How to Choose the Right Time to Patent your Product or Brand

If you have a product idea in mind, then you would definitely want to keep it exclusive to you. A patent gives you the right to use, sell or manufacture your product. It protects the product or an idea from getting stolen. Patents are given to ideas, physical products, brands or inventions.

While all ideas may not turn into a great product, patenting them is important to make sure you’ve the time to create and sell it to the world. The next question is how to choose the right time to patent your product or brand.

When you have identified a gap

Products or brands which can fill out a gap in the market tend to be successful. You should be patenting your product if you are sure your product fills a gap. This mean, if the product has the ability to sell, to become useful and has a big market, you should definitely protect it. 

There are so many people who steal ideas and market them under their own label. Also, if the competition comes to know about it, they might make the product before you do. They might have higher capacity of finishing the task earlier. Protect the product before this happens.

If you are not sure about the return on investment on your product or brand, it’s better to analyse things before going in for patenting. Check if you have the budget to pay the fees and also let it go if your proposal is rejected. It is always better to be safe than sorry in such cases.

References:  The Importance of Patents:  It Pays to Know Patent Rules