Did you invented an unique promotional product? Did you had a ‘eureka’ moment at some stage, invention or idea that can potentially make millions?
How do you protect that idea?
If your new business centres on an invention, you should seek a patent for it. How does it work?
– Before you patent a design, you have to discover whether your invention is genuinely new:This can be done at either the Patent Office or the patent department of a public library
– If you are indeed the first to design an unique promotional product – or whatever your grand invention may be – then seek an agent registered with the Chartered Institute of Patent Agents or search bureau
– Next up, you should ascertain whether there is a market for your product and why consumers would buy it ahead of more established brands: the Patent Office or registered patent agents can advise you on this
– You should outline clearly what your invention does and how it works, with mechanical or electrical drawings if necessary, including estimates of how much it would cost to produce both in monetary and material terms, as well as its advantages
– Armed with this information, you can approach the Patent Office directly for a fee of £200, though the process can take nearly two years
– A Patent agent is more expensive – typically between £600 and £1,000 – but you will receive the security of an initial filing that will protect your invention for a year