Patents: What You Need to Know

What Is a Patent?

There are several different methods of protecting intellectual property, such as copyrights and trademarks. A patent is distinguishable because it is used to protect an invention, whereas copyrights are for creative works and trademarks are for items such as symbols and logos. Patents grant protection for an item for 20 years from the date you file the application and ensure that no one will exploit your invention during that time, or if they do, there will be legal ramifications.

What Types of Patents Are Available?

There are three types of patents you may choose from:

• • design patent, used on any new, original design for something that will be manufactured
• • utility patent, which is used for a product, process or any improvement on either of those
• • plant patent, intended for someone who discovers, invents or produces a new type of plant

The most common type of patent is the utility patent, though each of these provides the same level of protection.

What May Be Patented?

As evidenced by the types of patents outlined above, you may request a patent on most items that are new and original. However, the Atomic Energy Act of 1954 prevents people from securing a patent for any invention that could only be used in association with an atomic weapon.

It should also be pointed out that patent law requires that the item in question is useful. According to the USPTO, something that is useful means it has a purpose and it can carry out that purpose. In other words, a machine that cannot carry out its sole purpose would not be considered useful and therefore likely would not be granted a patent.

Lastly, an idea is ineligible for a patent. Simply thinking up an invention is not enough; the item must have been invented already.

What Are the Benefits of a Patent?

As discussed earlier, when you obtain a patent, you effectively protect your invention from someone else using and potentially profiting from it. However, you also benefit because having a patent can make your business seem more valuable to a bank or someone looking to purchase your item. The National Inventor Fraud Center also points out that a patent can actually increase in value over time, unlike many other business assets.

How Do I Secure a Patent?

Only the actual inventor of the item in question can apply for a patent with the USPTO. Prior to filing, it is a good idea to search the patent database to ensure that someone else has not secured a patent on your item. These searches can be difficult, which is why many people turn to an attorney for help.

Once you have ascertained your invention is eligible for a patent, you can file one of two types of applications with the USPTO. The first, a provisional patent, gives you a priority filing date while you decide whether or not to secure a full application. If you file a non-provisional patent application within a year, the date from the provisional patent will be used. The non-provisional application is the only way to start the examination process and eventually receive a patent.

You may use the terms ‘patent pending’ or ‘patent applied for’ to alert others that you are in the process of securing a patent. However, protection only begins once the USPTO has granted the patent.

How Much Does a Patent Cost?

The fees for a patent will vary both on the type of patent that is needed as well as how you will claim the invention. However, you can expect to pay a filing fee, which is collected regardless of whether the patent is granted. There is also an issue fee applicable once you are granted the patent.

Further, you must pay a maintenance fee in order to keep your patent protection. These fees are paid three and a half, seven and a half and 11 and a half years after you receive the patent. The USPTO notes that there could be additional fees based on your individual circumstances.

Patents are one of the surest ways to protect your business’ assets. Gaining those legal rights will help you in the event that someone infringes on your intellectual property.