tag:blogger.com,1999:blog-88420753291514879502024-03-29T07:00:04.047-04:00Indiana Inventors AssociationUnknownnoreply@blogger.comBlogger88125tag:blogger.com,1999:blog-8842075329151487950.post-23816525831613875972023-12-01T02:20:00.010-05:002024-03-18T05:11:52.499-04:00November 2023<p><b style="font-family: arial;"><a href="https://usinventor.org/author/randy/">Randy Landreneau</a></b><span style="font-family: arial;">
(president, US Inventor; president, Complete Product Development) and <b style="mso-bidi-font-weight: normal;"><a href="https://ipwatchdog.com/people/dirk-tomsin/">Dirk Tomsin</a></b> (director
of projects, US Inventor; co-owner, CrossFit Untapped) gave us reason to think that
our patent system is too unstable for individual inventors.</span></p>
<p class="MsoNormal"><span style="font-family: arial;">Inventing and marketing a product take effort, insight, money,
and time.<span style="mso-spacerun: yes;"> </span>Innovators want to be
reimbursed or rewarded for their investment in helping others.<span style="mso-spacerun: yes;"> </span>Our <a href="https://constitution.congress.gov/browse/essay/artI-S8-C8-1/ALDE_00013060/">government</a>
knows that a thriving economy depends on inventions.<span style="mso-spacerun: yes;"> </span>So to keep inventions coming, it rewards
inventors with <a href="https://www.epo.org/en/new-to-patents/why-do-we-have-patents">patents</a>—legal
protection from market competition for a limited time in exchange for sharing
the invention with the public.<span style="mso-spacerun: yes;"> </span>This protection
consists of courts and a legal structure that are meant to help inventors repel
competitors.<span style="mso-spacerun: yes;"> </span>Innovators need this
protection to be stable so they can estimate the costs, benefits, and risks of
starting a new business.<span style="mso-spacerun: yes;"> </span>Unfortunately
patents are too often unstable.</span></p>
<p class="MsoNormal"><b style="font-family: arial;">Molly Metz</b></p>
<p class="MsoNormal"><span style="font-family: arial;">Consider <a href="https://usinventor.org/portfolio-items/molly-metz-inventor-of-the-revolution-rope/?portfolioCats=5543">Molly
Metz</a>.<span style="mso-spacerun: yes;"> </span>She and Paul Borth invented a
jump rope and spent $30,000 to patent it (<a href="https://www.freepatentsonline.com/7789809.pdf">'809</a> in 2010 and <a href="https://www.freepatentsonline.com/8136208.pdf">'208</a> in 2012).<span style="mso-spacerun: yes;"> </span>Metz
sold that jump rope through her company <a href="https://jumpnrope.com/">JumpNrope</a>
and opened a gym dedicated in large part to jumping rope.<span style="mso-spacerun: yes;"> </span>Companies in India
and China
immediately began making, and American companies immediately began importing
and selling, her jump rope without her permission.<span style="mso-spacerun: yes;"> </span>So Metz
enforced her patents.</span></p>
<p class="MsoNormal"><span style="font-family: arial;">By 2018 she had stopped all U.S. companies, except Rogue
Fitness, from selling her jump rope without her permission.<span style="mso-spacerun: yes;"> </span>In 2018 in a U.S. District Court, Metz <a href="https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwi-vZXhl9KCAxUlEzQIHRSdBgcQFnoECCQQAQ&url=https%3A%2F%2Finsight.rpxcorp.com%2Flitigation_documents%2F13002301&usg=AOvVaw2Eu69jRdMb2kPx0TUiJNG2&opi=89978449">sued</a>
<span style="mso-spacerun: yes;"> </span>to stop Rogue Fitness from infringing
her patents.<span style="mso-spacerun: yes;"> </span>Before the case was decided,
Rogue Fitness challenged the USPTO (<a href="https://developer.uspto.gov/ptab-web/#/search/documents?proceedingNumber=IPR2019-00586">‘586</a>
and <a href="https://developer.uspto.gov/ptab-web/#/search/documents?proceedingNumber=IPR2019-00587">‘587</a>),
claiming that the USPTO had invalidly issued Metz’s patents.<span style="mso-spacerun: yes;"> </span>Challenged, not in a court (part of our
government’s judicial branch), but in the USPTO’s administrative tribunal, the
Patent Trial and Appeal Board (<a href="https://www.uspto.gov/patents/ptab/about-ptab">PTAB</a>; part of our
government’s executive branch).<span style="mso-spacerun: yes;"> </span>PTAB
invalidated both patents, so Metz
<a href="https://oralarguments.cafc.uscourts.gov/default.aspx?fl=20-2284_10042021.mp3">appealed</a>
to the <a href="https://cafc.uscourts.gov/opinions-orders/20-2284.rule_36_judgment.10-6-2021_1845092.pdf">Court
of Appeals for the Federal Circuit</a>.<span style="mso-spacerun: yes;"> </span>As
is typical with tribunal cases, the court deferred to the tribunal (PTAB) and
upheld its decision.<span style="mso-spacerun: yes;"> </span>Metz <a href="https://www.supremecourt.gov/search.aspx?filename=/docket/docketfiles/html/public/22-298.html">appealed</a>
to the Supreme Court, which declined to hear the case.</span></p>
<p class="MsoNormal"><span style="font-family: arial;">This put Metz
far behind square one.<span style="mso-spacerun: yes;"> </span>Not only did she
lose her patents, she lost her trust in our patent system and lost the time,
effort, and several hundred thousand dollars she invested in getting and
defending her patents.<span style="mso-spacerun: yes;"> </span>As salt on her
wound, the public is now free to make, sell, and use her jump rope.<span style="mso-spacerun: yes;"> </span>Metz
is not the only <a href="https://usinventor.org/our-inventors/">inventor</a> to
suffer this misfortune.</span></p>
<p class="MsoNormal"><span style="font-family: arial;">The government is achieving its immediate objective of
stimulating the economy.<span style="mso-spacerun: yes;"> </span>But by killing
the goose that laid the golden egg, it is failing to develop a thriving economy.<span style="mso-spacerun: yes;"> </span></span></p>
<p class="MsoNormal"><b style="font-family: arial;">Patent Office Error</b></p>
<p class="MsoNormal"><span style="font-family: arial;">The patent office gave and the patent office took away.<span style="mso-spacerun: yes;"> </span>This federal agency disagreed with itself as
to the patentability of Metz’s
inventions before and after granting her patents.<span style="mso-spacerun: yes;"> </span>The simplest explanation for this is that the
USPTO failed at quality control.<span style="mso-spacerun: yes;"> </span>Another
explanation preferred by some is that PTAB is unfair; that it favors big over
small businesses, that it practices crony capitalism.<span style="mso-spacerun: yes;"> </span>Either way, an error made by the USPTO hurt Metz.<span style="mso-spacerun: yes;"> </span>Shouldn’t the USPTO be accountable to her?<span style="mso-spacerun: yes;"> </span>Couldn’t Congress pass a law that limits
patent invalidation to, say, one year from issue? <span style="mso-spacerun: yes;"> </span>Or pass a law that gives an inventor clear
title to a patent when it is issued?<span style="mso-spacerun: yes;"> </span>A
thriving economy requires a stable legal environment.</span></p>
<p class="MsoNormal"><b style="font-family: arial;">Administrative
Government</b></p>
<p class="MsoNormal"><span style="font-family: arial;">In our legal system an administrative tribunal (such as
PTAB) usually decides disputes between citizens and federal agencies (such as
the USPTO).<span style="mso-spacerun: yes;"> </span>Courts have the final say,
but usually defer to tribunal decisions.<span style="mso-spacerun: yes;">
</span>Whether tribunals (or administrative government in general) are
constitutional is uncertain.<span style="mso-spacerun: yes;"> </span>Regardless,
<a href="https://lawreview.gmu.edu/print__issues/why-we-need-federal-administrative-courts/">examples</a>
of tribunal practices that are widely seen as questionable, irregular, or
abusive abound.<span style="mso-spacerun: yes;"> </span>PTAB is no exception.</span></p>
<p class="MsoNormal"><b style="font-family: arial;">PTAB or Court?</b></p>
<p class="MsoNormal"><span style="font-family: arial;">Patent challengers often prefer to start their legal actions
in PTAB instead of in a district court because:</span></p>
<p class="MsoNormal" style="margin-left: 0.25in;"><span style="font-family: arial;">Their <a href="https://www.finnegan.com/en/insights/articles/ptab-basics-key-features-of-trials-before-the-uspto.html">burden
of proof</a> is lighter in PTAB (preponderance of the evidence) than in court
(clear and convincing evidence);</span></p>
<p class="MsoNormal" style="margin-left: 0.25in;"><span style="font-family: arial;">PTAB reviews <i style="mso-bidi-font-style: normal;">inter partes</i> cases (such as Metz’s)
only if the USPTO director thinks the challenger is <a href="https://www.law.cornell.edu/uscode/text/35/314">likely</a> to win
invalidation of at least one patent claim (the success rate of challengers is <a href="https://usinventor.org/assessing-ptab-invalidity-rates/">84%</a>); courts
hear almost all challenges;</span></p>
<p class="MsoNormal" style="margin-left: 0.25in;"><span style="font-family: arial;">PTAB judges are more <a href="https://www.patexia.com/ptab_court.html">comfortable</a> than is a court
jury with invalidating a patent; </span></p>
<p class="MsoNormal" style="margin-left: 0.25in;"><span style="font-family: arial;">PTAB rarely allows live testimony,
so testimony from an affable charismatic witness for a patent owner is almost
always reduced to a submitted document; courts routinely allow live testimony;</span></p>
<p class="MsoNormal" style="margin-left: 0.25in;"><span style="font-family: arial;">PTAB is usually concerned only
with technical merit while courts may also be concerned with social issues (eg,
an heroic lone inventor fighting a corporation); and</span></p>
