Utility patents are the king of patents. In all the world, this kind of patent that is the most valuable, especially if it is issued by the United States Patent Office. With infringement payouts in the billions of dollars, investing in the ideas of the future has become the game of the wealthy and powerful. This king of patents is the way to turn that future into property now.
Utility patents offer 20 year protection on inventions that are new and useful (and non-obvious). These important patents are the foundation that supports the innovation powerhouses in industries like pharmaceuticals, computer/electronics, software applications, tools, and manufacturing. It is unthinkable for a Fortune 500 company to try and operate without this vital patent protection. It is even more unthinkable to come to one of these companies with an idea that isn't covered by a utility type patent application.
It is estimated that major companies spend approximately $750,000 for each patentable idea generated. They then spend between $10k and $30k+ to get a utility patent on that idea (sometimes more than one). Generally these new ideas are worth over a million dollars in enhanced revenue for the company. That means the return on investment for the patent protection is between 100x to 1000x! The development time MUST be spent regardless to keep the company relevant and to keep ahead of competitors. Where else can you get such a striking return!
Most people think that the one and only reason to get a utility patent is to hire patent lawyers to sue infringers. No Way! Their value kicks in way before any threat to sue. The more patents you own, the stronger your influence in the industry, the easier it is to hire strong talent, the more likely you are to find that one-in-a-million idea that changes the industry forever and puts you squarely on top for decades. They have been used to secure meetings with critical CEOs of major companies. Finally, if you have enough patents in your portfolio, you can even secure blanket royalty agreements with companies - even if they are not infringing now, they are sure to if they want to grow.
Utility patents (especially from the USPTO) are the most valuable and powerful kind of patent protection. They can be worth tens of billions of dollars. The major players in every industry rely on them and respect them. They have such a high return on investment that companies are willing to file thousands a year. Because they are so powerful, they can give you great leverage even if you never sue anybody. Businesses founded on these most important patents have incredible opportunity potential to be respected by their industry and to grab huge chunks of the pie.Utility Patent Application Here you will find the nuts and bolts of what is required for a good applicaton.