There has been a lot of literature going around the Internet regarding the importance of filing patents, especially for start-ups. Opinions both in favour of, and against this proposal have been gathering storm, and there has been no conclusive outcome on the ongoing debate.
Why the debate after all? Here is why: Inventions and innovations have become the raisons d’ etre of today’s start-up ecosystem. Start-ups have come to be known for their creative vibrancy and their relentless pursuit towards something new, something different. The entrepreneurial zeal in all of you is definitely heady and is doing wonders for all of us to see!
But, wait, in all this excitement of starting up and managing everything by yourself, don’t you think you are missing out on something very crucial? You heard us right. If you are overlooking the need for patenting your product, you are in for serious troubles in the longer run. How?
Here’s how: In the initial stages of starting up, you get to discuss all your ideas with so many different people. Hence, chances are high that your ideas might get stolen, and you would be left with no legal remedy to battle it out, if this happens. Sounds nightmarish right?
Not to worry, as we do have a solution after all. And it’s simple: patent your product. File a provisional application if the product is still in the development stage. But do file a patent application. Provisional or otherwise. And even in the long run, patenting does prove beneficial, in so many different ways.
So, what is a Patent?
Simply put, a patent is an exclusive right granted to the patent holder by the government, by exercising which right, the patent holder gets the exclusive right to get any or all benefits arising from the patented product. In other words, he gets the exclusive right to manufacture, market and distribute the product, and also the right to license others to do any or all of these activities.
Sounds rewarding right? Yeah, it definitely is, but then it comes with a condition. What condition? It is this: you will get the patent only if you make public the entire working of the invention, so that there is scope for bettering the technology by others. Of course you can choose not to disclose certain aspects which qualify to be trade secrets.
So much for the meaning of patent. But why is it important after all? Shouldn’t you be keeping the information about your invention all to yourself?
No. And, here is how you will benefit by patenting your product:
Thus, these are some of the most important benefits that come with patenting your product. Have a product waiting to be patented? Need help?
What are you waiting for? You are just a click away from realizing your full growth potential. Have a query? Feeling lost? Get in touch with us and we will help you.
Still wondering How to apply for a patent? Well leave it to us! LogicApt has combined its professional expertise with latest technology to offer you unparalleled service when it comes to patenting. Our exciting patent tool offers not only helps you identify your patent needs but also facilitates the process of getting a patent. Moreover, you can also find the cost of the entire process within a few seconds. Feel free to explore our website and learn how your business can be positively affected by our services. Drop us a message and we’ll be happy to get back at you.