Business

4 Benefits Of A Patent Search

Patent

Published on September 21st, 2019

Are you an inventor or a business owner who has an invention that you think is a solution to a problem? Do you want to bring your product out in the market? Do you want to increase its value and profitability?

If yes, then applying for a patent is your first course of action. Patents allow your business to stand out in the industry where it belongs. It can also be an attractive selling point for future investors.

A patent application can be a tedious process. Starting with a patent application search will give you structure and direction to make a better decision.

A patent application search will gauge the scope of patent protection that the Patent Office will grant your invention.

Your general concept may be patentable if the prior art doesn’t show the general idea of your device. But if several prior art references are the same as your invention, limited patent protection is possible. The patent application search may uncover the most relevant references.

You will need to invest in a patent search. But prioritizing on this crucial step to your patent application will be worth your time, money, and effort because of these benefits:

1. Saves You Time And Money

Making Money Online

A patent search will discover prior art that proves that an invention has been done before. It can also uncover if it is just a variation of another product.

A patent search will confirm the patentability of your product. If it does not meet the requirements of patentability, then it is wise not to proceed with the patent application. You would be saving a lot on patent application cost ($8,000 to $14,000).

2. It Provides Insight On The Scope Of Patent Protection

Search results will allow you to determine the kind of protection your product will receive. It will serve as a basis whether you will need to make some changes or tweak your product to make it fully patentable. It will allow you to plan your additional investment for tooling costs, legal fees, and equipment purchase.

3. It Aids In The Drafting Of The Patent Application

A patent attorney will use the search results in drafting a secure patent application. If the search resulted in a prior art similar to your invention, the patent attorney could use this to distinguish your design from the prior art. It increases the chances that the Intellectual Property Office will grant a patent to your product.

4. Can Determine The Commercial Viability Of Your Invention

Merchant Account

The search may reveal many other products that are the same as your invention. This means that the market is already crowded. Selling your invention may not be as profitable since you will be contending with a lot of competition.

A patent search is a crucial step in the success of your patent application. Hiring the services of a patent lawyer or a professional patent searcher will help you do this correctly. It may cost you money, but it will be a worthy investment in the long run.