simple procedure. It is a complex legal document and should be prepared by a trained patent attorney. The basic instructions to be followed in getting a patent on a product are given below.

Visit websites of patent application guidelines. You can visit the site guide to product patent applications available on USPTO website. This site gives the detail procedures like patent meaning, patent types, fees structure, things to include in the application and drawing guidelines. It is good to take a print copy of the application process to get into details point by point as shown on https://www.ispot.tv/brands/dQR/inventhelp.

Get the details of the product patent fee structure in detail. The patent application process from the time of filing till the patent grant process requires fees. This payment is done on a slot basis. Certain fee structures are included in the processing of patent application. It is absolutely necessary to know the lump sum fess that will be required for getting the product patent.

Give detailed idea or description of the product invention. You should gather the required information expected by the patent office. To make sure that you have all the information in your patent application, it is necessary to include brief history of invention background, product invention benefits and purpose of inventing the product as explained in this article on https://www.tmcnet.com/topics/articles/2018/06/13/438460-how-inventhelp-change-business-destiny.htm.

This should be explained by using diagrams and drawings with descriptions. Try to explain the technical as well as non-technical applications of the product as simple as possible. You need to include whatever the product can do. It is also required to ensure that your product is an original one, not a duplicate.

Imagine, you have just invented something that will make life easier and simple, and you want to protect the invention from being copied or used by others without your consent. For this you need a patent to protect the invention.

Patent is a legal procedure of getting the right of manufacturing and selling the product to make money. At the same time, it also ensures that the invention is protected from misuse or copy of the idea under legal protection acts. But it requires time, effort, and of course, high fees to obtain a patent.

You might be thinking on ‘how to afford the fees to obtain a patent’? The cost of getting a patent has increased, and it’s really hard to meet the cost of patent fees. Getting a patent for free is not impossible, but it needs enough knowledge of patent and legal procedures of obtaining it as was described in this story on https://www.licensingexpo.com/vibe.

Here are the necessary procedures of obtaining a patent for free. You will find no patent attorney, court procedures, legal hearings and juries in the process. But you should ensure to follow the entire guidelines outline in the Patent and Trademark Office to obtain the patent for free.

Give detail description of the invention on a piece of paper. You need to get two to three persons for witness while documenting the invention. The document should detail all the invention features and its advantages.

Think on protectable invention. The process requires knowledge of patent legal procedures and common sense. In this step, it is required to set the new invention into a Patent and Trademark Office’s broad categories. The idea is to create the sense of feeling that the invention is unique and great.

Determine whether the invention is qualified enough to get a patent. It is required to research on the previous inventions and its associated developments. This requires searching a list of patent’s data and directories to find any related inventions. This is somewhat confusing, but can be mastered through constant practice.

After completing the patent search, it is necessary to answer whether the invention is something new and different from the previous invention or is your invention something really appreciable? It’s simple to prepare the answer by comparing the earlier invention with the existing one.

Now, you can start the drafting and filing process of Patent Application. Try to break the patent application document into different parts. Fine example is to give an overview of invention background, illustrate the invention with the use of flow charts and drawings, describe the aspects and structure of the invention.

The steps defined above do not require a patent attorney. You can request someone in the patent office to review your patent claims. This will be done definitely free at cost.

After completing the filing of patent, you should be ready to reply all the objections and queries of the Patent Office. This process is simple and does not require any hard and tough legal principles. You can also negotiate for the best patent and continue with the Bureaucracy until the Patent gets issued.

To get a patent for free, it is required to have knowledge and imagination. Many inventors have obtained free patent without the involvement of patent attorneys and high fees. With the help of a free patent examiner, it is possible to get patent.

Obtaining a free patent requires overall understanding of the invention and patent obtaining procedures. It is required to know the art of describing the invention in detail to get a free patent. Learning and applying the basic steps of obtaining patent for free is not that complex and it was very well explained on https://www.dailypress.com/blogs/dp-ugc-article-inventhelp-provides-the-necessary-help-to-nav-1-2019-01-03-story.html.

However, people with little patent knowledge will find it difficult. But by following the free patent obtaining process steps, you can save the money in your pocket and at the same time, reward yourself with a valid patent free of cost for your invention.

A person’s mind is full of vague ideas which once received a concrete shape need to be protected from being misused and copied. With the pursuit of ensuring safety and protection on an invention or idea patents were introduced. The patents are the legal right provided by the governing bodies to a person with a unique invention.

However, patents are not granted that easily, a government’s representative conduct a patent search to make sure that invention is unique. However, individuals can conduct free patent search on their level to gauge the novelty of the invention.

Patent searches can be conducted for free of cost. The free patent searches includes online search as. Internet is the hub of knowledge. It carries the information of millions of books. Historical happenings and present scenario are all available on internet in the form of open book which can be read by anyone as you can read from https://www.linkedin.com/company/inventhelp.

Free patent searches enable a person to get the in-depth information of any desired field. Suppose you have the invented a unique calculator then you can find vast information about the history of the calculators. Moreover, the present prevalent trend and features of calculators would also become known to you.

