Should I apply for a patent for my idea?

By Tim Berry

Opinions expressed by Entrepreneur contributors are their own.

I have an idea how to at least double the sales of the iPod. With the blending of a variety of already existing technologies, this idea could be easily incorporated into the iPod, and sales would go through the ceiling. Should I apply for a patent for this idea before approaching Apple?
You're facing a-million-to-one odds. Apple has no incentive to talk to you because once it does, even if it was already working on the same thing, you can allege that Apple took it from you. And you can't do anything without Apple.

Don't waste your time and money applying for a patent without first having a good assessment from a patent attorney who knows the area well. Patents are hard to get, and a lot of them don't really protect the idea very well. A good patent that can actually protect a business costs thousands, often tens of thousands of dollars, and that's only the start; then you need to budget the legal costs of protecting the patent. It does you no good without the legal expenses to protect. That is, if it's written well enough to actually protect you.

I say take that inventive mind of yours and do something you can actually do without needing to piggyback on Apple, and build your own business.

Wavy Line
Tim Berry

Entrepreneur, Business Planner and Angel Investor

Tim Berry is the chairman of Eugene, Ore.-Palo Alto Software, which produces business-planning software. He founded Bplans.com and wrote The Plan-As-You-Go Business Plan, published by Entrepreneur Press. Berry is also a co-founder of HavePresence.com, a leader in a local angel-investment group and a judge of international business-plan competitions.

Editor's Pick

She's Been Coding Since Age 7 and Presented Her Life-Saving App to Tim Cook Last Year. Now 17, She's on Track to Solve Even Bigger Problems.
Lock
I Helped Grow 4 Unicorns Over 10 Years That Generated $18 Billion in Online Revenues. Here's What I've Learned.
Lock
Want to Break Bad Habits and Supercharge Your Business? Use This Technique.
Lock
Don't Have Any Clients But Need Customer Testimonials? Follow These 3 Tricks To Boost Your Rep.
Why Are Some Wines More Expensive Than Others? A Top Winemaker Gives a Full-Bodied Explanation.

Related Topics

Business News

'All Hell Is Going to Break Loose': Barbara Corcoran Issues Warning About Real Estate Market, Interest Rates

The "Shark Tank" star appeared on FOX Business' "The Claman Countdown" this week.

Money & Finance

3 Ways to Create Multiple (Big) Streams of Income

Here are three ways to create multiple streams of income. These strategies require effort and resources but offer significant financial potential.

Branding

How I Made Money From My Book Without Selling a Single Copy

Did you know you can make money with a book without selling copies? Here's exactly how I did it.

Science & Technology

How Deepfake Tech Could Affect the Journalism Industry

Deepfake technology adds another layer to navigate for journalists, which, if used ethically, could pave the way for new forms of storytelling.

Leadership

The Real Reason Why The Return to Office Movement is Failing is Revealed in New Study

There is a vivid sign of the disconnect between employees and their workplace, a glaring indication that companies need to revise their scripts to improve their hybrid and remote work policies.

Business News

Money Stored in Venmo, Other Payment Apps May Not Be 'Safe' in Event of Financial Crisis, Gov Warns

The Consumer Financial Protection Bureau is warning customers that money kept in popular payment apps is not protected in the same manner as banks.