What is a Patent?

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You have a great idea and you want to start a business. Then the worrying starts to set in. What if I work really hard, invest my savings, and then someone comes along and rips me off? What if a big company steals my idea? How do I protect my business? These are the common concerns any startup or small business has. Is the answer getting a patent?

Creating, developing, and producing a product is a big investment.

The old saying goes that it takes money to make money. This saying certainly holds true in the business world. Whether you creating the next iPhone/Android or starting a lawn mowing business, every new business endeavor takes a lot of time and money. You pour your blood, sweat and tears into your business. It is almost like another child joins your family. With such a large investment going into a business, the government wanted to provide a way for a business to recoup their investment and make a profit.

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A patent is an exclusive right the government grants businesses to make, use, and sell a product for 20 years. A patent enables a business to stop others from taking their product, ripping it off, and calling it their own. At the end of the 20 years, the right ends and everyone can make and sell the product. The government grants this right to spur innovation and grow the economy.







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