Overview

Many companies and inventors are often focussed on “if” they can obtain a patent for an invention (i.e. is the invention patentable – at least novel etc.). However, perhaps are more pertinent question to ask is “should” a patent be filed (even if the patent is likely to be granted).

Below we have put together a “rule of thumb” list of factors to assist companies and inventors decide if they “should” file a patent. It is noted the list below assumes that the invention would likely be patentable.

Patent Strategy

Patent Strategy – Should a Patent be filed?

Factors that Indicate a Patent Should be Filed

You are seeking investment or R&D Grants and wish to use the patent application to leverage investment or Grants
Your invention improves or replaces an existing technology that already sells well
The invention may be easily copied by reverse engineering
The invention has the potential to generate revenue of greater than $25,000 to $100,000 over the first 5 to 10 years in the market;
The invention is an improvement on a competitors product and the patent may disrupt your competitor
The invention is an improvement on your own product and will assist to “ever-green” your product
The invention will be of interest to an already active company in the market and that company would likely be interested in licensing or buying your patent and/or invention
You are thinking of selling your company and a patent will add value to the company

Factors that Indicate a Patent Should Not be Filed

The invention has a very short market life span (for example 1 to 2 years or less)
The invention is expected to only sell in small quantities and, for example, generate less that $10,000 over the first 5 years in the market place
The invention can be protected as a “trade secret” (treat this with caution)
Your invention does not really offer any advantage over existing products in the market place
You have insufficient funds for a professionally prepared patent (we recommend to not disclose your invention until you have the funds for a professional patent attorney to prepare and file your patent application.

Patent Strategy

We hope the factors above are of assistance and, of course, if you would like to help you decide whether or not you “should” or “can” file a patent – then please get in touch to arrange a patent strategy session.

Key Contacts

Andrew Caska

Patent Attorney

Andrew Caska is registered Trans-Tasman Patent Attorney and a Fellow of the Australian Institute of Patent & Trade Marks Attorneys with over 14 years of experience in the profession.

Jenna Phillips

Trade Marks Attorney & General Manager

Jenna is our IP & General Manager with extensive experience in customer service, IP process, IP portfolio management and business skills. Jenna is your go-to for all questions regarding the status of your case and general IP questions.

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