<p class="MsoNormal" style="margin-left: 0.25in;"><span style="font-family: arial;">PTAB (several hundred thousand
dollars) is much less expensive than a court (several million dollars).</span></p><p class="MsoNormal" style="text-align: left;"><b style="font-family: arial;">Permanent Injunctions</b></p>
<p class="MsoNormal"><span style="font-family: arial;">If Metz’s
patents had been found valid, would the patent system have stopped the
infringers?<span style="mso-spacerun: yes;"> </span>Maybe not.<span style="mso-spacerun: yes;"> </span>Before 2006, the Court of Appeals for the
Federal Circuit would almost always grant a permanent injunction to stop
infringement.<span style="mso-spacerun: yes;"> </span>The Supreme Court ended
that in <a href="https://supreme.justia.com/cases/federal/us/547/388/#top">eBay
v. MercExchange</a>.<span style="mso-spacerun: yes;"> </span>To get a permanent
injunction, Metz
would have had to show that:</span></p>
<p class="MsoNormal" style="margin-left: 0.25in;"><span style="font-family: arial;">(1) She suffered an irreparable injury;</span></p>
<p class="MsoNormal" style="margin-left: 0.5in; text-indent: -0.25in;"><span style="font-family: arial;">(2) Available
legal remedies were inadequate to compensate for that injury;</span></p>
<p class="MsoNormal" style="margin-left: 0.5in; text-indent: -0.25in;"><span style="font-family: arial;">(3) Considering
the balance of hardships between Metz
and the defendant, a remedy in equity was warranted; and</span></p>
<p class="MsoNormal" style="margin-left: 0.5in; text-indent: -0.25in;"><span style="font-family: arial;">(4) The public
interest would not have been disserved by a permanent injunction.</span></p>
<p class="MsoNormal"><span style="font-family: arial;">This decision <a href="https://www.finnegan.com/en/insights/articles/implications-of-ebay-v-mercexchange.html">disconnects</a>
a patent owner’s right to exclude from how to exclude. For example, a patent
owner might be compensated with monetary damages (which are typically a small <a href="https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwibmMLDh-mCAxXDg2oFHTqGCgwQFnoECBQQAQ&url=https%3A%2F%2Fjolt.law.harvard.edu%2Farticles%2Fpdf%2Fv20%2F20HarvJLTech235.pdf&usg=AOvVaw3rE21RKxkcV7GOAhIjiPfk&opi=89978449">fraction</a>
of the infringer’s profits), but not with a permanent injunction, for
infringement.<span style="mso-spacerun: yes;"> </span>Different <a href="https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwibmMLDh-mCAxXDg2oFHTqGCgwQFnoECBQQAQ&url=https%3A%2F%2Fjolt.law.harvard.edu%2Farticles%2Fpdf%2Fv20%2F20HarvJLTech235.pdf&usg=AOvVaw3rE21RKxkcV7GOAhIjiPfk&opi=89978449">rules</a>
now apply to patents and to property, so it may be no longer useful to think of
patents as property.</span></p>
<p class="MsoNormal"><span style="font-family: arial;">Patent law <a href="https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwibmMLDh-mCAxXDg2oFHTqGCgwQFnoECBQQAQ&url=https%3A%2F%2Fjolt.law.harvard.edu%2Farticles%2Fpdf%2Fv20%2F20HarvJLTech235.pdf&usg=AOvVaw3rE21RKxkcV7GOAhIjiPfk&opi=89978449">favors</a>
corporations over individuals.<span style="mso-spacerun: yes;"> </span>Before the
Court’s decision, the uncertainty and high cost of patent litigation and the
ability to have a patent re-examined encouraged corporations to infringe
patents held by individuals.<span style="mso-spacerun: yes;"> </span>The Court’s
decision encouraged corporations even more by making permanent injunctions
against infringement less available.<span style="mso-spacerun: yes;"> </span>In
particular, it will be difficult for a patent owner to show irreparable injury
if he licenses, but does not make, use, or sell, embodiments of the invention.</span></p>
<p class="MsoNormal"><b style="font-family: arial;">Individual Inventors</b></p>
<p class="MsoNormal"><span style="font-family: arial;">Patents held by individuals are still valuable.<span style="mso-spacerun: yes;"> </span>Inventions that are not too profitable are
unlikely to attract the attention of corporations.<span style="mso-spacerun: yes;"> </span>The patent system worked for Metz until she had to contend with Rogue
Fitness.</span></p>
<p class="MsoNormal"><span style="font-family: arial;">Folks at <a href="https://usinventor.org/">U.S. Inventor</a>
are working hard to make patents more useful to the individual inventor.<span style="mso-spacerun: yes;"> </span>For more information, to get involved, or to
support them, take a look at their web site.</span></p>
<p class="MsoNormal"><b style="font-family: arial;"><span style="font-size: 11.5pt;">Thank you,</span></b><span style="font-family: arial; font-size: 11.5pt;"> Mr. Landreneau and
Mr. Tomsin, for helping us understand the state of American innovation.</span></p>Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8842075329151487950.post-31874401663048715572023-08-21T03:22:00.005-04:002024-03-18T05:11:53.015-04:00August 2023<p><span style="font-family: arial;">Inventors now have a new way to advertise their
inventions.<span style="mso-spacerun: yes;"> </span><a href="https://www.linkedin.com/in/craig-whitcomb-22a53425a">Craig Whitcomb</a>
told us about his new creation, <b style="mso-bidi-font-weight: normal;"><a href="https://remarkableventure.com/">Remarkable Venture</a></b>.</span></p>
<p class="MsoNormal"><span style="font-family: arial;">Mr. Whitcomb recommends that an inventor build the value of his
invention by moving through <a href="https://remarkableventure.com/11-steps-of-remarkable-venture-inventing/">11
steps</a>.</span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l0 level1 lfo1; mso-text-indent-alt: 0in; tab-stops: .25in list .5in; text-indent: -0.25in;"><span style="font-family: arial;"><span style="mso-list: Ignore;"><span style="font-feature-settings: normal; font-kerning: auto; font-language-override: normal; font-optical-sizing: auto; font-size-adjust: none; font-size: 7pt; font-stretch: normal; font-style: normal; font-variant: normal; font-variation-settings: normal; font-weight: normal; line-height: normal;">
</span>1)</span> Start by identifying a <a href="https://ipwatchdog.com/2015/02/14/plausibly-estimating-the-market-for-your-invention/id=54785/">problem</a>
<a href="https://www.linkedin.com/pulse/how-identify-problems-worth-solving-andreas-von-criegern">worth</a>
solving:<span style="mso-spacerun: yes;"> </span>relevant to the customers you
want, solvable, and marketable.</span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l0 level1 lfo1; mso-text-indent-alt: 0in; tab-stops: .25in list .5in; text-indent: -0.25in;"><span style="font-family: arial;"><span style="mso-list: Ignore;"><span style="font-feature-settings: normal; font-kerning: auto; font-language-override: normal; font-optical-sizing: auto; font-size-adjust: none; font-size: 7pt; font-stretch: normal; font-style: normal; font-variant: normal; font-variation-settings: normal; font-weight: normal; line-height: normal;">
</span>2)</span> Invent a rough draft of a solution to that
problem, a proof of concept showing that a final solution is feasible.</span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l0 level1 lfo1; mso-text-indent-alt: 0in; tab-stops: .25in list .5in; text-indent: -0.25in;"><span style="font-family: arial;"><span style="mso-list: Ignore;"><span style="font-feature-settings: normal; font-kerning: auto; font-language-override: normal; font-optical-sizing: auto; font-size-adjust: none; font-size: 7pt; font-stretch: normal; font-style: normal; font-variant: normal; font-variation-settings: normal; font-weight: normal; line-height: normal;">
</span>3)</span> Find out if someone else already marketed
your solution.<span style="mso-spacerun: yes;"> </span>Search sites, such as <a href="https://www.amazon.com/">Amazon.com</a> or the <a href="https://middlebury.libguides.com/internetarchive/search">Internet Archive</a>,
for products similar to your solution/invention.</span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l0 level1 lfo1; mso-text-indent-alt: 0in; tab-stops: .25in list .5in; text-indent: -0.25in;"><span style="font-family: arial;"><span style="mso-list: Ignore;"><span style="font-feature-settings: normal; font-kerning: auto; font-language-override: normal; font-optical-sizing: auto; font-size-adjust: none; font-size: 7pt; font-stretch: normal; font-style: normal; font-variant: normal; font-variation-settings: normal; font-weight: normal; line-height: normal;">
</span>4)</span> Find out if someone else already patented
your invention.<span style="mso-spacerun: yes;"> </span>Search sites, such as <a href="https://ppubs.uspto.gov/pubwebapp/static/pages/landing.html">Patent
Public Search</a> or <a href="https://www.freepatentsonline.com/">Free Patents
Online</a>, for claims that define inventions similar to yours.</span></p>
<p class="MsoNormal" style="margin-left: 0.5in; mso-list: l0 level1 lfo1; mso-text-indent-alt: -.25in; tab-stops: .25in list .5in; text-indent: -0.5in;"><span style="font-family: arial;"><span style="mso-list: Ignore;"><span style="font-feature-settings: normal; font-kerning: auto; font-language-override: normal; font-optical-sizing: auto; font-size-adjust: none; font-size: 7pt; font-stretch: normal; font-style: normal; font-variant: normal; font-variation-settings: normal; font-weight: normal; line-height: normal;">
</span>5)</span> Based on what your searches find, adapt and finalize
