Patent Pending

From CEOpedia | Management online

Patent pending - is a status assigned to a product or invention when a patent application for it has been filed, but process has not been completed yet. Status is granted for every patent application regardless it is examined positive or negative. Obtaining patent pending status does not guarantee law protection in case of copying, stealing ideas with this status.

Patent definition

Patent is a right to exclusive use of an invention which was granted for the applicant by the patent office. Patent is granted for specified time. This right usually applies for specified territory. When an invention is patented, consumers who want to use it must pay a license fee. Illegal infringement of patent is a crime and can be prosecuted by law.

Patent ownership gives the inventor possibility to make profits from his idea, secures him to enforce his laws to the invention and depend the idea on him.

Purpose of Patent Pending status

Main advantages of using the Patent Pending status:

  • Using the product and advertising it before formal patent is granted.
  • Warning competitors not to copy the product, because it may be patented in the future.
  • Using the product and status in marketing.

When a patent application is filed, it is typically one year or more to get a response from a patent office. It is caused mostly by the growing amount of patent applications. Other thing which application process depend on is complexity of the examination. As the process takes much time, inventors are forced to apply for a patent early. Status of Patent Pending is used in patent application to allow applicants continue working on the idea or use it publicly before the formal patent is granted.

Although Patent Pending status does not protect inventor with law from potential infringers, it warns them from using the idea. When potential competitors are notified that the patent application process has started, they may be convinced that it is not worth copying the idea and possible problems are too risky. If the official patent is granted, its owner will be able to sue them for copying his idea. Warning competitors allow the inventor to show the idea publicly with less chance of stealing it by them.

Getting Patent Pending status allows inventor to apply some marketing strategies for the idea. If the invention has a status of Patent Pending, it is likely to sell it better. Many companies put a mark with "Patent Pending" on products even if it was granted with official patent, because these words are valuable for customers. Other reason why using status of Patent Pending is good for marketing purposes is creating an image of company, investor. Future investors can be attracted by inventors with patents applications, because it shows that the applicant-inventor or company, has high potential and technical capabilities. Applying for the patent acts as a signal of quality targeted to investors. Using patent application can be a simple way to improve the inventor image and show his capabilities[1][2].

Problems of Patent Pending status

Main disadvantages of Patent Pending status:

  • Cost of patenting does not ensure law protection.
  • Sharing invention may cause infringements.

Inventors of new ideas usually want to use their inventions to make profit. To make it safe from copying by others, natural step is to apply for a patent. Until the process is finished, applicant can use the Patent Pending status. One thing which is hard to prognose, is whether the invention will be granted with patent or not. In both cases the inventor must put efforts and money which do not need to turn into profits. When invention is shown in public, potential competitors are open to scan the inventor and his money resources. If inventor incurred too much expenses it may be profitable for bigger companies to take a risk and copy the idea. Even if the patent is granted, its owner may not afford costs of enforcing his laws.

Sharing idea in public can put the inventor at risk of infringement. If the product with Patent Pending status is poorly designed or the patent application is narrow and does not describe fully the invention, it can be easily copied. Competitors can develop similar product by changing some parts of original form and still achieve the same functionality. To prevent this kind of copying, inventor needs to prepare the patent application carefully, predict possible modifications or divide invention in parts and apply for the patent for each of them. These actions can help to keep the idea only for the inventor.

A need to notify the public about the patent application may cause some kind of fear to the inventor. If his idea is something valuable for him, it is surely something he does not want to lose. Showing the idea for other people puts interest in the invention and simple mistakes in the application can lead to infringements[3][4].

Examples of Patent Pending

  • A new type of medical device to help reduce the pain and discomfort of arthritis: a patent application has been filed to protect the design of the device, but the patent has not yet been granted.
  • A new type of software to help people manage their finances: a patent application has been filed to protect the underlying algorithms and user interface, but the patent has not yet been granted.
  • A new type of 3D-printing technology: a patent application has been filed to protect the design of the machinery and the material used, but the patent has not yet been granted.
  • A new type of tablet computer: a patent application has been filed to protect the design of the computer and its software, but the patent has not yet been granted.

Advantages of Patent Pending

Patent pending status provides several advantages that can be beneficial to inventors and businesses. These include:

  • Establishing priority - Patent pending status establishes priority of the invention over others. It allows inventors to lay claim to their invention, and can help to protect the invention against infringement by others.
  • Opportunity to market - Patent pending status gives inventors an opportunity to market and promote their invention or product without fear of their ideas being stolen. This can help inventors to gain public and investor interest before the patent is officially granted.
  • Time to refine - Patent pending status also gives inventors extra time to refine and perfect their invention before it is officially patented. This allows them to ensure the invention is as good as it can be before it is patented, and gives them extra time to make any necessary changes or improvements.

Limitations of Patent Pending

The patent pending status has the following limitations:

  • It does not provide full protection for the invention, since the patent application might not be approved.
  • It does not guarantee exclusive rights, since the patent application is still being processed.
  • It does not prevent other inventors from filing patent applications for similar inventions.
  • It does not prevent others from copying or marketing the invention, since the patent is still pending.
  • It does not provide legal recognition, since the patent has not been granted yet.
  • It does not provide a way to enforce the rights of the inventor, since the patent has not been granted yet.

Other approaches related to Patent Pending

One way to secure intellectual property (IP) rights is to obtain patent pending status. However, there are several other approaches that a business, or individual, can take to protect their ideas. These include:

  • Trademarking - Registering a trademark with the government allows for protection of a logo, slogan, or other intellectual property associated with a product or service. This can protect the business from competitors using similar phrases or images that could confuse customers into thinking the product is from a different company.
  • Copyright - This is a type of IP protection that covers the original expression of ideas. It is often used to protect artwork, writing, music, and other creative works.
  • Trade Secrets - This form of protection is used to keep certain information secret and not shared with the public. This can include formulas, recipes, or other confidential information that helps give the business a competitive advantage.
  • Non-Disclosure Agreements - A non-disclosure agreement (NDA) is a legally binding document that requires the parties to keep certain information confidential. This type of agreement is often used when businesses share information with potential investors or partners.

Overall, patent pending status is just one way to protect intellectual property. Businesses and individuals can also consider trademarks, copyrights, trade secrets, and non-disclosure agreements to secure their rights.

Footnotes

  1. ↑ Graham S. J. H., Sichelman T. (2010)
  2. ↑ Debelak D. (2016)
  3. ↑ Henkel J., Jell F. (2010)
  4. ↑ Graham S. J. H., Sichelman T. (2010)


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References

Author: Anna Marzec

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