How much is your patent worth?

Question

I am thinking of getting a patent, but I'm not sure if it is worth the trouble.

Answer 1

It will depend on many factors.

If you are serious about exploiting your invention, and if you think others might want to steal your idea, then a patent is the only way in which you can protect it. The cost of hiring a patent attorney to draft a patent application for you and to prosecute it through to grant is steep, but doing it yourself would likely result in much weaker, or even non-existent, legal protection, so could be a false economy.

It partly comes down to whether the money you would lose (in lost sales or licensing revenue) if someone stole your idea would be greater than or less than the cost of obtaining a patent to protect that idea.

I would recommend that you get in contact with a patent attorney who will be able to provide you with specific advice tailored to your particular circumstances.

Good luck!

PS - dont disclose your invention to anyone until you have safely filed a patent application - doing so would damage your chances of getting a valid patent in most countries.

Answer 2

In General

When selling a patent for a licensing agreement its value is based on demand and the rate of return to capitalization.

The safest at this point will have "IP" intellectual property included.

There is a patent search prior to filing a provisional pending.

Answer 3

You never know. Better safe than sorry. Look at the Clapper.

Answer 4

multi million dollar ++++