Patent value possibilities
Do you have a fully developed idea, or have you just started with creating one and you want to know if you are being Novel? When you have a brilliant idea and you want to make sure that no one else is going to use it before you do. But you are not sure whether someone else already has a patent on your idea. How can you ensure that your idea is novel?
When you have just started with designing new ideas or you have a finished business plan it is a good idea to explore the playing field. Is it valuable to get a patent or do you need to come up with an entirely different idea? It is extremely recommended to get a good understanding of your competition. Furthermore, it will provide you with insight about your unique selling point and if it is still worth pursuing the project.
If you are serious about realizing your idea, it is important to consider where you want to launch your development. This will be the place where you are going to get a patent and therefore where it is most important to make sure there are little to no similar patents. Conversely, if you are not that far yet or you want to make sure that your idea is novel, it is less important to know where you are going to launch your idea.
In both cases, it is important to make a good description of your product using no more than 10 keywords. This description should contain all the unique selling points, without revealing the little important details. These keywords should be entered in worldwide.espacenet.com to get an overview of all the already existing patents across the world in line with your idea.
Because it is almost impossible to think of all the right keywords for your idea, the next step in finding your competition will be through using the classification codes. After entering your keywords, read through the patents and look which one is most similar to your idea. At the top of that page you will find a CPC (Cooperative Patent Classification) code. Because there are over 250.000 different types of patents they are all numbered with classification codes. These codes refer to the technical aspects of the different patents.
Whenever you have found a description of a very similar product, you should click on the CPC code to find all patents having that technical aspect. Combining this search with the keywords, it is possible to get a very complete picture of what the competition is like. To estimate the value of your potential patent you should look at the differences between your idea and the already existing ideas.
When you really want to be sure what the value of your patent will be you should also take a look at the current market. This can be done by simply entering your keywords in google and looking for the results. It is possible that there are a lot of similar ideas already available on the market without a patent. This might indicate that a patent does not offer much additional value for that specific market. Always think critically and reconsider if getting a patent benefits your project or business.
Moreover, having a patent does not mean that no one else is going to use your idea. You are responsible for making sure that no one will conduct patent infringement. Therefore, last but not least, ask yourself whether the patent will be something you want to enforce and how difficult it would be to reverse engineer your idea.