Difference between Patent pending and Patent granted
Patent-pending sounds great, doesn’t it? But it does differ from a regular patent. Not every patent application results in a granted patent.
“Patent pending” (sometimes abbreviated by “pat. pend.” or “pat. pending”) or “patent applied for” are legal designations or expressions that simply means that you have applied for, but have not yet been granted, a patent.
The words “patent pending” carry no formal legal significance but it communicates that you are “pursuing a patent” and have filed a provisional patent or a patent application. The patent applicants usually mark their articles with such words after filing an application because Patent-pending status protects your innovation while you are working through the patent process by keeping competitors from scooping your idea and marketing it as their own.
A strong patent portfolio help in fuelling investments for emerging tech companies. Investors often look to see whether a budding company has protected its intellectual property when determining whether to invest or not. It is more likely that you will be taken seriously if you come to the table with excellent technical knowledge and a patent-pending for your idea that’s been well-researched and profits projected, even if you don’t have all the connections with the big players. Holding a patent pending status also allows you to begin marketing for your product even before the patent is granted providing some control over the use of your product while warning others against attempting to file patents for substantially similar products.
However, the use of patent pending status by the patent applicant does not prohibit the third party to plead as innocent unless the patent number is indicated as the infringement action can be initiated only after the patent is granted.
Patent-pending status is temporary and only offers protection for a brief period of time, with protections similar to a regular patent. “Patent pending” (sometimes abbreviated by “pat. pend.” or “pat. pending”) or “patent applied for” are legal designations or expressions that can be used in relation to a product or process once a patent application for the product or process has been filed, but prior to the patent being issued or the application abandoned.
Not every patent application results in a granted patent. A patent can be licensed only after it is granted. Licensing a patent simply means that the patent owner grants permission to another individual/organization to make, use, sell etc. his/her patented invention according to agreed terms and conditions.