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What is a patent?
A patent is granted by the government to protect an invention, patents give the inventor with exclusive rights to develop, utilize, sell and promote the invention? society gains when a new technology is brought to the market. These benefits may be directly realized by people who are able to achieve previously impossible feats and indirectly by the opportunities for economic growth that innovation provides (business expansion, job creation).
Many pharmaceutical firms and university researchers are seeking protection from patents in their work and discoveries. Patents can be granted to an abstract or physical product or process, or even a method or composition of material new to the area. In order to be granted protection under a patent an invention has to be novel, useful and not apparent to anyone else within the same subject.
Patents reward inventors who have commercially viable inventions. They act as an incentive for inventors to invent. Small-scale businesses and inventors are assured that they will get a return on the investment they make in technology development via patents. This means they will be able to make a living by their work.
Companies that are able to:
Protect innovative products and services;
Increase the value, visibility, and attractiveness of your product on the market
Differentiate yourself and your products from the competition.
Access business and technical expertise and information;
Avoid the risk of accidentally using proprietary third-party content or losing valuable data, original outputs, or other creative output.
Patents convert knowledge of the inventor into an asset that can be sold, that opens new avenues for employment creation through joint ventures and licensing.
Investors involved in the development and commercialization of technology will find small companies with patent protection to be more attractive.
Patents can result in innovative ideas and inventions. This information could encourage creativity and could be eligible for patent protection.
Patents can serve as an obstacle to unscrupulous third parties profiting from an invention’s efforts.
Patent-protected technology revenue that is commercially profitable could be used for financing technology-related research and development (R&D) which will improve the chances of a better technology in the near future.
Intellectual property ownership can be used to convince lenders and investors that there are legitimate opportunities to market your product. Sometimes, one powerful patent could open the door to multiple financing opportunities. Patents as well as other IP assets can be used as collateral or security for financing debt. Investors can also see your patent assets to increase company valuation. Forbes and other publications have reported that each patent can add between $500,000 and million dollars to your company’s valuation.
A properly-crafted business plan is crucial for new businesses. It should be founded on IP and explain the way your product or service is distinctive. Investors will also be amazed if you have IP rights are secured or in the process to being secured, and that they agree with your business plan.
It is crucial to keep an invention secret prior to filing for patent protection. The public disclosure of an invention can often damage its novelty and make it invalid. The filing of disclosures prior to filing, for example, for investors, test-marketing, or other business partners, should be done only after signing a confidentiality agreement.
There are many kinds of patents. Understanding the different types of patents is vital for protecting your invention. Patents on utility cover the development of new methods and machines. Design patents cover ornamental designs. Utility patents are the best as they protect the owner from copycats as well as other competitors. Patents for utility are usually issued to improve or alter existing inventions. They can also be used to improve or modify existing inventions. A process patent would be a way to describe the actions or methods of performing a specific act. But, a chemical composition could be an amalgamation of ingredients.
What is the length average of a patent? Although utility patents are valid up to 20 years from their earliest filing, they can be extended by delays in the patent office.
Are you considering the patenting of your idea? Patents are only granted to applicants who file first, so you must file quickly. Contact PatentPC today to file your patent application filed!
Patent searches are a must when you’re writing an application for patent. This will enable you to see other ideas and give you an understanding of them. You’ll be able narrow down the nature of your idea. In addition, you can learn about state of the technology in your field of innovation. You’ll be able to get a better idea of what your invention ought to be and will be more prepared to submit your patent application.
How to Search for Patents
The first step to get the patent you want is to conduct the patent search. You can do a google patent search or do a USPTO search. After the patent application has been filed, the item that is covered by the patent application could be called patent-pending, and you can locate the patent application on public pair. Once the patent office approves the application, you will be able to do a patent number search to locate the issued patent, and your product is now patented. You can also use the USPTO search engine. See below for details. Patent lawyers or a patent attorney can assist you with the procedure. In the US, patents are granted by the US patent and trademark office or the United States patent and trademark office, which also reviews trademark applications.
