The thought of selling a new invention and becoming a millionaire is always tempting new inventors to rush into production. The first thought might be to turn to a company that helps new inventors get patents. However, the question is, “Can they be trusted”? By asking that question, the inventor has reminded himself that confidentiality is the first rule for intellectual properties.
First Things First
New inventors seldom consider that they should keep detailed records of their work. Without detailed records, the best patent attorneys may have difficulty securing a patent for you if a competitor presents well-documented work that establishes his right. New inventors should search the Internet for methods of record keeping for their inventions. “Invention Recording Document” from Neustel Law Offices is a good place to begin.
To establish your right to the patent, you should note the date of conception and the date that the invention is put into practice. There is little you can do to establish the date of conception other than record it. However, it is seldom used in determining patent rights. The more significant date is when you placed your invention into practice. This date is determined by a patent application or a prototype.
In some instances, the diligence with which you work can effect your patent rights. Since the dates and time spent in creating inventions are significant, you should be diligent in completing your work because some cases that are otherwise equal may be decided on the diligence of the inventor.
Building a New Invention Team
When new inventors are aware of the mistakes they may make, they realize that they cannot work alone. In addition to those working directly on the project, the inventor should begin working with attorneys who intimately know how the patent system works, such as Morgan Chu, Partner at Irell & Manella LLP.
for guidance in when and how to expose their invention in public. Patent rights may be lost if products are displayed without “Patent Pending” labels.
Attorneys familiar with business law should be consulted about legal requirements for business organizations, taxes and fees. Various legal documents may be needed in sharing royalties. Additionally, consultation with estate planning attorneys is advisable.
Inventions are precious possessions that may generate income for many years. The creation of the invention should be carefully recorded and guarded. The advice of patent attorneys can prevent mistakes that void the patent rights.