Patents

Patents are an excellent way of protecting your invention. Patents are a form of intellectual property that grant the inventor of an invention the exclusive right to make, use, sell, or import the invention for a certain period of time, typically for up to 20 years from the date of original filing date. Patent protection can provide inventors with a number of important benefits, including:

1. Protection from Infringement:
   A patent can prevent others from making, using, selling, or importing your invention without your permission. This can be especially valuable if you have a novel and valuable invention that could be easily copied by others.
2. Exclusive Rights:
   A patent gives you the exclusive right to exploit your invention commercially. This means that you can control who uses your invention and how it is used. You can also license your invention to others in exchange for royalties or other payments.
3. Market Advantage:
   A patent can give you a competitive advantage over other businesses that do not have patent protection. This is because you will be the only one who can legally make, use, sell, or import your invention. This can help you to attract customers and investors, and to increase your market share.
4. Increased Value:
   A patent can increase the value of your business. This is because a patent is a valuable asset that can be sold, licensed, or used as collateral for loans.
5. Recognition and Credibility:
   A patent can give you recognition and credibility as an inventor. This can be helpful in attracting customers, investors, and partners.
6. Deterrence of Competitors:
   A patent can deter competitors from entering the market with similar products or services. This is because they will know that you have the exclusive right to your invention and that they could be sued for infringement if they try to compete with you.
7. Access to Funding:
   A patent can make it easier to obtain funding from investors or lenders. This is because a patent is a valuable asset that can be used to secure financing.
8. Global Protection:
   A patent can provide you with protection for your invention in multiple countries. This is because many countries have patent laws that allow you to file for a patent in your home country and then extend that patent to other countries.

Overall, patent protection can provide inventors with a number of important benefits. If you have an invention that is novel, useful, and non-obvious, you should consider filing for a patent to protect your rights and reap the benefits of patent ownership.

Patent applications in Australia will fall into one of two main categories, either provisional, or standard patents.

Provisional patent applications have a very limited lifespan and are useful where your product is undergoing development at the time of filing and usually used as a stepping stone for future complete applications. Provisional patent applications are very flexible and provide flexible options for including improvements to the disclosure.