When Do You Really Need a Patent?

So you've got an idea, a really good idea. It may not be as revolutionary as the light bulb, the airplane, or the microchip, but you're sure it could be the next big thing. Maybe it has been percolating in your mind for years, or perhaps it struck in a flash of inspiration just last night. Either way, it's yours, and you're determined to do it justice -- which is why you're planning to get it patented, post-haste.

But wait. While conventional wisdom says every new vision needs immediate protection, it's important to realize that seeing your idea through from conception to completion is a long, rigorous, and expensive process, and patenting should be one of the last steps you take. In fact, Bob Lougher, executive director of United Inventor's Assn., a Rochester (N.Y.)-based inventor's education nonprofit, says rushing to patent is the independent inventor's enemy No. 1.