Seek,Your,Fortune,With,Provisi law Seek Your Fortune With Provisional Patents
Bankruptcy is a situation, wherein an individual is termed as unable to discharge all the debts. When a person or a company is not able to pay off its creditors, it has an obligation to file a bankruptcy suit. In fact, a bankruptcy suit is a When you work with an attorney, you will have no problem reducing the risks associated with getting your case in front of a judge and jury, or other formal court, when you need to. However, every case is different. It is important to work wi
Provisional patents give you fantastic leverage. Once you get your earth shaking idea, within a week you can have patent pending standing and begin selling it. You don't need to spend the money for a full patent until you are certain that it is a success.With a provisional patent in hand, you can feel confident that your idea cannot be stolen. You can present it to multiple companies without fear. The enthusiasm and excitement that you have about your revolutionary idea will be your best selling feature.A provisional patent is only a temporary patent. It is only good for one year. If you have not filed a non-provisional patent within one year, your patent will expire worthless. As you can see, time is of the essence. Think of the benefits of filing rapidly and at minimal cost. You could do this multiple times without breaking the bank.Filing Your PatentConsider this scenario: You have an idea that is a disruptive innovation. You feel that it could change a whole industry. If you disclose your idea inappropriately, then the moment (and the money) is gone. It belongs to the public domain. However, you know about provisional patents, and you prepare a detailed description of your idea or invention. The one caveat is that your description of your invention must be accurate or the protection is not there. You must describe your idea accurately. If a person in your industry can't duplicate your invention, then it is invalid. You then submit everything to the US Patent & Trademark Office (USPTO) with a $100 filing fee and you have patent-pending status.Provisional Patents Are Options to WealthNow the fun begins. You can contact the companies in your industry to show them how their products are going to be obsolete with your new technology. When they realize that their business is threatened, if your technology falls into the hands of a competitor, it is very likely that a bidding war will ensue between competitors. Don't you just love a competitive auction when they are bidding on your property. Your reward will be a healthy stream of royalties flowing to you for the rest of your life. Of course, those royalties can be passed down to your heirs.Using Provisional Patents to Leverage Your FortuneWhile this scenario is idealized, it is by no means impossible. Even a smaller result can be very lucrative. The final result depends on the quality of your idea-invention. Another factor is that you don't disclose information about your invention before you get the protection of a patent. Your provisional patent effectively gives you an option that you can use to leverage your way into the realm of big business. Article Tags: Provisional Patents, Provisional Patent
Seek,Your,Fortune,With,Provisi