http://smallbusiness.blogs.cnnmoney.cnn.com/2008/01/04/how-patenting-protects-your-inventions/ Editors from FSB magazine answer your pressing small-business questions. Tue, 15 Dec 2009 12:52:55 +0000 http://wordpress.com/ hourly 1 http://smallbusiness.blogs.cnnmoney.cnn.com/2008/01/04/how-patenting-protects-your-inventions/#comment-283 Jose Jimenez, Esq., Minnetonka, MN Mon, 07 Jan 2008 20:16:03 +0000 http://askfsb.blogs.fsb.cnn.com/2008/01/04/how-patenting-protects-your-inventions/#comment-283 One simple and inexpensive solution is to file a provisional patent application with the Patent Office. The inventor can prepare and file it themselves for under $200 and it will provide a worldwide filing date for up to one year. This creates an asset that can be licensed or sold while giving the inventor about 8-10 months to prove out the concept and secure financing for their concept. The main caveat is that the written description needs to be sufficiently complete with drawings to ensure that it meets US and Foreign legal requirements. One simple and inexpensive solution is to file a provisional patent application with the Patent Office. The inventor can prepare and file it themselves for under $200 and it will provide a worldwide filing date for up to one year. This creates an asset that can be licensed or sold while giving the inventor about 8-10 months to prove out the concept and secure financing for their concept. The main caveat is that the written description needs to be sufficiently complete with drawings to ensure that it meets US and Foreign legal requirements.

]]> http://smallbusiness.blogs.cnnmoney.cnn.com/2008/01/04/how-patenting-protects-your-inventions/#comment-282 Dilip P.Pandya, San Jose, CA Mon, 07 Jan 2008 19:25:38 +0000 http://askfsb.blogs.fsb.cnn.com/2008/01/04/how-patenting-protects-your-inventions/#comment-282 A a former examiner, and manager of patent searching at USPTO, I would always recommed starting with a good patent search. Use a PTDL Library if one is available in your area to keep your costs down. Also, think about building a portfolio of patents instead of a single patent. This is more valuable for future licensing. A a former examiner, and manager of patent searching at USPTO, I would always recommed starting with a good patent search. Use a PTDL Library if one is available in your area to keep your costs down. Also, think about building a portfolio of patents instead of a single patent. This is more valuable for future licensing.

]]> http://smallbusiness.blogs.cnnmoney.cnn.com/2008/01/04/how-patenting-protects-your-inventions/#comment-280 Gaurav Goel, Austin, TX Sat, 05 Jan 2008 00:44:25 +0000 http://askfsb.blogs.fsb.cnn.com/2008/01/04/how-patenting-protects-your-inventions/#comment-280 Not disclosed in the article is that no rights are conveyed until the patent is actually issued, except for the designation patent pending. You should also check the technical skills of the patent attorney or agent you will be working with. Also, you have to consider what the ultimate value of the patent is for you. If you are banking on monetizing the issued claims, then you need a very good patent attorney/agent who understands how patents are litigated and licensed. Not disclosed in the article is that no rights are conveyed until the patent is actually issued, except for the designation patent pending. You should also check the technical skills of the patent attorney or agent you will be working with. Also, you have to consider what the ultimate value of the patent is for you. If you are banking on monetizing the issued claims, then you need a very good patent attorney/agent who understands how patents are litigated and licensed.

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