your invention.</span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l0 level1 lfo1; mso-text-indent-alt: 0in; tab-stops: .25in list .5in; text-indent: -0.25in;"><span style="font-family: arial;"><span style="mso-list: Ignore;"><span style="font-feature-settings: normal; font-kerning: auto; font-language-override: normal; font-optical-sizing: auto; font-size-adjust: none; font-size: 7pt; font-stretch: normal; font-style: normal; font-variant: normal; font-variation-settings: normal; font-weight: normal; line-height: normal;">
</span>6)</span> Create a working prototype of your invention
to show that your invention is practical.</span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l0 level1 lfo1; mso-text-indent-alt: 0in; tab-stops: .25in list .5in; text-indent: -0.25in;"><span style="font-family: arial;"><span style="mso-list: Ignore;"><span style="font-feature-settings: normal; font-kerning: auto; font-language-override: normal; font-optical-sizing: auto; font-size-adjust: none; font-size: 7pt; font-stretch: normal; font-style: normal; font-variant: normal; font-variation-settings: normal; font-weight: normal; line-height: normal;">
</span>7)</span> Create a <a href="https://www.masterclass.com/articles/sell-sheet#1ayHwLNEvZcCnrPejhH1Cj">sell
sheet</a> or video of your invention and a sales pitch to help persuade others
of the value of your invention.</span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l0 level1 lfo1; mso-text-indent-alt: 0in; tab-stops: .25in list .5in; text-indent: -0.25in;"><span style="font-family: arial;"><span style="mso-list: Ignore;"><span style="font-feature-settings: normal; font-kerning: auto; font-language-override: normal; font-optical-sizing: auto; font-size-adjust: none; font-size: 7pt; font-stretch: normal; font-style: normal; font-variant: normal; font-variation-settings: normal; font-weight: normal; line-height: normal;">
</span>8)</span> Identify an attorney who can help with
negotiations and licensing of your invention.</span></p>
<p class="MsoNormal" style="margin-left: 0.5in; mso-list: l0 level1 lfo1; mso-text-indent-alt: -.25in; tab-stops: .25in list .5in; text-indent: -0.5in;"><span style="font-family: arial;"><span style="mso-list: Ignore;"><span style="font-feature-settings: normal; font-kerning: auto; font-language-override: normal; font-optical-sizing: auto; font-size-adjust: none; font-size: 7pt; font-stretch: normal; font-style: normal; font-variant: normal; font-variation-settings: normal; font-weight: normal; line-height: normal;">
</span>9)</span> Create a listing of your invention on the
Remarkable Venture site.</span></p>
<p class="MsoNormal" style="margin-left: 0.25in;"><span style="font-family: arial;">This is an opportunity to build
connections with potential licensees, investors, and business partners and with
other inventors.<span style="mso-spacerun: yes;"> </span>A listing identifies
both the problem an invention solves and benefits of the solution without
necessarily describing the particular solution, thereby protecting an
inventor’s right to seek patent protection for his invention.<span style="mso-spacerun: yes;"> </span>Each lister is encouraged to identify and
invite those of interest to view his listing.<span style="mso-spacerun: yes;">
</span>The web site enables those interested in solving a particular problem to
contact the lister.<span style="mso-spacerun: yes;"> </span>A nondisclosure
agreement is included to facilitate communication.</span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l0 level1 lfo1; mso-text-indent-alt: 0in; tab-stops: .25in list .5in; text-indent: -0.25in;"><span style="font-family: arial;"><span style="mso-list: Ignore;"><span style="font-feature-settings: normal; font-kerning: auto; font-language-override: normal; font-optical-sizing: auto; font-size-adjust: none; font-size: 7pt; font-stretch: normal; font-style: normal; font-variant: normal; font-variation-settings: normal; font-weight: normal; line-height: normal;"> </span>10)</span>
Prepare and file a provisional patent application.<span style="mso-spacerun: yes;"> </span>Doing so shows others that you are willing to
risk your resources to market your invention and encourages them to do the
same.<span style="mso-spacerun: yes;"> </span>Doing so also lets you discuss
details of your invention disclosed in the application while protecting your
right to seek a patent. </span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l0 level1 lfo1; mso-text-indent-alt: 0in; tab-stops: .25in list .5in; text-indent: -0.25in;"><span style="font-family: arial;"><span style="mso-list: Ignore;"><span style="font-feature-settings: normal; font-kerning: auto; font-language-override: normal; font-optical-sizing: auto; font-size-adjust: none; font-size: 7pt; font-stretch: normal; font-style: normal; font-variant: normal; font-variation-settings: normal; font-weight: normal; line-height: normal;"> </span>11)</span>
Share a link to your listing with other inventors and with potential licensees.<span style="mso-spacerun: yes;"> </span>The web site provides a way for interested parties
to contact the lister; subsequent communication occurs by other means.</span></p>
<p class="MsoNormal"><span style="font-family: arial;">Remarkable Venture has 4 levels of <a href="https://remarkableventure.com/pricing/">access</a>.<span style="mso-spacerun: yes;"> </span>Free lets you contact
listers and read reviews and blog posts.<span style="mso-spacerun: yes;"> </span>Paying a monthly fee gives you access to all information in a
listing, to participating in group discussions, and to posting your own listing.</span></p>
<p class="MsoNormal"><span style="font-family: arial;">Thank you, Mr. Whitcomb, for sharing your helpful resource
with us.</span></p>
Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8842075329151487950.post-1957274930238752982023-04-25T04:18:00.008-04:002024-03-18T05:11:53.401-04:00April 2023<p><!--[if gte mso 9]><xml>
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</p><p class="MsoNormal"><span style="font-family: arial;">For an independent inventor, especially one new to an
industry, there is no place better to learn and to network than a professional <a href="https://www.merriam-webster.com/dictionary/trade%20show">trade show</a> (a
large public display that promotes awareness and sales of new products within a
particular industry).<span style="mso-spacerun: yes;"> </span>Inventor <b style="mso-bidi-font-weight: normal;">Kenton Brett</b> unpacked for us many of the
benefits this tool offers.</span></p>
<p class="MsoNormal"><span style="font-family: arial;">• Meet people who can help you.</span></p>
<p class="MsoNormal" style="margin-left: 0.25in;"><span style="font-family: arial;">Engage with anyone who wants to
interact with you.<span style="mso-spacerun: yes;"> </span>Everyone there wants
to do business and you never know who might be able to help you.<span style="mso-spacerun: yes;"> </span>Someone who might become your friend,
business partner, or client; who can answer your questions (now or later); who
can connect you to the industry and make you feel like an insider; or who can
give you a contract.</span></p>
<p class="MsoNormal" style="margin-left: 0.25in;"><span style="font-family: arial;">There are no company gatekeepers
at a trade show, so it is often easy to talk with a company’s leaders.<span style="mso-spacerun: yes;"> </span>Scan the exhibitor directory to see who might
share your interests (maybe the president or head of marketing of a company),
note where their exhibits will be, and either just show up at the exhibits or
call ahead of time to make an appointment.</span></p>
<p class="MsoNormal" style="margin-left: 0.25in;"><span style="font-family: arial;">You can meet helpful people in
many other places too: sharing a cab ride from your hotel to the show, standing
next to someone in line, or sharing a table with someone at lunch.<span style="mso-spacerun: yes;"> </span></span></p>
<p class="MsoNormal"><span style="font-family: arial;">• Help yourself become an expert in your field by learning
what others are doing.</span></p>
<p class="MsoNormal" style="margin-left: 0.25in;"><span style="font-family: arial;">Attend educational sessions at the
show to get a better understanding of the industry and of your technology.</span></p>
<p class="MsoNormal" style="margin-left: 0.25in;"><span style="font-family: arial;">Visit exhibits to help you learn
quickly who some of the important players in the industry are and how they
compare with each other.<span style="mso-spacerun: yes;"> </span>Exhibitors can
tell you which companies practice <a href="https://oxford-review.com/oxford-review-encyclopaedia-terms/encyclopaedia-open-innovation-definition-explanation/">open
innovation</a> and in which countries your industry resides.</span></p>
<p class="MsoNormal"><span style="font-family: arial;">• Get ideas about what to invent.</span></p>
<p class="MsoNormal" style="margin-left: 0.25in;"><span style="font-family: arial;">You can have more confidence in the
value of your invention if it is not displayed and if similar inventions displayed
are inferior to yours.<span style="mso-spacerun: yes;"> </span>If someone at the
show displays your invention or a better version of it, you know to move on to
your next great idea.</span></p>
<p class="MsoNormal" style="margin-left: 0.25in;"><span style="font-family: arial;">If your invention is protected by
a patent application, consider showing prospective clients and others (not your
competitors) a short video of your invention in action.<span style="mso-spacerun: yes;"> </span>You might also show them a sell sheet and
your best prototype (if your product is small).<span style="mso-spacerun: yes;">
</span>Ask for their honest feedback on what they like and dislike about your
invention.</span></p>
<p class="MsoNormal" style="margin-left: 0.25in;"><span style="font-family: arial;">Visit exhibits that interest you
