Patent Pending: Definition, Example, How It Works, Vs. Parent
What Is Patent Pending? As a designation of the inventor's intent to grant exclusive rights to use, selling a patent , or license a product, the phrase patent pending is displayed on the product. Provisional patents are filed with the United States Patent and Trademark Office (USPTO). The patent-pending notice warns possible copycats that if and when the patent is approved, they could be sued for copying the idea. As a result, any later application to patent a substantially identical idea would have priority over the newly filed patent application . A patent is usually granted for a process or design that is unique. Example of Patent Pending Near-identical inventions can be granted patent pending status repeatedly before a patent is awarded and the invention goes to market, if ever. A new product idea has been developed by an entrepreneur named Joe. After conducting a patent search, he finds that a nearly identical invention has already received a provisional patent....