Retail Patents – It would be ideal to get a patent for your product. However this doesn’t always make sense for all products!
At least half of all products on store shelves do not have patents on them due to product life cycle. So it really depends on your product and how unique it is to the market place.
Do you have the money? Does it make sense to wait years before attaining the patent? Are there other products on the market that are really similar to yours? Is your product interesting but not that unique? It’s a decision you have to make!
One affordable way to handle this patent issue is to start with a patent application. This enables a person to protect their product idea for a year for a nominal fee.
Once the year is up, they have can choose whether or not to patent the product. At that point, they will know if the product is marketable.
It’s always ideal to protect your innovative ideas, but sometimes people don’t have the financial resources. And sometimes a product might not be patentable either! If you are really worried that someone will knock your product off, then go for the patent!
Watch this video to learn more!
P.S. If you would like to know exactly how to get your products on major retail shelves, check out our Retail MBA Training Program!