What should you do If a person Already Patented Your Idea?

It hit you prefer a lot of bricks; the heavens aligned and you also had your eureka moment: you came up with an excellent break through to have a how to pitch an invention to a company! You threw together a prototype to see if the thought would work, also it did! Then you hopped on the internet Patents and started searching to ascertain if someone has patented your idea. You sorted through countless patents and lastly found one that looks a lot like your idea. What can you do?!? Fortunately, there's a good deal you can do and frequently you could still pursue your idea and succeed, even if somebody else has patented the idea.




The very first thing you want to do is carefully examine the patent to see can this patent really describe the same thing my idea does. Otherwise, or otherwise not exactly, you will want to consult a patent lawyer to see if you can patent surrounding this existing patent and get reasonable protection.

What if a person patented your idea exactly? You need to check to see if the product is available. Research on the web and stores to ascertain if you'll find it. Otherwise, try to contact names or company in patent. Question them if they are selling their product or if they've got licensed their patent. 97% of patents never make anything, so there is truly a good possibility that they aren't selling or haven't licensed this system.

Before we go any more, we should speak about why 97% of patents never earn money. Large corporations make an application for and receive many patents which they never plan to pursue or aren't sure that they are going to pursue, which makes up about point about this 97%. There's also patent trolls who apply for patents to later sue others, this accounts for point about this number. But the primary reason that most patents don't generate income is because it is sometimes complicated to bring an item to market. Inventors that do not try to find help can have a very hard time because so many inventors work great about coming up with creative new methods for doing things but you are really bad at running a business or learning how to create a sales network. So if a patented idea didn't earn money, that will not necessarily mean the concept isn't good. Most likely the business behind the idea was run poorly or the product wasn't formulated and packaged in a manner that would excite customers. This is very important to remember and there's a great illustration of this below.

Therefore the inventor or company placed in the patent says they're not selling the product and no other person has licensed the thought, let them know that you may want to consider licensing the concept from their website. Prior to deciding to agree to anything, make sure you have done your homework. You must know if the market opportunity is big enough to support the product and if people will feel the strategy is the answer (if you'd like assistance with this, we could offer you Consulting or Invention Evaluations). When the product has got the potential, start licensing negotiations with them. It is impossible to say in a article what terms to exercise, if the concept is nearly prepared to bring to market, you will need to pay them more, in the event the idea is simply in writing, you should pay them back less.

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