What should you do If Someone Already Patented Your Idea?

It hit you prefer a huge amount of bricks; the celebs aligned and also you had your eureka moment: you came up with a fantastic new idea with a how to start an invention idea! You threw together a prototype to see if the thought would work, plus it did! Then you hopped on the internet Patents and commenced searching to see if someone has patented your idea. You sorted through countless patents and lastly found one that looks nearly the same as your idea. What can you do?!? Fortunately, there's a good deal that can be done and often you can still pursue your idea and succeed, even when someone else has patented the thought.




First thing for you to do is carefully examine the patent and see can this patent really describe the same my idea does. Otherwise, or not exactly, you'll want to consult a patent lawyer to ascertain if you are able to patent around this existing patent and get reasonable protection.

But what if someone patented your idea exactly? You would like to determine if the strategy is available. Look online and stores to see if you'll find it. If not, get in touch with the names or company in patent. Question them if they are selling their product or maybe they have licensed their patent. 97% of patents never make anything, so there is really a good chance they aren't selling or haven't licensed this product.

Before we go any more, we have to discuss why 97% of patents never generate income. Large corporations make an application for and receive many patents which they never intend to pursue or aren't certain they will pursue, which makes up about point about this 97%. There are also patent trolls who submit an application for patents to later sue others, which also makes up about point about this number. But the major reason that a lot of patents don't make money is because it is not easy to take a product to promote. Inventors that do not try to find help can have an especially difficult time since several inventors work great about coming up with creative new ways of doing things but they are really bad at operating a business or finding out how to create a sales network. So if a patented idea didn't make money, that does not suggest the concept isn't good. Most likely the business behind the concept was run poorly or perhaps the product wasn't formulated and packaged in a fashion that would excite customers. This is very important to remember and there is a great example of this below.

So if the inventor or company listed in the patent says they aren't selling the item no body else has licensed the thought, inform them that you could be thinking about licensing the concept from their store. Before you decide to agree to anything, make sure you have done study. You must learn when the market opportunity is very large enough to aid the product of course, if men and women have the method is a good solution (if you'd like assistance with this, we can offer you Consulting or Invention Evaluations). When the product has got the potential, start licensing negotiations using them. It is impossible to state in a article what terms to sort out, because if the idea is practically ready to provide market, you will have to pay them more, if the idea is just on paper, you need to pay them back less.