Is it possible that it may be good strategy to not file for a patent?

Question

If I have an invention that will be commercially fabulous, is it possible that it may be better in the long run to simply put it into production without waiting for the patent process? If there are groups that come forward to sue for infringement, it may be more economical to reach a settlement than it is to wait for 3 years for a patent approval (or denial). Since a patent includes public disclosure, publication of trade secrets, with great red tape and cost, would it be equal risk to file or not file?

Answer 1

Yes.  But, your questions are more complicated than a simple yes/no. There are definitely situations where it is better to keep an invention a trade secret rather than filing a patent which does require publication. Whether it a good idea depends primarily on the practicality of keeping the information secret and the risks of someone else filing on the same thing. If you elect not to file, someone else could get a patent on it and then file an infringement suit against you. While reaching a settlement may be feasible, it could also be expensive. The risks of filing compared to keeping a trade secret are affected by many variables.  In addition to the two factors described above, the potential patentability (how novel your invention is, what is the prior art of record) and the type of competitors you face could be important. You probably need the advice of an intellectual property attorney to evaluate your options.

Answer 2

yes