Your firm has created a truly nifty brand-new product. Should you file for a license, and should you trademark the product's name? Like so several other things in life, company, marriage and also sports, it depends.
License a New Product? You can just patent the technology that went right into creating that item or solution.
1. Protection and Exclusivity: First as well as primary, getting a patent for your invention avoids rivals from using it to develop identical or comparable items. For instance, when Post-it notes came out, 3M had actually patented the technology behind them, which offered 3M a valuable monopoly for years. Understand, nevertheless, that the US Patent Office issues patents; they do not apply them. If a firm infringes on your patent, you will certainly have to defend your patent with civil litigation.
While it probably does not make feeling to accredit your license to a straight rival, you can certify it to firms in other markets and develop a wonderful income stream. If the product that utilizes the invention is not producing the preferred sales or revenues for your organization, you might then license the patent - or also sell the license - to create profits from it.
3. Better Safe than Sorry: If you do NOT apply for a patent, and two or three years later you discover that a firm is using your advancement to create a product or service, you might regret not patenting the modern technology when you had the opportunity to do so.
If the patent attorney or license representative believes your invention can be patented, he will InventHelp assist you through the patent application procedure. A license attorney is an attorney that specializes in what's called "patent prosecution," the procedure of using for and also receiving a license. To find a patent agent or patent lawyer, utilize our complimentary Patent Agent and also Patent Attorney Referral Service.
Securing Your Innovation: As quickly as you have actually applied for a license, you need to use the term "Patent Pending" in your sales literary works and also summary of the product. Doing so will essentially mark your grass, and it may inhibit rivals from duplicating your item.
Hallmark a New Product? Equally as you can not patent a product - you can just patent the advancement behind the product you can not trademark an item: You can just trademark the name (or brand) of the item. If your brand-new product has a can you patent an idea special name to recognize it, you need to definitely obtain a hallmark if for no other reason than to avoid competitors from perplexing customers and taking sales from you by using the same or a comparable product identification for their completing item.
If you simply call your new product the Model FHJ-604, then no hallmark is actually needed. If, nonetheless, you've generated a name that is unique and also remarkable, (the Die Hard ® battery from Sears is an example), you should definitely safeguard your brand-new and innovative item recognition.
Seek advice from a trademark lawyer, as well as if he believes your brand name or item name can be trademarked, obtain the trademark. When the United States Patent and also Trademark Office problems you a trademark, it will certainly be a registered hallmark, so you will after that place a " ® "after the brand.
License versus Trademark: While both patents and also trademarks are released by the US Patent as well as Trademark Office, they are actually unconnected. A product's innovation can be patented while the product's name is not trademarked. Or the product name can be trademarked while the product's innovation is not patented.
If your item uses a special technology, patenting your creation makes sense. If you developed a valuable name for your new product, trademarking the name makes good sense. Both concerns ought to be thought about independently.
It is worth a few hundred bucks to have a license attorney or license representative look at your technology and also establish if it is worth using for a patent. If the patent lawyer or patent representative believes your invention can be patented, he will certainly aid you through the patent application procedure. A license attorney is a lawyer that specializes in what's called "patent prosecution," the procedure of applying for and also getting a patent. To find a patent representative or license attorney, utilize our cost-free Patent Agent and also Patent Attorney Referral Service.
License versus Trademark: While both patents and trademarks are released by the United States Patent as well as Trademark Office, they are truly unconnected.