Got a great product idea and not sure what to do next…
One of the first things you should consider when you come up with a fantastic product idea is looking at patenting as a form of market protection. I must be clear here and say that patents are not the only form of market protection, if fact many marketing strategies are equally or more important, however it is vital to look at the patent options at this stage.
Innovation, Provisional and Standard patents are not able to be taken out after your product has been disclosed to the market and yes this includes telling your friends. Furthermore, you may or may not go ahead with the application process but researching similar products will at the very least give you a great start.
Research involves two main steps: firstly have a look on the European patent website (this is free) and search engines and secondly go to the stores where you believe the product should be for sale if it was in the market. When you are in stores make mental notes of the prices of similar products.
Now if you do not live in Australia you need to know that patent laws are different in each country so check if you have a patent similar to an Innovation patent. Innovation patents are a great way to start because they are a cheaper option to begin and they offer good protection with the option to upgrade to a Standard Patent or PCT. Also by going this way you will have the best chance to take out patents in multiple markets in the future.
After your initial research it would be helpful to speak to a patent attorney. Many patent attorneys do not charge you for their initial service. This will give you an even better understanding of the patent process and your options. And always remember keep your idea/product to yourself.
A practical example of patents in use is The Breastfeeding Blanket and Bebitza’s Antibacterial range (www.bebitza.com). We hold several patents, Innovation and Standard (many international). They have been very useful so far and we were able to pioneer the nursing cover product category in Australia with The Breastfeeding Blanket five years ago.
Hi my name is Bree Tinecheff and I am the proprietor and managing director of Bebitza Pty Ltd. We are an innovative brand in the juvenile goods industry. I want to help you along in your journey of bringing your product to life. Part 2 of this blog will cover next steps after initial research of your market.
Facebook : www.facebook.com/thebreastfeedingblanket