Developing a marketable invention involves sheer hard work and valuable time. When you’re ready to get returns on investment, the last thing you need is someone stealing the idea and making money from it. Money that should be rightfully yours. Getting the innovation patented ensures that you retain full rights to the intellectual property. Patenting is critical since you’ll have to share the prototype with manufacturers who can mass-produce and market the actual product to monetize the idea. 

Retain Experienced Patent Attorneys

Once you have tested and checked the idea for practical usage, your first step should be to get in touch with experienced patent lawyers. They can guide you on how to safeguard your interests legally. Not only will they assist you through the process, but they’ll also uphold your rights in court in case the patent is violated. Rest assured that patent attorneys comply with strict ethical and professional regulations, which is why you can safely trust them with your intellectual property. 

Understand What Exactly is a Patent

When filing a patent, be aware of the fact that this license or legal grant is given by the United States Patent and Trademark Office. The grant recognizes your right to own, manufacture, use, or market the product to customers in the US. However, you will have to get the necessary permits from the relevant federal agencies. For instance, if you’re innovating a food or beverage, you will have to acquire legal permits from the FDA. 

Maintain a Detailed Record of How You Developed the Invention

Having determined that you’re developing a marketable product, you must keep detailed records of the steps leading up to the final invention. Create a log and make entries of the process so you can prove that the idea is yours. You would also want to get at least two people to sign as witnesses and, if needed, get the record authenticated through online notarization. This step becomes vital if you’re working with contractors, employees, and other entities assisting you with making the prototype. Like your lawyers will suggest, make sure to get them to sign NDAs.  

Ensure that There Are No Existing Patents on the Idea

Before filing a patent application, do the necessary research to ensure that the idea does not have an existing or pending approval patent. Also, check the USPTO site for information while scanning global scientific and technical journals and records. Often, a particular need in the market has several competing companies undertaking research and development projects. Search for the possibility of other inventors beating you to it.

Get Together Additional Details

Before filing for a patent, gather information like the costs associated with the process, the type of patent you should file for, and the need for a Provisional Patent Application. This step will assign you an early filing date so you can acquire the status of “patent pending.” In this way, you’ll establish your right on the idea even if you wish to file for an actual patent at a later date. 

Filing a patent application can be confusing when you’re trying to secure intellectual property. Rely on the services of an experienced attorney to help you through the process.