If you’re researching how to patent an idea, you’ve likely already come across the term “provisional patents” and may already know what they are. I’ll just explain briefly that provisional patents have been offered since 1995 as sort of a ‘pre-patent’ that, among other things, allows you to use the commonly heard term “patent-pending.”
They are less expensive than a standard patent, they are good for 12 months, and they are a logical first step for many entrepreneurs and startups. There are many more details to fill in, but that’s not the point of this post.
Before you even consider filing a provisional patent, please read and consider the steps below.
Step 1—Make a prototype as quickly as possible
I’ve already outlined some reasons about why you need to make a prototype of your product in an earlier blog post, but it’s worth repeating.
Did you ever see “The Social Network?” Do you remember the scene when the Winklevoss twins walked into the office of Larry Summers, the President of Harvard, and told him Mark Zuckerberg stole an idea for them that “could potentially be worth millions of dollars?” Well, they left with nothing. I’ll point out they also had no prototype.
Build a prototype, and do it quickly. If you need a referral for an engineer, I have plenty of contacts I would be happy to connect you.
Step 2—Find out how we’re solving the same problem currently
This is pretty simple—make a list of all other products and services that solve the same problem your new idea will solve. I highly recommend taking your time and creating an exhaustive list. There’s nothing quite like that sinking feeling when you’re two months into a project and find out it’s already been done, especially if it’s been done well.
Step 3—Find the key differences between your idea and existing solutions
Go back to your list and examine the features of all the current solutions—how is your solution different? It’s important to put the product features under a microscope.
Once you’re aware of the differences between your idea and the existing solutions, you need to find out if the differences are patentable. There are dozens of articles online that claim to help you understand this, but the truth is every situation is unique. For instance, some things just can’t be patented, like abstract ideas, non-useful ideas, and more.
To make certain your idea falls into the realm of possibility to be patented and navigate the maze that is the United States Patent and Trademark Office, I recommend speaking with an attorney.
Step 4—Determine if your idea will create revenue
Sounds obvious, but you’d be surprised how often this step is skipped. Skipping this step can lead to legal costs with no benefit, but more importantly, it can lead to accidently backing yourself into an inescapable corner, patent-wise, if you file a provisional patent incorrectly.
If you can’t sketch out a business plan and determine how a patent will affect your revenue, you don’t even need to file a provisional patent yet. Unless you’re just willing to try and get lucky.
I’d rather see you take the time and complete these four steps.
This is the fifth post in an eight-part series called How To Patent An Idea. To continue reading, please go to the next post, How To Patent An Idea—What NOT To Do.
If you’re reading out of order, no worries! Click here to go back to the first post, How To Patent An Idea—A Gross Oversimplification.