#1 Keep it Secret!
Invention is exciting. When it happens, it’s human nature to want to share the excitement and to put the idea out there to see what other people think. Unfortunately, many valuable rights can be lost when you go public with ideas. Generally speaking:
- without patent and/or design protection, others are allowed to copy many new products and/or processes; and
- to obtain valid patent and/or design protection, the idea has to be kept secret until an initial application for protection is filed.
Fortunately Australia, the US and Canada have 12 month grace periods that may save you if you’ve let the cat out of the bag too early.
#2 Get some real information
It’s impossible to make a good decision without the right information at hand. Unfortunately, there are many intellectual property myths that just don’t seem to go away. There’s no reason to be trapped by this faulty information when it’s so easy to get quality advice. Pick up the phone to a patent attorney. Any reputable attorney will be happy to have a brief conversation without charge and to give you an overview of the process and the applicable costs.
#3 Put together a business plan
Contrary to popular belief, the world will not beat a path to your door simply because you build a better mousetrap. More likely, you’ll need to beat a path to the world. Working out a business plan, and whether the patent system is part of that plan, is an important step to success. -> more
#4 Find the right patent attorney
If you decide that patent protection is part of the plan, the right patent attorney (not be confused with a patent lawyer) can make all the difference. Not all attorneys are created equal.
It’s important to find someone you get along with. Usually you’re starting a new long-term business relationship. Obtaining a patent can take a long time. Whilst the process can be expedited, there are good reasons not to, so it’s usual to let the process follow its normal course.
#5 Be proactive to minimise cost
Once you’ve set the process in train, don’t just sit back and let it happen. Taking an active interest in your patent portfolio and providing your attorney with timely, clear and comprehensive instructions will undoubtedly minimise the applicable costs.
Want to find out more about hos to how to minimise patent costs? Click here-> more
Kizzi Nkwocha is the editor of My Entrepreneur Magazine and publisher of The UK Newspaper, The Property Investor and Gold, Oil and Diamonds, the net’s fastest growing wealth creation publication. Kizzi Nkwocha made his mark in the UK as a publicist, journalist and social media pioneer. As a widely respected and successful media consultant he has represented a diverse range of clients including the King of Uganda, and Amnesty International. Nkwocha has also become a well-known personality on both radio and television. He has been the focus of a Channel 4 documentary on publicity and has hosted his own talk show, London Line, on Sky TV. He has also produced and presented both radio and TV shows in Cyprus and Spain.