If you have an idea, invention or innovation that you believe is valuable, it is important to protect it. Intellectual property (IP) protection is the umbrella term for a range of legal rights that are designed to protect your creative work and your ideas. One of the most well-known forms of IP protection is a patent.
A patent is a legal right granted by a government to inventors that gives them the exclusive right to make, use and sell their invention for a set period of time. In exchange for this monopoly on their idea or invention, inventors must publicly disclose details about their innovation.
Patents are important because they incentivize innovation and promote progress in almost every field of technology. By giving inventors the exclusive right to profit from their inventions, patents encourage them to invest time and money into developing new ideas, products and technologies.
To receive a patent, an inventor must submit a patent application that includes a detailed description of their invention. Once granted, the patent gives the inventor the exclusive right to make, use and sell their invention for a set period of time – typically around 20 years from the date of filing.
Patents protect new inventions, while trademarks protect logos, names and other branding elements used in commerce. Copyrights protect creative works like music, art and literature. All three forms of protection – patents, trademarks and copyrights – are important parts of brand protection and intellectual property law.
If you have an innovative idea or product that you want to protect with a patent, your first step should be consulting with an intellectual property lawyer who specializes in patent law. They can help guide you through the process of filing a patent application with the United States Patent and Trademark Office (USPTO).
Patent protection provides several benefits to inventors, including:
