Benefits of Patenting an Invention
When you come up with a new invention, the first thing that you should do is get that invention patented. There are several benefits of patenting an invention that will help to ensure that you get the most from all of your hard work and determination.
The most oblivious benefit of patenting your idea is so you can make money off the product that you invented. Once you have patented your idea and followed all the proper procedures, you can put that product up for sale and continue to receive an income from it. However, this is not the only benefit that you can receive from patenting an invention.
As mentioned above, making money is not the only reason to patent your invention. By getting a patent, you will prevent anyone else from ever making and reselling your idea. You will own exclusive rights to the invention once you have it patented, copyrighted and trademarked. The patent protects you from anyone that tries to steal your idea or use it to benefit him or her in anyway.
It can also help you launch a new business based on the product that you invented. You may be able to start your own business selling the product that you invented. Having a patented invention will help you to receive the funds needed to get started because many lenders will view this as a form of collateral.
You can sell your patented idea to a company or someone else for one lump sum. If you prefer not to sell, you can always license your product to others so you will continue to receive a percentage of the price the item will be sold for each time someone purchases it.
Have you ever considered how having a patent invention would look on a resume? Just imagine how impressive this would be to a potential employer. It shows you have ambition and a desire to meet challenges head on and prevail over them. Having your invention patented will also serve as a public record that proves you are the inventor and prevents others from coping or revising your invention.
Things to Consider
The next time you have what you believe is a great idea, take it one-step further. Do your research to make sure no one has already submitted the same idea, if not then strongly consider getting a patent for your idea. After considering all the benefits that you can receive from doing so you will see that there really is not any reason for you not to.
Having a patent invention is a great feeling and confidence builder. If you have, the opportunity to even submit an idea for a patent you should try it. You have a lot to gain if it is accepted. Who wouldn’t want to have a patented invention on the market?