in general, whether or not they relate directly to your invention.<span style="mso-spacerun: yes;"> </span>Both impressive and not so impressive
inventions might inspire you to modify your current invention or to start work
on a completely new one.<span style="mso-spacerun: yes;"> </span>Engineers and
scientists, not salesmen, can tell you about technology.<span style="mso-spacerun: yes;"> </span>Salesmen can tell you about customer
complaints and about what customers want but can’t get.</span></p>
<p class="MsoNormal"><span style="font-family: arial;">• Learn how to communicate your invention.</span></p>
<p class="MsoNormal" style="margin-left: 0.25in;"><span style="font-family: arial;">For people you meet, prepare a 2-3
sentence description of who you are (eg, a product developer) and what you do
(eg, develop products that solve some specific problem).</span></p>
<p class="MsoNormal" style="margin-left: 0.25in;"><span style="font-family: arial;">Listen to the exhibitors and learn
how to clearly explain what problems a product solves and what a product is and
does.</span></p>
<p class="MsoNormal"><span style="font-family: arial;">• Learn how to go about marketing or manufacturing your
invention.</span></p>
<p class="MsoNormal" style="margin-left: 0.25in;"><span style="font-family: arial;">Talk with exhibitors to learn
which companies practice open innovation, which of those fit your invention,
and who in those companies can decide to give you a contract.<span style="mso-spacerun: yes;"> </span>Ask exhibitors displaying products similar to
yours about their manufacturing process.</span></p>
<p class="MsoNormal"><span style="font-family: arial;">• Have fun.</span></p>
<p class="MsoNormal" style="margin-left: 0.25in;"><span style="font-family: arial;">Enjoy the displays and the
people.<span style="mso-spacerun: yes;"> </span>If the show is in a big city or
resort, consider spending an extra day there for recreation.</span></p>
<p class="MsoNormal" style="margin-left: 0.25in;"><span style="font-family: arial;">Cutting costs can make your trip
more enjoyable.<span style="mso-spacerun: yes;"> </span>Stay at an inexpensive
hotel and drive to the show location the night before to look for nearby
inexpensive parking.<span style="mso-spacerun: yes;"> </span>Get free food at
the show in exchange for watching a presentation.<span style="mso-spacerun: yes;"> </span>Wear an old coat and hide it in some out of
the way place instead of spending time and money at the coat check.</span></p>
<p class="MsoNormal"><a href="https://www.youtube.com/watch?v=_mwAqJusIrY" style="font-family: arial;">Tips</a></p>
<p class="MsoNormal" style="margin-left: 0.25in;"><span style="font-family: arial;">• Put some thought into which
trade shows will benefit you.</span></p>
<p class="MsoNormal" style="margin-left: 0.5in;"><span style="font-family: arial;">For example, if you want to know
how much it will cost to manufacture your product, consider attending the <a href="https://www.d2p.com/?app=amcon&source=4gpbthrsMt0AHxvI1rNuhofRFAHSfsHJCM3c2KTDAn8oMtNxG0">Design-2-Part</a>
show.<span style="mso-spacerun: yes;"> </span>If 3-D printing interests you,
consider the <a href="https://www.rapid3devent.com/">Rapid + TCT</a> show. <span style="mso-spacerun: yes;"> </span>An international directory of trade shows is
available <a href="https://thetradeshowcalendar.com/home.php">here</a>.</span></p>
<p class="MsoNormal" style="margin-left: 0.25in;"><span style="font-family: arial;">• If you are new to an industry,
go to learn, not to exhibit.</span></p>
<p class="MsoNormal" style="margin-left: 0.5in; text-indent: -0.25in;"><span style="font-family: arial;">• You might want
to <a href="https://www.youtube.com/watch?v=RgFYLbqOPcM">avoid</a> a trade show
dedicated to inventors or to licensing.</span></p><p class="MsoNormal" style="margin-left: 0.5in; text-indent: -0.25in;"><span style="font-family: arial;"> Often
the companies there are trying to sell services to inventors.</span></p>
<p class="MsoNormal" style="margin-left: 0.25in;"><span style="font-family: arial;">• If you are not an exhibitor,
don’t try to sell your product at a trade show.</span></p>
<p class="MsoNormal" style="margin-left: 0.5in;"><span style="font-family: arial;">It’s fine to ask informational
questions so you can follow up with an appropriate person after the show.<span style="mso-spacerun: yes;"> </span>But exhibitors pay a lot of money to sell
their products at the show and tend to take a dim view of free riders.</span></p>
<p class="MsoNormal" style="margin-left: 0.5in;"><span style="font-family: arial;">If you haven’t made an appointment
at a booth, wait for someone to approach you and demonstrate the products.<span style="mso-spacerun: yes;"> </span>When he asks what you do, say you are a
product developer and ask if his company accepts outside submissions.<span style="mso-spacerun: yes;"> </span>If yes, get his business card, but don’t try
to sell.<span style="mso-spacerun: yes;"> </span>Follow up after the show.<span style="mso-spacerun: yes;"> </span>The trade show directory has everyone’s
telephone number.</span></p>
<p class="MsoNormal" style="margin-left: 0.25in;"><span style="font-family: arial;">• Dress business casual and wear
comfortable shoes.</span></p>
<p class="MsoNormal"><span style="font-family: arial;">Thank you, <b style="mso-bidi-font-weight: normal;">Mr. Brett</b>,
for sharing your insights and enthusiasm with us!</span></p>
<p></p>Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8842075329151487950.post-76631645646524244622023-04-01T03:05:00.002-04:002024-03-18T05:11:53.784-04:00March 2023<p class="MsoNormal"><span style="font-family: arial;">Patent attorney <a href="https://www.uspatent.com/professionals/michael-m-morris/"><b>Michael Morris</b></a>
treated us to an overview of four ways the law helps inventors to profit from
their creations.</span></p>
<p class="MsoNormal"><b style="font-family: arial;">First, a <a href="https://www.uspto.gov/patents">patent</a></b><span style="font-family: arial;">, which is an
agreement.<span style="mso-spacerun: yes;"> </span>The inventor receives a
temporary monopoly that lets him prevent others from profiting from his
invention.<span style="mso-spacerun: yes;"> </span>This negative right helps the
inventor protect his share of the market and defends him from from claims of
violating the patent rights of other inventors.<span style="mso-spacerun: yes;">
</span>In exchange, the inventor gives his inventive idea to the world when his
temporary monopoly ends.</span></p>
<p class="MsoNormal"><span style="font-family: arial;">A patent is granted to an inventor by a national (eg, <a href="https://www.uspto.gov/">United States</a>) or regional (eg, <a href="https://www.epo.org/">European</a>) patent office.<span style="mso-spacerun: yes;"> </span>The U.S. grants three kinds of patents:
utility (for a useful structure or a method of making or of using a useful
structure); plant (for a botanical plant that the inventor invented or
discovered and asexually reproduced, except a tuber or plant found in an
uncultivated state); and design (for the ornamentation of something
manufactured; protection is strongest against exact copies of an invention).</span></p>
<p class="MsoNormal"><span style="font-family: arial;">Here is a typical sequence of events leading to a utility patent.</span></p>
<ol start="1" style="margin-top: 0in;" type="1"><li class="MsoNormal" style="mso-list: l0 level1 lfo1; tab-stops: list .5in;"><span style="font-family: arial;">An
inventor thinks of an invention.</span></li><li class="MsoNormal" style="mso-list: l0 level1 lfo1; tab-stops: list .5in;"><span style="font-family: arial;">He <a href="https://www.uspto.gov/patents/search">searches</a> publications to
see if someone else already thought of that invention.<span style="mso-spacerun: yes;"> </span>This <a href="https://www.youtube.com/watch?v=np8RKbVMSLg">video </a>explains how to search for a design.</span></li><li class="MsoNormal" style="mso-list: l0 level1 lfo1; tab-stops: list .5in;"><span style="font-family: arial;">The
inventor applies for a patent from the U.S. patent office.</span></li></ol>
<p class="MsoNormal" style="margin-left: .75in;"><span style="font-family: arial;">The application can be
nonprovisional, which can lead to a patent.<span style="mso-spacerun: yes;">
</span>Or the application can be provisional, which acts as a 1-year
placeholder for a subsequent nonprovisional application.<span style="mso-spacerun: yes;"> </span>This placeholder has value because:</span></p>
<p class="MsoNormal" style="margin-left: 1.25in; text-indent: -.25in;"><span style="font-family: arial;">• the U.S. patent
system grants a patent to the first inventor to file an application for a
particular invention;</span></p>
<p class="MsoNormal" style="margin-left: 1.25in; text-indent: -.25in;"><span style="font-family: arial;">• the inventor
can use this year before filing a more expensive nonprovisional application to
see if his invention will be profitable; and</span></p>
<p class="MsoNormal" style="margin-left: 1.25in; text-indent: -.25in;"><span style="font-family: arial;">• the inventor
can continue to improve his invention during this year, file a series of
provisional applications describing each improvement, then combine all of those
provisional applications in one nonprovisional application.</span></p>
<p class="MsoNormal" style="margin-left: .75in; text-indent: -.25in;"><b style="font-family: arial;">Remember</b><span style="font-family: arial;">: once an inventor reveals his
invention to the public, he has only 1 year to apply for a U.S.
