A Provisional Patent Application gets you patent pending. You can remain in patent pending for 1 year while you gather funds and decide to file a full (Non-Provisional) patent. This gives you time to acquire those funds without allowing others to steal your idea/innovation/invention
This can be extremely beneficial to newer and smaller companies, as it offsets a lot of the cost of a patent while still securing your place for a full patent for the duration of the Provisional Patent Application's validity (1 year). It also gives you some time to further research & develop your product and get more coverage later on. So, once you file a Provisional Patent Application, you will have a year to procure funding for a full patent application. This gives you time to safely sell your product without the fear of it going unprotected.
Name & Background: 0:00
Detailed Description: 3:31
Claims: 17:46
Abstract: 21:33
How Would You Like The Application Filed: 23:33