The Reality of Protecting Your Company's Secrets

Patents are the building blocks of innovation. But there are a lot of things a patent can't do.

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the reality of protecting your companys secrets

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Updated on: November 2, 2022
Read time: 3 min

When we think about patents, most of us conjure up the ghost of Thomas Edison (who had nearly 1,100 of them) or perhaps Benjamin Franklin, who, despite being an avid inventor, held zero. In our minds, we create the image of inventors working by lamplight, sketching, figuring, building, and then selling their inventions. 

In actuality, the truth of the patenting process is a bit different. A patent doesn't give the inventor a right to make something or use a new process they invented. What a patent does is give the inventor is the right to prevent others from making, using, selling, or distributing the patented invention without their permission. The U.S. Patent Act has been around since 1790 and typically provides 20 years of this protection to inventors.

Why patents are important

First, and probably most importantly, patents promote innovation. Even though patents are a legal concept, the patent process has its roots in public policy and the Constitution.

Consider the big picture—as a nation, the United States wants to promote innovation. We want brilliant citizens to spend their time and money coming up with concepts and ideas that they turn into inventions.

The benefit of this activity to society is immeasurable. Think about what our lives would be like if someone hadn't invented the light bulb (it's not who you think!), or if Watt hadn't improved rudimentary steam power into the modern steam engine. When inventors innovate, we all benefit. 

Making invention appealing

Now think about it from the inventor's point of view. You come up with a great idea, but that's all it is: an idea.

It would be best if you now turned that idea into an invention. To do this, you typically have to invest your valuable time and money to see your idea become a reality. Why would you do that unless you could benefit from your work and see some return on your investment? While the mother of all inventions may be necessary, traditionally, the driver of invention is financial gain. So we have established that patent protection is good for society since it gives inventors the right to stop others from profiting off their hard work.

But why do we need the government to accomplish this for us? The short answer is that governmental protection in this instance is simply superior to other alternatives. It would be challenging to create a private system of agreements and contracts that would offer the protection an inventor can receive from a single patent.

A return on investment

Additionally, patents are property—intellectual property—which means that patent protection can be sold or licensed. This provides yet another avenue for an inventor to realize a return on his or her investment. When a patent is sold, the right to enforce that patent is typically transferred as well, giving the buyer the same rights they would have if they were the original inventor. This allows those with great inventing skills, but maybe less-than-great business skills, to still see a profit from their hard work.

An investment in time

But patent protection doesn't come cheap—and can take a lot of time. Obtaining a patent in the United States can take 36 months or longer, depending on a host of factors. Furthermore, while a very simple patent can cost around $5,000, complex patents can cost up to hundreds of thousands of dollars.

However, even after investing all of the time, money, energy, and hard work, not every idea will find its way to becoming a patented invention. But for those that do, the patent system is a valuable tool that exists to ensure that inventors can adequately protect their creations. Without a doubt, patent protection is vital to the individual inventor's success and a benefit to society.

The Constitution's framers recognized this over two hundred years ago, and it remains just as true today.

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This article is for informational purposes. This content is not legal advice, it is the expression of the author and has not been evaluated by LegalZoom for accuracy or changes in the law.

137 days ago
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This is my 2nd provisional patent with…

This is my 2nd provisional patent with Legal ZOOM. This time I dealt with Mak Champ he was Great, went out of his way to make it as easy as possible. Thank You

JoeSnook
163 days ago
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Great Experience with LegalZoom

My experience in submitting a Provisional Patent Application has gone very smoothly so far. Customer Service and Support was very prompt and answered all my questions very quickly. I highly recommend Legal Zoom.

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221 days ago
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Sandra helped me make the additional…

Sandra helped me make the additional orders on my account for the patent information. She helped me on everything I asked for. Thank you for making a difficult process much easier. thnx.

Rodney Kreinbrink
282 days ago
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Tiffany was patient,professional and thoughtfully thorough!

Tiffany was patient, professional and thoughtfully thorough in her assisting me through procedures involving my patent processing!!

Valued Customer DT
282 days ago
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Professional and Kind

Carrie was extremely helpful in answering my general questions regarding the trademark and provisional patent application process and fees. She was clear and succinct while maintaining a level of kindness and understanding of my needs. She provided the exact information I needed, saving me time and effort in researching via other routes. Thank you!

Teresa
877 days ago
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Did a provisional patent application (PPA). Streamlined and professional. Very helpful if ever needed. Always a pleasure to work with.

Bill K
925 days ago
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Wes is always great to talk to

Wes is always great to talk to. He seems just as excited as we are about the next step in our patent process

Ann
927 days ago
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LegalZoom is a great resource for…

LegalZoom is a great resource for anyone needing legal advice and in my case patent applications.

Patrick Walker
941 days ago
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Great service

Great service, easy to understand each step in the patent journey. Wes my account manger was great and extremely helpful. I firmly recommend this service to anyone who has an invention they need protecting.

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