What necessary step should an entrepreneur take before marketing a newly invented product?

Ensuring that patents are filed if applicable is a crucial step for an entrepreneur before marketing a newly invented product. Securing a patent gives the inventor legal protection for their invention, which prevents others from making, using, or selling the product without permission. This legal safeguard is essential in the competitive landscape of entrepreneurship, as it helps to establish ownership and can be a significant asset in attracting investors or buyers.

Additionally, having a patent can enhance the perceived value of the product, making it more attractive to potential customers and partners. By protecting the intellectual property associated with the invention, entrepreneurs can engage in marketing strategies with confidence, knowing that their unique ideas are legally protected from infringement. This legal groundwork is fundamental to a successful launch and ensures that the entrepreneur can capitalize on their invention without the fear of it being copied or exploited by others.

Conducting market research or developing a sales team are also important steps in the process but typically follow the securing of necessary legal protections. Similarly, purchasing advertising space is part of the marketing strategy that comes afterward but hinges on having a secure product that can be marketed effectively without threats of infringement.