How To Make Money With A Patent: My Guide For Determining If You Should Patent Your Idea, Part 2
This is the second post in my series entitled “How To Make Money With A Patent: My Guide For Determining If You Should Patent Your Idea.” Please click here to read the first post, and learn from Thomas Edison’s mistake. The Biggest Problem In Patent Law The biggest problem in patent law is not bad laws, bad court decisions, or bad science. The biggest problem in patent law is a failure to think. The critical question is: will this patent add value? If you can’t figure out how you are going to make money with a patent, then you probably won’t. To understand how to make money with a patent, you need to understand a few basics about patents. Seven Things That Everyone Should Know About Patents! You Or One Of Your Employees Must Have Invented Something To Apply For A Patent — You cannot patent the invention of another. You Must Pay To Obtain A Patent — The government does not notice your invention and award a patent to the inventor. Instead, an inventor or assignee (owner) must pay to draft and file a patent application. Further, the owner of the patent application may have to pay even more…