Provisional patent application and its benefits

Provisional patent application and its benefits

Provisional patent application and its benefits: Most of the time innovators face a choice between Provisional patent application and Regular patent application. They couldn't just decide which one to opt for and why. We at Sagacious research strongly believe that Innovators should go for Provisional patent application and this is not without reason. Provisional patent application has numerous advantages over Regular patent application. The first & foremost importance is that by filing this, Innovators lay the foundation of patent grant for their invention and that is too with minimal fees of $110 in comparison to $420 for a regular patent application. With such a low cost Innovator gets the status of "Patent Pending" which is otherwise not possible and is illegal to do so. The patent pending status proves legally that the concerned person is the legal owner of the invention at least for 12 months and if anybody (any company or individual) independently and accidently invent the same idea could not claim the proprietary of the same. The time period for this patent pending status is 12 months means an Innovator gets 12 months of time to think and rethink about their invention, they get enough time to complete their paper works and negotiate with their financers. It gives innovator ample opportunity to have a strong bargaining position with potential investors, manufacturers and licensees. They get enough opportunity to think whether they should go for the invention or should save the patent fees. They get ample opportunity to decide whether they should go for patenting the idea or should go for Trade secret. They get enough opportunity to define the patentability of their invention without bothering about their idea to be stolen as it has already got patent pending status or in other words a Provisional patent application gives 12 months of legal protection on the idea or invention. Thus this gives Innovators a chance to show promote, and explain their project and idea to various stakeholders without the fear of it being copied or stolen lawfully.

The second important advantage of filing Provisional patent application is that though Innovator files their idea 12 months prior filing their Regular patent application but the patent tenure will be counted from the time when they file for Regular patent application, it means filing a Provisional patent application gives your invention a total tenure of 21 years which is supposed to be 20 years should you file a Regular patent application.

The third important advantage of a Provisional patent application is that unlike Regular patent application it doesn't require any formal requirements like claims and NDA (Non disclosure agreement) rather a specification and Drawings (where needed) are enough to get the patent pending position, it saves a load of time for your paper work and Innovators can devote that much time and energy in negotiating with the potential stakeholders and other important aspects of getting it patented. So for the sake of convenience we can summarize the advantages of a Provisional application as follows:

It establishes an earlier filing date

No formal requirements

Low cost

Low paper work

Gives 12 months of protection on your idea and invention

Gives right to use "Patent Pending" with the item

No other company or individual can patent the same idea without prior approval at least for 12 months.

Innovator gets strong bargaining position with potential investors, manufacturers or licensees

Innovators can show explain and promote their idea and invention to various stakeholders without the fear of it being copied or stolen.

Caution whiling filing Provisional patent application: Though provisional patent application has many advantages over Regular patent application but at the same time it is critical to remember that if it is not filed properly and adequately it may have a more negative impact on your idea. It is generally said that a Provisional patent application is useful to protect whatsoever is written and documented in it. Anything which is not discussed, explained and documented in the Provisional patent application will not be considered as the part of your invention so it is critical to remember that your Provisional patent application should be enough broad and complete. Cutting corners may affect your invention adversely. Second thing that is critical to remember that your idea should be complete means it should be explained in the Provisional patent application in such a detail that anybody familiar in the technology can reduce it in practice, and use it for the betterment of society. A carelessly prepared Provisional patent application is useless and a total waste of time and is not worth getting patent.

Inventors should ensure that all alternatives and variations related to the concerned idea or invention should and must be included in the Provisional patent application so as to avoid someone from copying inferior version of your invention.

As a conclusion we can say that no doubt Provisional patent application is a low cost alternative for a Regular patent application and has a lot of advantages over regular patent application but it is only when it is being filed consciously and meticulously. The broadness and completeness of the application should be decided by an expert in the field as patent granting depends on these two criterions. We at Sagacious Research strongly recommend that innovators should consult an expert for filing their Provisional patent application as it has many legalities and complexities which can only be understood by an expert in the concerned domain as the whole patent granting process depends on it only.

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