Patent Pending?

When can you use the phrase "patent pending"? Is it enough to have thought about patenting an idea to say patent pending?
With my product I have gotten differing opinions as to whether or not it is patentable, and whether I should file for a provisional, utility, design patent .... yada yada. I have a partner that feels if we can not afford to defend it legally from a financial standpoint, why bother with a patent at all.
As I sort out of of this confusion is it okay to use "patent pending"? Is it of any value to use "patent pending"?rookaps2007-8-22 17:47:32
With my product I have gotten differing opinions as to whether or not it is patentable, and whether I should file for a provisional, utility, design patent .... yada yada. I have a partner that feels if we can not afford to defend it legally from a financial standpoint, why bother with a patent at all.
As I sort out of of this confusion is it okay to use "patent pending"? Is it of any value to use "patent pending"?rookaps2007-8-22 17:47:32
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Thanks All.