Patents give their owners control over their invention. These valuable assets provide a competitive advantage. Beyond this, a strong patent portfolio can reassure investors and increase margins, and using your patents strategically can improve your bottom line.
Patents protect inventions that are new, useful, and offer a significant improvement over what already exists. You can secure patent protection for a product, a process, or an improvement of these. The length of patent protection lasts, in general, up to 20 years, after which the invention can be used by anyone. A similar right, called utility models, can be easier and cheaper to obtain, but typically offers protection for a shorter period of time.
The process starts with drafting a patent application. This technical document describes your invention and the legal protection you will secure. A skilled patent professional can support you in this process.
Once the application is drafted, you will need to file it with a patent office. Remember to apply for patents in each country or region where you want protection. You may consider using the Patent Cooperation Treaty (PCT) to file in multiple countries or regions at the same time.
In many patent offices, your patent application will be published and examined. During examination, the patent office will check whether your patent meets local legal requirements. You may have the opportunity to argue with what the patent office finds or change your application.
If your application is successful, you will be granted a patent. Often, you will need to pay a fee at this stage to secure protection.
To enjoy the full term of a patent’s protection, many countries will require you to renew your application or granted patent. This usually involves paying a fee on an annual or semi-annual basis.
Patent rights require significant investment of financial resources, with costs incurred in each country or region you want protection. The costs vary by country. They include:
It is up to you, as the patent owner, to monitor if others are using your invention. If you decide to enforce your patent, some steps you may take:
Ready to apply for a patent? Explore more abouthow to obtain a patent in your country and abroad.
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Want to sharpen help inventors drafting inventions? Consider the WIPO
Patent Drafting Program
and check our WIPO