Purchasing Resources for New Inventions

New Invention Key Terms

Learn about the procedures for creating inventions
By Terri Deno Inventions are always being created for all industries, and eventually they lead to new products for businesses and consumers. And, while the process of creating an invention may be tedious, going through the proper channels to secure patents and copyrights ensures that only the best will go from the drawing board into the hands of the consumer. Many government offices and regulatory organizations also help bring them to life.
 

Patent Cooperation Treaty (PCT)

The Patent Cooperation Treaty is an agreement between contracting states that offers national and international patent protection for inventions with a reduction in the cost of filing multiple applications.
Try: The World Intellectual Property Organization offers information and resources for learning more about the Patent Cooperation Treaty.

Copyright

A copyright is issued on a piece of intellectual property. This gives the copyright holder exclusive rights to use and distribute this property for a specific amount of time.
Try: The U.S. Copyright Office provides all of the laws and policies regarding filing for a copyright, what type of property can have a copyright and how violators of copyrights can be punished.

Design patent

A design patent is a patent on the specific shape and size of an object.
Try: Beck & Tysver's BitLaw website provides a summary of what a design patent is and what the procedure is for an inventor to file for a design patent on an invention.

Intellectual property

Intellectual property encompasses the creations of the mind, including music, literature, ideas and designs.
Try: The Intellectual Property Owners Association offers resources and information on intellectual property laws and court rulings throughout the United States and abroad.

Patent royalties

A royalty is a specific amount of money issued to the holder of intellectual property. This money is earned through licensing of the intellectual property to an entity for a specific amount of time. Patent royalties are paid when an infringement on the patent is apparent.
Try: Patent Royalty Solutions explains how a person can determine an infringement on a patent and collect royalties from this ruling. 

United States Patent and Trademark Office (USPTO)

The United States Patent and Trademark Office is the government agency that reviews invention ideas and issues patents based upon a number of standards.
Try: The United States Patent and Trademark Office provides general information on obtaining a patent from its office.