Mythical, Inc (Sherman Oaks, CA)
Gaming platforms online are widely known. Selling digital in-game assets to the users of gaming platforms online is known.Click here to view the patent on USPTO website.
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What is a patent?
Patents are granted by the government in order to protect the invention. It gives the inventor the sole right to develop, utilize and market the invention. Society benefits when new technology is introduced to market. These benefits may be directly realized by people who are able to perform feats previously thought impossible as well as indirectly through the economic opportunities which innovation can bring (business growth, jobs).
Many drug firms and researchers from universities are seeking patent protection for their work and research. Patents are granted for a product, process, or method of making new materials. Patent protection has to be granted to an invention that is useful, novel, and not previously known to others in the same area.
Patents are a way to give inventors a reward for commercially profitable inventions. They provide a reason for inventors to come up with new ideas. Small companies and inventors are sure that they will earn a return on their investment in technology development through patents. They can earn a living from their work.
Companies with the capacity to:
Make sure you protect your unique products and services
Enhance the visibility and worth of your product’s presence on the market
Make your brand stand out from the rest.
Access business and technical expertise and other information;
Avoid accidentally using third-party content or loosing valuable data, creative outputs, or any other output that is creative.
Patents transform the knowledge of inventors into an asset that can be sold, that opens new avenues for employment creation through licensing and joint ventures.
Investors who are involved in the commercialization and development of technology will appreciate small businesses with patent protection more appealing.
Patents can help develop innovations and new ideas. This information could be eligible for patent protection.
Patents can be used to serve as an effective deterrent for untrustworthy third parties that profit from the efforts of an invention.
Commercially successful patent-protected technology revenues could be used to finance technological research and development (R&D), which will boost the likelihood of improved technology in the future.
It is possible to use the intellectual property rights of your company to convince lenders and investors that your product is a viable commercial potential. Sometimes, a single patent can lead to multiple financing options. Patents and other IP assets can be utilized as collateral or security for debt financing. Investors may also look at the patents you own to increase their company valuation. Forbes and others have noted that each patent can add anywhere from $500,000 to a million dollars in company valuation.
A properly-constructed business plan is vital for startups. It must be founded on IP and show how your product/service is distinctive. Investors will also be impressed if you can prove that your IP rights are secured or are in progress of being secure, and that they align with your business plan.
It is vital to keep an invention secret prior to filing for patent protection. Public disclosure of an invention prior to filing can typically devalue its novelty and make it ineligible for patent protection. Thus, disclosures that are filed prior to filing (e.g. for testing-marketing investors, test-marketing, or for other business partners) should only be made upon signing a confidentiality contract.
There are a variety of patents. Understanding them is crucial to protect your invention. Patents for utility cover techniques and machines. Design patents cover ornamental designs. Utility patents are the best as they protect the proprietor from copycats and other competitors. Frequently the utility patents are granted for alterations or improvements to existing inventions. They can also be used to enhance or modify existing inventions. A process patent would be a way to describe the actions or methods to perform a particular action. A chemical composition will include a combination of ingredients.
How long does a patent last? Although utility patents are valid up to 20 years from their initial filing, they can be extended by delay at the patent office.
Are you considering patenting your ideas? Patents are granted only to the first-to-file applicants which is why you must file as quickly as possible. Call PatentPC today to get your patent application approved!
Patent searches are a must when you’re writing an application for patent. This will allow you to see different ideas and give you an understanding of them. This allows you to restrict the scope of your invention. You can also discover the current state of the art within your field of invention. This will assist you in comprehend the scope of your invention as well as prepare for the filing of the patent application.
How to Search for Patents
Patent searches are the first step in obtaining your patent. You can do a google patent search or do a USPTO search. Patent-pending is the name used to describe the product that has been included in the patent application. You can search the public pair to find the patent application. Once the patent office has approved your application, you will be able do a patent number search to find the patent issued. Your product now has the potential to be patentable. It is also possible to use the USPTO search engine. Read on for more details. For assistance, consult an attorney for patents. Patents in the United States are granted by the US trademark and patent office, or the United States patent office. This office also evaluates trademark applications.
Are you interested in similar patents? Here are the steps to follow:
1. Brainstorm terms that describe your invention based upon the purpose, composition and use.
Start by writing down a brief and precise description of your idea. Do not use generic terms such as “device”, “process,” or “system”. Instead, think about synonyms for the terms you selected initially. Also, keep track of crucial technical terms as well as keywords.
Utilize the following questions to help you identify the keywords or concepts.
- What is the purpose of the invention? Is it a utilitarian device or an ornamental design?
- Is inventing a method to make something or carry out an action? Is it an object?
- What is the composition of the invention? What is the physical composition of the invention?
- What’s the point of this invention?
- What are the terms used in technical terminology and key words that define the essence of an invention? A technical dictionary can help you identify the correct words.
2. These terms allow you to look up pertinent Cooperative Patent Classifications at Classification Search Tool. If you are unable to determine the correct classification to describe your invention, scan through the classification’s Schemas of classes (class schedules). Consider substituting the words that you’re using to describe your invention if you fail to get any results from the Classification Text Search with synonyms similar to the words you used in Step 1.
3. Review the CPC Classification Definition to verify the relevancy of the CPC classification that you have located. The link to a CPC classification definition is available if the chosen classification title has a blue box that includes “D” to its left. CPC classification definitions can aid you in determining the classification’s field of application so that you can select the most relevant. Additionally they can provide some tips for searching and other information which could be helpful to conduct further research.
4. The Patents Full-Text Database and the Image Database allow you to retrieve patent documents that include the CPC classification. You can review and narrow down the relevant patent publications by focusing first on the abstract and representative drawings.
5. Use this selection of the most pertinent patent documents to look at each one thoroughly for any the similarities to your idea. Be sure to read the specification and claims. It is possible to find additional patents through contacting the patent examiner and the applicant.
6. You can retrieve published patent applications that meet the CPC classification you selected in Step 3. The same search strategy can be employed as Step 4. You can filter your search results in order to locate the most relevant patent applications by reviewing the abstracts as well as the drawings on every page. Next, carefully examine the patent applications published, paying particular attention to the claims as well as additional drawings.
7. Find other US patents by keyword search in AppFT or PatFT databases, classification search of non-U.S. patents as described below, and searching for non-patent literature disclosures of inventions using web search engines. Here are some examples:
- 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.