Got an idea, are you trying to make money by applying for a pre-patent and selling it to others? You are not alone; a lot of people want to know. The truth is, this is unlikely, but there are better ways to “sell ideas”.
Can you sell temporary patent applications? The quick answer is yes, it is possible. However, this rarely happens. By selling temporary patent applications, ideas can be sold without proven market demand. Convincing buyers to take risks and invest before filing for a patent is an extremely innovative idea.
If you are sure that your idea is good enough for sale, let us get all the information you need on patent applications and contact the buyers.
Provisional Patent Application
What is a Temporary Patent Application (PA)? In short, it is a placeholder application. It guarantees the registration date, allows people to avoid significant additional costs associated with obtaining a license for up to one year. The downside is that if you applied directly for a temporary patent, you would never get a patent.
This is the first part of the patent process, where we describe how your innovation works on paper and explains all its benefits. Never stand in line for an exam.
Therefore, the non-patent patent application (NPA) is the second part of the patent process where the application is completed and filed for trial.
To begin your initial application, you will need to file a description of what you did with the U.S. Patent and Trademark Office. It costs anywhere from $ 70 to $ 280, depending on the size of the business. Perhaps you need the help of a patent attorney. But the cost will go up in the thousands of dollars. After submitting the PPA, you can mark what you have done as a “patent pending” for up to one year.
This year is a great time to build your business and test the market.
During that year, there will be plenty of opportunities to build your business and test the market.
• Ask the developers for keywords
• Approach customers for their opinion
• Call sales advisers
• Build and test prototypes
• Take measurements
Date of Applying a Provisional Patent
When applying for a provisional patent (PPA), the due date is confirmed even if a non-temporary patent application (NPA) is filed the following year. The NPA will be treated as if it were posted last year. This is useful if another patent application is pending the same process and has been filed between the PPA application and the NPA. You are getting a copyright because your patent application is the best.
Imagine two people running a race with a temporary patent system and first confirming one of them in the finish line even though the race is still in progress.
There are some cases where two people wear the same thing at the same time. In these cases, the patent complaints and the interference board may consider nomination priorities The final decision is given to one party over the other.
How to Sell a Provisional Patent Application
Some people find it impossible to sell temporary patent applications because they are rare. Ruin? It is considered dangerous for a buyer to invest in a product without a proven market demand. You’re basically asking them to take your word for it for your invention to work.
A provisional application for a patent sale will try to think about sales that were pending before a market demand was made. Encouraging buyers to take a leap of confidence and invest before they get patented must be a very innovative idea. After all, a temporary patent application doesn’t mean you’ve proven that people want to buy an invention in the real world.
If you are selling them an idea outlined in the PPA and want to raise funds to support construction costs, you will need to develop a professional multi-data presentation to support your claims. It is better to have more data on why consumers buy the invention. You need to convince potential investors that this is a great invention with commercial value. The best way to do this is to use data. Or you have a business that sells an invention. You can make this information available to the investor. Or you could try to calculate the revenue of the invention based on other similar products or inventions.
Here are some items buyers can look for:
• High demand
• production costs
• Costs of materials
• To plan
• Test results
• Data on return on investment (ROI)
When you approach a buyer, you provide a lot of data. It would be best. If you have surveys that show your invention is in high demand, show them too. Investors love information, especially investment data and statistics.
Nonprovisional Patent Application
The second step to obtaining a patent is if you have filed a provisional patent application if you have already filed a provisional patent application. If you wish, you can proceed directly to submit the postcode and skip the entire PPA. If you are applying for a provisional patent for the first time, at this point you should experience the market and troubleshoot your inventions. Otherwise here is a new product for you! After submitting the NPA, you still have 18 months before the test.
To get a patent application approved for a patent, you will need to show that your invention is:
•Eligible for patent protection
•Novel or new
Once approved by a reviewer, it is easier to sell an idea because it is a patented idea. You could try contacting potential buyers or businesses while waiting. Many or more will ask you to return after receiving a patent as they have no incentive to pay you for your idea if it is not patented. Patents enable them to assess the scope of their patent rights and determine whether the patent rights are sufficient for their purposes. Even with patents, it is best to tailor the market data to your invention needs.