The power of a Patent Pending Status: How it impacts your customers, investors and competitors
In the competitive landscape of innovation, intellectual property is a valuable asset. One of the most powerful tools an innovator or company can have in their arsenal is a patent. As soon as you file your patent application, you are legally entitled to use the “Patent Pending” status, and it provides immediate benefits across various aspects of your business—from customer trust to investor confidence and even competitive positioning. Telling the world that you have a Patent Pending can offer some of the strategic advantages of an actual patent... Let us explain what we mean!
1. Building customer trust through Patent Pending Status
Customers are more conscious than ever about the products they purchase. They want to feel secure in their buying decisions, and a patent pending status can offer that reassurance. When your product carries this label, it signals to customers that your technology or innovation is unique and will be protected.
When you advertise a patent pending status, you are effectively telling your customers: "You can only get this here”.
By knowing that you’ve taken steps to protect your intellectual property, customers feel more confident that they are purchasing something exclusive, which they can’t just get from another company. This psychological trigger increases brand loyalty and gives your product an edge over others that may not be protected.
2. Patent Pending: A powerful message to investors
When you’re in front of potential investors, especially in technology or innovation-driven industries, having a patent pending can serve as a strong selling point. Investors are looking for companies that not only have unique solutions but also understand how to protect their ideas from being copied.
Being able to state that your technology will be patent-protected—through your patent pending status—immediately strengthens your investment case. It tells investors that you’ve taken proactive steps to safeguard the future revenue streams of your product. For investors, this significantly reduces the risk associated with backing your business.
3. Strategic advantage over competitors
One often overlooked advantage of a patent pending status is the pressure it puts on your competitors. When you use the term “patent pending”, you put the public on notice that the underlying invention may be protected and that copying could infringe. This means your competitors will have to be cautious in how they develop their own products to ensure they aren’t infringing on your intellectual property. This creates a form of strategic leverage.
Essentially, you put competitors in a position where they need to invest more time and resources to innovate around your idea, rather than copying or following your lead.
Gaining a patent pending status is not just about eventually securing a patent; it’s a strategic move that provides immediate benefits to your business. So, if you’ve filed for a patent, don’t overlook the significance of letting the world know. Use it to your advantage in marketing, sales conversations, investor meetings, and strategic positioning. It’s more than just a technical term—it’s a message that says your product is valuable, protected, and ready to lead the market.
A couple of final comments. It is important to keep in mind that patent pending is not equivalent to a granted patent - sometimes a pending patent will not be granted because it is refused, abandoned or withdrawn. Additionally, if your patent application is no longer pending, many countries do not allow you to continue using the phrase “patent pending” or “patent applied for”, so you will need to adapt your marketing materials if this happens. If you are not sure, please consult a patent attorney. Of course Lightbringer can help you with this!
