Protect Your Invention
The most common reason people apply for a patent is to protect their idea from others exploiting it. That of course, is an incredibly powerful reason to do so and we have it at the top of our list below. But there’s actually a number of other reasons to get a patent that may be just as important. Here’s our top five:
1. Exclusive Rights.
Patents provide you with an exclusive right to prevent or stop others from commercially exploiting an invention. This right can be binding for twenty years from the date of filing of the patent application.
2. Return On Investments.
Having invested a considerable amount of money and time in developing innovative products, through exclusive patent rights, you may be able to establish yourself in the market as the pre-eminent player and to obtain higher returns on investments.
3. Opportunity To License Or Sell The Invention.
If you choose not to exploit the patent yourself, you may sell it or license the commercialization of the patented invention to another enterprise, which could then be a source of income for your company.
4. Increase In Negotiating Power.
If your company is in the process of acquiring the rights to use the patents of another enterprise through a licensing contract, your patent portfolio will enhance your bargaining power. That is to say, your patents may prove to be of considerable interest to the enterprise with which you are negotiating, and you could enter into a cross-licensing arrangement where, simply put, your enterprise and the other agree to license respective patents to each other.
5. Positive image for your enterprise.
Business partners, investors and shareholders may perceive patent portfolios as a demonstration of the high level of expertise, specialization, and technological capacity within your company. This may prove useful for raising funds, finding business partners and raising your company’s market value.
Let’s Talk About Your Invention
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Whether you are at the initial starting stage, or trying to protect and enforce what you’ve already have, we can help patent and protect your idea or invention. Reach out to us today. We will quickly set up a time to discuss your intellectual property with an experienced patent attorney.
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Patent FAQs
Here’s a list of the most frequently asked questions about patents. Open each to see our pages dedicated to that topic.
How long does it take to get a patent in Chicago?
The timeline varies depending on the type of patent and the USPTO’s backlog. On average, utility patents take 1-3 years, while design patents are typically processed faster.
What is the cost of filing a patent?
Patent costs vary based on complexity. A utility patent can range from $5,000 to $15,000+, including USPTO and attorney fees. Design patents generally cost less.
Can I enforce my patent if someone infringes on it?
Yes, patent owners can legally enforce their rights and may file lawsuits in federal court for injunctions or damages. A patent attorney can help navigate the process.
What is the difference between utility and design patents?
- Utility Patents protect the functionality of an invention (valid for 20 years).
- Design Patents protect the appearance (valid for 15 years).
Do I need a patent attorney to file a patent?
While not required, working with a patent attorney significantly improves your chances of success, ensuring a strong, well-drafted application and USPTO compliance.
How do I check if my invention is already patented?
A patent search helps determine if an idea is novel. You can search the USPTO database, but a comprehensive attorney-conducted search provides the most reliable results.
Experienced Patent Attorneys
The attorneys at the Law Offices of Konrad Sherinian have extensive experience in patent matters. We’ve helped clients obtain numerous patents, including more difficult categories such as software, electronics, and the mechanical arts. We have obtained numerous patents in the United States and throughout the world. In addition, we have litigated patent cases on behalf of both plaintiffs and defendants in District Courts throughout the United States.
