Should You Patent Your Idea?
Getting a patent has nothing to do with your ability to execute. Nothing.
Maybe you can get a patent for your idea, and maybe you can’t. Here are a few things to know about what patents can and can’t do for you:
A. A patent may not block someone from implementing your idea. I’m not a patent attorney, but I’ve been involved in several patent infringement cases over the years. And the sad reality is there is usually a way around most patents. And…
B. Patents fall into two ranges: broad and narrow. A narrow patent covers the implementation of how you do something. A broad patent covers the concept of what you are doing.
It is much more difficult to get around a broad patent than a narrow patent. And..
C. Patents cost money. You’re going to need a good patent attorney that specializes in your area of expertise. Then you’re going to need to think about where you are filing your patent.
Are you going to file your patent just in the United States? What about Europe? What about Asia? Each place you file costs more money. Speaking about money…
D. How are you going to enforce your patent? Let’s say a large company like Facebook infringes on your patent. How are you going to fight Facebook?
You know the old saying about, “Where does an 800 pound gorilla sit?” That’s Facebook. And Facebook will sit anywhere they want to sit.
So what good are patents if they cost so much money and aren’t enforceable in many cases?
That’s a great question. Here’s a thought process of how to think about patents when you are starting out:
- You absolutely want to patent your unique IP, because…
- The patent may act as a reminder that your IP is proprietary, and…
- The patent may be useful as a bargaining chip to cross-license, and…
- Eventually you may have enough patents that you can play offense instead of defense with your patents, but…
- You’re just starting out, so you’re going to be pragmatic and understand the limitations of what patents can and can’t do.