What Does It Mean to Have an Own Invention
An own invention is a novel device, method, or process created by an individual or team. It solves a specific problem or improves an existing solution. In finance and business, an own invention can become a valuable intangible asset that generates revenue through licensing, sales, or product development.
How to Protect Your Own Invention
Protection usually starts with documenting the invention and checking existing patents. A utility patent can protect functional inventions, while a design patent protects ornamental shapes. You can search patent databases and consult a patent attorney to evaluate patentability and file an application. For more details on the patent process, visit USPTO Patent Basics.
How to Monetize an Own Invention
Monetization options include building a startup, licensing the invention to a company, or selling patent rights. Licensing can provide recurring royalties while reducing manufacturing risk. Investors and manufacturers often look for clear ownership, documented prior art, and a defined market need before committing capital.
