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Information-hub/Patents/Should you file a Patent

Should you file a Patent

It really depends on your circumstances.

For example…. if you have not developed your idea, do not have the resources to employ a patent agent and have no experience is drafting and writing a patent, the question we would ask is - ‘what do you hope to achieve ?’ What’s the point in compiling and filing a patent when there is no hope in capitalising from it, when it provides little in terms of protection and can easily be circumnavigated.

Likewise, if you have commercially developed your idea, can employ a patent agent and have the resources to commercialise its potential, then a patent based on a commercial and validated specification is incredibly valuable.

Whilst patent rights are not essential for the sale of production units, they are essential if you wish to license, sell your IP rights or need to raise funding. Very few potential licensees, buyers and investors will support a project without a granted patent in place or is likely to be in place i.e. the legal right that creates a competitive advantage.

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