The Benefits Of Business Patent Registration In Arizona
The Pros Of Hiring An AZ Intellectual Property Attorney To Help You Register a Business Patent
You and your business partners have created an exciting new invention or process and are ready to start earning income on your hard work! Before you share your design and start manufacturing, it’s crucial to contact an Arizona intellectual property lawyer to help you file for a patent to protect your hard work.
What are some of the benefits of hiring an attorney to help you register for a business patent?
The Basics Of Business Patents
A patent gives you exclusive legal rights to your invention. It gives you and your business, as the owners, the best opportunity to profit from your invention or process. Additionally, filing for a patent gives you legal recourse if someone else copies your ideas.
Sometimes, inventors or companies are not in a position to produce or market their invention using their own resources. As a form of commercial and intellectual property, patents gives owners the ability to:
- Negotiate with investors and business partners while also protecting their intellectual property rights.
- Legally and safely license someone else to manufacture your invention under contract.
- Allow you to take legal action against people who use the patented invention without your permission or who steal your ideas.
When you file for a patent, you put yourself in a position of being able to gain profits from your work, encourage confidentiality for further research and development, and gain incentive for new investments for your business. In some cases, you may even be eligible for tax incentives for the profits from your newly patented product.
Deciding Whether To Register For a Patent
If your business has developed or improved a device, substance, method, or process, you’ll need to decide whether registering for a patent with an Arizona copyright lawyer should be part of your business strategy. You’ll need to consider many factors, including the following:
- What benefits your company may gain from owning a patent, and whether the return on investment will outweigh the cost, time, and effort your business will put forth in order to obtain and maintain your patent.
- What countries you are marketing to and who your competitors are.
- Whether your business has the financial resources to obtain patent protection in the countries or locations where you plan to market your patented product.
- Whether a patent monopoly would reduce the risk of someone stealing your intellectual property.
- What the consequences for your business might be if someone else developed a similar invention.
- What would the consequences be if someone else independently developed the same or very similar invention.
These are complex questions, and each business will have its own factors to consider. Your Arizona business attorney is an excellent resource as you and your company work through the decision of whether to patent your product.
Disadvantages Of Choosing Not To Register For a Patent
If you decide not to file for a patent, keeping your process or product a trade secret might be a viable alternative. Or you may try marketing yourself as the first person to develop this invention, which will prevent someone else from obtaining a patent for it. However, the disadvantage of this approach is that competitor companies may be able to reverse engineer your product and use it for their own benefit. Although the process of obtaining a patent can be complex and expensive, requiring special legal skills to draft properly, it has many advantages. The easiest and most effective means of registering for a patent is by speaking to an experienced Arizona trademark attorney to get information.
The Issue Of Confidentiality
Until your idea is completely protected by a pending patent, it’s extremely important to keep it confidential. Revealing your invention or process before applying for patent protection is a common mistake that might prevent you from getting a patent. Your Arizona business attorney can help you draft a confidentiality agreement to use with potential testers, investors, manufacturers, and other business partners so that your ideas and discussions remain secret during the patent approval process. Any conversation you have with your business attorney and patent official about your product will be confidential.
Consult With An Experienced Patent Lawyer In Arizona
If your business is considering filing for a patent, consult with a top legal team in Arizona. Denton Peterson Dunn has the large firm experience you need while providing the small firm personal approach you want. Your success is our first priority! Contact us today to schedule your confidential consultation.