If you are exploring to apply for a patent, Patent search is your foremost step in the path. Whilst a patent search can be done via a simple internet search (Google patents/ Espacenet etc.) could well be your cheapest option yet consuming time option, there is plenty professional help to do the same. However, the professional option will do a further in-depth search and categorise the patents in classes of similarity to your patent which is also a requirement to be declared in your application to Patent office. Although, patent search helps you identify similar inventions, this is only available for Published patents, the first 18months of a patent application remains hidden in the vaults of the patent offices.
The Process
Firstly, assess the patentability of your invention based on the factors mentioned above. If you feel its the right step then find the right profesional team to do a patent search and write a good patent application that covers a wider area possibly covering all loop holes. The patent process is not just time consuming but also a very expensive process. Therefore, make sure you have enough funds to support the fees of patent attorneys and the surprise bills that may spring up. Many patent attorneys won’t give you a clear picture of the exorbitant costs involved and paint a rosy picture with the immediate costs only. Many of us in the inventor community have been a victim to these and paid dearly for this.
Patent application will need the inventor to engage closely with the patent attorney to make sure the application describes the innovation how one envisioned. Patent attorneys will also help broaden the scope of the innovation by careful wording or sentences. This will open up wider market and also try prevent several copycat products. The invention will need to be described not just with words but also with illustrations and images that can help the patent examiner visualise your idea. Each challenge by examiner and a reponse to it is time consuming and incurs a lot of fees. Therefore, an application needs to be as comprehensive and descriptive as possible.
Fees
This can vary from one country to another and also based upon individual inventions and the work involved. To give you an idea.. a rough average fees for a few steps involved are below. Patent search: $1000-$1500 (approx) One country (UK/USA) Patent application writing and filing: $5000-$7000 (approx.) Reporting of Patent Examiner comments and filing responses: $3000 (approx.) Yearly fees: $300-500 (appprox) Extension of patent to other countries: $3000-5000/ country (approx.) Patent Translation fees: $2500-5000 (approx.) World patent application (PCT): $4000-6000 (approx.) Again, these fees are all to give you a taster of what kind of expenses patent process may involve. We can provide you quote for your invention and after assessing it in depth.
Which countries do I apply for?
All depends on the type of invention and where you see it being applied. You may also factor in the industries, in major countries, that may value your patent better. Initially, applying the patent in the country of origin of invention is usually a step of choice. You will then get 12months to decide which other countries you may want to extend the patent to or you could decide to go for a worldwide patent (PCT) that gives you extra time to decide the prior. Some countries like the USA have a rule of first to market that can over ride the first to patent.
Do I have to wait for a Patent to be granted first before releasing my product in the market ?
The simple answer is.. No, the date of submission of patent application is when your invention gets a “Patent pending” status and is sufficient to start the ball rolling. Any other individual or organisation that may try to copy your invention after this date, could be legally challenged. With a patent-pending status, you could even licence your product to manufacturers. The value of a patent and the royalties received are much higher for a granted-patent than a pending one.
Next step... Build product or Licence the patent ?
This depends on your original vision for your invention. If you applying a patent to protect a product that you have already started building then you use the patent to support in securing investments, marketing etc. But, if you are only protecting the invention which has a wider application in the world then you can explore tie-ups with companies / manufactures / organisations with a licensing deal which will provide you royalty for lifetime of the patent.
How long does a Patent last ?
Patents usually last 20 years from the date of first filing of the application.
As you can see, the chapter on Patents is exhaustive and never ending ifs and buts. We can help you understand the patent application process, realistic fees to expect and answer all your questions. This will better prepare you on your journey to pursue a mouthful of sky.