About the Patent Process

As an amateur inventor who was listed as the Who’s Who of American Inventors, I know a lot about the benefits and pitfalls of the patent process. In the end, the ability to put my name, Geoffrey Vanderpal CFP(R), CLU, CFS, RFC(R), CTP, MBA, DBA, onto an accredited American patent, is what really mattered, and this site will help those interested in the patent process understand exactly what this undertaking entails. A patent may seem like a great deal of trouble, there is a multitude of paperwork, fees, and bureaucratic processes that hinder hopeful inventors from releasing their products. However, it is always in the best interest of an inventor to struggle through the patent process because it is the only way to ensure your invention receives the proper accreditation. This site is designed to help you understand all aspects of the patent processes. For further information about my work or other patents, please visit the links page.

Benefits of Patenting

New ideas are a precious commodity in the modern world and people will go to great lengths to get their hands on innovative new thoughts, and in some cases this even involves stealing designs. To guard against intellectual property invasion, one must attain the appropriate property rights from the U.S. Patent and Trademark Office. These property rights prevent a third party from creating, distributing, selling, or using your invention without explicit consent. Property rights also ensure equity in the service or product you have patented, increasing the market value of your business while increasing assets.

If a product is truly innovative and successful, patents can also offer important financial options. If you feel the patent has short term benefits, you can sell your company at a profitable price or independently produce it. If there is a future prospect and you want residual income, licensing becomes a viable option too. From either perspective, a patent dictates your finances in a manner that is controllable and profitable. A patent costs money, so there is no point in patenting an invention unless the idea is marketable. Make sure the invention addresses problems that current consumers are having, not what you as an inventor assumes is helpful, because this disconnect usually leads to unsuccessful business ventures. Do your homework, not just in terms of financial feasibility, but also in the marketing area. Your invention may be the best thing to happen to consumers, but if they’re uninterested in it you’re doomed.

A patent costs money, and there is no point in patenting an invention unless the idea is marketable. Make sure the invention the problems that consumers are having, not what you as an inventor assume. This is what usually leads to unsuccessful business ventures. Do your homework, not just in terms of financial feasibility, but also the market place as well. Your invention might be the best thing to happen to consumers, but if they do not want it, you are doomed.