How Small-Business Owners Can Patent a Great Idea

By: John Rampton

Throughout history, ingenious and innovative ideas have been copied, or outright stolen. Guglielmo Marconi is credited with inventing the radio, even though it originated from Nikola Tesla. Nowadays it’s easy for a business owner to patent a great idea.

Robert Fulton took the idea for the steamboat engine from John Fitch. Lizzie Magie invented the board game “Monopoly” in 1903, but it was patented by Clarence B. Darrow in the 1930s. Even Apple has been accused of stealing ideas from Google, Microsoft and Samsung.

Instead of letting another party run away with your great ideas and make a fortune, you need to protect your ideas from the get-go.

One of the most popular ways to protect your product is applying for a patent. It’s now easy for a business owner to patent a great idea.

What is a patent?

According to the U.S. Patent and Trademark Office (USPTO);

“A patent for an invention is the grant of a property right to the inventor, issued by the United States Patent and Trademark Office. Generally, the term of a new patent is 20 years from the date on which the application for the patent was filed in the United States or, in special cases, from the date an earlier related application was filed, subject to the payment of maintenance fees. U.S. patent grants are effective only within the United States, U.S. territories and U.S. possessions. Under certain circumstances, patent term extensions or adjustments may be available.”

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