Filing for a patent is a very expensive investment in one’s product. Because many small businesses can not afford to spend precious capital for a product’s patent that will ultimately be a flop, filing for a provisional patent is a much wiser choice. The article, Know More About Provisional Patent Application, on What’s Patented, explains the many benefits for inventors if taking this route.

An article on IPWatchdog suggests that the cost to patent a simple invention begins at $5,000 and goes much higher as the complexity of the invention increases. For many inventors and small businesses, investing that kind of money into a product that may or may not succeed in the marketplace is too much of a risk. That is where a provisional patent comes in to play:

“Many a times, companies use a provisional patent to buy time to test their invention. So, during the testing time, the invention stays protected. If the invention proves to be successful, the companies can go ahead and invest in the process of buying a patent. And in case, it does not seem to be working, further costs of investing in a patent can be ruled out.”

The provisional patent is good for one year allowing companies the ability to test their product in the marketplace, further develop the product and decide if investing the thousands of dollars required for a patent are in the company’s best interest.

Catherine Lamsfuss, August 12, 2011

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