A patent is a form of intellectual property that grants inventors the legal right to exclusively make, use, and sell their inventions for a specified period—typically 20 years from the date of filing, in the case of utility patents. To qualify for a patent, an invention must meet several critical criteria: it must be novel, non-obvious, and useful. Once granted, a patent prevents others from commercially exploiting the same invention without the inventor's consent, thereby offering a competitive edge and encouraging innovation.
For businesses, patents represent more than just legal protections—they are valuable assets. Companies frequently invest in patenting to secure technological advantages, generate licensing revenue, deter infringement, and enhance their market position. In industries like pharmaceuticals, electronics, and software, maintaining a robust patent portfolio is often integral to long-term strategy and valuation.
Before submitting a patent application, inventors typically evaluate the likelihood of its success. This involves determining whether the invention is eligible for protection and whether it can withstand scrutiny under patent law. Key factors considered include the uniqueness of the idea, its technical feasibility, and the presence of any prior art (existing knowledge or patents that are similar).
Patent activity is a global phenomenon, with hundreds of thousands of applications submitted annually to patent offices worldwide. At the United States Patent and Trademark Office (USPTO) alone, more than 600,000 applications are filed each year. These encompass various types of patents, including:
Protect functional inventions or processes
Cover the ornamental design of a product
Granted for new varieties of asexually reproduced plants
Despite the large volume of filings, not all applications result in granted patents. According to recent USPTO statistics, approximately 48% of applications are either rejected or abandoned, while about 52% successfully secure a patent. Reasons for rejection may include lack of novelty, obviousness, or failure to meet technical disclosure requirements.
Patent grants have shown an upward trend in recent years. In 2021 alone, the USPTO issued over 300,000 patents, underscoring the continued growth in innovation across sectors.
Overall, while obtaining a patent can be a complex and competitive process, it remains a powerful tool for protecting intellectual creativity and driving economic progress.
There are three primary types of patents granted by the USPTO: utility patents, design patents, and plant patents. Each serves a distinct purpose and protects different aspects of innovation.
Utility patents are the most common type of patent, covering new and useful processes, machines, articles of manufacture, compositions of matter, or any new and useful improvement thereof. These patents protect how an invention works rather than how it looks.
Key Features: 20-year term from filing date, requires maintenance fees, protects functional aspects of inventions.
Design patents protect the ornamental design of a functional item. They cover the unique visual qualities of a manufactured article, safeguarding the appearance rather than the structural or functional features.
Plant patents are granted to anyone who invents or discovers and asexually reproduces any distinct and new variety of plant. This includes cultivated sports, mutants, hybrids, and newly found seedlings.
The patent application process typically involves several stages: prior art search, application preparation, filing, examination, and prosecution. This journey can take several years from initial filing to patent grant.
Mallorn Technology provides comprehensive patent services that streamline the patent process while maximizing protection for your innovations. Our team combines technical expertise with legal acumen to develop tailored intellectual property strategies.
Our Advantages: Industry-specific expertise, global filing experience, cost-effective solutions, proactive portfolio management, and strategic IP counseling.