Five Myths About Patents: Dispelled

If you’re considering obtaining a patent for your invention, you may feel hesitant due to the vast amounts of myths and misinformation about them. Continue reading to learn the truth about patents, how they can benefit you, and how a competent attorney can effectively safeguard your work.

Five Common Myths About Patents

1. Patents Protect Ideas Globally

One pervasive myth assumes that a U.S. patent offers worldwide protection. However, patents are territorial and protect an invention only in the country where the patent has been granted. To secure protection internationally, inventors must apply for patents in each country of interest. The Paris Convention, for instance, provides a mechanism for filing patent applications in multiple countries through a priority filing system, but each national patent office makes its own determination of whether to grant the patent.

2. All Patents Guarantee Market Exclusivity

Many believe that holding a patent ensures exclusive market rights to sell the product. Patents indeed grant the right to exclude others from making, using, or selling the patented invention. Market success, however, also depends on factors like demand, manufacturing capabilities, and marketing. Additionally, a patent does not prevent competitors from inventing alternative solutions that do not infringe on the patent.

3. Once Granted, Patents Last Forever

This common belief is far from the truth. Typically, utility patents issued by the United States Patent and Trademark Office (USPTO) are valid for 20 years from the application date, subject to periodic maintenance fees. This time frame encourages inventors to continue innovating and allows the public eventual access to the invention. After a patent expires, the protected invention enters the public domain.

4. Patents Are Prohibitively Expensive

While obtaining a patent involves costs, including USPTO filing fees, attorney fees, and possibly drawing and search fees, these should be weighed against the potential benefits. A strategic patent can deter competitors and attract investors. For many inventors, the expense is a valuable investment in securing a competitive edge in the market. Businesses and individuals in Louisiana can consult with local intellectual property attorneys to understand the potential return on investment from obtaining a patent.

5. Patent Applications Require a Finished Product

Another myth is that an inventor must have a completed product before filing for a patent. In reality, patent law requires only that the invention be fully and clearly described in the patent application, so that someone skilled in the art could replicate it. The term one skilled in the art is a patent term of art that means a hypothetical person with average knowledge and experience in the same technical field as the invention who would have enough understanding to mark and use the invention without undue difficulty. This enables inventors to secure patent protection early in the development process, which can be crucial for obtaining funding and deterring potential infringers.

If you have further questions about patents or would like to obtain one, please don’t hesitate to contact Lemler IP to speak with a skilled New Orleans, Louisiana patent lawyer today.