What Do You Do If someone else Already Patented Your Idea?

It hit you like a ton of bricks; the celebs aligned and you also had your eureka moment: you created a fantastic break through for a how to pitch an invention to a company! You threw together a prototype to see if the concept would work, also it did! Then you hopped on the search engines Patents and started searching to see if someone has patented your idea. You sorted through countless patents and finally found the one that looks a lot like your idea. What else could you do?!? Fortunately, there exists a whole lot that can be done and often you may still pursue your idea and succeed, even if somebody else has patented the idea.




First thing you should do is carefully examine the patent and find out can this patent really describe the same thing my idea does. Or even, or otherwise not exactly, you'll want to consult a patent lawyer to see if you are able to patent for this existing patent and have reasonable protection.

What if someone else patented your idea exactly? You want to check to see if the product is available. Check the internet and stores to see if you will find it. Or even, get in touch with names or company in patent. Question them if they're selling their product or maybe they have licensed their patent. 97% of patents never make any money, there is really a good possibility that they aren't selling or haven't licensed this product.

Before we go further, we should speak about why 97% of patents never make money. Large corporations make an application for and receive many patents they never intend to pursue or aren't certain that they'll pursue, which makes up about part of this 97%. Additionally, there are patent trolls who submit an application for patents to later sue others, this makes up about thing about this number. Nevertheless the major reason that many patents don't make money happens because it is sometimes complicated to bring a product to promote. Inventors that don't try to find help can have an especially problem because so many inventors work great about picking out creative new means of doing things but are really bad at in operation or finding out how to set up a sales network. Therefore a patented idea didn't earn money, that will not suggest the thought is bad. Most likely the business behind the idea was run poorly or perhaps the product wasn't formulated and packaged in a manner that would excite customers. This is important to keep in mind and there's great example of this below.

Therefore if the inventor or company listed in the patent says they aren't selling the product and no other person has licensed the thought, let them know that you may be interested in licensing the concept from them. Before you decide to accept anything, be sure you did study. You must learn in the event the market opportunity is large enough to guide the item of course, if men and women notice the strategy is the answer (if you'd like assistance with this, we could give you Consulting or Invention Evaluations). In the event the product has got the potential, start licensing negotiations together. It's impossible to state in an article what terms to work out, because if the thought is practically prepared to provide market, you will have to pay them back more, when the idea is merely on paper, you ought to outlay cash less.