patent.<span style="mso-spacerun: yes;"> </span>If he wants a patent from almost
any other country, he must apply for a patent before
revealing his invention to the public.</span></p>
<ol start="4" style="margin-top: 0in;" type="1"><li class="MsoNormal" style="mso-list: l0 level1 lfo1; tab-stops: list .5in;"><span style="font-family: arial;">He
starts to sell embodiments of his invention or to sell or rent the
invention itself.</span></li><li class="MsoNormal" style="mso-list: l0 level1 lfo1; tab-stops: list .5in;"><span style="font-family: arial;">The
inventor is granted a patent and he starts to sell embodiments of his
invention labeled with the patent number.</span></li><li class="MsoNormal" style="mso-list: l0 level1 lfo1; tab-stops: list .5in;"><span style="font-family: arial;">The
patent ends and the inventor continues to sell embodiments of his
invention that are not labeled with the patent number.</span></li></ol>
<p class="MsoNormal" style="text-align: left;"><span style="font-family: arial;">Patents can conflict.<span style="mso-spacerun: yes;">
</span>For example, if one inventor owns a patent to a pencil and a second
inventor owns a patent to a pencil having an eraser, neither inventor can make
a pencil having an eraser.<span style="mso-spacerun: yes;"> </span>To solve the
problem, each inventor <a href="https://www.merriam-webster.com/legal/cross-license">cross-licenses</a>
his invention to the other.</span></p>
<p class="MsoNormal"><span style="font-family: arial;"></span></p>
<p class="MsoNormal" style="margin-left: .25in; text-indent: -.25in;"><b style="font-family: arial;">Second, a <a href="https://www.uspto.gov/trademarks">trademark</a></b><span style="font-family: arial;">,<b style="mso-bidi-font-weight: normal;"> </b>which identifies the company that manufactures a particular
product.<span style="mso-spacerun: yes;"> </span>A trademark can last forever
and can be a word, phrase, symbol, design, sound, smell, or color.<span style="mso-spacerun: yes;"> </span>The legally strongest trademarks do not
describe the products they represent. </span></p>
<p class="MsoNormal" style="margin-left: .25in; text-indent: -.25in;"><span style="font-family: arial;">Consumers benefit
from recognizing quickly what kind of product they are buying and how
reproducibly good it is.<span style="mso-spacerun: yes;"> </span>Trademark
holders benefit from customer loyalty.</span></p>
<p class="MsoNormal" style="margin-left: .25in; text-indent: -.25in;"><span style="font-family: arial;">A trademark
can, but need not, be registered with the U.S. trademark office.<span style="mso-spacerun: yes;"> </span>If registered, annotate the trademark with ®
in publications; if not registered, annotate it with ™.<span style="mso-spacerun: yes;"> </span>Either way, use a trademark as an adjective
(eg, Kleenex tissue), not as a noun (eg, Kleenex, instead of tissue).<span style="mso-spacerun: yes;"> </span>Using it as a noun can lead to loss of the
trademark.</span></p>
<p class="MsoNormal" style="margin-left: .25in; text-indent: -.25in;"><b style="font-family: arial;">Third, a <a href="https://www.copyright.gov/what-is-copyright/">copyright</a></b><span style="font-family: arial;">, which
protects a specific expression of an idea (not the idea itself).<span style="mso-spacerun: yes;"> </span>A copyright lasts until 70 years after the
last author dies.<span style="mso-spacerun: yes;"> </span>Copyrights exist the
moment a specific expression exists; no registration with the <a href="https://www.copyright.gov/">U.S. copyright office</a> is required.<span style="mso-spacerun: yes;"> </span>But suing for infringement of a copyright requires
registration with that office.</span></p>
<p class="MsoNormal" style="margin-left: .25in; text-indent: -.25in;"><b style="font-family: arial;">Fourth, a <a href="https://www.uspto.gov/ip-policy/trade-secret-policy">trade secret</a></b><span style="font-family: arial;">,
which protects confidential information (eg, the formula for Coca Cola).<span style="mso-spacerun: yes;"> </span>A trade secret can last forever and is often
protected with a nondisclosure agreement.</span></p>
<p class="MsoNormal" style="margin-left: .25in; text-indent: -.25in;"><span style="font-family: arial;">These different
kinds of protection can be layered.<span style="mso-spacerun: yes;"> </span>For
example, one invention can be protected by a utility patent, a design patent,
and a trademark.<span style="mso-spacerun: yes;"> </span>Or a trademarked
product can contain a trade secret.</span></p>
<p class="MsoNormal"><span style="font-family: arial;">Thank you, <span style="mso-bidi-font-weight: normal;">Mr. Morris</span>,
for a fun and informative presentation!</span></p>
<p></p>Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8842075329151487950.post-51608855898631362522022-05-20T17:13:00.009-04:002024-03-18T05:11:54.175-04:00May 2022<p class="MsoNormal"><span style="color: #2b00fe;"><i style="mso-bidi-font-style: normal;"> The best way to make
your dreams come true is to wake up.</i></span> —Paul Val<span style="mso-bidi-font-family: Arial;">é</span>ry</p>
<p class="MsoNormal">We now have our own <a href="https://www.youtube.com/watch?v=WjxwXRX9oks&ab_channel=TribalTradeCo">dream
catcher</a>.<span style="mso-spacerun: yes;"> </span>It’s a book, <i style="mso-bidi-font-style: normal;"><a href="https://www.amazon.com/Inventor-Confidential-Honest-Profitable-Inventing/dp/1400219574">Inventor
Confidential: The Honest Guide to Profitable Inventing</a></i>, that tells
inventors how to keep the nightmare of empty promises from ruining their sweet
dreams of financial success.<span style="mso-spacerun: yes;"> </span>The author,
<a href="https://tuttleinnovation.com/">Warren Tuttle</a> (independent contractor
for external open innovation, Lifetime Brands; past president, United Inventors
Association of America), kindly summarized his <a href="https://www.youtube.com/watch?v=dfuVX-ZiIlk&ab_channel=TheLaunchNetwork">book</a>
for us.<span style="mso-spacerun: yes;"> </span>The first half of the book is
about product development, the second half is about what interferes with
financial success.</p>
<p class="MsoNormal">There are two ways to bring an invention to the marketplace:
indirectly (by licensing (ie, renting) or by selling the invention to others who
bring it to the marketplace) or directly (by arranging for all of the steps
yourself: <span style="font-size: 11pt; mso-bidi-font-size: 12.0pt;">production,
tooling, landbridging, shipping, warehousing, fulfillment, sales teams, orders,
collecting money, reinvesting money, etc.</span>).<span style="mso-spacerun: yes;"> </span>Either way, the odds of success are low for
an independent inventor because the vast majority of inventions are not salable.</p>
<p class="MsoNormal">Licensing to a large company is obviously the easier way.<span style="mso-spacerun: yes;"> </span>It provides less potential profit for an
inventor (typically 2-7% of wholesale profit) but transfers the risk of failure
to a company that acts as an angel investor by providing <span style="font-size: 11pt; mso-bidi-font-size: 12.0pt;">brands, resources, and capital.<span style="mso-spacerun: yes;"> </span>The odds of financial success are still low
but at least the inventor does not fail to get the invention to the
marketplace.</span></p>
<p class="MsoNormal">Getting the best licensing deal requires preparation.<span style="mso-spacerun: yes;"> </span>Ask experts in the industry to vet the
inventive idea so you can learn what the challenges are to making it profitable
and to learn if it has legs.<span style="mso-spacerun: yes;"> </span>(To be
profitable, your invention must uniquely solve a problem that is big enough to interest
a significant number of customers.)<span style="mso-spacerun: yes;"> </span>The
bases of a licensing deal are a physical prototype and a patent.<span style="mso-spacerun: yes;"> </span>So develop a prototype of the invention to
prove that it can be built and that it works and to help identify its
patentable traits.<span style="mso-spacerun: yes;"> </span>And patent the
invention to acquire ownership of intellectual property that can be licensed.<span style="mso-spacerun: yes;"> </span>Then prepare marketing materials: a sell sheet
describing benefits of the invention and a video showing the invention
