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Informative Articles

It's High Time for Lifetime Savings Accounts
I'm constantly reading articles on the internet and in financial magazines in which so-called financial planning experts express perplexity as to why about 30% of employees do not participate in their employers’ 401(k) plans. These writers don’t...

Insurance Providers Weather The Storm While Consumers Flounder
We have just had the first year’s anniversary of the flash flooding which occurred at Boscastle in Cornwall. The floods saw some of the worst damage wrought by sudden rainfall in the UK for many years. The flood was caused by the remains of a...

Disaster Decision - Do You Need Insurance?
The expenses involved with owning a home can be overwhelming at times - routine maintenance, repairs, seasonal preparations, improvements. Not to mention taxes, fees, and all those monthly bills. Some homeowners, in trying to reduce their...

Compound Interest Doesn't Add Much To Your Wealth
The biggest gripe that I have with a few famous financial planners is their myth and awe of compound interest. They say, "compound interest is the 8th Wonder of the World according to Einstein, and will make you a million for your retirement...

5 Steps To Improving Communication
"Communication is the lifeline of relationships. The health of any relationship is determined by the quality of the conversations between or among the people involved." S. DeKoven Ph.D Like the heart in the human body, I believe that...

 
Filing for a patent

How many times does this scenario happen: You have a great idea. You think you can make millions. You tell all your family and friends about it. The next thing you know, your great idea is being broadcasted on infomercials and some other guy is making millions off of your idea. In order to prevent this all-too-common situation, the answer is to obtain a patent immediately for your brilliant brain child.

A patent is the right to an invention that prevents others from inventing, copying, importing or selling your idea. A patent can be obtained through the United States Patent and Trademark Office (USPTO). The idea must be new and non-obvious in order to obtain the patent. EFS stands for electronic filing system and is the USPTO’s website for online patent application. The process is fairly simple and the website walks you through each step of the form. Some people choose to hire an attorney to help with the paperwork involved in obtaining a patent, however the website is easily navigable and understandable for most people. Most patents, with the exception of plant patents, can be obtained here.

The first step is to understand what type of patent you need. Utility patents protect new processes machines and compositions. Design patents protect original ideas for ornamental designs. Plant patents protect new plant species that you discover or create. Once you know what type of patent your invention requires, all you need to do is simply visit the website to procure the safety of your invention for twenty years, in addition to the filing time. Once this procedure is taken care off you are completely protected. No one can copy an invention that is in the process of being patented or that has a patent.

About the Author

Jakob Jelling is the founder of http://www.cashbazar.com. Visit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate.


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