Internet as free patent search engine, helps an individual not only in getting information about a product but also help in knowing and understanding the possible changes that one can make in a particular product. There are many websites and search engines available on internet which are free to use and highly useful.

Next to internet, the second source of free patent search is Library. One can always go to the US Patent and Trade Mark Library to gather the information of a particular product, you can read more about it from https://www.indeed.com/cmp/Inventhelp. Lets again take the example of calculator. The calculators have been in use for past many years, there are a number of calculators like the one with batteries and the one without better, which runs on solar energy. Suppose you come up with an invention of calculator which is self powered and never needs to be charged then you can always look up at the type of calculators which have already been created.

Knowing the background of the product can save your time of re-inventing the product. When the patent application is submitted to the patent examiner, he or she also conducts patent search. The patent search is conducted with the pursuit of checking the novelty of the innovation. Therefore, it is advisable that free patent search should be conducted by the inventors.

Free patent search can not only save time but also money. A large amount of money is spent by the inventor for the creation of the invention. This money can be saved from being pasted by conducting free patent search.

If you have knowledge in getting a patent, it is okay if you are the one who will apply for it however, you should know that during the application, it takes a lot of time, effort and you should have enough patience. If you do not want to experience the lengthy application process, then hiring a professional on this area is advisable.

Take note that if you hire someone, this someone is an attorney so it means that you have to spend a lot of money. Saving money is also important that is why you should know the process and the things you need when filing a patent.

Lawyers are not necessary when getting a patent. In order to obtain a patent you should ensure that your invention qualifies for the requirements needed in applying patent and you should be confident and knowledgeable in discussing all the aspects related to your invention as was discussed in https://www.crunchbase.com/organization/inventhelp article.

If you are a type of person that is not confident in speaking, it is not a problem at all. You will be used in speaking many times regarding your invention. The basic steps of getting a patent are helpful so that you will have a perspective of what are the things that will happen during the patent application.

The first thing you should do is to keep a good and complete record of your invention, the process and the improvement of your invention. Make a description, diagram or drawing that may illustrate the invention.

You should have a prototype as well because this will be the product you will be doing the test. In every test and changes the signature and date is very important and the presence of at least two reliable witnesses. Second, is to ensure that the invention you did will qualify for getting a patent. The invention should be new and will be of help in the country.

The invention should not be reproduced to the public after a year from the day of patent application. Third is to assess potential of your invention to be commercialized. It can be a good business venture for you. Approximately the application process will cost you 1500 dollars as you can find on https://en.m.wikipedia.org/wiki/INPEX.

Be certain that before you spend more than a thousand dollars your invention should be worth and possibility of the people in buying it is high. Do a search as well, because if you have a similar product with another person your application will be denied. Lastly, prepare and file for getting a patent to the USPTO.

Upon the application, this will be the start of the very stressful but challenging part on getting the approval for patent. Not everyone who will apply gets the approval, most of the applicants will get denied for some reasons so when you get the approval it is very fulfilling on part of the inventor.

A Provisional Patent Application does not get examined by the Patent Office, so nothing really happens until you file a formal Non-provisional Patent Application. Once you’ve filed a Non-provisional Patent Application, the “patent prosecution” phase of the application process begins. Patent prosecution describes the interaction between the Patent Office and your Patent Attorney or Agent concerning your Patent Application.

Oftentimes, Claims in a Patent Application are rejected or objected to in a first Office Action from the Patent Office. Your Patent Attorney’s/Agent’s job is then to argue that your Claims should be allowed based on evidence presented to the Examiner. Alternatively, your Claims may have to be amended to satisfy the Patent Office.

There may be several office actions issued by the Patent Office before a final decision is made regarding your Patent Application. Attorneys can meet face-to-face with the Patent Examiner assigned to your Application, which is very helpful in accelerating the processing of your Patent Application.

In addition, other factors can help accelerate the processing of your Patent Application, including the age of the Inventor and the nature of the invention. Consult with a Patent Attorney or Agent to learn more about these factors as suggested on http://classifieds.usatoday.com/blog/business-spotlight/business-spotlight-inventhelp/.

What Happens After Patent Prosecution?

If one or more Claims in your Patent Application are allowed, you will receive a Patent in the form of a Certificate of Registration. Your patent is good for 20 years from the filing date of the Patent Application. It is therefore to your benefit to minimize the patent prosecution phase, so that you can maximize your patent term.

For the life of the patent, you control the manufacture, use and sale of your invention. This can be an enormously powerful right. In addition, anyone that infringes on your patent may be subject to treble (triple) damages going back to the date of publication of your Patent Application.

Before disclosing your invention to any non-patent attorney, you should have a Confidentiality and Nondisclosure Agreement in place. Even after you file a Patent Application, it is a good idea to have such an agreement in place to provide maximum protection as described in this article on https://www.collegian.psu.edu/xpert_advice/article_1c0ae35e-1916-11e9-a355-13e0947b8cdc.html.

If you plan to collaborate with another person or company, make sure that your Nondisclosure Agreement contains an assignment of rights back to you concerning any changes or improvements to your original invention. Otherwise, the other person or company may become a co-inventor.

