BENEFITS OF WRITING PATENT-PENDING

INTRODUCTION:

It is not unknown that sometimes the Patent registration can take years, one way to exploit the Patent investment instantly is to notify that you have applied for a Patent. The same is done by writing Patent Pending, which is an expression that is written on the product, website, etc. which informs people that you have applied for a Patent.

The invention becomes "Patent-pending", once you submit the application for Patent registration, thus allowing you to depict your invention to others as the same until the Patent is granted.

BENEFITS OF WRITING PATENT PENDING

It has numerous benefits as:

• It can be used as a marketing tool indicating that your product is ingenious and that your organisation is innovative.
• It can also be used to keep potential competitors at bay as a “Patent pending” notification will alert the competitors that copying could land them in serious trouble.
• Having a Patent pending status before meeting with potential licensees or investors reduces the risk of your idea being stolen and used by them, as they would be subjecting themselves to the risk of infringement.
• Moreover, Patent pending is vital for both licensees and investors to take any action, as both of them will be willing to invest if they see the economic potential which in turn is ensured if there is exclusive right and monopoly over the invention.
• In cases where the Patent pending is achieved by applying a provisional application, it secures your priority date and lets you take appropriate decisions regarding of the fate the application, as it lets you conduct extensive research and determine the actual worth of your invention without worrying about it being stolen.

Thus, writing Patent-pending can be beneficial in a lot of ways and should be effectively utilised by the applicant.