Small-Business Answer Book

Q: I have an idea for a new product. Do I need a patent, and how do I get one?
A: Yes, you do need a patent if you want to protect yourself. The U.S. Patent and Trademark Office website is an extremely comprehensive site with forms, fee rates and instructions on how to apply for a patent online.

If it's just a basic filing fee to cover your idea, and you're considered a small business or you're an entrepreneur working alone, you'll pay $150; double that if you own a large company. But the deeper you delve, the more you might pay: You can pay patent search fees (if you're not sure if there's already an existing patent that covers your idea), patent maintenance fees (every several years, you'll need to renew it), and all sorts of obscure patent fees from design filing fees to patent application extension fees. Still, chances are you'll just pay $150 and only have to worry more about patents if your product turns out to be a success. In that case, you'll probably be hiring a patent attorney.

You may even have a business practice that could be covered by a patent, something in which you've invested time and money. For instance, Amazon.com's 1-Click system, which allows repeat customers to bypass address and credit card data forms, has been patented (although it's now being challenged in court). The benefits are immediately obvious: You can patent a business method for 20 years, keeping competitors from using it, or you can license it out.

Some books you'll probably want to check out include Patent It Yourself by David Pressman (Nolo, $49.99), and Patents, Copyrights & Trademarks for Dummies by Henri Charmasson (John Wiley & Sons, $21.99).

Q:I know it's important for me to market my business online. How do I get started?
A: Getting your website in front of customers is important for every business. One way to market yourself is to consider having a blog or even a podcast, which is basically a video or audio blog. You can set these up for free at websites like Blogspot.com and MSN Spaces (http://spaces.live.com). Many web-building sites will also help you set up your own blog.

If you're not the only one updating the blog--your employees may help, too--that will invariably make it more manageable and fun to read. If you can attract some diligent, devoted consumers who read it frequently, you will probably have those customers for life, but even people who read it just once will be able to get a sense of what your company is about. A blog also helps your venture feel like a live, vibrant place of business rather than a static, never-changing company, which sometimes can be the feel of a website.

And then, of course, there's pay-per-click advertising. The three leaders in this field are Google AdWords, Yahoo! Sponsored Search and MSN Keywords. Advertising on all three is a cost-effective way to drive shoppers to your website.

For more answers to your most pressing business questions, visit our Small-Business Answer Desk.

 


Geoff Williams is a writer in Loveland, Ohio.

« Previous 1 2 3 Page 4

Geoff Williams has written for numerous publications, including Entrepreneur, Consumer Reports, LIFE and Entertainment Weekly. He also is the author of Living Well with Bad Credit.

Like this article? Get this issue right now on iPad, Nook or Kindle Fire.

This article was originally published in the November 2006 print edition of Entrepreneur with the headline: Small-Business Answer Book.

Loading the player ...

The Good & Bad Habits of Smart People

Ads by Google

Share Your Thoughts