Home Business Idea
Protecting Your Idea or Product

Is a home business idea considered property?

Most of us have had an idea for a new product or service only to dismiss, postpone, or neglect it. Sometimes we later find that others had the same idea, but took it to market before we did.

By that time, it is too late for us to take advantage of the idea.

Ideas are relatively easy to come by, but inventions are more difficult. It takes knowledge, time, money, and effort to refine an idea into a workable invention, even on paper.

Turning an invention into an innovation - a new product accepted by the marketplace - takes a lot of effort and a little luck certainly doesn’t hurt.

There can be substantial barriers in the path of those who pursue product innovation. Overcoming these barriers requires careful planning and plenty of input from others.

Hundreds of thousands of inventors and innovators file each year for protection under U.S. patent, trademark and copyright laws.

However, it can be hard to decide which of the three vehicles is most appropriate for the protection of a particular invention.

Although a single home business idea or product or service may require a patent, a trademark, and a copyright, each category protects a distinct aspect of a creative work or expression.

Patents, copyrights and trademarks, as well as know-how or trade secrets, are often collectively referred to as intellectual property.

Many firms have such property without even being aware of it or of the need to take measures to protect it.

Many people's notions of intellectual property are unrealistic. Some believe, for example, that simply having a patent on a product will enable one to succeed in the marketplace.

Consequently, they may spend thousands of dollars to obtain the exclusive rights to market something that no one wants or cannot afford to buy. Others may decide that intellectual property protection on their home business idea or product is not worth the time or expense.

People who may not be interested in protecting their own rights must still take precautions to avoid infringing on the rights of others. This calls for more than the avoidance of copying.

Some copying is unavoidable; but one can easily infringe on the rights of others without deliberately imitating specific features of goods or services.

In order to determine whether or not your home business idea or product needs protection, you are encouraged to discuss your situation with an experienced attorney.

You can also find a wealth of information at the following online links:
Copyright
US Patent and Trademark Office – Patent Section
US Patent and Trademark Office – Trademark Section

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