Patents are complex and often misunderstood, particularly regarding intellectual property (IP). While patents can be a powerful tool to protect your IP rights, several myths and misconceptions about patents could hurt your interests.
A good patentability search is a guarantee of approval
One of the most common myths about patents is that a good patent search service guarantees that your application will be approved. Unfortunately, this myth is not valid.
While a patentability search can give you a good idea of the likelihood of your application getting approved, it is not a guarantee that you will get a patent by the US government. That’s because the patentability search is only one part of the patent approval process.
A patent will stop others from infringing on your IP
Another common myth about patents is that they will automatically stop others from infringing on your IP. Unfortunately, this is not the case. A patent only entitles you to take legal action against someone who infringes on your patent. It does not automatically stop them from violating. That’s why it’s essential to start your business the right way.
You need a patent to exploit your invention commercially
This myth is another one that can hurt your IP interests. You do not need a patent to showcase your innovation commercially. You may be better off not patenting your invention if you plan to commercialize it since a patent can make it more challenging to market.
Patents are expensive and time-consuming to obtain
Another myth that can hurt your IP interests is that patents are expensive and time-consuming. While it is true that patents can be costly and time-consuming to get, this is not always the case. There are several ways to speed up and reduce the cost of the patent process, including filing a provisional patent application and using the Patent Cooperation Treaty (PCT) system.
You need a patent to sell your invention
You do not need a patent to sell your invention is another myth that could hurt your IP interests. You may be better off not patenting your creation if you plan to sell it because a patent can make selling your vision more difficult.
In addition, if you sell your invention, you will need to disclose the details to the buyer, making it easier for them to reverse engineer your vision and produce a competing product.
A patent will give you a monopoly on your invention
This myth is the final one that can hurt your IP interests. While a patent can give you the right to exclude others from making, using, or selling your design, it does not give you a monopoly. That’s because there are several ways to get around a patent. For that, you should hire a lawyer.
Although patents can help protect your IP rights, several myths and misconceptions exist that patents could hurt your interests. It’s crucial to be aware of these myths and misconceptions to make the best decision for your IP interests.