You must protect your research and development investments, regardless of what industry they are. Patenting is the best and most efficient way to ensure you get the full benefits of your investment. In addition, it is the best way for your inventions and ideas to be protected. In this article, we’ll discuss comprehensive guide of patent registration for your invention and using PatentPC AI to draft your application.
Table of Contents
What is patent Registration?
Patent registration occurs when an inventor files the patent application at a national office. For example, filing a patent application in the United States is done through the US Patent and Trademark Office.
Patents are legal documents that protect your idea against competitors and allow you to sell it. It can be any man-made object, but it must be unique to the public. Patents cannot be granted for a computer program or process that is already in use around the world. Your idea must be original and new to obtain a patent.
A national IP office can be used to register a patent. An individual or firm can apply for the registration. Applications are submitted electronically to the government authority. The application contains the specification and illustrations. For example, if you are inventing a manufacturing process, flow charts should be included to illustrate the process.
You should consider the benefits and costs of patenting your ideas before deciding whether to file for or register for a patent. Next, we’ll discuss the benefits of patent registration.
What Are the Benefits of Registering a Patent?
Patent registration has many benefits. First, it protects you from infringement. Your patent is valid for up to 20 years after it has been registered. This helps you to build your brand and protect your product from potential competitors. A patent can also be used to increase the company’s value. You may also be eligible for a grant from the government to help you advance your invention. PatentPC makes it easy to register your patent.
Next, we will discuss the disadvantages and benefits of patent registration.
Benefit #1: Exclusivity for Your Idea
Patent registration is the first benefit. Patents are exclusive for 20 years. This enables you to prevent others from using your invention and taking your revenue. This ensures that no other company can copy your product or service. You can be sure that your revenue is not lost to unapproved third parties as long as the patent has been registered. A patent is a good investment for your business, as it will allow you to attract customers and investors.
Patents can protect your investment in R&D and prevent others from copying your invention. A patent can help you secure a market position and protect your brand against competitors. It will also protect your product against third-party exploitation and your brand name. Patents are a great investment.
Benefit #2: Make Money by Licensing the Idea
Your patent can be licensed to others or sold. This could be a huge source of revenue for your business. Many businesses license patents to make royalties, sometimes with trademarks and registered designs.
Licensing patents to other companies is the main source of new revenues. Patent licensing is a more lucrative source of revenue than their primary business activities. It’s a great way to reap the benefits of all your hard work and investment in your invention. There are many factors to observe before you license your product. Also, you should review your business goals to negotiate the best deal.
Benefit #3: Make Money by Selling the Idea
The best way to sell patents is to use the correct marketing approach. A patent presentation should explain why your idea is valuable and why the buyer should be willing to pay more. A good marketing strategy can help you maximize the potential sale of your IP.
After you have pinpointed potential buyers, the next step is to market your patent. Once you have identified the right buyer, you can reach out to him or her to negotiate a deal. Ensure to give as much information as possible about your invention to potential buyers. It is easier to sell a patent rather than a product, so it pays to spend the time to market it. Although it can be difficult, it is better than living in constant paralysis. This can be done by getting in touch and presenting the opportunity as a business opportunity.
Benefit #4: Increase company valuation through patents and IPs
Manufacturers and inventors are placing increasing value on intellectual property. This includes patents, designs, and trademarks. These assets can be used to their full potential, which can increase company valuation. These assets will not only ensure that the creations of your company are not copied but also build your company’s brand reputation. A patent can give your company an advantage over its competitors and enhance its reputation as a forward-thinking organization.
Patents are a great way for companies to increase their corporate financing. They can also be a valuable source of competitive intelligence. Patents are not only valuable for providing information but can also protect intellectual property. If used properly, patents can be useful in M&A as well as the steering of R&D programs. In addition, patent knowledge can help in the negotiation of deals.
Benefit #5: Patent Helps Your Business Grow
A patent can be a boon for any company. Apple is an example of how patents can help increase market share and margins. Apple doesn’t have the biggest factories anywhere in the world and does not hold the majority of the smartphone market. However, it still makes a significant portion of the market’s profit because its people were quick to patent everything. Patent legal guidance has not been available to every company, but Apple isn’t the only one. Many other companies, such as family businesses or giants like Amazon, rely on patent protection in order to grow their businesses. If your invention is widely used, you can make a lot.
A patent gives your business legitimacy and establishes your uniqueness. A patent will protect your business from competitors copying your ideas, increasing brand recognition and sales. In addition, it can protect your investment in R&D or product development.
Disadvantages of Patents
While patents are often praised for their benefits, there are also costs and the disclosure of private information. Below are the main disadvantages.
