What do the terms “patent pending” and “patent applied for” mean?

If you're involved in the patent process, then it will certainly be beneficial to understand what specific terms and phrases mean.

Vietnam patent

The terms "patent pending" and "patent applied for" are virtually the same concept. This means that you have applied for the patent, but have not yet been issued. Essentially, it indicates that you have applied for protection, but the details and scope of that protection are yet to be determined.

You may be curious as to why this status has any bearing in the business world. Actually, it can let investors know that you have taken the first steps and have a plan in the works. For some, this is enough to move forward with further discussions.