Did you know there were approximately 5.5 million private sector companies in the UK as of 1 January 2024? The source adds that the total business population has, since 2000, climbed by 59%.
Another source says that 20% or one in five of small businesses in the UK crash and burn in year one. Around six in 10, meanwhile, go out of business within their first three years.
There are many reasons why some businesses only last for a short while before going out of business. Whether due to wasting money, retaining the services of the wrong people, or having no real business strategy, a company might not last long enough to make a big impact.
Unfortunately, the list of things companies can do to jeopardize their longevity is a long one. One thing your business should avoid is being unintentional when it comes to patents. Safeguarding patents is a way to protect the keys of the kingdom.
Securing a patent is essential for protecting your invention and ensuring you have the exclusive rights to produce, use, and license it. However, obtaining a patent is just the first step. You also need to know how to protect it.
Continue reading to learn about three things you need to know about patents in the UK.
1. File for Patent Protection Early
Getting off to a good start is one way to increase the chances of your business having some staying power. One way to do that is to file for patent protection sooner rather than later. You can do that by applying with the UK Intellectual Property Office right away to secure priority.
What if you’re not quite ready? Use a provisional application if you require additional time to finalize details. If you plan to do business outside the UK, consider securing international protection via the Patent Cooperation Treaty.
2. Keep Your Invention Confidential Before Filing
While it should be obvious that you need to protect pertinent information ahead of filing, too many companies make this very mistake. So, steer clear of publicly disclosing your invention before filing since making this mistake could jeopardize your patent application and leave you without protection.
It’s a good idea to share pertinent information only on a need-to-know basis and employ non-disclosure agreements when discussing your invention with possible partners, investors, and manufacturers.
Again, failing to do so could leave you unable to file a successful patent application. Another thing to remember is the importance of maintaining detailed records during the development process just in case you find yourself in a position where you must prove originality. Patent disputes erupt all the time. You can, at the very least, be prepared to respond.
3. Monitor and Enforce Your Patent Rights
After filing for a patent and getting protection, you can’t rest on your laurels. It’s essential to routinely search for potential infringers. You can do this by conducting marketing research and looking through patent databases. If you believe your patent has been violated, contact a patent lawyer to find out if you have a case. A legal professional can draft and send a cease-and-desist letter before possible legal action. That’s often enough to deter patent violators.
These are some of the things to keep in mind if you want to safeguard your patent in the UK. Of course, you may have many questions along the way, and that’s where a patent expert can help. A patent expert can answer your questions so you can make informed decisions. It can be a worthwhile investment if you want to go about things the right away and avoid mistakes.