In our last blog, we discussed the need for patents for startups, where we covered the advantages of hiring a patent service and how it increases your company’s valuation.
Let us make it clear that IP and patents stuff are not as ghostly as they look. So, in order to make it look more straightforward, here’s a comprehensive guide to patents for new businesses and inventors out there.
By the end, you’ll get to know whether your invention is patent-ready or not.
Before filing a patent, ask yourself:
- How would you describe your invention? – Typically, the invention doesn’t necessarily have to be something “world-changing.” It could be as simple as a simple feature that is making the current system or process more straightforward.
For example, The digital T-shirt that is washable and all its electronic components waterproof is aimed at changing the fashion sense; the LED can be controlled with a mobile app.
- Its purpose – What is the goal of your invention – or innovation? Is it meant to make shopping seamless?
Do you aim to change the way people transact money?
You could also innovate self-driving cars to bring your groceries and act as your home guard. The list is endless. But it’s vital to know your core purpose.
- What does it add that is new to existing solutions? – As said before, you can add something valuable to the current solution. But make sure your innovation isn’t just a facilitator but a real value-driven add-on.
Like WordPress – it has millions of plugins and themes developed by thousands of developers. Still, only a handful of them are known. Also, some of them have become a vital part of the WordPress community.
- Are there any different ways of achieving the same result through substitute design alterations? – In this step, you need to analyze the alternatives to your innovation. Subsequently, know why your solution stands out. In this way, you create a durable moat adding a robust competitive factor.
Filing patents can be a daunting task, but it doesn’t have to with Patent Panacea. Leave the complex-y stuff to us, while you follow your passion.