You’ve developed the idea, put time into the patent application and construction plans, now the real question is; What is this idea going to be worth to other people? You probably gave this at least a brief thought when you developed the idea to make sure it would be worth the cost to produce. However, a more detailed analysis of the invention’s value will be needed before developing a marketing plan.

How Do You Determine Your Invention’s Value?

There are many factors that must be considered when arriving at a figure. Starting basic, you should consider what you would pay for the idea if you were buying it from someone else. Obviously, you decided that the idea was marketable, or you wouldn’t have made it this far. Next, consider what you would pay for it at the store if you needed, or wanted, it. This figure will help you determine the ultimate value of the product. There are professional patenting agencies that can help you out like InventHelp and you can check their page on Facebook – https://www.facebook.com/inventhelp/  to learn more.

What Market are You Shooting For?

If your invention is designed for the general public the price will be lower in order to reach the largest number of people. If the product, or idea, is aimed at businesses you may determine the value, and subsequent price, can be set higher. The market will have a large influence on the price you set for your product.

When doing market research you will also be able to determine if there are other, similar, products available. If there are similar products available this will help in determining the value of your invention. You will not be able to charge a lot more for your product or idea without justifying the additional cost in some way.

Simply approaching a problem from a different angle may not be enough to justify an increased price tag. Offering a more efficient solution, or easier approach, to a problem might be enough to increase the value of your idea.

Another variable in the value of the invention is whether you are planning, and able, to produce the product yourself. The value of the product becomes a combination of the cost of the raw materials, in combination with each other, and the value that the final product holds for the intended audience.

For example, if a product uses gold as one of its raw materials, and the product is not available in any other form, the value of the invention will be higher. Conversely, if your invention is just a variation of currently available products, meant to be produced less expensively, and with added convenience, the price set for it may be lower.

Many Inventors Choose Not to Produce Their Own Products

This may be due to a lack of facilities, raw materials, or desire to produce the product. Some inventors specialize in developing ideas and then selling these ideas to companies who will produce the products under their own name. Determining the value of the idea then becomes essential in setting a price. Again, the target market, and its size, must be determined to estimate the number of units that could be sold.

The final sale price of the product, minus the production cost and marketing costs, will equal the profit that can be realized from the invention. A business will not pay more for an idea than they can turn around for a profit. This means the value of the product will be based on the potential profit that can be realized by the sale of the product in the target market.

Lastly, when determining value of an idea, many inventors will do their own market survey. They will approach people in their target market and ask them questions to determine their likelihood to purchase the proposed product and what price they would pay. This research will give a real world estimate of the value of the product as explained on https://campuspress.yale.edu/tribune/inventhelp-gets-great-inventions-from-the-mind-to-the-market/. The key is to take all answers into consideration and look for the common threads.

All of the factors should be considered when determining an inventions value. After considering the market, any similar products, the cost of production and potential sales price, and value and availability of the raw materials, an estimate of value may be determined. Each factor separately influences the value, but the collective value of all factors will help determine the ultimate value, and final price of the product, or idea.

Do you have an invention or idea that you want to patent? There are three major factors in patenting success. Most people think that all they have to do is come up with a good idea for a product and they can instantly get a patent.

Unfortunately it is not that easy. Getting a patent requires hard work and meeting three specific objectives that you should make sure you have before you even start. Those three things are usefulness, novelty, and non-obviousness and you can read about them on http://collegian.csufresno.edu/2019/07/22/should-i-use-inventhelp-to-bring-my-invention-to-life/ in details.

Usefulness:

Usefulness is probably the easiest of the three factors to prove. It obviously means that the invention must be useful to someone. That mean simply useful to the inventor seek a patent. Usefulness includes that fact that the invention actually operates that way it was intended to. You cannot patent an idea for a product or invention. You may only patent the actual working invention.

Novelty:

Novelty means a product or process for doing something, a design that has never before existed in all of human kind. No one has ever heard of or seen anything like this before.

If the invention has ever been publicly talked about or a report published about it before the applicant for a patent applied for a patent, it will be declined. If you have an invention it is best not to talk about it until you file for a patent.

If you have publically talked about the invention or have publically sold the product in the U.S. you must file a patent application within one year of these events or you forfeit your right for a patent.

To have patenting success your invention must be truly unique. Make sure that there are not any similar products on the market. Differentiate your product from any similar product in a significant way. If you do not, you may not meet the novelty requirement.

Non-Obviousness:

This means that the invention is so unique that an expert in the field would not have normally thought of it. For example, a software designer may add a small feature to an already existing design and try to patent it. This is not non-obviousness. You can just alter a few things and call it a new invention. If you develop a new piece of software and another expert in the field says “Wow! I wish I had thought of that” you have non-obviousness.

In conclusion…

If you have an invention that meets the three factors discussed above you have a fairly good chance of getting a patent. Keep in mind though, that you truly have to prove these things to some pretty tough judges. The U.S. patent office (commonly known as the USPTO) has some stringent guidelines you must meet and it is very well explained here – https://www.sfexaminer.com/marketplace/how-can-you-benefit-from-inventhelp/.