STRATEGIES TO PROTECT YOUR INVENTION BEFORE HAVING ACCESS TO FUNDING
If you’ve come up with a new invention but don’t yet have the funds to file a patent application, there are a few strategies you can use to help protect your invention in the meantime:
- Keep your invention secret: One of the most important ways to protect your invention before filing a patent application is to keep it confidential. Only disclose information about your invention to individuals who have signed a non-disclosure agreement (NDA) to help prevent them from sharing your idea with others.
- Document your invention: Keep detailed records of the development and testing of your invention, including dates, sketches, prototypes, and any other relevant information. This documentation can be useful in proving the timeline of your invention’s creation if a dispute arises regarding its originality.
- Consider a provisional patent application: In the United States and some other countries, you can file a provisional patent application, which provides a filing date and the term “patent pending” for your invention. A provisional application gives you 12 months to file a non-provisional patent application and allows you to use the term “patent pending” during this time.
- Explore licensing agreements: If you believe your invention has commercial potential, you may consider entering into a licensing agreement with a company or individual who has the resources to help bring your invention to market. Be sure to consult with an attorney before entering into any agreements.
- Conduct a prior art search: While this won’t protect your invention, conducting a prior art search can help you understand the existing patent landscape and assess the potential patentability of your invention once you have the resources to file a patent application.
Consult with Allgaier Patent Solutions to further understand your options and develop a strategy for protecting your invention.