providing those benefits.<span style="mso-spacerun: yes;"> </span>Practice
communicating politely and effectively with buyers.</p>
<p class="MsoNormal">There are two main ways to ask a large company for a
licensing deal: indirectly (through an an inventor submission/marketing/coaching
company) or directly (through a company’s open innovation program).<span style="mso-spacerun: yes;"> </span>In general, an inventor is best served
by the direct way.<span style="mso-spacerun: yes;"> </span>Why?</p>
<p class="MsoNormal">If you have a dream, there will always be someone who wants
to sell something off of that dream to you.<span style="mso-spacerun: yes;">
</span>During gold rushes of the old West, people selling shovels and pick axes
to miners made more money than did the miners.<span style="mso-spacerun: yes;">
</span>Today an inventor submission/marketing/coaching company selling to
inventors makes more money than do the inventors.<span style="mso-spacerun: yes;"> </span>Such a company takes submissions from
inventors, prepares the submissions for licensing by adding prototypes and
patents, and represents the inventor to companies that practice open innovation
(the art/science of looking outside of the company for new products).<span style="mso-spacerun: yes;"> </span>Or the company offers an inventor advice on
how to do the same.<span style="mso-spacerun: yes;"> </span>The marketing
message is that this process is easy, simple, and results in a gold mine for
the inventor.<span style="mso-spacerun: yes;"> </span>These companies do not buy
from inventors, these companies sell to them.<span style="mso-spacerun: yes;">
</span>The primary goal of this business model is financial success of the
company, not of the inventor, because no one can reproducibly pick a winning
product.<span style="mso-spacerun: yes;"> </span>This business model is driven
by cash flow, taking a lot of money up front from a naive inventor in exchange
for information and products that often do not help the inventor and for advice
that is often nothing but thin air.<span style="mso-spacerun: yes;">
</span>Usually only the company makes money because the odds of financial success
for the invention are low.</p>
<p class="MsoNormal"></p>
<p class="MsoNormal">In contrast, an inventor can skip the middleman and directly
ask the open innovation program of a large company for a licensing deal.<span style="mso-spacerun: yes;"> </span>Such a program buys from inventors (ie,
licenses inventions from them) and does not sell to them.<span style="mso-spacerun: yes;"> </span>The primary goal is joint financial success
of the company and the inventor.<span style="mso-spacerun: yes;"> </span>This
business model is driven by profit for the company and for the inventor.<span style="mso-spacerun: yes;"> </span>The odds of success are still low but a
prepared inventor has nothing to lose and everything to gain.<span style="mso-spacerun: yes;"> </span>If no company wants to license your
invention, recognize this as an opportunity to fail fast and move on to your
next and better invention.</p>
<p class="MsoNormal"></p>
<p class="MsoNormal">Which method do you prefer?<span style="mso-spacerun: yes;">
</span>Feel free to hire an inventor submission/marketing/coaching
company.<span style="mso-spacerun: yes;"> </span>But do so while you are awake
with your eyes wide open.<span style="mso-spacerun: yes;"> </span>Ask the people
who will work with you what their relevant business experience is.<span style="mso-spacerun: yes;"> </span>Ask for data: what fraction of their clients
get a licensing deal; what fraction of those make enough profit to pay for this
company’s services; what fraction of those make a net profit from their inventions.</p>
<p class="MsoNormal"></p>
<p class="MsoNormal">If you want free help with open innovation or a free
evaluation of your invention, consider submitting a description of your
invention to <a href="https://tuttleinnovation.com/">Tuttle Innovation</a>.<span style="mso-spacerun: yes;"> </span>This company is paid by companies that practice open innovation, not by inventors. The site has links to educational videos
and podcasts.<span style="mso-spacerun: yes;"> </span>You can also contact
companies that have open innovation programs directly.<span style="mso-spacerun: yes;"> </span>For example, Procter & Gamble, which
sources 50% of its products through open innovation, has an open innovation
page <a href="https://www.pgconnectdevelop.com/">here</a>. <a href="https://marketblast.com/" target="_blank">MarketBlast</a> offers a free platform for directly submitting inventions to companies looking for specific products.<br /></p>
<p class="MsoNormal"></p>
<p class="MsoNormal">Thank you, Mr. Tuttle, for writing your book, for advocating
for inventors, and for sharing your valuable time and talent with us!</p>
Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8842075329151487950.post-3484093493686595742021-10-16T03:53:00.007-04:002024-03-18T05:11:54.556-04:00October 2021<p class="MsoNormal"><span style="font-family: arial;">Want to build a prototype of your invention?<span style="mso-spacerun: yes;"> </span>Has <b style="mso-bidi-font-weight: normal;"><a href="https://machynemakerspace.com/">Machyne</a></b> got the place for you!</span></p><span style="font-family: arial;">
</span><p class="MsoNormal"><span style="font-family: arial;"><b style="mso-bidi-font-weight: normal;"><a href="https://www.youtube.com/watch?v=m8jQW5Ahjbg">Alex Bandar, PhD</a></b> (executive
director, Machyne) believes that everyone has the potential to be an educated
and empowered innovator.<span style="mso-spacerun: yes;"> </span>If you can
imagine something, you can learn how to, and actually, sketch it digitally in 2
or 3 dimensions for free.<span style="mso-spacerun: yes;"> </span>YouTube shows you how. Give that
sketch to computer-run machines and they will create a prototype of the thing
for you. If you need money for materials or for access to tools, run a <a href="https://www.crowdfunding.com/is-crowdfunding-right-for-you/">crowdfunding</a>
campaign.<span style="mso-spacerun: yes;"> </span>Show your prototype to a
customer, investor, company, or retailer and ask if they will use your
idea.<span style="mso-spacerun: yes;"> </span>If they say yes, a global network of
manufacturers, distributors, and retailers can spread your idea to markets
worldwide.</span></p><span style="font-family: arial;">
</span><p class="MsoNormal"><span style="font-family: arial;">Alex embodied his belief by creating a clubhouse for makers,
first in Columbus, OH
(<a href="https://www.ideafoundry.com/">Idea Foundry</a>) and now in Indianapolis.<span style="mso-spacerun: yes;"> </span>Machyne makes it easy to move an idea from
your head into your hand.<span style="mso-spacerun: yes;"> </span>Tools, classes,
memberships, and a supportive community of people (artists,
engineers, entrepreneurs, and innovators) who like to find and solve problems
are available here.<span style="mso-spacerun: yes;"> </span>Memberships start at
$50/month/person.</span></p><span style="font-family: arial;">
</span><p class="MsoNormal"><span style="font-family: arial;">Machyne offers <a href="https://machynemakerspace.com/events/">classes</a> on how to use its
tools.<span style="mso-spacerun: yes;"> </span>For example, there will be a
class on how to use the Formech 508FS vacuum former on October 27 ($20) and a
class on how to use 3D printing machines on November 3 ($40).</span></p><span style="font-family: arial;">
</span><span style="font-family: arial;">A wide variety of tools are available for use after you
complete and pass a training session for each tool you want to use.<span style="mso-spacerun: yes;"> </span>The workshop area has tools for metal
fabrication, welding, CNC routing, CNC plasma cutting, CNC milling/turning, CNC
waterjet cutting, vacuum forming, laser cutting, and woodworking.<span style="mso-spacerun: yes;"> </span>The design area has tools for 3D printing,
electronics, programming, and vinyl cutting and has design software.<span style="mso-spacerun: yes;"> </span>The media area has tools for virtual reality,
augmented reality, photography, videography, and podcasting.<span style="mso-spacerun: yes;"> </span>An hourly fee for tool use ranges from $5 to
$40 per hour.<span style="mso-spacerun: yes;"> </span>Workbenches where you can store
your own tools are also available.
