Now that you have that business product or idea at hand, are you set with right legal ownership rights? If not, then you need to secure it from the risk of being stolen by another party. With a patent, all this is possible.
“Basically, a patent is a legal act that protects one’s new invention, idea, or a product from being repossessed illegally by another person without the owner’s consent,” said Issa Asad Florida businessman and entrepreneur since 1996. Mr. Asad is also the author of 4 e-books and the CEO of Q Link Wireless and Quadrant Holdings, located across South Florida. “However, before an idea becomes viable for the cover, it has to meet some criteria.”
Mr. Asad believes that in order for an idea to be patented, it must be unique (there should be no other related and existing concept or art globally), have a unique inventive channel (the inventive step should be purely the owner’s idea), and it should be able to be implemented. Conversely, the whole process of securing the patent rights might be intimidating; individuals therefore have to abreast with the correct channels to do it right. Here are 3 tips for patenting your business product or idea.
1. Carry Out Ample Research
This is among the most vital aspect not to neglect. How certain are you that there is no other idea similar to yours in the market? I’m sure you wouldn’t find it pleasing to put much focus into an invention only to find out later that a similar idea prototype is already in existence. First one may start the search in online portals to see if there is a possibility of its replica. Then, have a worldwide licensing search for the same; chances are, you might have missed it on the internet but it might be present in the global patent list. To be on a safe side, go for a professional and certified Intellectual Property Office services to help you with the search before spending any amount on the project. If the search proves that the idea is originally yours, you’d be set for the next step.
2. Seek a Patent Attorney or an Expert’s Services
For the application process, it would be much easier and secure to opt for an expert in the field familiar with the registration process. It’s not just about writing the application as required only that the personnel can help the client with; they may also be in a position to offer legal support in case another party allegedly duplicates the same idea in future. If done individually, the accused’ lawyers might look for holes in your patent application to win the case in their client’s favor. Let the attorneys get you covered from this.
3. Secure Critical Information
It will be inappropriate for one to disclose crucial information about an invented art prior the completion of the licensing process. In this aspect, ensure that the information is only revealed to relevant persons or groups that might be helping with the development process of the project. Most importantly, ensure you secure a Non Disclosure Agreement (NDA), to protect you from losing your trademark or product. Leave nothing to chance by keeping the critical information to yourself.
Securing the ownership rights of a new business product or idea requires a series of steps that have to be approached with a strategic and tactful approach to achieve it effectively. In the question of how to do it right, the above list has the best 3 tips for patenting your business product or idea.
