PATENTS

So you've invented what could be a multi-million dollar invention. Now you want to know how best to exploit it. That is, you want to bring it to market without losing your proprietary interest in the invention. What should you do?

Well, you can keep it a TRADE SECRET, but there are problems involved with this strategy. The biggest problem is keeping your invention a secret. If the secret gets out through your own negligence, getting it back can be as hard as putting toothpaste back in the tube. Even if you are earnest in your measures to keep your invention a secret, someone else could legally learn your trade secret, perhaps by conducting her own research. If that happens, you have no control over what she does with the sam e invention.

What is the alternative? Get yourself a patent! The following paragraphs explain what a patent is, why you may wish to obtain one, and how you go about getting one.

What is a patent?

A patent is a grant of a right by the United States government to an inventor to exclude others from making, using or selling the patented invention. A patent is a POWERFUL TOOL. With it, you can prevent others from exploiting your invention without your authorization. Thus, patents are sometimes (inaccurately) referred to as monopolies.

Why did the framers of the Constitution provide inventors with such a powerful tool? To encourage the dissemination of technological information. The quid pro quo for receiving a patent is that you must explain to others how the invention works. The n, after the patent has elapsed, anyone can exploit the invention, and society benefits!

Why should I obtain a patent?

To discourage copycats, of course. Or, as patent attorneys refer to them, infringers. Anyone who makes, uses or sells your patented invention during the life of your patent is an infringer, and the law provides ways in which you can seek redress agai nst such unscrupulous characters.

Patents can also be used TO MAKE MONEY!! This can work in one of two ways. You can license rights in your patented invention so that others can practice the invention, in which case you retain some rights to the invention. Or you can sell the patent outright, or what patent attorneys refer to as assigning the patent. Either way, the initial investment in obtaining a patent sometimes can result in large financial returns.

How can I get my own patent?

We thought you'd never ask. You obtain a patent by filing a patent application with the United States Patent and Trademark Office ("the PTO").

Only two persons can apply for a patent, the inventor and someone admitted to the Patent Bar. If you are not savvy in the ways of the PTO, you are better off receiving help from a qualified patent attorney. Ask around. Some of your colleagues may kn ow a good patent attorney. Your patent attorney need not practice in your geographical area. Thus, you can choose a patent attorney from anywhere, including this web site. The patent attorneys at Bullwinkel Partners, Ltd. can be reached by E-mail at geb@bullwinkel.com or by telephone at 312-201-0777.

Two more things to know: First, in order to receive a patent, your invention must be NEW, USEFUL, AND NONOBVIOUS. You can't patent the internal combustion engine - it's already been done. "Useful" generally means that your invention must r eally work. Thus, no patents on perpetual motion machines.

Second, there are statutory deadlines for filing patent applications that your patent attorney can bring to your attention. So too much delay is not a good thing, and may preclude you from getting a patent. Good luck! Let us hear from you!