Wednesday, December 28, 2011

Patent notes 6/18/04

Here are the most important things to know: -- It’s probably at least two years from filing, to grant (although a provisional patent can sometimes issue faster, you still need to prosecute the primary application). -- The process is very expensive, and it’s in the USPTO’s best interest to reject your application, because they get additional fees every time they force you to re-file (one of the reasons the PTO is such a revenue generator for our government). -- One patent rarely protects an invention. -- Don’t quit your day job. Try to keep doing what you were already doing. Do not expect any income from the patent for many years. It’s great if you can make money practicing the invention, but be warned, the whole world will copy you if there’s likelihood of profit, and you won’t be able to stop them for years. -- License, don’t assign. Investors will want you to assign your application(s) to your company prior to their investment. In return for their investment they will want strict (and costly) oversight. If the business fails, they will end up with the patents. It’s not worth it (further clarity about investors: It's in their best interest for you to fail and within their power to force expenses on you). -- File a continuation application as well as a PCT (International application). -- Do not trust anyone, especially those who say they want to “invest” in your idea (especially if they drop everything to focus on you). Make everyone sign a Confidentiality Agreement. Most will tell you they *never* sign those things, calling them "worthless". Insist. If they won’t sign one, then walk away. -- Make your claims as broad as possible. In your initial application, claim every aspect of the invention from the mechanics of it’s implementation to the method of it’s use. The PTO will define and restrict the separate “inventions” within your claims and you can prosecute them separately.

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