What are they?
A: Commercial assets which gives their owners the right to stop others making, using and selling versions of the inventions. more
How long do they last?
A: Usually 20 years.
- To preserve profit margin by guarding against imitators.
- To generate new income streams by licensing.
- To demonstrate to the market that you are innovative.
- To attract investors.
- To foster an innovative business culture.
How much do they cost?
Getting an Australian patent often costs about $17,000 + GST over about four or five years. International strategies often cost about $100,000 + GST over the first four years, e.g. if you aim to cover several individual countries plus Europe as a region. more
Can you sell them?
Yes: Patents are commercial assets that can be bought and sold like other assets. They can also be licensed to generate royalty streams.
What does ‘patent pending’ mean?
A: A patent has been applied for but not yet granted.
What is a provisional patent application?
A place marker that reserves your priority to patent an invention. more.
How to apply
The process often starts with a provisional application followed by non-provisional application(s) about 12 months later. The non-provisional application(s) are then examined to check that the invention qualifies. A patent is usually granted shortly after an application passes examination. more