There are many patent myths that seem to be floating around among inventors, CEOs and founders. We have covered 7 most common misconceptions people made about patents, through this presentation.

1. 7 Patent Myths
You should avoid
@GREYBSERVICES

2. There are black holes in the Space.

3. Banana grows on trees.

4. Bulls get irritated by red color.

5. We evolved from Chimps.

6. You believe that all of these facts are
correct? Don't you?

7. I bet you also think that we have 5
senses, right?

8. Congratulations! You are absolutely
incorrect.

9. Little information, my friend, can be a risky
thing. Especially when we talk about patents.
?

10. It’s so risky that it can cost you millions of dollars in
revenue,

11. It’s so risky that it can cost you millions of dollars in
revenue,
can lead you to a potential lawsuit,

12. It’s so risky that it can cost you millions of dollars in
revenue,
can lead you to a potential lawsuit,
can make your thousands of dollars useless
that you spent on filing that patent.

13. It’s so risky that it can cost you millions of dollars in
revenue,
can lead you to a potential lawsuit,
can make your thousands of dollars useless
that you spent on filing that patent.
And the list goes on...

14. There are many patent myths that seem to be
floating around among inventors, CEOs and
founders.

15. Today, we've brought the 7 most common myths.

16. 7Myth No.
You can only patent breakthrough ideas.

17. The truth is – any new idea or an improvement
over an existing product can be patented.

18. The truth is – any new idea or an improvement
over an existing product can be patented.
As long as it follows the patentability rules.

19. 6Myth No.
A patent will deter copycats.

20. The disappointing truth is, a patent doesn’t deter
copycats. It’s the law that does.

21. The disappointing truth is, a patent doesn’t deter
copycats. It’s a law that does.
If a country’s IP laws aren’t strong enough, you will find your
invention getting copied.

22. The possible solution -

23. The possible solution - file a complaint in a court

24. 5Myth No.
My patent is protected worldwide.

25. The catch is – patents are country specific.

26. The catch is – patents are country specific.
It means you can protect your invention only in a country where you
have applied for the protection.
--Naah!--

27. Is there any solution?
Yes, the PCT (patent co-operation treaty) under the umbrella of
WIPO provides a system to file a single patent application in 140
countries.

28. 4Myth No.
Patentability searches are cakewalk, anyone can
conduct one

29. Patent searches are complex that require rigorous
training.
Thus, only an expert in the field can find you an existing prior art
from a sea of patents.

30. Patent searches are complex that require rigorous
training.
Thus, only an expert in the field can find you an existing prior art
from a sea of patents.

31. 3Myth No.
You can get patent protection if any existing patent doesn't
disclose your idea.

32. Not the complete truth! If you want to get your patent
granted, it must satisfy the three criteria of patentability.

33. Not the complete truth! If you want to get your patent
granted, it must satisfy the three criteria of patentability.
Novelty

34. Not the complete truth! If you want to get your patent
granted, it must satisfy the three criteria of patentability.
Novelty Non-obviousness

35. Not the complete truth! If you want to get your patent
granted, it must satisfy the three criteria of patentability.
Novelty Non-obviousness Utility

36. In case, there isn’t any existing patent describing your idea, but,
an article on a blog, a research paper, or a news article is.

37. In case, there isn’t any existing patent describing your idea, but,
an article on a blog, a research paper, or a news article is.
Then also you won't get a patent protection over your idea.

38. 2Myth No.
Cost of a patent is predictable.

39. You can calculate the cost incurred for filing and
maintenance of a patent.

40. You can calculate the cost incurred for filing and
maintenance of a patent.
But there are certain invisible strings attached to the cost.

41. The Average cost of a software patent.
$23,000

42. The Average cost of a software patent.
$23,000
+$3000 average
maintenance.

43. The Average cost of a software patent.
$23,000
+$3000 average
maintenance.
In case of a prosecution,
extra $5000-$7000.

44. The Average cost of a software patent.
$23,000
+$3000 average
maintenance.
In case of a prosecution,
extra $5000-$7000.
Attorney fees - $10000, can be more
depending on the companies involved in
prosecution.

45. 1Myth No.
Patents are just useful for legal purposes.

46. Consider following situation.
Patented
Two same products, but one is patented and the other is not.

47. Patented
On top of everything, the company as a whole is conceived
innovative.
Consumers perceive patented product as unique and
superior, as no one can copy it.

48. Most young companies, especially startups use patents as badges to
highlight how involved they are in a particular domain.

49. Do you think we have missed
an important myth here?

50. Do you think we have missed
an important myth here?
How about letting others know that
through a comment?

51. Connect with us !
in@GreyBservices