Why Seek a Patent? Part 4
Because if you don’t, someone else will before too long!
Why bother going through the time and cost of patenting your idea? The answer is simple, you should seek patent protection for your concept because if you don’t someone else eventually will. In the last few parts of this series we discussed how Alexander Graham Bell, Thomas Edison and Robert Fulton patented products years after the products had been invented by other inventors. Their patent protection, however, helped them receive the credit and place in history as the Inventor!
Still undecided about whether or not you should seek a patent for your idea?
Then consider this:
Pai Gow Poker was created in 1985 by California casino owner, Sam Torosian. He contemplated patenting the game, but didn’t think it would be worthwhile. In less than one year, the game was played in every casino in Nevada, and today worldwide. It’s so popular that some casinos have more Pai Gow tables than Black Jack tables. But Sam never patented the game, and never got paid a dime for it. How much do you think he could’ve earned if he had applied for a patent? Estimates have it as high as $100 million.
Check back soon for a final thought on “Why Seek a Patent.”