Question
We are considering applying for a patent. If I understand it correctly though, a patent application is defeated once the technology the patent is supposed to cover is publicly known. Is this correct? In any case, how "public" can we be about our product without defeating patentability? While we are certainly not planning to share our IP publicly, should we secure a patent before talking to -- for example -- investors/VCs?
Answers: 3 public & 3 private
The best rule of thumb to follow is to always file a patent application before you publicly disclose the invention to anyone outside of the inventors or the company the inventors work for - that way, there is never any issue concerning public disclosure and the possible loss of patent rights. In fact, you are probably in a stronger position to consult with investors/VCs when you already have your patent application on file - that way they can in fact see and appreciate what has been filed and applied for, for a patent, and also, they themselves do not have to worry about any disclosure issues which could possibly negatively impact the ultimate value of the patent.
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