Do You Need a Patent?

Do You Need a Patent?
For several years, I gave business planning seminars at the Invention Convention in Pasadena,
CA. The first thing an inventor worried about was how to keep the invention a secret until a
patent was obtained. Since this process takes up to two year (or more) to accomplish, there was a
problem – getting the invention to market. Mike Rounds, who taught marketing for inventors,
maintained that the decision as to whether or not to go after a patent should be determined
according to whether the product was “timeless” or “timely”. In other words, if it was a hot
product that needed to be marketed quickly, “skip the patent, produce the product, and jump on
the market before someone else does.” If it was a timeless invention (like the paper clip) that
would have staying power, take the time to apply for a patent and protect your rights.