Why should I own a Patent?

A patent is form of Intellectual Property Right (IPR) which gives inventors a statutory monopoly over the use of their inventions provided their inventions meet the requirements as prescribed under the law.

A patent is a productive commercial asset. Once you own a patent, you may outright sell it for a good amount of money. You may yourself become the sole manufacturer of your invented product. You may also license your patent to a manufacturer and get license fees on a regular basis as you can read from https://openlab.citytech.cuny.edu/gotconcept/elon-musks-greatest-inventions/ post.

In order to obtain maximum protection for exclusive control over your invention and intellectual property, you are required to obtain a patent. Moreover, if someone else independently makes a similar invention and obtains a patent on it, then you will be prevented from making use of your invention.

It is not mandatory to hire the services of a patent attorney/patent agent to file a patent application. However, when you have the legal expertise of a patent attorney in drafting and filing your patent application, then the chances of success in your patent application improve vastly.

Hiring the professional services of a Patent agency, such as InventHelp, or a Patent Attorney can save you lot of hassles and money. A wrongly drafted patent application can cost you hundreds, if not thousands of dollars when rejected by the patent and trademark office for subsequent filings.