Inventors: When to get a patent for your new product

Inventors with a new product concept are rightly concerned with IP protection. They sometimes ask if they should invest in a patent for their new idea ASAP. Renaud and Andrew join Adrian to cover this topic here.

You’ll learn about types of patents, their cost, when a product is most likely to benefit from being patented, best practices for protecting your IP that you can follow before you file a patent, and plenty of examples of real businesses that had legal issues related to patents or who got to market successfully by being smart and careful about IP.

 

Listen here!

Listen: to the podcast episode

Watch: on Youtube

 

Episode sections

  • 00:00 – Greetings & today’s topic: Patents for new hardware products.
  • 03:33 – IP protection Basics 1: Always sign an NDA when disclosing the product concept to people in the industry.
  • 04:58 – IP protection Basics 2: These actions will get your product idea copied early.
  • 07:14 – The different types of patents.
  • 10:39 – Approximate costs for patent applications and PPA timeline.
  • 17:24 – If patents are too expensive, what alternatives are there for protecting IP?
  • 22:04 – The 2 main fears of people launching a new product.
  • 33:32 – The dangers of going to investors and pitching your new product idea.
  • 36:37 – What to do if you have a ‘home run?’
  • 39:17 – What if your product is not a home run?
  • 41:14 – Which version of the new product really needs a patent?
  • 46:20 – The dilemmas you face: To patent or not, and when to get a patent?
  • 50:39 – Summary and wrapping up.

 

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