Typically, the number one reason people conduct patent searches and read patent documents is to determine if an invention idea has already been patented by somebody else. They totally ignore possible hidden treasures that may also be found in previously issued patent documents. For those who have an understanding for an invention then you are probability someone that thinks outside of the box. Why stop there? Don’t limit yourself to thinking outside the box only when inventing. Thinking outside of the box when deciding how to utilize information found in the past patent documents can increase the likelihood of success with Inventhelp Licensing Expo as well as create other possible ways of making money. Here I will show you creative ways to utilize information found in previously issued patent documents including ways in which could turn some information into gold. I will not, however, show you every possible way way you can use the information in patent documents. You may come up with new ways yourself that have never been thought of before. Let’s go ahead and check out four possible ways to use information found in previously issued patent documents.
1. If you’re trying to find a patent attorney or agent to assist you using the patenting process, why not take down the names and address of law offices or patent agents you discover listed on patent document when performing a patent search. When the address will not be given, conduct a Google type search with the information that is listed. Obviously, just because a firm may have already handled the patenting of the invention similar to yours doesn’t necessarily mean they may be right for you personally. Do you wish to know an excellent source for locating out whether you should consider utilizing the same law firm or patent agent? Think about speaking to the inventor listed on the patent document? That’s right, call the inventor, introduce yourself and say, “I’m during this process of having a patent on an invention. I have been searching for a good reputable agent to assist me which will charge a good amount. I understand you used so-and-so. Would you recommend them?” In order to find the contact details from the inventor use a people search tool such as http://www.whitepages.com. Bear in mind that sometimes the inventors listed on the patent document are working on behalf of a company and was not accountable for hiring the attorney or agent that handled the patent process. Within this case, it could not really appropriate to make contact with the inventor. These types of arrangements as well as a possible method of identifying them are discussed in greater detail later.
2. From previous patents you can also compile a listing of assignees that may be interested in licensing your invention. The assignee listed on the patent document is really a person or company who has been not the inventor, but was issued ownership or part owner from the patent. Most patents that list assignees are the ones in which the inventor, or inventors work to get a company in the company’s research and development department. As part of the employment contract, the company has ownership rights to any invention created by the worker. Patent documents that may involve this kind of arrangement are often very easy to spot. Some possible signs are when several inventors are listed on the patent so when the invention is very technical. Unfortunately, it is sometimes hard to figure out. If it’s not obvious, you just have to call and get. Even when the assignee is really a company which has a research and development department, it doesn’t mean that they would not be curious about licensing your invention. Since they already have shown that they are running a business with products similar to yours, they may also be adding Patent A Product to their product line. If the assignee is surely an individual, it’s hard to figure out why there was clearly an assignment. You’ll never really know before you call and ask. Compose a list of assignees and also at the right time, don’t hesitate get in touch with them. If you do not possess a patent, prior to revealing any information regarding your invention make sure to protect yourself by having a non-disclosure or similar kind of protection agreement signed.
3. Believe it or not, by far the most valuable information you can find over a patent document will be the name and address of the inventor. (I’m referring to inventors that work in a private capacity rather than as an employee of a company.) An inventor of the product similar to yours can be a gold mine of knowledge for you personally. Most people will be afraid of contacting the inventor considering them as a competitor, however i let you know, it really is worth the chance of having the phone hung high on you. Besides, you would be surprised concerning how friendly many people actually are and exactly how willing they are to provide you with advice and share their experiences. Tap in to the knowledge they gained through their experience. You will have some people may not want to speak with you, but I’ll say it again, you’ll never know up until you ask! Should you do opt to contact an inventor remember you happen to be there to collect information, not give information. When they start asking questions which you don’t feel relaxed answering simple say something like “I know you’ll realize why I can’t share that information since I do not possess a patent as yet.” Most people will understand rather than be offended. You will find people who failed at being successful with their invention and will try to discourage you. This is when you must have a thick skin. Listen to the things they are saying, for they may share information along with you that you really need to consider, but don’t let them steal your ideal simply because they failed. The reason for their failure may not affect you. Anyway, you may be able to capitalize off their failure. Read number four below and you may see the things i mean.
4. While performing a patent search, if it is found that someone else has now received a patent on the idea, the tendency is for individuals to stop right there. However, choosing a previous patent upon an invention idea will not necessarily mean this game has ended. The patent protection may be alive and well, however the inventor’s drive and enthusiasm for invention may not really. They may have cast aside working to make money off their invention. Let me explain. Unfortunately, many people believe that after they get yourself a patent on their own invention, the cash will virtually start rolling in. They have associated the idea of having a patent to be much like winning the lottery. They believe all they must do is get the patent, contact a few big companies, license their patent to one, then sit back and wait on the checks. When this does not happen, they see themselves up against having to run the organization. This can include paying for the manufacturing as well as the costs of marketing as you would expect. Faced with this thought, many people get discouraged and provide up. There is not any telling the amount of good inventions already patented are collecting dust in garages around America for this very reason. I’m referring to inventions who have real possible ways to make tons of money if handled correctly. To help keep this from happening to you personally read “Collect Cash with Your Invention, Not Dust” by Jack Lander. For inventions where inventor has given up, will it be possible to buy the rights to such an invention for little money and market it yourself? You bet it could! Some individuals will be happy to just get back the price of their patent. Others may rather get yourself a small piece of the pie. I am speaking about a really small piece. However, you will have those that would prefer to let the ship sink than let somebody else make money off their baby.
Before speaking with someone concerning the rights to their invention, you must know the following:
After receiving utility patents, maintenance fees must be paid in order to keep the patent protection from expiring. This is true if the utility patent was issued on or after December 12, 1980. Maintenance fees are due no later compared to end of years 4, 8 and 12 through the date the patent was issued for the patent protection to keep in force. If the maintenance fee will not be paid each and every time it is actually due, the patent protection will lapse and definately will no longer be in force. However, there exists a grace period following the due date in which the maintenance fee can be paid, together with other re-instatement fees, as well as the patent protection will likely be reinstated.
So, in the event that Invent Help Tech has been previously patented or perhaps you find something which looks interesting for you, and you will have never seen it on the market, contact the inventor and learn what is going on. Be case of fact regarding it. Tell the individual you may be curious about purchasing their patent and find out what it really would take so they can assign it to you personally. Make sure they know you happen to be private individual and never a huge company. You may be surprised concerning the number of patents you can pick up. By the way, I highly atgjlh hiring an attorney to check to the status in the patent, cost of reinstatement, maintenance along with other fees, prepare all contracts and advise on any patents you are interested in acquiring. I’m not an attorney and I’m not providing you with any legal or professional advice.
When I stated earlier, they are just several possible ways you can utilize information from patent documents. Don’t be confined to just the ways which can be presented here. Use your imagination. Get the gold which everybody else is overlooking!