Protection

Protection of an invention idea is typically accomplished through the patent laws. Two types of patents are typically applicable to individual inventors: Design Patents and Utility Patents.However before you file patent application you must confirm that your invention idea hasn’t been already patented by someone else.This process is called patent search which requires considerable time and efforts.
Design patents protect the aesthetic value and elements of a design. Design patents protect the allowed claim for 14 years from the date of the application. But, only one claim is allowed as the application must specify only one design. For this reason, design patents are sometimes easier to obtain. And, they are easier for competitors to work around.
Utility patents, on the other hand, protect the usefulness embodied in the invention. Utility patent applications are either the provisional patent application or the non-provisional patent application.

Most individual inventors are advised to work with the provisional patent application first. This is because the provisional application has less requirements and, therefore, are less expensive to draft and take less time to file. And, when it comes to filing on time, it is very important because the first to file has the priority for receiving the patent.
The provisional patent application provides patent pending status for 12 months this means you get one year to convert provisional patent application to a non-provisional application. It is the non-provisional application that will be examined to determine if a patent will issue. But, the process takes 2-3 years and has a much higher cost than the provisional patent application. Most importantly, there is no additional protection provided by the non-provisional application over the provisional.
So, start with the provisional patent application and test the market.

Presentation

When it comes to presentation, there are a lot of different options. You have to figure out the best option for your invention. These options can be face-to-face with a real prototype, internet or email presentations with a virtual prototype, or even direct mail presentation with printed materials. Of course, there are more expensive options like radio and TV advertising. No matter what your product or budget, The Inventors Platform can help you determine which type of world patent marketing is best for you and can help source that world patent marketing.

License Agreements

License agreements are contracts between someone who owns intellectual property, like a patent, and someone who wants to use the intellectual property. A common situation is where a patent owner licenses the invention idea to a manufacturer or a retailer so the product can be made and distributed. The patent owner receives payments from the manufacturer that are called “royalties”. Of course, not every license agreement is the same. Sometimes the manufacturer will pay outright for all of the rights of the invention in a single lump sum. Other times, the manufacturer and the patent owner agree that money will only change hands when a product is sold. These types of license agreements more closely resemble a “joint venture”.