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Of course your innovative new idea can positively change your life. But before you proceed with the required development and marketing, it needs to be protected! Unfortunately there are unscrupulous folks out there that won’t hesitate to steal your dreams. Until your invention or idea is protected, your options are very limited.

But just HOW do you implement and maintain that all-important protection? Broadly speaking, there are three ways: Secrecy, a full Patent, or a provisional Patent. You need to determine the best fit for you, your finances and your particular idea or invention. Here is a peek at each:

Secrecy - The family-run Coca Cola Company successfully maintained their products ’secret formula’ for generations. Long-term, however, secrets are almost impossible to keep. And to avoid involving outsiders, you will need significant financial wherewithal. You’ll need to finance your product’s production and distribution yourself. Secrecy actually works best only for processes or for products not easily reverse engineered.

Full Patent - Mechanical, technical or electronic products likely cannot be protected by the secrecy method. This will require a full patent (at least ultimately). Patents are very expensive if your use a company that caters to budding inventors. These full patents, however, really need the expertise of an attorney, which is even more expensive. But if you can afford it, this is the absolute best option!

Provisional Patent - if funds are limited, this is very viable. It’s likely the best option for you. The PPA or provisional patent application gets your foot in the door and holds your place, until someone you assign can pay for the costly full patent. You get to display ‘patent Pending’ with the description of your product. It gives you one year to find backers, promoters and partners and to get the full patent.

Once you’ve obtained either a full or a provisional patent, negotiations can safely begin with third-parties to further develop, manufacture, sell, and distribute your product. You are in a strong negotiating position. You can have them pay you royalties, signing fees, and commissions. You will also be creatively free to invent and develop additional new ideas that you may have.

In summary, a full patent is extremely expensive, as well as time-consuming. If money is tight initially, you can file for a provisional patent all on your own. On the website for the United States Patent and Trademark Office (USPTO) there are hundreds of forms. If you love research, you could easily spend 12 - 15 hours to determine which forms are needed, and which sections and lines on those forms are necessary to get the application accepted. If you’re like most folks however, you might opt for a major shortcut — in the form of one of the many readily available provisional patent application kits.

Remember in all of this that time is of the essence! You don’t want someone else to beat you to the punch, so be thorough but be as quick as possible in completing your research. If you place a high value on your own time, or if you find researching government websites to be tedious, or just not your cup of tea, then an inexpensive ‘kit’ might be a better match for your needs.

Quality kits will either list or actually contain all forms needed. While some include only the ‘government instructions’ for every line of each form, more user-friendly kits will provide simplified, plain-English step-by-step directions, for filling in only those sections and lines that are required — not all sections and lines need to be filled out — some should NOT be filled out. Costs for the kits start at $50 - $100.

Having the protection of your full or provisional patent, frees up your valuable time. It can then be spent in far more profitable and exciting endeavors. You’ll be seeking out interested parties that are eager to help you move your dream closer to reality. Once protected, you’ll be moving rapidly toward ultimate financial security. So do what it takes to get protected, then move safely and confidently forward!