Most people don’t realize that around 98% of new patents are NOT completely new ideas. They are typically ideas that build on older ideas. New added functions, new methods, new designs…in other words, ‘The Better Mousetrap’!
A patent is a limited duration property right relating to an invention, granted by the United States Patent and Trademark Office (USPTO) in exchange for public disclosure of the invention. Registering your invention with the U.S. Patent and Trademark Office (USPTO) provides you with protection by way of Intellectual Property rights, protecting your ability to develop and license and/or sell the invention for set duration described below. Once that duration is over, the invention becomes public domain and anyone may develop or manufacture similar inventions. This window of protected development and sale is allowed for the initial inventor to reap initial rewards and establish themselves in the marketplace before competition sets in. The patent expires to allow the invention to become public domain so that monopolies do not form that may stifle innovation.
- Utility Patent protection extends 20 years from date of the initial USPTO filing.
- Design Patent protection extends 15 years from date of the initial USPTO filing
Patentable materials include devices, machines, manufactured articles, industrial processes, and chemical compositions.
Check out our case study on RC enhancement which involved patent paperwork and prototype production.