Patent
A guide to the patent process
A trademark is used to protect your business’ image from competitor’s usage - but when you have a product or invention that you want to protect from others, you need a patent.
A patent names your invention as your asset, and prevents others from making, using or selling your intellectual property.
Slightly different from a trademark in reach and usage, a patent is awarded for a certain length of time. Most often your patent will last around 20 years. You can’t renew an expired patent, but you can get it extended under certain circumstances, such as pending approval from a regulatory board.
Getting a patent can be a lengthy and expensive process, usually taking a couple of years and a few thousand dollars to complete. However, it’s well worth the effort and cost when it comes to protecting the invention that can make your business.
What to Do
If you have an invention that you think is worth protecting, you need to apply for a patent. There are several types of patents, including:
- Utility patents which protect processes.
- Design patents which protect plans.
- Plant patents which protect new plant varieties.
Regardless of your type of patent, you have to file an application with the United States Patent and Trademark Office. You can easily do so online, or you can send an application in by mail or in person.
What You Need
The required parts of your patent application depend on the type you’re completing. For example, design patent applications require drawings of the design, while a plant patent may have to include an examination of the plant itself.
The patent process can get difficult because there are a lot of rules and regulations to which you must adhere. You may want to involve an attorney in the process so you can be sure you haven’t missed anything or done something incorrectly. When you’re faced with a sea of paperwork, sometimes it’s best to call in the experts!
Ownership
The great thing about a patent is that it’s considered property. That means you can use it as an asset, and even sell or mortgage it.
