Patents

A patent is a legal property right granted to the person or entity who invents, designs, or cultivates a new, novel, original or non-obvious product, process or service of monetary value.

• A patent grants the patent-holder the exclusive right to make, sell or use the idea for a specified period of time during which only the patent holder and authorized or licensed manufacture, sell or use of the idea by another party or licensee, or sell outright, or assign the idea to another person or entity.
• Patents are issued per country.
• cost ~$30k to file in USA.
• can take 3-4 years

What is patentable

Plant patent

• 20 years of protection since it is filed

• new and original species or plant that can be reproduced sexually or asexually

Design patent

a reproducible change of appearance, configuration, ornamental design or shape of an utilitarian item

• 14 years of protection since it is granted

• eg. a change of appearance, not functionality of a bottle, chair, eye-glass frame, necklace, computer icon, or type font

Utility patent

• 20 years of protection since it is filed
• requires a maintenance fee of $800 @ 3.5 yrs
• $18,000 @ 7.5 yrs
• $37,000 @ 11.5 yrs
• the fees double if the patent is licensed to a firm of 100+ employees. Costs ~ $10,000

• a new method of doing business
• a new manufacturing process
• a useful apparatus, machine, manufactured item or composition of matter
• computer programs and mathematical algorithms used in computer programs

not possible to patent an abstract mathematical algorithm. Only those used in computer software

Books

Patent Pending in 24 Hours

by Richard Stim Attorney et al. Link: https://amzn.com/1413322018

Patent It Yourself: Your Step-by-Step Guide to Filing at the U.S. Patent Office

by David Pressman Attorney et al. Link: https://amzn.com/1413322573

Sell Your Ideas With or Without A Patent

by Stephen M Key et al. Link: https://amzn.com/1507885733

requirements

• useful
• new
• has to have a technical improvement ( software )

pros

• licensing
• attractive to investors
• protects against trolls
• company valuation

America Invents Act

• first to file patent system before (printed publications, sale or in use )

ways

• patent prosecution highway
• first action interview program
• prioritized examination (fast track) 4 months

Provisional Patent Application (PPA)

Application that uses text and drawings that explains how to make an idea.

• Only for Utility Patents
• lasts 12 months
• costs $65

• allows to include "Patent pending" notice
• it gives protects
• you can keep filing PPAs on top