About 793,824 patent filings have been left unexamined in 2024 at the United States Patent and Trademark Office (USPTO). This figure means an increasing number of applicants are caught in limbo, waiting for an assignment to an examiner.
One may label an invention “patent pending” as soon as a patent application has been filed with the USPTO. This labeling notice does not convey an enforceable right. The notice merely serves to alert competitors that a patent may, in the near future, be issued. Use of this term can work as a deterrent to someone copying the concept during the time the application is being reviewed.
A patent pending status demonstrates your commitment to pursuing protection for your invention or product. An invention with a patent still pending encompasses several other considerations and implications that may adversely impact the patent applicants and even the market competitors.
Let us now have a look at the term’s immediate implications and what it can mean for your invention.
Understanding the Patent Application Process
Once you have decided to protect your invention, you must know about the patent application process. Like any other step, the process is necessary for protecting your intellectual property or invention.
From this point, start with a thorough search of existing patents and confirm that your invention is, indeed, entirely new. Write down the narrative behind your idea. Include a drawing, your product’s purpose, and the process behind its creation.
File the application with the USPTO, which further investigates your application. Being active and responsive maximizes the chances of success of your application.
The Legal Implications of Patent Pending
When you file a patent application, you get the status of “patent pending,” which has its legal consequences. This phrase indicates a status applied to a product or invention where the legal protection is being actively sought for by the relevant applicant. This sort of scenario can repel someone from duplicating or utilizing such a product or invention.
Remember, an application that has its patent pending does not guarantee complete protection. If someone independently develops a concept similar to yours, it could present a challenge.
Some jurisdictions take any form of public disclosure of your invention into account concerning your rights to the patent. Be mindful of your rights and obligations when attempting to protect your product.
Aside from intellectual property, patent rights have a strong connection with business law, primarily in cases where the invention is associated with a commercial project or a partnership. Knowing how patent protection supports contract relations, licensing, and investment deals ensures that your invention is continually a lucrative business asset. According to business lawyer Michelle Cohen Levy, partnering with a knowledgeable attorney is a smart investment.
Benefits of Having a Patent Pending Status
Patent pending status offers numerous strategic advantages for both the inventor and their business. Investors and partners will be attracted to your product since it indicates that you are genuinely serious about your innovation.
In the meantime, this status may serve as a deterrent against any competitors who may want to copy your idea while you focus on getting your patent. This status can also be a marketing tool for your product, as it shows that you have put forward a lot of effort toward your invention.
Apart from achieving success via patenting, a patent-pending status will help you establish a case for getting funding, as it indicates that your idea has a unique appeal. The pending patent status allows time to perfect the product and design a go-to-market strategy to maximize chances of success. Being patent-pending, in turn, may render your product different from many others on the market.
Risks of Ignoring Patent Pending
Patent pending status, if not considered, may pose a heavy risk for both inventors and companies. Without such protection, these competitors can easily copy your ideas and make money out of your effort.
Not having patented status would weaken your position against any possible partnership or investor offers, as they will want to view you as serious about protecting intellectual property.
If one deterrent found in proper patent protection vanishes, you can find yourself in situations where legal battles will drain your resources. Ignoring patent-pending status will cost you your invention and market edge.
Tips for Inventors During the Patent Pending Phase
The key thing is to be proactive for the protection of your invention during the patent-pending period.
You must first maintain complete records of the invention process. Well-prepared proofs in the form of documents will be your best allies if the need arises. Discuss the concept with a couple of reliable mentors or co-workers. Asking for their views could benefit you in the process of developing your innovation.
Consulting with a patent attorney would put you into the position of making informed decisions. Brand your invention early. Generate interest and support by creating social media profiles or websites about your invention.
Finally, be careful about who else you may be sharing any details of your idea with in public. Do not hesitate to use NDAs where required. Doing this will help you build a community of supporters for your invention and increase its chance of success.
