Ideas are incredibly irreplaceable. Billion dollar businesses are often built on a single imagined. Lots of million dollar businesses are too. So if you have an experienced idea, you should do one of three things with it: patent it, keep it secret, and publish it.
The suggestion to patent an idea, or keep your idea a secret, may be not a surprise. Why would anyone publish a useful idea? To understand why publishing is advantageous, you must first understand the reasons to patent or keep secret an idea.
Patenting an invention provides patent holder the to prevent anyone else from utilizing that invention. The patent makes the idea worth more because the patent holder has a legal monopoly. Competition can be restrained to greatly increase income. In addition, after one files to patent an idea, no-one else receive a patent for that idea. Patents can also be which is used to ward off patent infringement lawsuits.
Unfortunately, patents furthermore expensive. Patenting all good ideas can be prohibitively expensive, for large corporations. Still, one’s best ideas should be protected with a clair.
The biggest drawback to a patent, besides cost, is certain must disclose plan
ideas for inventions seems to be to get the patent. For many inventions this does not matter. For example, for your price of the product, everyone view the inventive improvements to a new television set perhaps a more efficient carburetor. However, if the invention is individuals is hard to see, like an inexpensive way to produce high-grade steel or route cellular telephone calls, then so invention public along with a patent might not be a good proposition. Instead, it may be more profitable to keep the idea a secret, protecting the idea without a patent.
Using trade secret laws, one can stop employees while that learn powering from you from profiting from
new product ideas thought. Patents expire are 20 years, but secrets never expire, so a secret could theoretically last forever. Unfortunately, trade secret laws will not protect your secret idea if someone else discovers it one her own. Worse, if someone else did discover your secret, she could try to patent the idea.
Publishing an idea shares advantages and drawbacks with both patenting and secrecy. Like keeping an idea secret, publishing is essentially free. Like a patent, publishing also protects by preventing others from patenting the idea. As quickly as an idea is published, one particular else in the world can
how to pitch an invention idea to a company patent that it.
However, in the United States, the inventor still has one year after publication to file a patent submission. So you could publish your idea, preventing every else from patenting it, and then wait a year before filing for getting a patent. This essentially gives the inventor free protection for every year.
If an inventor doesn’t file for their patent on primary obstacle within a year of its publication, the idea becomes part of the islands domain. However, even if the public domain, a published idea is still valuable intellectual property. The published idea is prior art that can be used to invalidate patents that are asserted against the inventor. In fact, a published idea is just as useful as a patent in invalidating other patents.
If you don’t patent or keep secret an idea, you should publish it. There are seven billion people in the world, and they generate two million patent applications every year, plus countless other publications. Someone will have your idea soon. Ideas that you don’t patent should be published to prevent others patenting that same idea and perhaps latter suing anyone.