Securing Your Invention: Essential Steps Within 12 Months
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Chapter 1: The Urgency of Patent Protection
When it comes to inventions, the last thing you want to hear is, “I regret to inform you, but it’s too late to file a patent for that idea.” Over the past two decades, I've had to convey this disappointing news to numerous tech startups. This scenario is particularly dire for your business, especially when it involves a key invention.
The 12-Month Countdown
In the United States, patent laws impose strict deadlines for filing patent applications. If a company 1) publicly reveals an invention, 2) sells a product that incorporates the invention, or 3) proposes to sell such a product, these actions may initiate a 12-month deadline for patent application filing. Typically, missing this deadline means the company loses its chance to safeguard the invention via patent protection.
Photo credit: Steve Sponseller
Unfortunately, many leaders in tech companies are unaware of these patent filing regulations. They grasp the significance of patenting inventions, yet often overlook these deadlines, leading to unfortunate outcomes.
Occasionally, a company may find itself fortunate. For instance, one company sold its product nearly a year before we first consulted, but we still managed to file a patent application before the deadline. This was a fortunate outcome. However, had our meeting occurred just one week later, the opportunity to patent that valuable invention would have vanished. This invention was pivotal to the company, forming the core of their technology that is revolutionizing the data communication sector.
Chapter 2: The Invention Triage™ Process
Fortunately, there’s a way to avoid losing your patent protection, and it doesn’t rely on luck! Enter the Invention Triage™ process.
How does it function? This approach focuses on pinpointing inventions and prioritizing which ones require immediate attention. In particular, inventions nearing their 12-month deadlines are treated as top priority.
The Invention Triage process is especially crucial when you are beginning to develop a patent portfolio or if a significant amount of time has elapsed since your last evaluation of newly identified inventions.
Recently, I collaborated with a computer hardware firm that had already secured four patents for inventions created years prior. However, after submitting those initial patent applications, the company ceased to prioritize the protection of new inventions.
Despite launching multiple new products in the last two years, no efforts were made to identify and secure patents for innovations within those products. Our first course of action was to implement the Invention Triage process, which revealed five significant inventions that set the company’s products apart in the marketplace. However, upon closer examination, we had to discard three inventions since they had missed the 12-month filing deadline.
The remaining two inventions were evaluated meticulously based on the company's objectives and priorities. Ultimately, both inventions were deemed to hold substantial value, prompting the company to file patent applications for both, thereby bolstering their patent portfolio.
Although three inventions were already lost to the deadline, the company successfully "rescued" two. Had they delayed the implementation of the Invention Triage process by just two months, all five inventions would have been forfeited due to the deadline.
Act Now
The clock is ticking; you have just 12 months to protect your invention after 1) publicly disclosing it, 2) selling a related product, or 3) proposing a sale of such a product. Once that period has elapsed, your patent rights will be forfeited.
The Invention Triage process is designed to help you swiftly identify impending deadlines and take the necessary actions to protect crucial inventions. Even if you have filed some patents, it’s essential not to assume that all your valuable inventions are fully protected. A periodic review can reveal critical inventions that still lack protection.
Without this process, these inventions may slip through the cracks, ultimately benefiting your competitors who can exploit them freely.
Action Step: Involve your entire team in this process, encouraging them to report any activities that could trigger the 12-month patent filing deadline. I suggest appointing a dedicated individual or group within your organization to oversee and track these significant activities.
Need further assistance in safeguarding your inventions? Get a free copy of my latest book, Cracking the Patent Code, and uncover my proven strategies for identifying, assessing, and protecting your most valuable innovations.
This video titled "Episode 6: The BEST TIME to Secure Your Invention" discusses the optimal timing for filing patent applications and strategies to ensure your invention is protected before the deadline.
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