Managing Business Responsibly

Patent Services as an Integral Aspect of the Innovation Process

by Priscilla Terry

Creating or improving a product or process necessitates both time and money. As a result, it is critical to safeguard your innovation to accrue the associated recognition and financial benefits. It can be accomplished by filing for a patent on the invention. Unfortunately, many people are unaware of patents, missing out on the receivable benefits for their innovations. A patent protects an invention by granting the owner exclusive rights to the invention. It protects the inventor from infringement by third parties. In an ideal world, you would be able to enjoy patent-related benefits without external exploitation. Unfortunately, that is not the case, confirming the importance of patent management services.

Moreover, many innovators are unaware of existing patent services, integral to safeguarding their unique products. Patent services include all efforts required to obtain, retain, and protect a patent. Additionally, patent management services may also include taking court action against infringers to receive compensation for the incurred damage or revenue losses. Patent services may also come in handy should you be sued for copyright infringement. 

Ensuring Privacy and Confidentiality

Before filing for a patent, one must ensure that their innovation's details are not disclosed to the public. Often, many innovators disclose their inventions, hoping to excite their potential markets and gain brand publicity in preparation for future product rollout. Moreover, some innovators present their ideas to venture capitalists and investors, hoping to secure funding. Unfortunately, innovators who disclose their inventions before patenting them risk losing ownership. Innovators should consider using patent services to copyright their ideas before disclosing the details to external parties. Usually, companies offering patent management services have competent professionals, including attorneys who will guide you through the patenting process. The companies have fiduciary responsibilities regarding maintaining client privacy and confidentiality. Thus, the companies will protect your innovation's details throughout the patenting process. 

Determining an Innovation's Novelty

A primary condition for patenting an idea entails novelty. It would be unethical to confer economic advantages on an invention that has existed for years. An example entails seeking patent services for the wheel, which was invented centuries ago. Thus, all inventions are usually evaluated during the patent application process to determine their novelty. Additionally, inventors who classify their ideas as open-source allow others to use and exploit their ideas without legal implications. 

Evaluating a Patent's Obviousness

Innovators may also seek patent services to determine their ideas' obviousness. It is a primary requirement that a patent should not be explicitly apparent to professionals in the craft. An example entails formulating an equation that other professionals in the field can also derive.