Article Tags : finance . financial . Get Money For . personal finance . return of investment
An inventor can get money for himself out of the patent of his invention. There are two kinds of patent an inventor can choose from: provision or non-provisional patent.
Step 1 Understand the Basics
To determine what kind of patent would give you a better chance to get money for your invention means understanding the basics. What kind of patent to use depends on the kind of invention you have and the resources you have at hand. A provisional patent obviously is less expensive and only lasts for duration of twelve months. The non-provisional patent however is complex and protects the invention for years.
Step 2 Have and Evaluation
An evaluation on your invention will help you decide on the kind of patent to employ. The chances of your invention to succeed in the market will serve as your guide. This is necessary to promote higher return of investment.
Step 3 Make a Choice
Choose what kind of patent to use for your invention but always remember to make a fixed choice. It is better to file a provisional patent first so as to give you a span of one year to decide if a non-provisional patent should be pursued.
Step 4 Decide on When to File
Deciding when to file for the non-provisional patent is necessary when filing for a provisional patent.
Step 5 Weigh the Situation
The primary reason why a provisional patent is more favored by inventors is that this kind of patent gives them the chance to weigh the situation better. 12 months is enough time for an inventor to analyze the market for his invention. Thus if he will be able to get money for himself out of the invention, then it is expected that he will opt for a non-provisional patent.