Invention FAQ Answers About Marketing Your Invention

Invention FAQ Answers About Marketing Your Invention

* What is​ a​ patent?

A patent is​ a​ grant that gives a​ person the​ authority to​ stop others from manufacturing,​ selling,​ using,​ or​ importing their patented invention. This authority is​ effective for twenty years from the​ patent application filing date. it​ is​ a​ contract between a​ person and the​ state in​ which he or​ she is​ permitted to​ exercise a​ restricted monopoly in​ exchange for allowing the​ invention to​ be made public.

Patent rights are territorial; that is,​ the​ patent granted in​ the​ United States does not give a​ person rights outside the​ country. This is​ also the​ case on​ patents granted to​ inventions in​ the​ United Kingdom,​ Australia,​ and other countries.

* How do I finance my invention?

In case you​ do not have personal finance resources but absolutely have the​ determinationto get your invention on​ the​ market,​ the​ best thing that you​ can do is​ to​ turn your invention into a​ commercial product.

You also have the​ option to​ ask for financial assistance from the​ federal government through the​ United States’ National Institute of​ Standards and Technology (NIST) or​ Department of​ Energy (DOE) if​ your invention is​ related to​ power generation or​ other energy-related issues.

* Are there grants available to​ help with inventions?

Yes,​ there are grants given to​ aid the​ development of​ certain inventions. There are non-profit organizations that are composed of​ wealthy individuals,​ families,​ and corporations. These people are giving cash grants every year to​ help develop inventions,​ although part of​ this "help" is​ to​ shield these people and businesses from taxes.

* is​ there other financing available to​ market my invention?

Yes,​ there are other financing and assistance programs available that will help you​ market your invention. These include tax incentives and individuals who have large investments in​ private companies.

These individuals finance the​ invention to​ develop it​ further and make it​ competitive not only in​ the​ United States but also in​ the​ international community by means of​ international invention events that take place every year.

* How do I find out if​ somebody has already the​ same idea for an​ invention?

You can have a​ patent check to​ determine if​ your idea already exists. it​ is​ done by searching all the​ existing patents listed in​ the​ Patent Office's database to​ see if​ your invention is​ already patented. it​ also includes searching printed materials such as​ catalogs,​ magazines,​ and articles. Since patent lists are now computerized,​ the​ search can now be performed by the​ click of​ a​ mouse.

* Do I need a​ patent for an​ invention?

Yes,​ you​ should patent your invention. it​ is​ looked upon from different viewpoints,​ but is​ briefly described in​ the​ following items.

- Patenting an​ invention is​ a​ one of​ the​ best ways of​ marketing it. it​ gives you​ legal grounds for establishing a​ monopoly for the​ manufacturing,​ production,​ and marketing of​ the​ invention under free market conditions.

- Without patent protection,​ others can copy your idea at​ no cost and sell the​ product at​ a​ cheaper price,​ thus generating income without asking for your permission. Also,​ they can patent your invention under their name. in​ other words,​ they can effectively steal the​ idea from you.

- a​ patent also ensures you​ of​ market position and occupying new markets.

- a​ patent is​ considered your "trademark" -- that you​ actually invented a​ device. it​ can be a​ way of​ recording your name in​ the​ history of​ technology,​ especially if​ it​ is​ now introduced in​ the​ market.

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