Your firm has established an actually great brand-new product. Should you apply for a patent, and should you trademark the product's name? Like so several other things in life, business, marital relationship and sports, it depends.
License a New Product? You can just patent the advancement that went into developing that item or solution.
1. Defense and Exclusivity: First and primary, getting a patent for your innovation prevents rivals from utilizing it to produce similar or similar items. For instance, when Post-it notes came out, 3M had patented the innovation behind them, which offered 3M an important monopoly for years. Understand, nonetheless, that the US Patent Office concerns patents; they do not apply them. So if a business infringes on your license, you will have to protect your license with civil Excited.
2. Added Revenue: You can accredit your license to various other services. While it possibly does not make sense to accredit your patent to a direct rival, you can license it to business in various other industries and how to get something patented with InventHelp produce a good income stream. If the item that utilizes the innovation is not producing the preferred sales or revenues for your organization, you can after that license the patent - and even offer the license - to generate profits from it.
3. Better Safe than Sorry: If you do NOT get a license, and 2 or 3 years later on you find that a firm is utilizing your advancement to produce a services or product, you may regret not patenting the innovation when you had the chance to do so.
If the license lawyer or patent agent believes your development can be patented, he will aid you through the patent application process. A patent lawyer is a lawyer that specializes in what's called "license prosecution," the procedure of using for and also getting a patent. To discover a patent agent or license lawyer, utilize our cost-free Patent Agent and also Patent Attorney Referral Service.
Safeguarding Your Innovation: As soon as you have requested a license, you ought to use the term "Patent Pending" in your sales literature and description of the product. Doing so will basically mark your lawn, and also it may dissuade competitors from copying your product.
Hallmark a New Product? Equally as you can not patent an item - you can only patent the innovation behind the product you can not hallmark an item: You can just hallmark the name (or brand) of the item. If your brand-new product has an unique name to recognize it, you need to absolutely look for a trademark if for no other reason than to stop rivals from confusing clients as well as stealing sales from you by using the same or a similar item recognition for their completing product.
If you just call your new item the Model FHJ-604, then no hallmark is truly needed. If, nonetheless, you've created a name that is unique as well as memorable, (the Die Hard ® battery from Sears is an example), you need to definitely safeguard your brand-new and cutting-edge item recognition.
Consult with a hallmark lawyer, and also if he thinks your brand name or product name can be trademarked, obtain the trademark. When the US Patent and also Trademark Office issues you a hallmark, it will be a signed up trademark, so you will after that place a " ® "after the brand.
License versus Trademark: While both licenses and trademarks are released by the United States Patent and also Trademark Office, they are actually unrelated. A product's innovation can be patented while the item's name is not trademarked. Or the product name can be trademarked while the product's modern technology is not patented.
If your product uses a special technology, patenting your invention makes sense. If you came up with a marketable name for your new product, trademarking the name makes good sense. Yet both issues need to be thought about separately.
It is worth a couple of hundred dollars to have a patent attorney or patent agent appearance at your innovation as well as identify if it is worth applying for a license. If the license attorney or patent representative thinks your development can be patented, he will certainly aid you via the patent application procedure. A license attorney is an attorney who specializes in what's called "license prosecution," the process of applying for and also obtaining a license. To locate a patent agent or patent attorney, utilize our cost-free Patent Agent and also Patent Attorney Referral Service.
Patent versus Trademark: While both licenses and also hallmarks are released by the United States Patent and also Trademark Office, they are really unassociated.