Is owning a Patent like winning an award? To be put on the wall with the rest of your life’s achievements. To be admired and bragged about when your friends and family stop by to visit. Maybe dust off the old prototype and show whoever wants to see just how it works.
In my world, to own a Patent or in my case a Patent pending status means I’ve just put my foot on the road to success or so I had hoped.
It was strange to talk to people at different trade shows that owned several Patents but were still pitching new ideas because the old idea didn’t sell. This tells me that just because you own a patent doesn’t mean that your invention will be a success let alone earn you any money as described in this article very well – https://gatesiversen11.wordpress.com/tag/inventhelp-commercial/.
In fact it prompts me to ask the question, “Do you actually have to patent an invention before you can market it”. The answer is “No” a patent by its self can cost several thousand dollars and that’s not the beginning. You start with patent searches, prototypes, market research etc before it’s all over you’ve spent not hundreds but thousands of dollars.
A lot of idealist / inventors are blinded by the thought of their invention being a success and are completely unaware of the money there spending. Plus being told that you must have patent protection on your invention so no one steels it or before a company will consider looking at your invention. In some cases this may be true, but on the other hand how smart is it to spend thousands of dollars on an invention that doesn’t sell or no one is interested in. Not smart at all. Learn how to do it right – https://joannschoolcraft.wordpress.com/tag/inventhelp-locations/.
After doing years of research and speaking with different inventors, idealist, entrepreneurs etc. I found that you don’t have to spend thousands of dollars on a patent before you know if that idea for an invention has the potential to be a success. There are ways that will let you research, develop, test market and make deals without spending all your hard earned cash up front.