January 2, 2019
What Else Can I do With a Patent?
A patent is personal property and may be used to secure a loan; it may be bequeathed by a will; and it may pass to the heirs of a deceased patentee.
When you want to protect a novel invention so that you can exploit it in the marketplace, you need the law of patent in order to create a legal monopoly. In order to be represented in submitting your invention application to the United States Patent and Trademark Office (USPTO), your representative agency, such as InventHelp, must be registered to practice before the USPTO.
Patent law provides for the transfer or sale of a patent, or of an application for patent in writing. The document is an assignment and may transfer some or the entire interest in the patent. When the patent is assigned, the assignee (the person who is receiving the ownership interest) becomes the owner of the patent and has the same rights that the original patentee had. You may apply for a patent for your invention.
Inventors may apply for one of two types of patent applications:
(1) A non-provisional application, which begins the examination process and may lead to a patent and
(2) A provisional application, which establishes a filing date but does not begin the examination process.
A patent for an invention is the grant of a property right to the inventor, issued by the USPTO. 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. As you can see from this article on https://blogs.harvard.edu/blockchain/the-realities-and-constraints-of-the-new-tech-age-inventhelp-to-the-rescue-of-struggling-inventors/ under certain circumstances, patent term extensions or adjustments may be available.