Considering the many issues surrounding patents may seem daunting to first-time inventors, but avoiding common mistakes in the patent process will pay off down the road.
(PRWEB) March 31, 2013
Considering the many issues surrounding patents may seem daunting to first-time inventors, but avoiding common mistakes in the patent process will pay off down the road, said American inventor and entrepreneur and creator of Re-String It, Chad Archibeck.
“Not every inventor or developer also follows down the path of entrepreneurship, but for those who seek to launch and manage a business marketing a new product there are several things not to overlook,” Archibeck said.
Archibeck’s Re-String it is a universal drawstring re-threading tool that quickly and easily re-threads anything with a string and solves the annoying and time consuming problem of drawstrings coming out of hoodies and pants.
Re-String It has proved to be a highly successful solution that has been called a ‘must-have’ for any household by numerous users, media and bloggers. To assist aspiring entrepreneurs and inventors with making informed business decisions, Archibeck points out three patent pitfalls to avoid.
1. Public Disclosure and Promoters
Disclosing an invention to anyone prior to filing a patent application is not advisable unless the disclosure is confidential. Also, individuals with a great product idea or invention are often tempted to contact ‘invention promoters’ who may claim to assess an invention, give a report, obtain protection and arrange backing. Be careful who you take your idea to. Best practice is not to talk to anyone—unless they are a patent attorney.
2. For Sale and Public Use
Once you start selling your product without a patent or make it available for public use, your ability to secure a patent is damaged. Without patent rights, when an invention becomes publicly known, there is no legal protection to prevent others from bypassing you and making, using or selling your invention themselves. The patent is the asset that generates income and without one it may be difficult to sell an invention.
3. Not Doing Thorough Market Research
Once a patent is secured for an invention, it’s time to focus on the business side. One survey of US entrepreneurs by Inc. Magazine found that 60 percent had not written business plans before launching their companies. Just 12 percent had done market research. Thorough market research is necessary for business success and will help guide business planning. There are many free market research tools online.
For more information on Re-String it or to purchase go to http://www.re-stringit.com.
About Re-String It:
Re-String It is an award-winning product of CWA Enterprises, which was created to bring the perfect must-have domestic tool to market. Re-String It is a heavy duty, versatile re-stringer that is easy to use and won’t damage clothing. The rounded edge on the adjustable loop enables use on delicate materials. Visit http://www.re-stringit.com for more information.