What is considered a small entity?
ANSWER
A small entity is defined under the US patent statute and the Small Business Administration rules. Although the actual definition is complex, it is generally considered that a small entity is an independent inventor who is not already wealthy, a company having less than 500 employees, an institute of higher education, or an entity which has not been licensed to a wealthy individual or a company with more than 500 employees.
This having been said, do look into this more closely if you are not an independent inventor or if you have licensed to a company. These rules change from time to time as well and may not apply at a future date.
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Dr Patentsteins' Tips
When you think you might have an invention with sales potential, immediately discuss the idea with a registered patent practitioner | Ensure you sketch all significant elements of your invention on paper, writing as much detail and comments regarding its' operation | After creating any descriptions or sketching your invention, ensure a witness (or even two) sign the paper to support your claim |
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