This document provides information about patents and the patent application process. It defines key terms like invention, innovation, and market research. It explains that a patent is a legal contract between an inventor, owner, and the US government. The main parts of a patent application are outlined as the abstract, specification, and claims. It is estimated that applying for a US patent will cost around $7,000 on average. The document advises evaluating the costs and merits of an idea before beginning the application process.

1. Research and Development

2. Terminology
 Research – refers to the advancement
of knowledge
 Development – refers to the
application of knowledge
 Market Research – refers to the
process of gathering, recording, and
analyzing data about consumer needs
and wants and the products, processes,
and services they use

3. Invention vs. Innovation
 Invention: A new product, system, or
process that has never existed before,
created by study and experimentation.
 Innovation: An improvement of an
existing technological product, system,
or method of doing something.

4. Market Research
• Purpose – help companies make better
decisions, create a business plan, launch a new
product or service, fine tune existing products
and services, or expand into new markets.
• What information is needed in order to solve
the problem?
• Basic Steps –
– Define the research problem
– Select and establish research design
– Collect and analyze data
– Make Decisions

6. Patent Applications
Just the Frequently Asked
Questions

7. What is a patent?
A patent is a legally binding
contract between an inventor,
an owner (who may be the
same person) and the people
of the U.S. represented by the
U.S. Office of Patents and
Trademarks.

8. Who is involved in obtaining a
patent?
The Inventor/The Owner
The Patent Attorney
The Patent Examiner (U.S.
Citizens)

9. Patents limit competition.
Patents are a teaching tool.
Patents demonstrate capability.
Patents protect intellectual property.
Why would I want to obtain
a patent?

10. Brief Introduction
Technical Description
Legal Statements
What are the main parts of a
Patent?
Abstract:
Specification:
Claims:

11. Do I need to build my invention
to obtain a patent?
No

12. Do I need to have every last detail
of my idea fleshed-out and
documented to apply for a patent?
No

13. If I have an idea I want to patent,
but I am not prepared today to file
an application, am I out-of-luck?
No

14. If I publish a paper about my
invention, or sell my invention,
prior to applying for a patent,
do I forfeit my
opportunity
to do so?
No
But you only have one calendar year from
any one of the above events to file.

15. If I have a patent, and I improve on
my idea, is my improvement
automatically covered by the
original patent?
No
But a ‘Continuation in Part’
application or a new application
may be filed any time prior to the
date the original patent issues.

16. Are U.S. patents recognized by
other countries?
Yes and No
U.S. Patents forbid the development,
marketing and/or sale of items
under U.S. Patent protection
within the U.S., unless an individual is
licensed by the owner of the patent.

17. Are there foreign patents, and can I
apply for one if I want to patent my
invention in other countries?
Yes
Foreign patent applications are:
• extremely expensive
• usually more difficult to satisfy
• subject to similar, but different
restrictions and criteria.

18. What should I do if I want to apply
for Patent Protection?
• Evaluate the cost.
• Evaluate the merit of the idea.
• Write a letter to the U.S. Office of Patents
and Trademarks.
• Identify and retain a Patent Attorney.
• Develop the Application.

19. Approximately how much does it
cost to apply for a U.S. Patent?
Evaluate the cost $ 7,000.00+/-
Patent Search Expenses* $ 500.00
Application Fee $ 500.00
Attorney’s Fee $ 2,500.00
Litigation Expenses $ 1,500.00
Maintenance Fees $ 1,500.00
Total: $ 6,500.00
*Optional Expense - may lower risk of failure

20. How do I evaluate the merit of my
idea?
• Evaluate the merit of your idea in terms
of your life goals.
– Having an approved patent does not
mean instant rewards; it may take 10
to 20 years.
• Evaluate the merit of your idea in terms
of time invested.
– A patent application may take as much
as 2 - 3 years to issue from date of
application, not counting the time to
develop the application.

21. How do I evaluate the merit of my
idea?
• Evaluate the merit of the idea in terms of earning
potential.
– Will your idea generate $1,000,000.00?
• Direct Business
– New Business
• Co-Lateral Business
– Sale
– Licensure
• Lost Opportunity
• Infringement Benefits
– Litigation

22. Why would I want to write a letter
to the U.S. Office of Patents and
Trademarks?
• U.S. Patent Law allows an inventor to
notify the U.S. Office
of Patents and Trademarks of your
“intent to patent,” thereby protecting
your idea for one calendar year.
• Nominal fee $25.00 to $100.00
Disadvantage - Critical Deadline
Advantage - Early Disclosure Protection

23. Why should I contact a Patent
Attorney?
• It is possible to apply for a patent without
an attorney, but the risk of failure is very
high.
• He/She is your representative to the U.S.
Office of Patents and Trademarks.
• He/She is your counsel for interpreting the
law.
• He/She is your technical “sounding board”
and strategist.
– A Patent Attorney has a Degree in
Engineering
and in law.

24. What do I need to develop my
Patent Application?
• A credible, patentable and valuable
idea
– Not obvious to “someone of
ordinary skill in the art.”
– Not already published or on the
market.

25. What should I do if I want to apply
for Patent Protection?
• Evaluate the cost. $7,000.00 +/-
• Evaluate the merit of the idea. Risks vs. Value
• Write a letter to the U.S. Office Protection
of Patents and Trademarks.
• Identify and retain a Patent Attorney. Help!
• Develop the Application. WORK!