Filing for a patent is not the best way to profit from a great idea. Branding and advertising are.
One of the biggest myths about intellectual property is that once a patent is filed, success is guaranteed. This is rarely true as less than 3% of patents are brought to market and even fewer are profitable. Being the first to file a patent does not mean a smooth browsing experience and market breakthrough. A lot has to be taken into account, which is often more than budding inventors, entrepreneurs, and startups are willing to handle. Rabbit Product Design, an end-to-end product development company, offers a way to make things easier with a comprehensive guide to navigating the patent landscape and finding the best way forward for a higher return on investment.
According to the company, bringing the product to market is the most crucial thing for the success of a product idea or invention. The patent process is not only expensive, but also long and complicated. As laws become more complex and regulations tighten, the entire patenting process can take 2 years or more.
Meanwhile, a huge amount of money and resources would have to be spent to finance the patent filing requirements. With a limited budget, progress can stall. Many have fallen into the patent abyss, unable to develop their product and turn a profit. However, if patenting is left for later, the funds could be used to refine the idea – design, prototyping and manufacturing – and possibly commercialization.
A patent only has value when there is a market for it. It is the job of the inventor to make consumers aware of the value of their idea. Advertising and branding are the keys to increasing product awareness, highlighting competitive advantages and attracting buying customers. Advertising educates customers on how a product is convenient and problem-solving, while branding builds credibility and customer loyalty. They generate more sales and increase the return on investment, much better than a patent.
Drawing on years of industry expertise and its proprietary four-phase process, Rabbit Product Design is well positioned to help entrepreneurs and inventors successfully launch their products so they can establish their brand. , get the first time advantage and drive revenue and profit. The company has a team of only high-level designers, engineers, prototypers and marketers. Rabbit is the only design company in the United States with an in-house legal team to perform patent searches to minimize the risk of patent infringement before beginning the design process.
Since its inception, Rabbit Product Design has helped launch thousands of products, from smart devices to lifestyle items and apparel.
Interested parties seriously considering bringing their idea to market can schedule a call with Rabbit Product Design to learn more: https://www.rabbitproductdesign.com/.
Company Name: rabbit product design
Contact person: Adam Tavin
E-mail: Send an email
Country: United States