There’s a few critical steps to quickly patent a novel invention and sell it. Obtaining a patent application is a great way to secure exclusive production, manufacturing, and distribution rights over novel inventions or ideas. When inventors come up with a profitable idea, they absolutely need a patent before they can start selling. Ultimately, drafting, filing, and prosecuting a patent application can sometimes be a complex, frustrating process, especially when time is of the essence. This means novel inventors, like yourself, should know what can be done to effectively streamline the entire process. To get started now, read on to learn how to patent an invention and sell it quickly.
Get A Patent Search
Before you move any further, you need to get a professional patent search. An accurate patent search helps you reduce redundant research, lower the risk of infringements, and gain deeper insights into competitor activities. At the same time, it helps you seriously accelerate the time to commercialization and monetization. Essentially, these basic searches clearly examine all similar prior art references, which may be comparable to your novel idea. This will give you a much better estimate of your invention’s patentability, or the likelihood that your application will be granted. To request services today, start off by reaching out to your local certified patent search company. Certainly, get a formal search to patent an invention and sell it quickly.
Determine What You Need
Next, you’ll need to get a clearer understanding of what you actually need. This is crucial when you patent an invention and sell it. To start, you’ll probably need a provisional patent application, also known as a PPA. This gives you a one-year “Patent Pending” status, while you are able to fully investigate the feasibility of IP protection. After this pendency expires, you’ll be faced with opting for a design or utility patent. Design applications are primarily for inventors looking to protect their product’s unique visual characteristics or ornamental appearance. Utility patents, on the other hand, protect the actual functionality and core operations of your unique idea.
Secure Your Application
With the help of your licensed utility patent agent Chicago, it is time to secure your IP application. To get your application filed quickly, your agent will work directly with the United States Patent and Trademark Office (USPTO). Fortunately, submission is one of the easiest steps in the process. After all, all the hard work related to drafting, filing, and preparing your application is already complete. Now, you just need to submit the documents and await response from the US Patent Office. Indeed, securing an application is crucial when patenting an invention to sell it.
Start Selling Your Product
Now, you are officially ready to start selling your patented invention. Start off by collecting as much information as possible. The more information you’re armed with, the better. Take time to ensure you know your market and have explored various different options for production. If you are struggling, it may help to get feedback from focus groups, friends, and key business stakeholders. Once everything checks out, start working on a divisive marketing strategy to reach your prospective targets. Surely, after you patent an invention it is time to start selling.
Think About Selling Your Patent
After you’ve had plenty of time to sell your invention, think about selling your patent application as well. Patent monetization is fairly common nowadays. Even more, you have several options to go about these revenue strategies. Some, in fact, don’t even require you to give up your valuable IP. For example, you can simply choose to license out your usage rights for a profit. This allows other interested parties to potentially use, sell, make, or import your novel idea. With this option, you’ll still retain intellectual property ownership. Instead, you get to collect regular royalty payments, which are tied into product sales. Of course, you can always choose to sell your patent outright. Just take the money and run. If you do choose this option, however, be sure to consult with your patent attorney in San Diego. This way, you’ll know exactly how much to sell for, as well as how to conduct an IP transaction securely.
There are a few major steps to successfully patent an invention and start selling it quickly. First off, get a professional patent search. Then, take some time to think about what you really need. Once this is all done, it is finally time to secure your patent application. At this point, it is time to start marketing, advertising, and distributing your idea for profit. Now, you are ready to think about selling or licensing your existing IP. Follow the points highlighted above to learn how to patent an invention and sell it quickly.