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RESTART to Starting Your Business #9: Patents and Your Gov't At Work! Read at your own risk.

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Blog entry by Ad Marketing Guy - Bill posted 08-17-2008 05:48 PM 1044 reads 1 time favorited 3 comments Add to Favorites Watch
« Part 8: Consider The Top 10 Do's and Don'ts to Starting YOUR Business Part 9 of RESTART to Starting Your Business series no next part

Fellow Lumberjock – Lee A. Jeesberger started a Great forum topic on patents, when you have the time take a look.

In continuing the small business startup series I thought you may find this interesting.

Here is another chapter for you to consider. . . I was reading a forum thread on one of my favorite sites that discussed patents. I normally feel entrepreneurs should spend more time developing their business and marketing plans and less time worrying about how to get a patent. This is especially true for the “small” startup company with limited time and money.We all know how . . .READ MORE

-- Bill - - Ad-Marketing Guy, Ramsey NJ



3 comments so far

View ChicoWoodnut's profile

ChicoWoodnut

904 posts in 2568 days


#1 posted 08-17-2008 11:32 PM

I guess I am a little confused. Are you saying that a patent is too difficult to aquire and thus of less value? How else can a business protect its intellectual property?

-- Scott - Chico California http://chicowoodnut.home.comcast.net

View EEngineer's profile

EEngineer

906 posts in 2366 days


#2 posted 08-18-2008 12:41 AM

I am an electronic design engineer. Patents (arguably) are even more important in that business. I have gotten to the point where I cannot even be concerned about patents. No matter what you do, no matter how careful you are, you willl always find yourself with a patent infringement suit! The system has become a way for people to make money by doing no work, NOT a system to protect people’s original inventions. If enough people ignore the system, maybe they will change it to match what Our Forefathers intended; a system to protect actual inventions, NOT ideas!

-- "Find out what you cannot do and then go do it!"

View Ad Marketing Guy - Bill's profile

Ad Marketing Guy - Bill

314 posts in 2551 days


#3 posted 08-18-2008 03:47 PM

Scott,

No, I believe a patent is never too difficult to obtain. But, it is a costly process. One must first determine the intent of securing the patent: Examples:
- “Will I Start a Business with this patent”?
alternative,
- “Will I develop a product with patent, and seek royalties”?
alternative,
-” Will I need capital to develop both product and patent before I start a business”?
alternative
-”Will I create NDA and NCA (Non-Compete Agreements) and seek out marketing, manufacturing, financial or idea partners?”

The questions are numerous, but it is important to FIRST decide what is your goal, before you go the FULL patent route. Depending on complexity of product / design / engineering, etc, the process can become very, very, very costly. Many a person has been either discouraged or simply ran out of cash trying to get a patent only to find the “potential market” simply passed him by- that is why a business plan should be FIRST developed to determine the intent of product and funding for the business or patent process.

I know one person, who after obtaining his patent ($24,000), 12 months later spent 4 times that amount in defending his patent from the “ripoffs”.

There are numerous ways to protect “intellectual” property. But remember nothing is more important than sound business and legal advice.

If you read the Blog article posted you will see how the Government is rewritting the laws to give the upper hand to “big business” -

EEngineer’s comments are well stated -

My overall point – get to market as fast as possible with a solid and sound business / marketing plan to build the business as fast as you can. If it is the greatest idea around, patent it only if you can afford to do so, otherwise take your changes.

-- Bill - - Ad-Marketing Guy, Ramsey NJ

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