-1.png?width=186&height=153&name=Logo%20(1)-1.png)
Patents
What is a Patent?
Updated on: July 26, 2024 · 6 min read
As a team dedicated to innovation, we've spent significant time learning about patents and their impact on protecting ideas. Our founders have filed over 40 patents and built a strong network of patent attorneys and innovators. Through this experience, we have gained invaluable insights into the into the what, why, and how of patents. This guide is our way of sharing what we've learned—helping you understand the basics of patents and how they can protect your ideas.
Whether you're a seasoned inventor or just starting out, we hope our experience will make the patent process a whole lot clearer.
Why you need a Patent...
Firstly, here’s how securing a patent can be a game-changer:
Exclusive Rights: The patent holder can exclude others from using the patented invention without permission. Without a patent, you essentially waive any legal claim to your invention.
Competitive Advantage: Patents provide a competitive edge by safeguarding your unique innovations and maintaining your market position.
Increased Valuation: A strong patent portfolio can significantly increase your company's valuation, making it more attractive to investors and potential buyers.
Start-ups that leverage a combination of IP early are 10 times more likely to raise VC and are 3 times more likely to achieve a successful exit.*
Keep your idea confidential
Patents require absolute novelty; any public disclosure can jeopardize future patent filings. The minute you breach secrecy most worldwide patent rights are gone.*
*United States Patent Trademark Office
Once you file your patent application, it becomes patent-pending, allowing you to safely discuss your invention publicly.
If you need to chat about your idea before filing, just make sure the other person signs a nondisclosure agreement (NDA) first. An NDA is a legal contract that keeps shared info confidential and makes sure no discloses about your awesome idea.
How we would file a patent
Step-by-Step Process for Filing a Patent
Step 1. Dream Up Your Big Idea
Capture everything, write down every detail—sketches, notes, and diagrams of your invention.
Every bit of documentation counts—whether it's scribbled on a napkin or sketched on a tablet, make sure to date it and make it official.
Step 2. Craft Your Invention Story
An Invention Disclosure Summary (IDS) is your invention's story in an organized package, what it does, how it works, and why it's unique.
The form is typically prepared early in the invention process. It helps inventors evaluate the invention's potential and serves as a foundation for drafting the formal patent application.
Plus it is a neat document that puts your ideas on paper.
Step 3. Create the Patent Draft
This is where you detail your invention in legal terms. To get a patent, your idea must meet three main requirements: it needs to be novel, inventive, and non-obvious.
First off, conduct a patent search to ensure your idea is truly novel. Most national patent databases are accessible online, so you can check if something similar already exists. The most important part of the search is knowing what makes your invention unique.
Next, your patent draft with should contain a combination these key components:
Title of the Invention: Keep it short and specific.
Request: Include details about priority claims and the parties involved.
Description:
-
-
- Background: What was the state of the art before your invention?
- Brief Summary: Give a quick overview of your invention.
- Brief Description of the Drawings: List each figure and what it shows.
- Detailed Description: Explain your invention in depth.
-
Claims: On a separate sheet, outline the technical features that define your invention’s exclusive rights.
Abstract: Write a concise paragraph (under 150 words) summarizing your invention on a separate sheet.
Drawings: Include visuals that help explain your invention and make it easier to understand.
For a more detailed guide on drafting your patent application, check out the Patent Drafting Manual from World Intellectual Property Organization (WIPO). Typical parts of the patent application are covered on pages 36-38.
Want more help with patents and intellectual property? Learn more about what we do and how we can support your journey from idea to patent.
Types of Patents
Remember, patents are territorial, and usually can differ on the national level. For example, the provisional patent is offered by the USPTO but not the European Patent Office.
Utility Patent
A utility patent protects the way an invention works.
Design Patent
A design patent protects a product's design. Design patents cannot protect any functional benefit that the design may confer.
Provisional Patent
A provisional patent is a temporary application that holds your place in line with the patent office, giving you up to one year to refine your invention and file a full patent application.
In Europe, there's no direct equivalent, but you can still secure a right of priority for twelve months from when you first file your application.*
Cool Patents That Made Us Smile
Contact Us
Email: support@clearip.ai