Simply put, patent pending is an indication that a patent application has been filed. For some, displaying the phrase on their products is sufficient to ward off potential competitors, but patent pending in and of itself only indicates that there is a potential that a patent will be granted. In fact, unless a patent is granted, the owner of the patent application has no recourse against in fringers. However, that doesn’t mean that you shouldn’t market your invention until after you have a granted patent, it can take more than 8 years to obtain a patent in Canada in some cases. Once your Letters Patent is issued then you will be able to take action against anyone who has infringed your invention and obtain compensation starting from the date the application is published (18 months after filing).
Patent pending can be an incredibly valuable tool when attempting to market your invention to distributors, companies or investment groups. It can deter others from simply copying your idea. In many cases, companies are more willing to deal with inventors who have filed patent applications for their inventions and could ultimately make the decision to license rights or purchase the patent for their own use. For anyone who has ever watched television shows like Dragon’s Den, inventors are usually asked if they have a patent on their invention. If the answer is no, more often than not, the inventors have unsuccessful pitches.
Lorraine Prowse – Patent and Trademark Agent 888 725 9930
Information on this website is for informational purposes only. It is not, and should not be taken as, legal advice. You should not rely on or take any action based upon this information. This website should not be used as a substitute for professional legal advice. Prowse Chowne LLP professionals would be pleased to advise you.