Patent Your Idea or Invention
If you’ve had an idea for an invention that you think will have some usefulness in the marketplace, then it’s well worth considering a patent.
Firstly, to get a patent your idea must be novel or new and never been done before in the way that you have done it. It must have some ‘inventiveness’ about it.
It must also be useful. If it isn’t useful no-one would buy it so why bother patenting it…?
Types of inventions which can qualify for patent protection
- products and devices ( across all possible industries)
- mechanical apparatus
- business methods
- biotechnology related products
- computer and internet based software and processes
Missed Opportunity!
In 1972, Frank Bannigan, MD of Kambrook, developed the electrical power-board – a hugely successful product we all use today.
However, the power-board wasn’t patented and Kambrook ended up sharing the market with many other manufacturers.
‘I’ve probably lost millions of dollars in royalties alone. Whenever I go into a department store and see the wide range of power-boards on offer, it always comes back to haunt me.’
Frank Bannigan
What will patent protection do for you?
1. You can use your patent to prevent any competitors from using your idea without your permission.
2. You can benefit from any financial gains from the commercialization of your patented invention.
3. You can protect your invention in the marketplace. You can threaten or take legal action against unauthorized use of your invention.
4. Having a patented invention means that any potential business partner will consider your invention more seriously. It demonstrates your commitment to the value and marketability of your product. You will also be in a much stronger bargaining position with any potential business partners.
5. Having your patent on the Patent Register acts as a valuable deterrent to any would be infringers/unauthorized users. Your patent is a valuable notice of your claimed rights to the invention.
6. A patent will protect your investment of the time and effort that you have put into the research and development of your idea.
FAQ
Most new inventions are improvements on what’s already out there. You can certainly consider patenting it if it meets the criteria.
If your invention doesn’t fully match the criteria needed for a standard patent, it may well qualify for an innovation patent.
Call us to schedule a confidential and complimentary appointment. We can complete a Confidentiality Agreement and chat about your options for protecting your idea.
We work with yourself and a team of Patent Attorneys to work out the best course of action for you
If your competitor copies your invention and lodges a patent, it’s extremely difficult to prove the invention is yours and fighting it in court could cost you probably around $80-100K in legal fees.
It costs under $10,000 to patent which isn’t expensive compared to having it stolen
Initially a ‘specification’ has to be prepared, based on your notes and sketches and drawings.
Our Patent Attorney will write this up for you.
A ‘patent spec’ is a very detailed and complex document that should only be prepared by a highly experienced Patent Attorney.
Our rates for this are very competitive and our Patent Attorneys are well qualified and experienced, insisting on the highest quality of work for you.
No, there is no such thing as a world wide patent. We can help you patent your invention in the countries where you think there will be a market.
There are currently two kinds of patents in Australia – a standard patent and an innovation patent.
Standard patents offer the full allowable protection. Innovation patents offer a shorter period of protection.
A Standard Patent – Valid for 20 years and protects inventions. Your application undergoes a substantial examination process before grant.
An Innovation Patent – Valid for 8 years and protects innovations or less complex inventions. Does not automatically undergo substantial examination before grant. Being phased out in 2020.
New Zealand only has a standard patent which is similar to the Australian standard patent.?
Most countries have standard patents.
Good. This is the best time to see us. We can look at protecting your idea as soon as possible.
Your initial idea can be registered to offer you 12 months protection so that you can work on your idea and perhaps chat to experts or manufacturers to get it to the next stage.
Confidentiality
It’s imperative at this early stage that you don’t discuss your idea with anyone as you risk someone possibly stealing it from you. It happens!
If someone else lodges your idea before you, then they can seek damages against you even if you are the true inventor.
If another person patents it before you then they can sue you.
