LOW COST PROTECTION

LOW COST PROTECTION
http://www.frompatenttoprofit.com/Low-cost%20protection.htm



The famous innovator, Benjamin Franklin, once said, "A penny saved is a penny earned." In today's world, this equates to "thousands saved are thousands earned".

Just like Franklin, you can turn your ideas into profitable products if you know how. But invention development is not a simple process and can cost you thousands. Or, you can save it instead.

There are several ways to save money and avoid some pitfalls:

• Don't get emotionally attached to your invention. When it requires redesign, do it!
• Use common sense. Most creative people prefer inventing and creating over everyday, practical business matters.
• Don't rush out and hire a patent attorney. Inventions invariably go through a metamorphosis. Don't make the mistake of spending thousands on a patent application you'll abandon later on.
• Do a preliminary market study (not one from an invention promotion company!) before investing.

Learn what it takes to be a successful inventor and you'll have a lot of fun developing your concepts. Here are a few ways you can save a lot of money:

• Use an invention disclosure to establish your first to invent rights. It's free. Then keep a journal.
• Do your own patent search. We'll show you how.
• Start with a provisional patent application. It only costs $100. You can even write your own.
• Start out with a crude prototype. Have manufacturing partners or licensees do the final prototypes at their expense.
• License your patents (or patents pending) if start-up costs are too great or you don't wish to go into business.

If you're not sure what all this means, don't worry. There's a lot to learn and we're going to give you the keys to success. Are you ready? Next, learn all about low-cost protection.

Dr. Salk's polio vaccine is an excellent example of low cost protection. You can apply this same concept to your invention development and legally protect your rights.There are several initial low-cost steps you can take to protect your ideas and inventions. The United States is a "first-to-invent" country, not "first to file". The inventor who can prove he/she was the person who came up with the idea first, is the one who will be considered the first, true inventor. Here's how you can legally do this for just a few cents:

1. Write an invention disclosure. This is a description of your invention which establishes your date of original conception.
2. Reduce it to practice. This second step means you show it works the way you say it does. Normally this is done by keeping accurate records in a journal.
3. Trade secret protection. After establishing your first to invent rights, you can use confidentiality agreements and maintain your rights to an invention as a trade secret.
4. Provisional patent applications. For $100 you can file a patent application and legal right to post patent pending on your invention.

With proper documentation to establish your first to invent rights, you can actively start pursuing manufacturing and marketing partners, licensees and financial assistance.

When you start contacting your manufacturing and marketing partners, you really don't have to have a patent pending. You can use confidentiality agreements to effectively preserve your rights. The confidentiality agreements we have in our Resource Guide are tailored for inventors. They are a perfect way to preserve your trade secrets prior to patenting. This is just another form of low-cost protection in the From Patent to Profit system that you can use.