You’ve decided to pursue your business dream. But how do you protect the product or service you want to sell? If you’re like most entrepreneurs, the first step is filing a patent for your new innovation. While it may seem like rocket science, getting started with this process is actually pretty straightforward. For a step-by-step guide on how to patent a business idea, see this article.
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How to patent a business idea
To patent your invention, you'll need to make sure it's actually an invention. The US Patent and Trademark Office (UKIPO) says, "An invention is a device, manufacture, or composition of matter or a process or any new and useful improvement thereof. To be patentable, an invention must also be novel and nonobvious.[Note that referring to a previous invention is not sufficient to grant patentability. Rather, it must be new and not merely nonobvious. Thus, it's important to actually invent something.] If an invention is inventive, then it is susceptible of application to a new use, and if it is noninvasive, then it is not art, procedures, or technology and therefore not patentable."
This means that the process, product, or any process improvement can't be a simple reworking of something that’s already available. There must be some novel and nonobvious aspect to it. For example, if I applied a cocktail shaker to a mix spinning machine, it's patentable because this new process is patentable. However, if a cocktail shaker is merely a variation upon a previously existing similar tool, it's not patentable.
If you were to take a pair of old scissors, fit them into a pair of scissors that you received as a birthday gift, and then you combine the two, you are not infringing. It’s unlikely that going through this Torres-is nightmarish ordeal will get any better. The reason being that these are not two separate products, but rather two different methods of accomplishing a common goal. Simply combining two previously existing solutions does not grant you an invention.
Before you take the innovative step, be sure your application is legally sound.
When filing your UK Patent application, it's a good idea to discuss your business plan with an attorney to ensure that you have solid grounds for filing your application. If the attorney determines that you don't have a reasonable chance to bring your invention to market before being sued, your attorney can refer your application to a third party for patent evaluation.
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How long does the process take?
It depends on a lot of different factors. If you have a lot of experience with video editing and the story is already written, then the process will be a lot shorter. But if you’re a beginner, then it will take a bit longer. The length of the process also varies depending on how long your video is. For example, the shortest business video on my website was 5.65 seconds long.
Patents can be very profitable. But some people include too many steps in the patent application process. It may not take a whole lot of time, but it can be very time-consuming. Here are a few tips.
Beginner tip: For less than $150 in talent, you can create a YouTube version of your video. If you are using content from a stock video, then you can edit the video, add your voiceover and music, and upload the video to YouTube. Here is an exhaustive tutorial on how to create a YouTube version of your content.
Consulting before filing
Before you get started, you have to gather the necessary information. This is where you can find out information on how to properly email and upload your video for the search engines. You also need to gather requirements from the media outlet to use in your video.
Backup your footage
The first step is to back up your footage. The best way to ensure that it’s 100% original is to take footage professionally and have it created on a time machine. This ensures that you can use this original footage when filing your business patent. If your computer has dual boot systems, you should use one startup hard drive that you can choose whether or not to backup. For more information on this, see How to Backup Hard Drives.
Early on, it may be tempting to get everything down on paper. Another alternative is to use a software e-book. You can typically purchase this type of software to edit your video. Again, be sure the content is original and that you’ve invested time in editing your content.
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Should you hire a lawyer or can you do it yourself?
If you’re going to hire a lawyer, pick a trademark attorney who’s an expert in your field of business. An intellectual property attorney can also help you with patents and copyrights.
Even before you file your Web or patent application, you’ll need to pitch your idea to your boss if it’s something that could potentially make you rich — or at least make your job easier.
Certainly have your co-workers hold a piece of paper up to their monitor and say, “Hey, we’re starting our own business. Can you hold our SEO stuff for us?” Related stories:
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Those are some of the best no-brainer ways to protect your business idea, but it’s always good to have some backup when you’re unsure. Let’s move on to the second step: researching your business idea.
Your business idea may have been nipped so close to the bad thing that you’ll need someone who’s fairly familiar with it to sneeze into it for you before you make a test run. You can find some excellent prospects in the Forum. Once you’ve identified an idea that strikes a good chord with you, follow the recommended practices for intellectual property attorneys to try and clone that idea and connect with you.
Now it’s time to go beyond paper and explore the internet. Start reading user reviews, forum communities where people talk about the same topics, and the like. You don’t have to go deep all of the time — just follow any relevant guides or blogs to understand your potential customer base and the general attitude they have about your idea.
Otherwise, deep in the rabbit hole, you can dig into SEO and visit Moz and other resources to understand your brand and what your customers want.
** What is required during the process?**
What is required during the process? 1. A questionnaire 2. A face-to-face interview 3. A writing test 4. A phone interview 5. A video interview
Partnering on a Business Idea
Before you can find a business partner, you have to get on the same page as to what your business idea is. Every business has different requirements & goals — so the process of defining your idea can differ based on your business. If you already have a valid business registered with the government, be sure to check your eligibility here.
Make Sure Your Business Has a Unique Selling Point
Businesses face competition all the time, and winning the "high-risk, high-reward" bet with a new business idea oftentimes requires a unique selling point (UKP). For example, an Internet subscription business hot spot may be a great choice to provide a home delivery service for your tenants. People like convenience, especially when it comes to delivery, and as an Internet subscription business, your offer will stand out among the competition.
What is No. 1: Technology? While having the right team and technology is essential for a successful business idea, us entrepreneurs are avoiding this tactic because at the end of the day, only you can decide whether or not this idea is viable. What a great example for one of our DBA authors, Colby Almond, is Dropbox, a peer-to-peer file sharing and Dropbox-hosted app marketer. He got started in the business by sharing his Dropbox folders and software hack-together with fellow entrepreneur Michael Aagaard. The two developed a Dropbox app that offered small business owners a way to intelligently organize and share files across the globe.
In addition to knowing the ins and outs of technology, there are a number of other elements that are essential to make sure your idea will be feasible from a money and time perspective.
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** Fees involved in filing patent applications**
There are fees involved in filing patent applications, so you need to know how much you’ll have to pay. Patent applications are submitted to the UKIPO, which charges a fee for filing. The UKIPO charges different fees depending on the type of patent you’re filing. All applications cost about $160.00. You can eat that cost or you could pay an attorney to pro-actively manage the process. These attorneys will also charge a fee for reviewing the application, and collecting a fee for completing the patent application, usually 5% of the total fee.
Take some time to consider the pros and cons of going the patent application route. Besides the fees, you’ll want to consider the following:
Cost — filing a patent application is relatively inexpensive and the process allows you to protect your business idea before hundreds, if not thousands, of potential customers.
Security — Unless you get a lot of publicity for your business idea, an impressive application will help protect it. If someone steals your idea for a commercial product before you file your patent application, they won't be able to use it because you've covered your original idea with your protection.
Work — Once your application is filed, you can work on it whenever you want, and your attention won't be focused on a cool new invention you want to sell. You can focus on marketing your business instead.. Platform
First, you’ll need your website. A website can include your business’ name, address, phone number, descriptions of the services you provide, and general product/service information.
How important is a website? Prior research from Go Fish Digital indicates that each website is searched approximately a hundred times a month. This number can increase to more than one million annually if you offer a free product or do something special.
Every website is different and requires careful consideration. For a step-by-step on how to determine whether or not your business website will survive years of online search, see this article.