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The Benefits of a Provisional Patent Application for Your Hardware Startup
A provisional patent application early-on can be very beneficial for a hardware startup if your business goal is to either license your invention or proceed with a patent filing. Before we delve into the benefits of filing a provisional application let’s first define what a “Provisional Patent Application” is—According to the USPTO it is, “A provisional application provides the means to establish an early effective filing date in a later filed nonprovisional patent application filed under 35 U.S.C. §111(a). It also allows the term ‘Patent Pending’ to be applied in connection with the description of the invention.”
It is important to note that a “provisional application for patent has a pendency lasting 12 months from the date the provisional application is filed. The 12-month pendency period cannot be extended. Therefore, an applicant who files a provisional application must file a corresponding nonprovisional application for patent (nonprovisional application) during the 12-month pendency period of the provisional application in order to benefit from the earlier filing of the provisional application.” Once you file a provisional application the countdown clock starts ticking and your next move must be decided within the 12 month period.
As with any patent application, your application needs to be as complete as possible to be truly beneficial—this means that you must describe and document all variations, alternatives and permutations to your invention in detail. The best way of obtaining this critical information is by turning your idea into a functional prototype. A prototype will allow you to hold the invention in your hands, and make any necessary modifications to your final design. 3D CAD renderings and simulations will also help define the limits of your invention.
Below we discuss the two main benefits of a provisional patent application for your hardware startup:
Your Invention is Legally Protected
In the early-stage of product development inventors understand the importance of confidentiality and protecting their idea. While a confidentiality agreement will suffice when talking about your idea with engineering firms and licensing firms, investors can be slightly weary of signing one—and this can make things very difficult if you are seeking outside funding.
“Investors get proposals from many people and if they sign a confidentiality agreement with you, and another who has a similar idea, that could lead to liability on their part where there was no liability present absent them signing an agreement. (IP Watchdog)” Thus, if you want to show someone your invention without any legal protection, the pros and cons must be heavily weighed. If you have a provisional patent application pending though, you have defined your invention and it has a legal filing date, which makes discussing the invention with outside parties much less risky.
The “Patent Pending” Terms Can Be Used
“Patent Pending” is a term that is not only legally beneficial, but it gives your invention and your startup credibility. You are creating “perceived ownership” while defining the details of your idea. An idea that has been turned into a tangible invention (i.e. with a functional prototype) is more valuable when discussing potential licensing agreements and funding with outside investors.
The earlier you file a provisional patent application, the quicker you limit your exposure and prevent others from cutting off your rights (i.e. by filing for a similar invention before you do). The “Patent Pending” term shows that you have established priority for the idea/invention.
Developing a product should be viewed as a marathon and not a sprint. Taking your time early in the product development process to protect your invention will be immensely beneficial for your hardware startup later on.
3D Innovations is a Product Development Company – from the 3D Design to a fully functional 3D Prototype & Product.