How to protect my business idea without a patent? don't want to waste money

Discussion in 'Starting A Business/ Business Ideas' started by hamza, Jul 26, 2016.

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  1. hamza

    hamza Newbie

    How can I protect my business idea without a patent. I've been doing a lot of research and patents costs a lot of money. I really believe in my business idea and I think the invention will be a success. However, I don't want to spend too much money protecting it because it might not work and I'll end up getting into debt. I wish there was an easier way to protection an invention or business idea without spending thousands of dollars on patents. If anyone knows how to protect a business idea for free please let me know.
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  2. admin

    admin Administrator Staff Member

    Admin Post
    The only way to protect your business idea is by using a patent. With a patent you get a set of exclusive rights granted by the state to you the inventor for the invention idea for a fixed period of time in exchange for a disclosure of the invention.

    The patent search is an expensive process but you could make your life easier by doing a preliminary search on Google.com/patents. If this database does not hold your invention idea its likely it doesn't exist. Just to be sure you could hire a patent company to do a wider search so you are free from future conflicts. Keep a record of the search for future due diligence.

    Submitting the patent does cost a lot of money depending on your idea. For example a board game may cost $7,000 for filing an application through an attorney while the patent search may cost another $1000. The bare minimum Government filing fees are $730 for small entities and $400 for micro-entities so this is the absolute minimum you would expect to spend.

    unfortunately there is no easy way to protect your idea which is a shame because it does hold entrepreneurs back because of the high cost. If you really believe in your idea and an exist patent does not exist you should take a calculated gamble because it might pay off. Alternatively you could sell your idea if you want the quick money. Be prepared to be as sick as a parrot if your idea takes off the the company makes millions.
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