5 Pieces of Advice from Patent Lawyers to Inventors

Inventing is a process that requires more than just passion. There’s no secret recipe to follow to succeed in the business of inventions and innovations. But, there are some basic things that should be understood if you are going to pursue an idea of invention seriously. The journey from an idea to the invention is filled with pitfalls. An inventor may fail due to a lack of sufficient knowledge and planning. Having a plan may help you reduce costly errors. Here are a few priceless tips from patent lawyers and agents to help you in your endeavors:

Be an Expert, Not Just an Inventor

Everyone has an idea that occurs to them at some point in time. But, many people choose not to take any steps towards turning their idea into an invention. On the other hand, rushing to solve world problems by making the idea a reality will not guarantee success. There are several laws governing inventions and industries. From safety regulations to specific processes that need to be implemented, there are many legal aspects you should be aware of if you plan to invent and commercialize your product. Successful inventors achieve expertise by gaining an in-depth understanding of the field, technology, market, laws, and competition.

Treat Inventing Like a Business Plan

When you have a business idea, you evaluate the market and set a roadmap to lead you to the goal you have visualised. Approach the process of inventing in a similar way by setting goals and timelines. Analyse the commercial feasibility of your invention. The idea may seem groundbreaking to you, but it may not be the case in reality. What if you start inventing and you realize that it doesn’t seem as unique and as helpful as it seemed when you conceived the idea? If your invention has little or no commercial value, then it may not make sense to spend your valuable resources of time and money on it.

Prioritize Patent Search

You think your idea is unique, but in reality it may not. It is possible that similar inventions have been made in the past. If you are planning to obtain patents, you should consider conducting a patent search to determine the potential patentability of your invention. It is recommended that you consult with a patent agent to minimize errors in your search.

Have a Budget

Money matters. As an inventor, you may have multiple ideas in your mind and not every idea will be worth your time and money. Plus, inventing and commercializing your invention can be extremely expensive. Don’t forget that the patent process will cost you too. Account for every aspect of the process, set a budget, and constantly evaluate whether it makes sense to invest the time and money in the idea you are pursuing. This way you may be able to head off losses by only investing in profitable ideas.

Value Secrecy and Have Proof of Concept

Keeping your invention confidential is extremely vital, especially if you are going to patent it. Disclosing an invention early on is one of the biggest mistakes many inventors make. If you need to approach prospective businesses for commercialization of the invention, have a non-disclosure agreement in place. Also, maintain a file of every document regarding your invention with dates and signatures. This helps in cases of licensing and infringement.

If you want to patent your invention or seek guidance regarding the patent laws in Canada, then connect with patent agents at Prowse Chowne LLP.