Monday, September 10, 2012

Great read: Can you patent your idea?

What is an idea worth?
Great article for those inventors that want to patent an idea.

SBA Online: Is your business idea patentable?

The article gives a good summary about:
  • What can and cannot be patented;
  • The different types of patents;
  • The patenting process; and
  • Other ways of protecting your idea/invention.

Just having an idea is not enough.  An inventor or entrepreneur with a new and unique idea/product/service needs to approach this the same way they would start any business.  The best way is to develop a business plan to address the basic business planning questions.

  • Is there a market? 
  • Who will buy it? 
  • What competition is out there?
  • How much does it cost?
  • How will you make money?
  • How much will it cost to get started?
  • Is a patent the best way to protect your product?  
Planning ahead before you run out and spend your life savings to develop a prototype or initial product only to find out that they do not sell could save you time and money down the road.