The Importance of Patents
Know the Importance of Patents

Contrary to the popular belief, inspiration can strike anyone at any time for any reason. Whether it is an artist looking for a new and fresh concept or a scientist discovering the perfect blend of chemicals for a new invention, an original concept can bring a good deal of recognition, money, and legacy to the discoverer.

However, before these can happen, there are a lot of legalities that you should go through to ensure that your idea would be recognized, protected, and recorded as your own. It is just a right thing to do to protect the person who invents or discovers an idea from copycats via the use of patents and trademarks.

Nowadays, with more creators continually churning out works for business, you need to have your design patented to truly claim it as your own. Here is a guide listing the benefits of patent applications, especially for creative individuals like you.

What is a patent?

First of all, you have to gain an understanding of patents as well as the legal documents, information, and processes behind it. A patent proves the exclusive right of the individual or the inventor to commercially sell or use the invention.

The life of a patent usually lasts for 20 years, so you can use the invention in whatever business you may have, and it will be protected from the usage by the third party. Patenting allows the inventor to profit from people who may want to use the invention, which makes the patent become an incentive for inventors.

They act as an incentive because patents eliminate the free stealing of new inventions, hence making it more appealing for inventors to continue innovating and inventing useful technology. In recent years, there have been a slew of copycats and infringers who keep on imitating technology, so patents are there to ensure that these are properly dealt with.

Nevertheless, applying for a patent could be a long and tedious process; therefore you should be ready to face a long haul if you want to be able to claim an invention as your own for the next two decades. There are processing fees, security markings, application filing, and a lengthy wait for approval during your patent approval process, so be ready.

Can anything be patented?

This is the most common area where a lot of people get confused with regards to patents. As mentioned, a number of creations, from ideas or literary works to inventions of technology can be protected in different ways. You have to identify if your work falls under a patent, a copyright, or a trademark.

Patents cover inventions that relate to technology, software, or are commercially useful. Some of the examples include new products of technology or a process, methodology of creating things or medicines. This is the reason why medicines are usually patented. If they weren’t, everyone else would be selling the someone else’s product of  mental labor, just under their own name..

A copyright protects literary works, artistic creations, dramatic outputs, and musical compositions—basically everything that can be duplicated in the world of arts and music.

However, pictures, symbols, sounds, or anything that a brand or company comes up for their own advertising or marketing purposes should be registered as a trademark to prevent other corporations from adapting and stealing them. This is the reason why brands always have unique designs, logos, and even color schemes because the trademark ensures that there should not be similar designs to avoid confusion for their market.

What good will I get from applying for a patent?

The tedious patent process bears great results at the end, because there are several advantages of getting patents for a design.

The most important advantage of a patent is the patent holder’s exclusive rights to use his or her invention for commercial purpose. He or she is licensed to reproduce the technology without infringing the rights of anyone else, because that particular invention is already his to begin with. This already means a good deal of profit, especially if the software, medicine, or technology is something that is in demand in the society.

Another advantage is that the sight of a patent will scare off possible infringers. Or at least a patent should serve as a warning that an invention cannot be reproduced without the consent of the patent holder. The reproduction of patented products requires the consent of the rightful owner. As a result, often there is only one manufacturer that will be allowed to do so, and the patent holder will be entitled to a profit from sales.

In the event of patent infringement, the patent holder can take legal action and sue the infringer. When the patent holder wins the case, he or she can also get a good sum of money from the infringer.

Lastly, patents can be resold to a third party. Those who have a good record of useful inventions but may not have the proper resources to be their own manufacturers usually do this. So they have the option of licensing their patents to others and profiting from the sales.

When it comes to inventions, geniuses deserve the recognition and protection of their talents. A patent then becomes the first necessary step to make sure that they will not be cheated out of the credit and money that they deserve.

Disclaimer: It is the inventor's responsibility to research and vet companies before entering into a business relationship with any company. InventMyIdea does not provide warranties or guarantees for services offered by any company.