To get a bit more specific with the question, do you need to
wait until your product is fully developed or ready to ship?
Or until you have investment, until you have a team, until you
finish that one last project you’ve got to do before you
finally make your intellectual property a priority?
No, you really shouldn’t wait on this. The longer you wait,
the tougher it will be to get the right patent application.
Unfortunately, the way the patent rules are set up in most
countries, if you want to file a patent you need to do it
before any public disclosure of your idea. This happens pretty
early in the life of most technology startups (especially
given investment pitches and any conversations that aren’t
covered by a confidentiality agreement), so to be completely
honest, considering patents is one of the first things you
should do. Remember, we’re not applying yet (that comes in the
last module of the program, Module 9), we’re just starting the
prep work.
Research shows that having one or more patents increases the
amount of investment you are likely to receive, and improves
your chances of getting investment. So it’s far better to have
your patent first before pursuing a significant investment
round.
Also, while working through the first phase of the program,
we’ve had many clients uncover patents that led them to
pivot or improve their technology. You definitely want to do this to ensure you’ve got the
best product on the market and the best chance at receiving an
issued patent down the line.
Even before getting your patent, you will need to understand
your patent opportunity, which is exactly what the Product
Protection Playbook™ Course helps you do. So if you’re worried
you’re too early, start with the course. Modules 5 and 6 are
specifically set up to help you nail down the perfect timing
for submitting your initial application!
