| I'm in the same boat, my provisional runs out in April, and am wondering what to do. I lodged the provisional myself and save a few $K. Here's my current thinking, over the course of the patent it will cost around $250K or more over 20 years. If I had $250K now would I spend it on my patent? Right now, I'd much rather have the $250K so from the good investment point of view - the answer is no. What about the possibility of someone else patenting it? Well since the provisional has been lodged I don't think that's possible once the product is in the public domain, so from that angle I'm safe. Can someone reverse engineer the patented bit? If they can what investment would they have to make to build a competing product, i.e. are there any other bits that aren't in the patent but are hard / risky. If a competitor has to make a large investment to catch up to you, then they may be better off just buying your company. Will this be the only invention you ever make? If you're young and you've got something patentable already then most likely it wont be your last. It's not my first and I know it's not my last, once an inventor - always an inventor. Someone mentioned it's good to have a patent on the resume, from my experience it can scare the hell out of some employers, so that's a bit of a 2 edged sword. Perhaps the bit that get's stuck the most in my craw is that I'd be paying thousands of dollars to some patent guys who sit in a nice office and wear expensive suits and silk ties while I'm busting a gut making a startup, it's petty I know but it really gives me pause. I figure if they have all that money then there is a lot of cream on top of the patent industry. The other thing to consider is how much time it takes to write a patent application. I know for myself it was a few weeks to actually write the provisional (and this was time well spent as I defined what I'd actually invented and found out a few other things along the way). It also takes time to work with the patent guys, don't underestimate this. You have to have meetings, review there work, make changes and so on. I figure if my products successful, then by the time it reaches the point where I had to worry about patent infringements and so on I will have made more than enough money for me and I'll be doing this to grow to the next step.It usually takes about 5 years for a patent to be approved, 5 years is a long time in software. The conclusion I've come to is it's a big boys game, and if you want to play then you have to pony up the cash, either get the cash or get investors who have the cash otherwise do what you can to protect yourself and move on. Of course it depends totally on what you're patenting - if it's a major breakthrough then it may be worth getting investors. If it's incremental then execution probably matters way more than whether or not you have a patent. hth. |
If you're still in startup mode, the following two questions should help you make the decision:
- do I need it right now?
- can I spare the money right now, if not: can I make a deal with my IP attorneys where they agree to bill me later? (just think about the money you need to spend the coming couple of months, the total estimated cost over 20 years is completely irrelevant at this point)
If both questions are answered with a 'yes', do it. Because if you need it right now, it doesn't matter how inconvenient the distraction from working on your product is right now, as a founder you'll just have to deal with it. And if you don't need it, don't do it, because I'm sure you can find some other thing you need to do 'right now'.
Don't let the idea that you already spent money on the provisional patent cloud your judgement about whether you should put more money into this. If you can't come to a rational decision, and the prior expense is what pulls you over the fence emotionally, it's probably better to cut your losses.
Good luck, these kinds of decisions are hard, especially deciding whether you 'need' something. That's something only you can assess, it could help to get a second opinion from another IP attorney, preferably one that doesn't have a financial incentive to sell you on going for it.
- Dirk