Every week I sit down with entrepreneurs who want to protect their invention with a patent. Before we file, I ask them to think through a few things. Here are my top three questions.
1. How are you going to make money with the patent?
Your business plan sets out how you expect to earn. Who am I, what am I going to do, what will my business look like? Those basic questions matter for the patent application too, because how you plan to earn from your patent shapes the detail we put into the application.
2. What makes your idea distinctive?
Which parts of your invention stand out? In practice, I often see a competitor has got there just ahead of the applicant. Researching what the competition has already developed in your field gives you a clear view of your options. And once you know what is already out there, you can explain in the application what sets your invention apart. That improves your chances of being granted a patent. A novelty search is the fastest way to find out.
3. What does the timing look like?
Don't make your invention public too soon, and don't leave it too late either. Timing is critical. When do you approach potential partners, and can you do that under a confidentiality agreement? When will you launch? How long will further development take? A patent application follows a fixed timeline with fixed moments where money goes out. Get the timing right and you avoid unnecessary costs early on.
