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How to Determine the Patentability and Marketability of Your Invention Idea

Inventors have been dreaming up and creating new inventions since the beginning of time, but how do you know if your claimed invention idea is patentable and marketable? It’s important to understand patent law and the process for obtaining patent protection before investing too much in a venture that could be unsuccessful. This article will discuss some key aspects of patent law to consider when determining whether or not your invention idea can become a reality. We’ll cover topics such as prior art searches, filing a provisional patent application, market research, understanding intellectual property laws, and more. By following these steps you can increase the likelihood of success in developing an invention that is eligible for patent protection.

Understand the Basics of Patent Law

Patent law is an area of law that provides protection for inventors who have created a new invention or improved upon an existing one. The patent system gives inventors the exclusive patent rights to exploit their invention commercially and to prevent others from using it without permission. To obtain patent protection, you must first identify an invention that is patentable which means it must meet the standards of novel, non-obvious, and useful. If you have a patentable invention, you must then file a patent application with the patent office and provide details about your invention such as its structure, operation, or composition.

Research Prior Art and Your Competitors to Check for Existing Patents

Prior to filing a patent application or investing in your invention, you should search for existing patents and other prior art that may be similar to yours. This is important because if an identical or very similar invention already exists, then it cannot be patented again. A thorough patent search will help uncover any potential problems with your idea before you invest too much time and money into it. Additionally, you should also research your competitors to make sure that they do not already have a patent for an invention similar to yours.

Create a Market Research Plan to Assess Demand for Your Invention

In addition to checking for existing patents, you should also do some market research to determine if there is a demand or potential customer interest in your invention. To do this, assess the current market for similar products and services, identify any competitors that provide similar products or services, and investigate the potential target audience for your invention. By carefully researching the market and conducting surveys or focus groups with potential customers, you can get a better understanding of the demand for your invention.

Contact an Intellectual Property Attorney or Consultant For More Detail on How to File a Patent Application and Protect Your Rights 

Schmeiser, Olsen & Watts LLC is a top-tier intellectual property law firm that can help you with filing a patent application and protecting your rights. With decades of experience in the field, they have the knowledge needed to ensure that your invention is eligible for patent protection and that you are adequately protected from infringement. They provide comprehensive services including prior art searches, market research plans, provisional patent applications, filing with the Patent Office and more. Moreover, their team of experienced attorneys will be able to answer any questions you may have regarding intellectual property law or the process for obtaining patent protection. Schmeiser, Olsen & Watts LLC offers complete end-to-end support so that inventors can focus on developing their inventions without worrying about legal matters.  Please call 518-220-1850 or 480-655-0073 to consult with an attorney.