If you have a provisional patent application pending on your invention, you have one year to assess the production / distribution / marketing costs versus the potential profitability of your idea, before filing a nonprovisional patent application. If that sounds like a pretty big to-do list to complete in a year, it definitely is.
Holding a provisional patent application pending, but failing to file a nonprovisional patent application by the one year deadline, assumes you have abandoned your invention, you lose the right to that filing date, and could potentially lose ownership rights to the invention. This outcome is fine if you have done your research and determined that the invention isn’t a viable business. It’s not fine if you haven’t completed all of your research prior to the deadline. Unfortunately extensions are not possible.
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