It is obvious that with every new innovation, there are always companies waiting in the wings to copy that idea and make money on it. If this is to be avoided, it will be necessary to lodge that idea so that no one can steal the plan or idea before the owner brings it to the market. For a list of available experts, look for “patent marketing services” on the internet which should give you some idea of what is available.
Making use of a patent marketing service enables you to draw up a draft of the plan or idea in such a way that it is obvious that no one else has thought of the idea yet. This is not an easy task as the draft may have to be redone several times before it is accepted for registering. Even they do not necessarily get their qualifications the first time that they sit for them, and since this training is expensive, they will surely pass this cost on to the consumer who needs their services.
As an example of this, the first draft which is registered, if it is a simple one, starts at around seven thousand dollars. To maintain it, the fees will come into play about three and a half years after the first registration. But the goodness of doing all this is that it will be protected for about seventeen years which means that the one who thought it up will not lose out. If the idea hits big time as they often do, they could stand to make millions out of the idea so it must be protected at all costs. Even famous logos are now protected to prevent others from manufacturing products and then establishing that brand. Of course, the originating company could stand to lose many millions, and get a bad reputation to boot if the goods are substandard, over the course of a year or two. Once the copyright has been registered, the company can sue anyone who tries to influence their product. The public is also protected to some extent because the resulting publicity will surely warn anyone who pays attention to these fakes and avoids them, as they can even be unsafe.
For those people who think that they are wise enough to work this kind of paper out for themselves, they may want to reconsider. Because it is a complicated way of registering, any mistakes that they make may give the competition a loophole to produce the same goods but with some slight changes. Then they will not have to pay even the license fee to the owner of the idea, and they will get away with it quite cheaply. So anyone who has found a great idea or product, or developed it over some years, should have the good sense to get it registered as soon as possible. Those who delay, or take a risk, will often end up losing out on something that they may have worked very hard for.
What a Patent Marketing Plan Provides
A marketing plan will help guide you through the large project ahead of you. The process of selling your invention idea is long and can often be frightening, but a marketing plan can help you feel more secure and less overwhelmed. Due to the relatively long sale process of your invention, a marketing plan will keep you on the right track.
Like a business plan, a patent marketing plan will act as a way of convincing companies to invest in an invention. Your marketing plan will be a means to show the research you want to create to the companies to which you want to sell your patent. The research provides evidence of how your invention fits into the market and generates profits. Companies will often be interested in how your product fits into their business, and an explanation of this can also be included in a patent marketing plan.
Selling your invention is an entrepreneurial process that most inventors are probably not familiar with, and a marketing plan can simplify the business process. Research and analyzes can reveal what companies you should approach to potentially do business with. By knowing which companies make similar products, you can identify many of the factors that determine the success of your product.
What a Patent Marketing Plan Should Include:
The first thing that should be included in a marketing plan is the executive summary. As its name implies, this is a summary of everything in your marketing plan.
Product and Market Analysis
The next section more specifically explains and analyzes the product description and the competition and target market analysis. You may choose to break down your product design by describing the advantages of its size, weight, classification, materials, shape, color, etc.
The last section is your marketing plan, which describes the series of steps you must follow to succeed with your invention. This should incorporate the interests of the manufacturer and how they will be involved. You should also include a list of companies that may be interested in buying your patented invention and how it will expand your business. You should outline any unique steps you would have to to get your product to the market.
Time and Cost of a Patent
The average time to get a patent depends upon the type of patent you want. There are design patents and utility patents. The design patents are easier to obtain and therefore are shorter in time and less expensive. The utility patents need to have the claims that you are asking to be explained to distinguish your idea from others. These are what enable the patent office to say that the concept is unique and worthy of a patent. They take about two years to finalize. Part of the reason for the lengthy process is the overload of applications the patent office receives. The cost to have a lawyer apply and finalize a patent varies depending upon whether it is a design patent or utility patent. A design patent can range from $500 to $800, and a utility patent can range from $5,000 to $20,000, depending upon the complexity of the concept.