Interested in finding more similar patents? Here are the steps to follow:
1. Create a list of terms that describe your invention based on its intended purpose, composition and use.
Write down a succinct, precise description of your idea. Don’t use generic terms like “device”, “process,” or “system”. Instead, consider synonyms to the terms you selected initially. Next, take note of important technical terms as well as key words.
Utilize the following questions to help you determine keywords or concepts.
- What is the objective of the invention? Is it a utilitarian device or an ornamental design?
- Is invention a way to create something or perform a function? Are you referring to an item?
- What is the basis of the invention? What is the physical makeup of the invention?
- What is the purpose of the invention?
- What are the technical terms and keywords that define the nature of an invention? To find the correct terms, consult an online dictionary of technical terms.
2. Use these terms to find pertinent Cooperative Patent Classifications for your invention at the Classification Text Search Tool. To find the most appropriate classification to your invention, look through the resulting classification’s class Schemes (class schedules). You may want to consider substituting the terms you use for describing your invention, if you fail to receive any results from your Classification Text Search with synonyms such as the terms you used in the first step.
3. Check 3. Check the CPC Classification Definition to confirm the validity of the CPC classification you found. If the selected classification title is a blue box that has an “D” at its left, the hyperlink will take you to the CPC classification definition. CPC classification definitions can help you determine the applicable classification’s scope , so you can select the one that is most appropriate. The definitions could also contain some search tips or other recommendations that could be helpful for further investigation.
4. The Patents Full-Text Database and the Image Database allow you to search for patent documents that have the CPC classification. You can search and find the most relevant patent publications by focusing first on the abstract and drawings representative of.
5. Utilize this selection of most pertinent patent documents to examine each in detail for similarity to your idea. Be sure to read the claims and specification. Consult the applicant and patent examiner for any additional patents.
6. It is possible to find published patent applications that match the CPC classification you selected in Step 3. You can apply the same method of search as in Step 4. You can narrow your results to the most relevant patent applications by looking at the abstract and drawings on each page. Next, examine the patent applications that have been published carefully, paying special attention to the claims and other drawings.
7. You can search for other US patent publications using keyword searching in AppFT or PatFT databases, and also classification searching of patents that are not issued by the United States in the following table. You can also utilize web search engines to search non-patent patent disclosures in literature about inventions. For example:
- Add keywords to your search. Keyword searches may turn up documents that are not well-categorized or have missed classifications during Step 2. For example, US patent examiners often supplement their classification searches with keyword searches. Think about the use of technical engineering terminology rather than everyday words.
- Search for foreign patents using the CPC classification. Then, re-run the search using international patent office search engines such as Espacenet, the European Patent Office’s worldwide patent publication database of over 130 million patent publications. Other national databases include:
- European Patent Office (EPO) provides esp@cenet to access a network of Europe’s patent databases with access to machine translation of European patents.
- Japan Patent Office (JPO) – with access to machine translations of Japanese patents.
- World Intellectual Property Organization (WIPO) offers PATENTSCOPE with a full-text search of published international patent applications and machine translations for some documents, as well as a list of international patent databases.
- Korean Intellectual Property Rights Information Service (KIPRIS)
- State Intellectual Property Office (SIPO) with machine translation of Chinese patents.
- Other International Intellectual Property Offices with online patent databases include Australia, Canada, Denmark, Finland, France, Germany, Great Britain, India, Israel, Netherlands, Norway, Sweden, Switzerland, and Taiwan.
- Search non-patent literature. Inventions can be made public in many non-patent publications. It is recommended that you search journals, books, websites, technical catalogs, conference proceedings, and other print and electronic publications.
To review your search, you can hire a registered patent attorney to assist. A preliminary search will help one better prepare to talk about their invention and other related inventions with a professional patent attorney. In addition, the attorney will not spend too much time or money on patenting basics.