I am assuming that you a "provisional" patent when you say "a pending patent". The reason to apply for a provisional patent is that during this year someone may see the device on YOU TUBE, modify and improve it slightly, and then apply for their own patent on it. All this occurring before you can get an investor and file your own patent. Besides who would be foolish enough to pay you any money for anything you display on YOU TUBE if you don't have any pending rights to it? Lets be clear - without a patent you don't own anything. When was the last time someone gave you money for nothing? If you don't have enough money to file for your own patent how are you going to have enough money to launch a lawsuit against someone who "steals" your invention? People who blatantly "steal" other peoples ideas and profit from them generally are a lot more savvy than you give them credit for, and generally have money. (Besides its not legally stealing because you don't own anything to steal.) What would you do if someone in China saw this great invention, make millions of them, and shipped them to the US where it was distributed for sales throughout the country before you got the investor and filed the patent and got the patent allowed. What exactly would you do? They have done nothing wrong at this point and in all reality probably ruined your sales market. The only thing left to do at this point would be to cry in your spilt milk and wish you would have called your patent attorney initially.
Answered on Jul 28th, 2011 at 2:27 PM