{"id":5045,"date":"2016-04-04T10:47:54","date_gmt":"2016-04-04T15:47:54","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/smallbusiness\/intellectual-property\/should-you-obtain-a-patent.html"},"modified":"2024-06-13T15:26:13","modified_gmt":"2024-06-13T20:26:13","slug":"should-you-obtain-a-patent","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/smallbusiness\/intellectual-property\/should-you-obtain-a-patent.html","title":{"rendered":"Will My Invention Be Profitable?"},"content":{"rendered":"\n
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Will My Invention Be Profitable?<\/h1>\n
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\n By Christie Nicholson, J.D.<\/a> | Legally reviewed by Amber Sheppard, Esq.<\/a>\n | Last updated\n
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Editorial Note: We earn a commission from affiliate partner links on FindLaw. Commissions do not affect the editorial integrity of our legal content.<\/p>\n\n <\/div>\n \n

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This article has been written and reviewed for legal accuracy, clarity, and style by FindLaw\u2019s team of legal writers and attorneys<\/a> and in accordance with our editorial standards<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n\n

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The last updated date refers to the last time this article was reviewed by FindLaw or one of our contributing authors<\/a>. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please contact an attorney in your area<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n<\/section>\n

Many people come up with fantastic ideas for new products and services. But not every invention is profitable. You don’t want to invest much time and money into an idea only to learn that nobody will buy it.<\/p>\r\n

There are a lot of factors to consider when deciding whether to pursue a patent on a new product. While the patent application is not that expensive, much work goes into patenting your invention.<\/p>\r\n

Here, we will briefly explain how the patent process works and discuss how to determine whether your invention will be profitable. If you are ready to proceed with your patent, contacting an\u00a0intellectual property lawyer<\/a>\u00a0is a good idea. They’ll guide you through the application process and help protect your patent rights.<\/p>\r\n

Why Should I Seek a Patent for My Invention?<\/h2>\r\n

Thousands of inventors submit applications to the\u00a0U.S. Patent and Trademark Office<\/a>\u00a0(USPTO) annually. Some applicants are small business owners who have designed interesting new products. Many startup companies and entrepreneurs submit applications for patent protection or exclusive rights to new service models.<\/p>\r\n

Types of Patents<\/h3>\r\n

Whatever your idea, securing a patent is the best way to ensure nobody steals it from you. There are three\u00a0types of patents<\/a>\u00a0available. These include:<\/p>\r\n