Small Business grants for Patent and Copyright
Trademark, Patent and Copyright are the three different types of intellectual property coming from the creative mind
. Intellectual property is like an asset like home, car and bank account. By using trademark, patent and copyright, there are ways to protect and profit from intellectual property.Patent helps in protecting inventions and improving the existing inventions. Trademarks are words, names, symbols and devices that represent products, goods or services. Trademarks are getting registered by the name of the brand of the products. Copyright means protecting the expression of ideas in literature, artistic and music works. Copyright will also get registered. All the three types of intellectual property can be used together wherever necessary.
In order to protect the patents, the patent application has to be filed with the help of patent attorney. The process of filing involves product evaluations, patent translations, drawings and illustrations. In order to carry out this, enormous amount of time and money is to be spent.
The first step would be to draw a business plan to be presented to the potential investors as well as to the grant givers. The plan should give the complete details regarding the amount of money needed, how the money will be used, how the patented product will be manufactured, marketed and distributed for sale and what income and potential profits will get generated. It is advisable to get enough money so that the project gets completed. Starting with very little money may land the project in failure. To avoid this, it is always advisable to prepare a fully studied and researched business plan with the help of a grant writer if necessary.
The State governments have grants and loan programs to sustain a new product through the patent in the initial stages. Grants are given for the development of inventions that benefit the environment and reduce household energy use. Many community centers have incubator programs to provide funding for patent applications and start up assistance. Hence it would be better to search out these incubator resources from a local chamber of commerce, college or a University for getting the grants.
The grant givers after understanding all phases of developing and bringing a new idea to market the patented product, provide the professional assistance in the early stages of development in addition to the funds. They even suggest the patent attorney or agent for filing the patent application. The applicants must be prepared to negotiate the percentage of ownership that can be dispensed with to get the necessary funding for the patent. The grant givers require a professional business plan and this will have to be presented to them in person by the applicants.
The applicants must search thoroughly to find out the manufacturing costs of the invention and the profits that will be made from it when marketed. In order to reduce the production costs, the product can be redesigned. The patent can be licensed to a large company for exchange of royalties and the licensing company will provide the necessary funds for further research and development of the invention.
Small Business Grant Source:
Learn the application procedures, various funding sources for specific types of businesses and eligibility criteria for small business grants. You can find the most comprehensive information on availing of small business grants by visiting this online guide on grants here
Small Business grants for Patent and Copyright
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