Coming up with the idea is the first step now you need to protect that idea if you want to process further. Understanding the key aspects of Intellectual Property is going to help you build a good base to work from.
So you think you have an idea? Great! But first, stop and think: Are you one of many that fall into the six categories of mistakes that inventors make? If you are, then proceed with caution as you might get knocked down quickly, a tragedy that comes at a high cost. Mistake 1 – Expecting Unrealistic Results Don’t think that you will make a million dollars straight away. It is highly unlikely. All new products take time to develop. For example, it takes a minimum of 6 months to complete the design and manufacturing processes before progressing to marketing and […]
I have often been asked, “Should I patent my invention?” Of course! It is always the safest way to protect your invention from people stealing it; yes, unfortunately this happens. Some inventors choose not to patent straight away. This may be considered foolish by experts and patent attorneys, but not everyone can afford to pay for patents on every idea they have. Later topics will touch further on patents and what you need to know and do. At this stage, however, understanding that you don’t need a patent immediately is crucial in staying positive about not having to spend all […]
You might be thinking, “How do I make my idea a reality without sharing it with others?” At some point, you will need to share your ideas with designers, manufacturers, distributors and marketing experts. The most common way of protecting your idea is, of course, to obtain a patent. This process, however, can be costly, not to mention time consuming as they can potentially take years to be approved. There are other cost effective strategies that you can use to protect your idea from being stolen. Agreements There are a few legal tools to help protect your idea. These tools […]
Below are some pro’s and con’s regarding getting a patent for your product: Pros Prevent others from using your design Competitor restrictions on Designs Ability to earn money from licenses or sales Patent gives your product credibility Cons Involved costs Potential legal issues
Its important to remember a Patent is a legal binding document that is an enforceable contract giving you the rights of a design once the patent has been approved. As with any contract, you need to include accurate information as this could potentially affect the validity of the patent if done incorrectly. I need to point out that most of the time patent lawyers/attorneys work on a set fee whilst some may work on a hourly rate. If you choose to go for the hourly rate option, be aware this potentially cost more in the long run. Costs involved Check […]
This is a common question that inventors will ask. Patent, Trademark or Copyright? The three categories below are known as Intellectual Property. Patent Trademark Copyright Patent This is the method that protects inventions and improvement to existing inventions which consist of Utility, Design or Plant Patents. Things can be patented which “have a purpose”. Trademark Trademarks are applied to words, names, devices, symbols and images that represent goods, services or products. Copyright Copyright is applied to the expression of ideas in literary, artistic and musical work. For example you can copyright items written in a website or book. You can […]
You might be thinking, how do I make my idea a reality without sharing it with others. At some point you will need to share your ideas with designers, manufacturers, distributors and marketing experts. The most common way of protecting your idea is of course to get a patent. This process can however be costly, and patents can potentially take years to be approved. There are however, other cost effective strategies you can use to protect your idea from being stolen.
You will lose your right to a patent if you fail to pay maintenance fees to the patent office, which ultimately results in the patent expiring. For this reason is is very important to keep your patent up to date and always inform the relevant patent office of your current address to receive correspondence and fee information.
Every business has a trading name, but not every business has a brand name or a product brand. I am going to explain further how having a product brand will help your company become more successful. The most effective type of branding is the use of a logo, symbol or even the use of a collection of colours. A brand is a name or symbol that is used to identify a company or its products and sticks out from competitors. Stick out from the competition A brand is used by companies to make their products stick out and become a product […]
A trademark is a distinguishing feature that is a sign or indicator, typically used by a business to make their product or services stick out to consumers. Having a trademark usually tells people that your product is the unique version of that product and makes you stick out from competitors. Having a registered trademark adds exclusive rights which can be enforced as trademark infringement. For people or businesses that use an unregistered trademark they generally have rights that restrict people from passing off as the mark as their own. The internet has caused trademarks and trade-names to become more valuable. With the competition so […]