</span><p class="MsoNormal"><span style="font-family: arial;">Thank you, Mr. Bandar, for an exhilarating tour of Machyne!</span></p>
Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8842075329151487950.post-34809276523010686402021-04-17T07:44:00.003-04:002024-03-18T05:11:54.934-04:00April 2021<p class="MsoNormal"><span style="font-family: arial;">Business is about relationships.<span style="mso-spacerun: yes;"> </span><b style="mso-bidi-font-weight: normal;"><a href="https://www.linkedin.com/in/benjamin-judah-harrison">Benjamin Harrison</a></b>
(product developer; creator, <a href="https://www.inventright.com/other-services/smart-pitch-2">SmartPitch</a>;
author, <i style="mso-bidi-font-style: normal;"><a href="https://www.amazon.com/Licensing-Ideas-Using-LinkedIn-companies/dp/B08JNX3MDL/ref=sr_1_2?Adv-Srch-Books-Submit.x=20&Adv-Srch-Books-Submit.y=9&dchild=1&qid=1617865635&refinements=p_27%3Abenjamin+harrison&s=books&sr=1-2&unfiltered=1">Licensing
Ideas Using LinkedIn</a></i>) told us how to use <a href="https://www.linkedin.com/">LinkedIn</a> to approach decision makers and
persuade them to join our teams.</span></p><span style="font-family: arial;">
</span><p class="MsoNormal"><span style="font-family: arial;">LinkedIn is playing a bigger role for inventors.<span style="mso-spacerun: yes;"> </span>Many trade shows have been canceled or have
become virtual.<span style="mso-spacerun: yes;"> </span>Many people won’t answer
a phone call from an unknown caller.<span style="mso-spacerun: yes;">
</span>Thousands of companies are looking for inventions but must be approached
professionally.</span></p><span style="font-family: arial;">
</span><p class="MsoNormal"><span style="font-family: arial;">The goal of using LinkedIn is to send direct and courteous messages
seeking common ground to specific people.<span style="mso-spacerun: yes;">
</span>Then, if common ground exists, move the conversation off of LinkedIn. <span style="mso-spacerun: yes;"> </span>There is no need to create content about your
invention or to be an <a href="https://nealschaffer.com/linkedin-influencer/">influencer</a>
in order to get at least a 25% response rate from decision makers.</span></p><span style="font-family: arial;">
</span><p class="MsoNormal"><span style="font-family: arial;"><a href="https://www.youtube.com/watch?v=RJ8hMESV9ks">Build
a community</a> of people with compatible interests because you never know who
might help you.<span style="mso-spacerun: yes;"> </span>Start by creating a
professional profile on exactly one LinkedIn account (a free account will do).<span style="mso-spacerun: yes;"> </span>A mini-narrative portraying you as human and
memorable will interest others.<span style="mso-spacerun: yes;"> </span>That
profile sells you—a product developer—to decision makers.<span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span></span></p><span style="font-family: arial;">
</span><p class="MsoNormal"><span style="font-family: arial;">Identify decision makers you want to meet by searching
LinkedIn or sites such as <a href="https://recruitmentgeek.com/tools/linkedin">Recruitment
Geek</a>. <span style="mso-spacerun: yes;"> </span>They might be other inventors
and product developers or employees of companies you want on your team.<span style="mso-spacerun: yes;"> </span>Employees in marketing might be most helpful,
followed by those in sales, followed by those in product development.<span style="mso-spacerun: yes;"> </span>Pick people who have a lot of first degree LinkedIn
connections because they can help you grow your community.</span></p><span style="font-family: arial;">
</span><p class="MsoNormal"><span style="font-family: arial;">Ask them to join your LinkedIn network.<span style="mso-spacerun: yes;"> </span>Limit yourself to 100 new connections per
week to avoid portraying yourself as a spammer.</span></p><span style="font-family: arial;">
</span><p class="MsoNormal"><span style="font-family: arial;">Then use traditional text or the more personal <a href="https://blog.linkedin.com/2018/july/26/voice-messaging-on-linkedin-giving-you-more-ways-to-have-conversations">audio
message</a> to find common ground.<span style="mso-spacerun: yes;"> </span>For
example, “Hey ___, I’m sure it’s not your department, but do you know who @ <i style="mso-bidi-font-style: normal;">(company name)</i> takes care of open
innovation submissions?”<span style="mso-spacerun: yes;"> </span>Make the
question short, specific, and easy to answer.<span style="mso-spacerun: yes;">
</span>Act like you belong on LinkedIn as a product developer: get permission
to send marketing materials; don’t show off or try to prove something; don’t
ask for a time-consuming favor; don’t be pushy, no hard-sell pitches; don’t
send a request in the “custom note” space unless you already know the recipient.</span></p><span style="font-family: arial;">
</span><p class="MsoNormal"><span style="font-family: arial;">For more of Mr. Harrison’s insights, take a look at his free
online <a href="https://www.youtube.com/c/inventRight/search?query=harrison">videos</a>
or subscribe to his <a href="https://www.inventright.com/other-services/smart-pitch-2">SmartPitch</a>
program, which includes access to a database of over 1,000 open innovation
companies.</span></p><span style="font-family: arial;">
</span><p class="MsoNormal"><span style="font-family: arial;">Thank you, Mr. Harrison, for sharing your practical wisdom
with us!</span></p><span style="font-family: arial;">
</span><p class="MsoNormal"><span style="font-family: arial;"> </span></p><span style="font-family: arial;">
</span>Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8842075329151487950.post-55643700502097618422020-11-16T18:34:00.009-05:002024-03-18T05:11:55.312-04:00November 2020<span style="font-family: arial;">
</span><p class="MsoNormal"><span style="font-family: arial;"><i style="mso-bidi-font-style: normal;">This is a brand new
day, ladies and gentlemen.<span style="mso-spacerun: yes;"> </span>A brand new
day.</i></span></p><span style="font-family: arial;">
</span><p class="MsoNormal" style="margin-left: 0.25in;"><span style="font-family: arial;">—<a href="https://www.youtube.com/embed/nGC4PZE2PQY?start=70&end=82">Sister Act
2: Back in the Habit</a></span></p><span style="font-family: arial;">
</span><p class="MsoNormal"><span style="font-family: arial;"> </span></p><span style="font-family: arial;">
</span><p class="MsoNormal"><span style="font-family: arial;"></span><span style="font-family: arial;">Sell first and sell fast.<span style="mso-spacerun: yes;">
</span>Speed is the key to profiting from a simple, short-lived invention.<span style="mso-spacerun: yes;"> </span>To increase our chances of quickly <a href="https://www.entrepreneur.com/article/308829">licensing</a> our inventions,
<a href="https://www.inventright.com/about/about-stephen"><b>Stephen Key</b></a>
(inventor, author, speaker, and co‑founder of inventRight, LLC) recommends that
we develop and use four selling tools: the <a href="https://en.wikipedia.org/wiki/Point_of_difference">point of difference</a>;
perceived ownership; a <a href="https://www.linkedin.com/">LinkedIn</a> profile;
and a list of companies that love <a href="https://www.openinnovation.eu/open-innovation/">open innovation</a>.</span><span style="font-family: arial;"></span><span style="font-family: arial;">
</span></p><p class="MsoNormal"><span style="font-family: arial;"></span><span style="font-family: arial;">The point of difference tells a potential licensee how your
invention differs from marketed products and from <a href="https://www.patexia.com/patent_basics.html">prior art</a>.<span style="mso-spacerun: yes;"> </span>This gives a potential licensee two things: confidence
that your invention has unique benefits that customers might want to buy; and the
perception that you could own a place in the market for your invention (ie, get
a patent).<span style="mso-spacerun: yes;"> </span>A search for your invention
on Google and in stores will show the difference between your invention and products
like it in the marketplace.<span style="mso-spacerun: yes;"> </span>A search for
prior art will show the difference between your invention and products (made or
imagined) that are publicly known.<span style="mso-spacerun: yes;"> </span><span style="mso-bidi-font-family: Arial;">Librarians in <a href="https://www.uspto.gov/learning-and-resources/support-centers/patent-and-trademark-resource-centers-ptrc/ptrc-locations-21">Indianapolis</a>
and in <a href="https://www.uspto.gov/learning-and-resources/support-centers/patent-and-trademark-resource-centers-ptrc/ptrc-locations-22">West
Lafayette</a> can show you how to find prior art.</span></span><span style="font-family: arial;"></span><span style="font-family: arial;">
</span></p><p class="MsoNormal"><span style="font-family: arial;"></span><span style="font-family: arial;">Don’t waste time on a <a href="https://www.youtube.com/watch?v=CS31715RNQk&list=PLG-tVkiG-bLEdbxHizios2NQMVDLNf1wr&index=1">patent</a>.<span style="mso-spacerun: yes;"> </span>A patent is not useful because the time it
takes to get a patent (typically <a href="https://www.uspto.gov/help/patent-help#type-browse-faqs_1208">25 months</a>)
exceeds the <a href="https://www.investopedia.com/terms/p/product-life-cycle.asp">life cycle</a>
