7 Things Innovators Should Know About Patents

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7 Things Innovators Should Know About Patents
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1. Timing to file a provisional patent application

• One common mistake innovators make is filing
  their provisional patent too early.
• The patent office will only include parts of your
  invention that have been mentioned in the
  application.

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2. Patenting does not guarantee money

• There is a misconception between the direct
  relation between a patent and massive revenue.
• The fact is, irrespective of how exceptional your
  innovation is, it should precisely impact society
  as a whole. That too for societys benefit.

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3. Market relevance

• The higher degree of relevance between your
  patent and the market, the higher the chances of
  success. Innovators need to analyze factors that
  help assure a return on investment for
  prospective investors.
• Research on the current industry trends with
  concepts related to your innovation. Also, study
  the breadth of your invention and maximum
  possible applications in the industry.

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4. Everything cannot be patented

• Innovators should ensure that they are aware of
  whether or not their creation can be accepted as
  a patent. Anything related to the laws of nature,
  vague concepts, natural elements, unjustified
  theories, etc. will not be accepted as a patent.
• The three core elements for a patent to stand a
  chance for successful registration is its
  usefulness, novelty, and non-vagueness.

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5. Clearly establish who is an author,
contributor, and the core innovator

• Several innovations are documented and studied in
  the form of research papers over the world.
• The author, editor, and publisher must be clearly
  differentiated from the innovator of the idea.

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6. Patenting is a time-consuming and financially
heavy process

• When an innovator submits a patent application,
  there is ample of information pertaining to the
  initial, developmental, and final stages of the
  innovation that needs to be transcribed and
  provided.
• This process requires a lot of back and forth.

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7. Patenting laws and processes vary from country
to country

• Each country has its own set of rules,
  requirements, and specifications with respect to
  patent laws.
• This means if your innovation aims to tap into
  global markets, a detailed and thorough pipeline
  of research must be followed to abide by the
  patenting guidelines of varied countries..

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