2021-07-13
Many businesses build their success through their unique image, products or services. Continually innovating and creating better products and services helps bring something new to the market. When an invention has the potential to benefit a business, patents may become incredibly important.
Patents are a form of intellectual property that provides their owners with the exclusive right to make, use and sell their inventions, effectively creating exclusivity in the marketplace. Not all patents are made equal, so choosing the right one is crucial in providing the right protection for your inventions.
Our article on common intellectual property mistakes provides some basic information on things to avoid, but in this article we’ll be emphasizing the importance of filing the applicable patents for your business. There are two primary types of patents, but the spotlight today is on utility patents.
What is a Utility Patent?
Utility patent provide protection for new inventions such as machines or manufactures, processes, systems and improvements on existing inventions. The purpose of the utility patent is to protect what the invention is and the way in which the invention operates and the way in which they operate.
Utility patents also cover the widest range of inventions since it safeguards the rights of inventors who create any new machine, material, process, chemical compound, manufactured product, method, or material composition.
Whether the invention’s function is electrical, chemical, or mechanical, so long as it meets the definition mentioned above, it calls for a utility patent.
How to Get a Utility Patent
Compared to other types of intellectual property, applying for utility patents can be more demanding since there are a number of formal requirements that need to be completed. Depending on the nature of the invention and its complexity, a quality utility patent can be expensive to obtain.
A patent search can be valuable in allowing you to determine if the potential risks of not obtaining an issued patent are worth the cost of attempting to obtain one. There are several resources available to allow an individual to complete their own patent searches, however it is generally a good idea to seek the assistance of a patent agent or lawyer as they can provide insight into how a patent Examiner may react to specific references. If you move forward with a patent application, some of the requirements include:
- Provide detailed information involving the abstract, specification, and drawings of the invention. It should include information about the usefulness of your invention, define the boundaries of what you consider unique, and break down its parts;
- Prepare a statement describing the field of the invention, objectives, features, the scope of the invention, its limitations, and other relevant information to build the strongest patent application.
The Bottom Line: The Importance of Utility Patents
Utility patents are one of the go-to choices for inventors looking to protect their inventions and the ways they work. Utility patents can offer security and peace of mind to their owners and help them to reap the rewards of their creations for years to come. A patent can be an invaluable asset to a business.
Canada has a first to file patent system. What this means is that generally a patent is granted to the first person who files an application. As a result, it is wise to apply for a patent as soon as possible. This can vary from invention to invention and person to person. It is important that the information in a patent application is accurate and correctly describes the invention. A patent agent or lawyer can assist with the patent process and help prevent some potentially costly blunders during the process.
How Can We Help Protect Your Intellectual Property?
If you're looking for assistance to help protect your intellectual property rights, our team of professionals are ready to help. Reach out to us at 587- 400 -1911 for a free consultation.
