By Donteacia Seymore on 9/29/2024
Having talked to hundreds, if not thousands, of inventors and creatives, I've heard all the fear and confusion around IP protection.So I definitely feel you on this.While, protecting the value of your invention as intellectual property is a multi-step process, it's all very manageable. Here's a quick recap:
And if you've got your sight set on doing business abroad, you may be considering an international patent, as well. If so here's some info you may find useful.
If your product has potential for international sales, securing patents in key foreign markets allows you to tap into larger customer bases beyond your home country.
It gives you exclusive rights to make, use, and sell your invention in those countries.
Even if you don't plan to sell internationally, many inventors now manufacture overseas (e.g. in China) for cost reasons.
Int'l patents can provide leverage in negotiating manufacturing contracts and prevent unauthorized copying or knock-offs in production countries.
Here's some other benefits:
International treaties like the Patent Cooperation Treaty (PCT) allow you to file a single international application to start the process in multiple countries, giving you time (up to 30 months) to decide which specific countries to pursue.
When developing an international patent strategy, approach the process with careful consideration and strategic planning.
First and foremost, assess the economic viability of pursuing international patents. While global protection can be valuable, it's also expensive and complex.
Focus your efforts on countries that represent primary markets for your goods or services, where the potential return on investment justifies the costs.
Analyze where your product or technology is likely to have the highest demand and revenue potential. This targeted approach ensures you're allocating resources efficiently.
Navigating the complex world of international patents can be daunting, so consulting an experienced attorney, before you even file a provisional, is a must!
A skilled legal expert brings invaluable knowledge of global intellectual property laws and can guide you through the intricate process of securing international patent protection.
They can help develop a strategic filing plan tailored to your business goals, manage complex applications, and provide crucial insights into different countries' patent systems.
Pricing your product is about more than numbers—it’s about defining its value and setting the stage for your success.
While this step is critical, don’t let it overwhelm you.
With clarity, research, and a willingness to adjust as you go, you’ll find the sweet spot that resonates with your customers and meets your goals.
Every decision you make is moving your idea closer to reality. I’m excited to see where this journey takes you!
Your biggest cheerleader,
Donteacia
International patents can be an important part of a comprehensive patent strategy, especially for inventors and businesses with global ambitions.
However, it's important to balance the benefits with the costs and complexities of international patenting by taking a strategic approach.
Ultimately, international patents should be part of a tailored strategy that aligns with your overall business objectives,resources, and long-term vision for your invention.
If it's justified for your immediate or long-term goals, then include it in your aresenal. But if you don't have the need for one, don't put yourself through the expense and effort of getting one.
Patent when and where it matters.
Your biggest cheerleader,
Donteacia
If you're completely new to the process and you don't know what to do, start with our toolkit. You can grab it HERE.
If you're ready to build your product, our boot camp walks you through the process from start to finish. You can get started HERE.
We also have a free masterclass that provides an in-depth overview and answers the most common questions. Take the masterclass HERE.