Your company has established an actually awesome brand-new item. Should you apply for a license, and also should you hallmark the item's name? Thus many various other things in life, business, marriage as well as sporting activities, it depends.
License a New Product? Of all, you can not in fact "license" an item or solution. You can only patent the technology that entered into creating that product or service. Looking for and obtaining a license has a number of benefits.
1. Protection and Exclusivity: First as well as leading, obtaining a patent for your creation prevents competitors from using it to create the same or comparable products. For example, when Post-it notes appeared, 3M had actually patented the modern technology behind them, which offered 3M an useful syndicate for many years. Understand, nevertheless, that the United States Patent Office problems licenses; they do not impose them. If a business infringes on your license, you will have to defend your patent through civil Happy.
While it possibly does not make feeling to certify your license to a straight competitor, you can accredit it to firms in various other markets as well as create a good earnings stream. If the product that makes use of the innovation is not generating the wanted sales or profits for your company, you can after that accredit the license - or even sell the patent - to create income from it.
3. Much Better Safe than new invention ideas Sorry: If you do NOT request a license, and 2 or three years later on you discover that a company is using your technology to generate a service or product, you may regret not patenting the modern technology when you had the possibility to do so.
If the patent attorney or license representative thinks your creation can be patented, he will aid you through the patent application process. A license lawyer is an attorney who specializes in what's called "license prosecution," the process of using for and receiving a patent. To locate a license agent or license attorney, use our totally free Patent Agent and also Patent Attorney Referral Service.
Safeguarding Your Innovation: As soon as you have looked for a patent, you must make use of the term "Patent Pending" in your sales literature and also summary of the product. Doing so will basically note your lawn, and also it may dissuade competitors from copying your product.
Trademark a New Product? Equally as you can not patent an item - you can only patent the innovation behind the product you can not trademark a product: You can just hallmark the name (or brand) of the item. If your new item has an unique name to recognize it, you must most definitely get a hallmark if for nothing else reason than to stop rivals from puzzling clients and also swiping sales from you by utilizing the same or a comparable item identification for their completing product.
If you simply call your new item the Model FHJ-604, after that no hallmark is really required. If, however, you've developed a name that is unique as well as unforgettable, (the Die Hard ® battery from Sears is a fine example), you need to most definitely shield your brand-new as well as ingenious product identification.
Consult with a trademark lawyer, as well as if he thinks your brand name or item name can be trademarked, look for the hallmark. When the United States Patent and Trademark Office problems you a hallmark, it will be a signed up trademark, so you will after that place a " ® "after the brand.
Patent versus Trademark: While both patents and trademarks are provided by the United States Patent and also Trademark Office, they are really unrelated. A product's innovation can be patented while the item's name is not trademarked. Or the product name can be trademarked while the product's innovation is not patented. Sears applied for a trademark for "Die Hard" but there are no patents related to the battery. Despite the photo developed by the brand, there is nothing special, cutting-edge or unique regarding a Die Hard ® battery. 3M filed for a trademark for "Post-it" as well as also patented the technology behind the item.
If your item makes use of a distinct modern technology, patenting your invention makes good sense. If you generated a valuable name for your brand-new item, trademarking the name makes good sense. But both issues need to be taken into consideration separately.
It is worth a couple of hundred bucks to have a patent attorney or license agent look at your technology and also figure out if it is worth applying for a license. If the license lawyer or license representative believes your creation can be patented, he will help you via the license application procedure. A patent lawyer is an attorney who specializes in what's called "license prosecution," the process of using for and also getting a patent. To locate a patent representative or patent lawyer, use our totally free Patent Agent and Patent Attorney Referral Service.
License versus Trademark: While both licenses and also trademarks are provided by the US Patent and Trademark Office, they are actually unconnected.