I assume you’re reading this post because you asked me a question about patent law, and I directed you here. It’s a pretty safe assumption that you didn’t find this on Google; law firms spend tons of money on SEO to ensure that their content rises to the top, all in hopes that “education” will supplement their client generation flows. Yet for all of this content, it’s almost impossible to find the single most important thing you need to know about IP:
You (probably) don’t need patents.
No, seriously. I can practically hear you as I type this: “but how will I protect my idea?”
You won’t.
The average patent infringement lawsuit in the U.S. costs around $2,000,000. And that’s for a single lawsuit – so if you’re intending to sue multiple competitors, expect to pony up some serious cash. Not to mention that this assumes your ideas are patentable in the first place, and that you spend the money (~$30k per patent all in) and time (~2 years) to get them there.
But what if your idea is really good?
Still no.
Then how will you be able to license it to a tech company for millions?
You won’t. The “invent and license” fantasy is an attractive one to many would-be innovators, but the reality is that finding someone who wants to put the time and effort into developing and producing your invention is extremely difficult. I won’t go into much more detail about this, but feel free to check out this article from Inc.
But you’re a business owner! Doesn’t your business need patents?
Not generally. But if you’ve made it this far–and you’re thinking about patents as part of a larger business strategy–we’ve got something to talk about. Even still, most businesses have no need of patent protection. Patents are primarily useful for companies that a) are driven by technical innovation (not just business innovation) and b) are large or are trying to become large–while many tech startups fall into these categories, many do not.
If you have a tech startup:
Head on over to my Startup Patent Primer.
If you don’t, but you still think you need patents:
Consult a patent attorney. Most will be happy to take your money and file something, but remember that you’re paying for attorney time, and there is no guarantee that the result will be worth anything to you.
Note: there are of course exceptions to many of the general truths I mention here, and if you think one may apply to you, please consult a patent attorney licensed in your jurisdiction. This post is not intended to substitute for or otherwise serve as legal advice.