- Certain technical details of your invention must be made public in order to qualify for patent applications. Patents could allow you to discover more about your business from competitors.
- A granted patent can take up to 4 years. You may not receive your patent in time because markets may change or new technology may become available.
- Cost – No matter how successful or unsuccessful you are, it will cost money. It can be expensive to search for prior art, pay a patent attorney, and do novelty searches. In addition, some patents are not financially viable unless you license the invention or actively use the invention.
- Failure to pay the annual fee, your patent will expire.
- It is crucial to be ready to defend your patent. Unfortunately, it can be expensive to pursue infringers. Patents, however, can be used to deter infringers and make defense unnecessary.
What Are the 3 Types of Patents?
A patent is a right to property that is granted by a sovereign. A patent in the United States can be granted for a design, invention, or process. Utility patents are for new varieties of plants and last 15 years. They may also be used to protect improvements made to an already patented plant. Utility patents generally cover the most commonly used types of inventions. According to Statista, the USPTO had 650,000 patent applications in 2020.
Next, we will discuss the most powerful and most popular types of patents:
Type #1: Utility Patents
A utility patent is a patent that covers the creation of a new or improved and useful product, process, or machine. The average utility patent lasts for 20 years after the date of its first claimed priority.
The USPTO is in charge of the examination of inventions in the US. A utility patent application can be filed. Examiners will examine the claims and determine if the invention is novel, useful, or not obvious. To clarify, he requirements for patentability must be met. The inventor is granted a utility patent after the application has been successfully examined. The patent expires if the applicant fails to pay the maintenance fees.
Let’s first discuss the interplay of utility and provisional applications. A provisional patent application is a quick way to get patent-pending status. Although this type of application doesn’t require you to apply for a patent in its entirety, it provides protection for 12 months. Within the 12-month period, you must file a corresponding utility request claiming priority over the provisional. If you file for the same device from another person after your provisional patent expires, you lose all rights to it because you cannot claim priority under the expired provisional.
Utility patents can be filed to protect composition, process, the machine, tool, or upgrade to an invention. Edison’s utility patent for the light bulb is a great example. Edison had aspirations to light entire cities. Edison secured financial backing and assembled a team consisting of talented scientists and technicians to assist him in creating an electric lamp that was affordable and efficient. Below is the patented bulb that he created.
Type #2: Design Patents
A design patent protects the appearance of a product. This patent is not like a utility patent and can be granted to any individual or company. The functions of a product are not covered by a design patent. It protects only the appearance of a tangible item.
Design patents are used to protect ornamental and nonfunctional aesthetic aspects of inventions or the appearance or form of inventions. Design patent applications could be used to cover the nonfunctional design of a computer mouse. However, it must not be obvious or new. Apple iPhone design patents are an example of a design patent that has been subject to extensive litigation. Apple’s D593,087 patent protects the home button on the three first iPhone models. The D604,305 patent covers iOS’ icon grid. The jury in favor of Apple decided these cases, and Samsung settled the case.
USPTO requires applicants to submit detailed drawings and clear forms for design patent applications. There is no standard form. This includes multiple angles. In certain instances, black-and white photographs may be used in place of drawings. This is only possible when drawings are not sufficient to show the invention. Design patents are valid for 15 years without maintenance fees.
Type #3: Plant Patents
The USPTO grants patents for plant inventions to inventors who have created or reproduced a new variety of plants. The “asexually reproduced” new variety cannot be derived from a seed. Instead, it must have been created through another process, such as grafting, budding, or rooting. The plant must also be original, not be found anywhere else in the world.
A plant application usually contains descriptive text about the new variety. Images of the plant can be used to give a visual understanding of this new variety. Next, we’ll discuss the information required to register a Patent.
How Do You Register a Patent?
A patent is a unique document that describes an invention. It also includes claims and specifications. You can usually search for prior art in your field, including publications and patents. In addition, you can search for older developments in your field in publications and on the Internet if there are no applicable patents. This will help you determine the relative value of your invention to other works. You must use an Invention Disclosure Statement form (IDS) to disclose prior art related to your invention when you file a utility patent request.
After identifying potential novelty points, it is important to document the invention in an application. This should comprise a detailed description of the invention and supporting claims. An applicant can revise the claim language during the examination to highlight differences between the claimed technology and his/her invention. This is called patent prosecution. It is crucial to ensure that the patent issued is valid. A utility patent grants the inventor the right to sell and make use of his or her invention.
It can take many years to file a utility patent application. Therefore, a provisional patent application can be considered temporary but is not subject to examination. This begins the formal examination of your invention.
