Should You Patent Your New Hardware Product?

In this episode... Inventors with a new product concept are rightly concerned with IP protection. They sometimes ask if they should invest in a patent for their new idea ASAP. Renaud and Andrew join Adrian to cover this topic here. You'll learn about types of patents, their cost, when a product is most likely to benefit from being patented, best practices for protecting your IP that you can follow before you file a patent, and plenty of examples of real businesses that had legal issues related to patents or who got to market successfully by being smart and careful about IP.   Show Sections 00:00 - Greetings & today's topic: Patents for new hardware products. 03:33 - IP protection Basics 1: Always sign an NDA when disclosing the product concept to people in the industry. 04:58 - IP protection Basics 2: These actions will get your product idea copied early. 07:14 - The different types of patents. 10:39 - Approximate costs for patent applications and PPA timeline. 17:24 - If patents are too expensive, what alternatives are there for protecting IP? 22:04 - The 2 main fears of people launching a new product. 33:32 - The dangers of going to investors and pitching your new product idea. 36:37 - What to do if you have a 'home run?' 39:17 - What if your product is not a home run? 41:14 - Which version of the new product really needs a patent? 46:20 - The dilemmas you face: To patent, or not to patent, and when? 50:39 - Summary and wrapping up.   Related content... Read a whole selection of our content about Product IP Risks & Protection When Manufacturing [Resources] IP Protection in China when Developing Your New Product [Importer’s Guide] New Physical Products: Patents Should Come After Market Success What’s The Investment Required To Bring My New Product To Market? Misguided Legal Advice Given to Startups in China: 8 Examples How To Create A Valid Manufacturing Contract In China To Protect Your IP Will A China NNN Agreement Protect Us If We Start Assembling Products There? Get help from Sofeast to check that potential manufacturers are trustworthy: Combined Supplier Due Diligence Checks (Best Results & Value)   Get in touch with us Connect with us on LinkedIn Send us a tweet @sofeast Prefer Facebook? Check us out on FB Contact us via Sofeast's contact page Subscribe to our YouTube channel   Subscribe to the podcast  There are more episodes to come, so remember to subscribe! You can do so in your favorite podcast apps here and don't forget to give us a 5-star rating, please: Apple Podcasts Spotify Stitcher Google Podcasts TuneIn Amazon Podcasts Deezer iHeartRADIO PlayerFM Listen Notes Podcast Addict Podchaser