During the course of any research and development, there comes a time when every inventor must ask the question: “Am I ready to patent this development?” This question is best followed by two other questions: “Have I completed or proved my concept?” and “Have I or do I need to talk to ‘outsiders’ about my invention?” In addition to these questions, the type of invention (whether a mere improvement over existing technology or a pioneer invention), the breadth of the invention (and the correlation between the existence of working examples and the breadth of the invention), the amount of prior art, the need for investors, and the desire for foreign patent protection are all factors that should be taken into consideration when deciding when to file a patent application. These factors as well as the legal consequences of filing too early and too late will the focus of this presentation.