An idea is an opportunity. However, someone can deprive you of this opportunity if your idea is not protected. We all know that a patent provides the required protection. However, it is important to have answers to some questions. Is the idea worthy? Is the idea new and unique enough to protect? Is it the right time to cash in on this opportunity?

A patent is a valuable tool in your arsenal that protects your idea. However, it is not guaranteed that a patent will unlock success for you. You need to invest a boatload of dollars in protecting your patent. Can the product make to the market? If it can’t then investing in a patent cannot be a smart business move. It is a well-known fact that only 3% of the patented products succeed in the market. Remaining 97% don’t even make to the market.

It does not mean that you should not file a patent for your idea, invention, method or product. However, it should not be the first step. The first step should be the evaluation of the idea or produ…