Business

You don’t have a Patent yet

Once your patent application is received at the Patent Office, it will be assigned to an examiner, who will perform her own patent search. Based on her search, she will either accept or reject your patent application. You will then have the opportunity to make amendments to your application to overcome arguments.

How long does this process take? It is not uncommon for a patent application to be pending for one to three years before issuing into a patent, or being finally rejected. Hiring a patenting agency, such as InventHelp, to assist you would be wise.

In the meantime, during the one to three years that you have a patent pending, you are trying to make money from your idea, even though you do not yet have an actual patent.

Many companies will not talk to you until you have an actual patent. But, having a legal patentability opinion can greatly increase the chances that they will help pay expenses relating to your idea. The reason is that they are less at risk of spending money on an idea that is not patentable.

In short, having a patent attorney or a agency, like InventHelp,  prepare a well reasoned patentability opinion can greatly increase your credibility when talking to companies interested in your idea. And since your purpose is to make money from your idea, it is in your best interest to have a patentability opinion prepared to increase your chances of making contacts and making money sooner rather than later.

The easiest way to make money from your ideas is to get a patent and then sell your idea, by licensing it, to a company that is already selling products to your target market. There is one very good reason for this strategy. They, the companies that are hitting your target market, already have their own distribution set up.

All you need to do is just plug your idea into that distribution chain, and collect your royalties.

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