Has anyone told you that you absolutely need a patent to move forward in your business? Has anyone told you not to get a patent because it’s a waste of time and money? These are not rhetorical questions, I really want to know. Please leave a comment below with any patent-or-not advice you’ve heard!
If you’re an innovative business or a tech startup, there are two things you should be considered closely in order to determine whether or not you should file a patent application.
The first is determining whether or not a patent would even make sense for your business.
You’re right to be skeptical about patents given the high cost. This is all the more reason to figure it out properly. You might have not previously thought about all the benefits and costs, much less calculated them out carefully and weighed them. The IP Link has a program called “Strategize” that gives you the expertise you need to be intentional about your goals for filing a patent, objective about the downside, and confident in your decision to pursue patent protection or not.
The second thing you should consider is whether or not the patent office will accept your application or reject it once they finally get around to reviewing it. If your application does not meet the criteria for patentability, it will likely be rejected.
For example, anyone anywhere in the world has publicly disclosed a technology or product similar to yours, then your patent could be rejected. Unfortunately, you won’t find out officially whether you meet their criteria until 2-4 years into the process and $50,000 – $150,000 invested. It would be very unfortunate to be rejected after spending that kind of time and money.
If you want to learn more about our business focussed alternative approach to the patent process, join our newsletter and gain access to our free patent training webinar at:
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