The following elements should be included in a complete utility patent registration application that is not provisional:
- Transmittal Form or Transmittal Letter
- Application Data Sheet (see 37 CFR, SS 1.76)
- Specification (with at most one claim)
- Drawings (when needed)
- Executed Oath, or Declaration
- Listing of the Nucleotide/Amino Acid Sequence or Large Tables or Computer Listings (when needed)
After receiving your application, the USPTO will search the database for prior inventions. Your invention must be original, not obvious, and superior to the prior art in order to obtain a patent.
A utility patent registration is a method of protecting and treating different types of products and materials in the United States. A utility patent can be used to cover many subjects. Therefore, it is important to file the USPTO’s earliest application as soon as possible. For any invention, a valid utility patent application must be filed. Patents will protect your invention and grant you exclusive rights to market it.
A traditional way to prepare a patent application is by buying books and learning how to make it. Although this is the most affordable, it can be time-consuming and may not accurately diagnose your writing.
A patent attorney is another option. A patent attorney is highly experienced and can increase your chances of getting past rejections or objections from the Patent Office. However, they may not be able to spend as much time as you would like due to the fact that their hourly rates are between $500-1500.
Below is an example of how PatentPC AI can be used to create the first draft in just minutes.
This hybrid approach uses AI to create first drafts that you then send to professionals to be reviewed. PatentPC can create a utility draft in just minutes. This system uses AI to generate text that you can review and improve. We recommend that you review the document and send it to a lawyer to finish it off. A great first draft can be sent to a lawyer to save money. Also, having a lawyer review it and file it will improve your chances of getting an allowance.
The steps are detailed in the video https://vimeo.com/manage/videos/641021751 and includes:
The utility application will include a description, abstract and drawings. We will use PatentPC to create a utility application. This example is based on a hypothetical situation in which you invented the hamburger.
The resulting utility patent registration process includes a description, abstract, or drawings. To illustrate how you can apply PatentPC to create your utility application, we will go through an example using a made up situation where you invented the hamburger.
Step #1: Describe the Problem Being Solved
Once you have discovered the problem, you can identify the resources required to solve it. The strategy must be able to solve the problem from its root but also address the seriousness of the problem. The next step after identifying the problem is to describe the solution to the Problem. This will help you to achieve a successful outcome. The problem in the hamburger example could be the need to cut down on time at restaurants. Restaurant food can also be expensive. Different foods can have different qualities and consistency.
Step #2: Describe a Brief Summary of Your Solution
After identifying the problem, you can then describe your solution. This includes your preferred implementation, evaluation, and selection of alternative solutions. A brief description of your implementation is a good idea. A paragraph explaining why your solution is superior to existing solutions may be helpful. The hamburger example may describe a food item with a patty between the top and bottom buns with different ingredients. You might also want to talk about the benefits of the hamburger, such as its convenience and cost-effectiveness.
Step #3: Upload a series of Drawings Illustrating Your Solution
Once you have given a brief overview of how your invention works, it is time to create drawings that show the operation of your solution. These drawings should show the functions and parts of your invention. These drawings should be submitted to the PTO and the designer for further consideration. If your invention is complicated, you can hire a designer for professional-looking 2D and 3D drawings.
Although it is unnecessary, you might consider hiring a professional to create professional patent drawings. This will show the PTO examiner and your investors/customers that you are a professional. It may also give you the advantage necessary to get the case approved. After you have completed the drawings, annotate any major sections. Once you’re done, the AI will generate draft text that you can review within minutes.
Step #4: Let AI do the 1st Draft for you
AI and text generation guided through the background, summary, and drawing parts are significant advances in patent drafting. PatentPC’s AI uses various AI techniques, including deep learning and a knowledge engine. AI programs can make deductions about concepts using knowledge representation. This involves the creation, representation, and implementation of ontology systems. In addition, AI programs can infer the world using ontology. This can be used to help artificial intelligence improve patent writing and translation systems.
How Much Does it Cost For patent registration?
Getting a patent can get expensive. Lawyer-drafted patent applications cost can run between $5,000 and $18,000, depending on which law firm you use. The cost of the first draft is $3,495. The preparation cost is not as high if you read books and do all the work yourself. There is, however, a hidden cost to your time. The patent office also charges filing fees in addition to the preparation cost.
Now Over to You
No matter what industry you are in, you must protect your technology, paid for with research and development investments. Patenting is one of the best and most effective ways to make sure you reap the benefits of your investment. Get your patents now with PatentPC and protect your unicorn ideas.