Creators and innovators think out of the box to design products we often take for granted. Undoubtedly, you have used multiple inventions that were the extraordinary idea of someone looking to improve life. Protecting the work of innovators is essential to the visionary process.
If you have an invention and would like to protect your idea, then schedule an appointment with the Law Offices of William D. Black in Phoenix to discuss the patent process and why securing your work is integral to your financial safety. You have unique ideas and creations. We want to ensure your success with sound business strategies.
Protecting Your Invention
The most assured way to protect any new invention you have created is through the patent process. A patent grants you the sole rights to the production of the product or means of creating a new way of making something happen for 20 years from the date of your application filing. You must apply for a patent through the United States Patent and Trademark Office.
Before you submit your application, there are specific requirements that must be met by your invention. You can better understand and achieve these conditions in Arizona when working with a skilled business attorney.
Licensing Your Patent
One of the benefits of a patent is the ability to license it to another business for its production. If you are great at creating innovations but have no way of mass-producing a product, then licensing can take care of this issue, granting a manufacturer the ability to make the product. Additionally, you may see a need for financial backing to meet the demands of your invention, so licensing can help in this way, allowing for a larger production scale.
This increases the likelihood that you benefit significantly from royalties from your invention, but the proper documents must be in place to protect your investments and earning potential. Let a Phoenix business attorney set you on a successful path with the appropriate legal documentation and guidance.
The Benefits of Patents
In addition to the benefits of protecting your exclusive rights for two decades, there are other benefits that a patent can bring. By the time you submit a patent, you have probably invested heavily in your idea. When you can sell or license your patent, the opportunity to recoup your investment upturns.
A patent also offers credibility to your future work. When businesses are looking for new ideas to promote and sell, they are more likely to take a risk on someone that has been through the process before, knowing that their expertise can potentially be profitable for their company.
And when an industry knows that your products are marketable, you garner the ability to demand higher compensation for your creations. You are increasing profits for the company and investing in your financial stability, reaping the reward for your hard work and creative efforts.
Ensuring Your Protection Through the Patent Process
We believe in working with innovators to encourage a high level of thought and creativity. This unique type of willingness to push against standard ideas, and develop a new way of achieving daily tasks is what innovation is about.
Our ability to handle the legal process efficiently gives you the time and space to make a difference. Take the next step in the patent process by contacting one of our offices today to schedule your consultation with William D. Black.