So, you think you’ve come up with an innovative piece of software that you know will be a game-changer. Great! But now the question is: to patent, or not to patent? When it comes to protecting your idea, there are several things to consider. First and foremost, tech—especially software—reinvents itself on a frequent basis, making today’s cutting-edge program tomorrow’s antique. Secondly, it depends on how much capital you have available. The patent filing process can be expensive, especially if you start dealing with international protection. Before you go down that road, you need to ask yourself, “Is this IP worth protecting, and if it is, can I afford to do it?”
As Klickly founder and CEO Cooper Harris explains, even a provisional “patent pending” stamp isn’t a trivial decision. Deciding whether to protect your idea is based on many, many factors. Yes, a patent can make your IP more attractive for potential acquisition from a larger company, but it might not be worth the cost for other reasons. You could take it upon yourself to file it personally in order to save some money, but generally speaking, would you trust yourself to do it right? There’s the option of hiring a patent attorney to do it for you, but even that route can get a little complicated, not to mention pricey and time consuming.