What is a Patent?
A patent protects the way a device works. A granted patent provides you with a twenty year monopoly on your idea, protecting this intellectual property from imitation and allowing it to be sold or licensed.
What does Patent Pending mean?
Patent Pending refers to a situation in which an application for a patent has been filed but is not yet at a stage to be granted. When an application for a patent is filed, it is lodged at the relevant patent office of the jurisdiction for processing. Although the time for processing a patent application may vary depending on the nature of the patent application and the jurisdiction in which it is filed, there is often a backlog of patent applications queued for processing in patent offices worldwide. Therefore, a product or service marked Patent Pending may have such a status for a period in excess of 4 years. The Australian patent office is called IP Australia.
Once a patent application is granted, Patent Pending status is no longer applicable and is normally replaced with the Patent number.
How do I improve my chances of obtaining a granted patent?
Lodging an Australian provisional patent application with IP Australia is usually the first step in obtaining patent protection anywhere in the world. Before reaching this Patent Pending stage, however, it is essential to consider the preparation of the patent application itself. This is a highly specialised process that combines both technical expertise with legal know-how.
As intellectual property is such a valuable corporate asset and because the quality of the drafting of the patent application dramatically impacts on whether copiers are able to find ways around it, patent applications should always be prepared by a patent attorney. Patent applications should be drafted without any undue limitations to provide the best chance of stopping a competitor copying the invention.
How do I get the best results while my patent is pending?
Commercialisation of your invention should be at the forefront of your plans. The strategy you employ should be tailored to meet the needs of your business and maximise the profit you can extract from your product(s). The benefit of retaining professional services for the development of a commercialisation plan is that you can build on the market experience of a commercialisation expert, gaining valuable insights that help you save time, avoid pitfalls and maximise the returns on your intellectual property investment.
Important Disclaimer: The information on this website is not legal or professional advice. The information may:
- not be correct;
- only relate to the law or practice in a given country; and/or
- be outdated.
For more information, please contact the Site Administrator: Baxter IP Patent Attorneys Sydney.