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Written by : Albert Ports |
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welcome back in our last video we talked about how ideas are worthless and one of the ways that you can actually make traction and action on your ideas is to get a patent there are lots of different types of patents I have six different patents I've filed provisional patents I've been sued by patent holders I've had patent trolls come after me I've deposed about patents and I'm here to tell you the pros and cons of getting a patent and what the process is if you're an inventor and you have an idea and you want to file for a patent so these are patent cubes from my work at Microsoft you can see thank you for your contribution a little bit about the patent law icon and Microsoft would give these as awards for people for what are called utility patents utility patents are the most basic type of patent and they protect a new type of idea or concept a novel way of doing something and these these particular patents are for work that I did on the Windows XP operating system there are four different types of patents utility patents are the most common the second type of patent is called a provisional patent and a provisional patent kind of hold to your place in line it prevents someone else from jumping ahead of you in taking that idea provisional patent is a lower-cost way of getting a patent the third type of patent is called a design patent in a design patent protects the design the look and feel of something it's not necessarily an invention but it protects how something looks and how something feels so you can imagine the look and feel of a particular car or a particular phone or particular shoe lots of companies that have a particular look and feel for their products will file a design patent to prevent knockoffs from being produced the last patent is called the plant patent unless you're building Audry - you don't really have to worry about that believe it baby it don't now if you're gonna file for a patent you're probably gonna want a patent lawyer filing patents is pretty complicated in terms of the documents that you need to produce the documents are formatted in a very particular way and a patent attorney whose experience with filing patents is going to save you time and money in the process that being said filing patents does tend to be expensive and patents can really rack up in terms of the cost lots of patent processes may cost tens of thousands of dollars so just be aware of some of these costs before jumping in and filing a patent now a couple ways that you can save money on filing a patent is by doing a little prep work before you go to your patent attorney so try to document what your invention does and how it does it write down your thoughts in plain English so it's easy to understand and if you're able to draw and illustrate some of them of how your invention works that's often helpful as well another way to save costs is by filing as what's called a micro entity if you're a solo independent inventor or if you're part of a very small company you can file for micro entity status and that saves you a little bit of money in terms of filing fees with a patent office the patent process itself can take a lot of back-and-forth even once you file a patent you can expect your patent to be rejected and then there's back and forth between your patent attorney and the patent examiner the entire process can often take as long as two or three years so just be prepared for a longer wait so because patents cost a lot of money and they take a lot of time it may not be the best thing for every small business so if you've truly invented something novel and unique something that's really unique and not out there then a patent may make sense it may protect your business from having knockoffs people stealing your idea but in many cases a patent can be a distraction so let's say you go through this process and you get a patent at the end of the day the patent is just a piece of paper and so the question is what do you want to do with this piece of paper there are three main strategies with patents the first is defensive patents and so with a defensive patent you really take that piece of paper and put it in a drawer you're honestly not doing anything you're keeping it there for defense if your company gets sued for some reason in the future you can go into that drawer and use that patent for defense so if someone's suing you for patent infringement you can say ah but I have this other patent it and I could sue you for patent infringement so why don't we all walk away and lots of companies have giant patent portfolios purely for defense to prevent other companies from suing them for patent infringement the other way to use a patent is for offense and that means going after other people who are infringing on your patent but be aware if that other company that you're suing and going after it has their own patent portfolio for defense a they could end up suing you back and B if they do see you back they could invalidate your patent making it completely worthless the third way to use a patent is for licensing and so if you're inventing a product or an idea and you don't actually want to build that product or idea but you want to license that invention to other companies to then go off and build that idea for you that's another way you can charge your licensing fee for your patent so depending on your company early-stage startups may not get a ton of early benefit from filing patents because using them defensively or offensively can be a real distraction to the core business small companies only have a limited set of resources so you may not want to spend those resources on either offensive patents or defensive patent portfolios if you do have a really amazing idea you can file a provisional patent and that kind of holds your place in line until you get better capitalization and more money and so that buys you a year of time to really figure out if you want to go file that full patent if you really have a unique design a unique visual approach to your product you can also file a design patent and those tend to be less expensive as well either way design patents provisional patents utility patents to help you set your company apart in terms of the design the products and the vision of what you're trying to build and I hope patents help you in your quest to build an amazing company I'm Gregg Ray's I focus on technology design and development and if you like that sort of thing hit subscribe thanks so much for joining me till the next one you
Thanks for your comment Jimmy Krawchuk, have a nice day.
- Albert Ports, Staff Member
Thanks for this interesting article
Thanks Freilifn your participation is very much appreciated
- Albert Ports
About the author
I've studied astronautics at The School of Architecture in Cosanti and I am an expert in purification. I usually feel impressed. My previous job was insurance appraiser (auto damage) I held this position for 31 years, I love talking about decorating and balafon. Huge fan of Sammy Davis Jr. I practice bowls and collect hockey cards.
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