of a simple short-lived invention.<span style="mso-spacerun: yes;"> </span>But
you need to persuade a potential licensee that your invention is marketable,
that you potentially own a place in the market, that you <i style="mso-bidi-font-style: normal;">could</i> get a patent.<span style="mso-spacerun: yes;"> </span>Create
this perceived ownership by writing and filing with the U.S. patent
office a robust <a href="https://www.uspto.gov/learning-and-resources/newsletter/inventors-eye/provisional-patent-application-it-me">provisional application</a> to patent your invention.</span><span style="font-family: arial;"></span><span style="font-family: arial;">
</span></p><p class="MsoNormal"><span style="font-family: arial;">A provisional patent application is an instruction manual on
how to make and use your invention.<span style="mso-spacerun: yes;"> </span>The
application includes the invention’s point of difference, manufacturing
information, and a detailed description and drawings of the basic invention and
of all variations of the invention that you can imagine.<span style="mso-spacerun: yes;"> </span>A good set of detailed drawings is especially
important because it allows translation of plain language (in a provisional
application that you write) into legalese (required in a nonprovisional
application that a patent attorney/agent writes).<span style="mso-spacerun: yes;"> </span>A provisional application can not itself lead
to a patent but it does provide a timestamp for a nonprovisional patent
application that can itself lead to a patent.<span style="mso-spacerun: yes;">
</span>If a patent attorney/agent is writing your provisional application, be
sure to lead the effort and say what aspects of the invention you want
protected.<span style="mso-spacerun: yes;"> </span>No one is as interested in
your invention as you are.</span><span style="font-family: arial;">
</span></p><p class="MsoNormal"><span style="font-family: arial;"></span><span style="font-family: arial;">A provisional application also provides perceived ownership by
letting you mark products you sell as “patent pending” during the 1-year life
time of the application.<span style="mso-spacerun: yes;"> </span>This lets your
competitors know that they could lose an investment in copying your product if
you eventually get a patent for it.</span><span style="font-family: arial;"></span><span style="font-family: arial;">
</span></p><p class="MsoNormal"><span style="font-family: arial;"></span><span style="font-family: arial;">When licensing to companies, sell yourself as well as your
invention.<span style="mso-spacerun: yes;"> </span>Companies need to know that they want to work with you.<span style="mso-spacerun: yes;"> </span><a href="https://www.entrepreneur.com/article/335769">Your LinkedIn profile</a> is
your <a href="https://www.inc.com/stephen-key/how-to-create-a-sell-sheet-that-actually-does-the-selling-for-you.html">sell
sheet</a>.<span style="mso-spacerun: yes;"> </span>Create a complete profile
that shows you as a professional product developer.<span style="mso-spacerun: yes;"> </span>If you are not on LinkedIn, you are not in
the licensing game.</span><span style="font-family: arial;"></span><span style="font-family: arial;">
</span></p><p class="MsoNormal"><span style="font-family: arial;"></span><span style="font-family: arial;">The best way to protect your invention is to license it to a
medium-size <a href="https://www.youtube.com/watch?v=MvycxV2ib_8">company that
loves open innovation</a>.<span style="mso-spacerun: yes;"> </span>There are
thousands of such <a href="https://www.inventright.com/irconnectlandingpage">companies</a>.<span style="mso-spacerun: yes;"> </span>After you have a list of companies, remove
those having several complaints and lawsuits (search Google for each company
name and the word “complaints”), those that don’t have a department that
handles outside submissions, those that want you to sign a nondisclosure
agreement heavily weighted in their favor, those who want you to have a patent,
and those not on social media.<span style="mso-spacerun: yes;"> </span>Then find
which of the remaining companies <a href="https://www.youtube.com/watch?v=yhoiE-mz8Ro">fit</a> your invention.<span style="mso-spacerun: yes;"> </span>Understand each company’s mission, product
line, price point, and target audience.<span style="mso-spacerun: yes;">
</span>For example, <a href="https://peleg-design.com/pages/suggest-a-product">PELEG
DESIGN</a>, which sells products worldwide, candidly says what it wants from
inventors.<span style="mso-spacerun: yes;"> </span>Then use LinkedIn to connect
with a company’s marketing manager and ask if you may submit information about
your invention.<span style="mso-spacerun: yes;"> </span>When working with a
company, act like you belong at the table and convey that you are easy to work
with and are a team player.</span><span style="font-family: arial;"></span><span style="font-family: arial;">
</span></p><p class="MsoNormal"><span style="font-family: arial;"></span><span style="font-family: arial;">Don’t buy what you don’t need.<span style="mso-spacerun: yes;"> </span>You don’t need a prototype to interest a
company in your invention.<span style="mso-spacerun: yes;"> </span>Sell to a
company the way the company sells to its customers.<span style="mso-spacerun: yes;"> </span>If you can’t sell the benefits of your
invention, why worry about anything else? <span style="mso-spacerun: yes;"> </span>If a company is interested in your invention
and it asks for a prototype, then build one.</span><span style="font-family: arial;"></span><span style="font-family: arial;">
</span></p><p class="MsoNormal"><span style="font-family: arial;"></span><span style="font-family: arial;">Have fun but be smart.<span style="mso-spacerun: yes;">
</span>Don’t buy into fear.<span style="mso-spacerun: yes;"> </span>Sign a
company’s nondisclosure agreement and don’t worry about theft.<span style="mso-spacerun: yes;"> </span>The value of an idea is almost always in the
work you do to bring it to market and no one is going to steal your work.</span><span style="font-family: arial;"></span><span style="font-family: arial;">
</span></p><p class="MsoNormal"><span style="font-family: arial;">For more on licensing, see the wealth of information at <a href="https://www.inventright.com/">inventRight</a>: articles, books, coaching,
courses, lists of companies, podcasts, videos, and more.<span style="mso-spacerun: yes;"> </span>Both inventRight and <a href="https://www.ipwatchdog.com/patent/invent-patent-system/">IP Watchdog</a>
offer help with preparing a provisional patent application.</span><span style="font-family: arial;">
</span></p><p class="MsoNormal"><span style="font-family: arial;"></span><span style="font-family: arial;">Thank you, <b style="mso-bidi-font-weight: normal;">Mr.<span style="mso-spacerun: yes;"> </span>Key</b>, for opening our eyes to this new way
of licensing our inventions!</span><span style="font-family: arial;"></span><span style="font-family: arial;">
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<![endif]-->Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8842075329151487950.post-40211196431306312212020-10-16T05:32:00.004-04:002024-03-18T05:11:55.692-04:00October 2020<span style="font-family: arial;">Would you like to have the government (federal, state, or
local) as your customer?<span style="mso-spacerun: yes;"> </span>The government
awards hundreds of billions of dollars in contracts to small businesses every
year.<span style="mso-spacerun: yes;"> </span>But not every small business is
suited for that role.<span style="mso-spacerun: yes;"> </span><a href="https://www.kyinventors.org/">Inventors Network KY</a> treated us to an
online presentation by <span style="mso-bidi-font-weight: bold;">Darrall Henderson</span> (director, Kentucky Procurement
Technical Assistance
Center) that described <a href="http://kyptac.com/educational-materials/">what it takes</a> to become a
government (federal or Kentucky)
vendor.
</span><p class="MsoNormal"><span style="font-family: arial;">Becoming a government contractor involves a complex process
that has its own <a href="https://www.usa.gov/understand-contracting-terms">vocabulary</a>
and requires a significant investment of time and money.<span style="mso-spacerun: yes;"> </span>Educational resources on this process are
available from several organizations: <a href="https://indianaptac.com/">Indiana
Procurement Technical Assistance Center</a>, <a href="https://www.in.gov/idoa/2864.htm">Indiana Department of Administration</a>,
<a href="https://iedc.in.gov/programs">Indiana Economic Development Corporation</a>,
<a href="https://isbdc.org/">Indiana Small Business Development Center</a>, <a href="https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwjN8JqV47jsAhWLhK0KHUliDHIQFjADegQIBRAC&url=https%3A%2F%2Fiedc.in.gov%2Fresources%2FDownload%2F2f04249c-34ce-6748-857a-ff0000c19905%2F&usg=AOvVaw2_IDI50HkxSpOWVGYDoOmv">local
governments in Indiana</a>, the <a href="https://www.usa.gov/government-contracting-for-beginners">federal
government</a>, <a href="https://vsc.gsa.gov/RA/toolBox.cfm">U.S. General
Services Administration</a>, <a href="https://www.gmpgov.com/what-is-government-procurement/">Government
Marketing & Procurement, LLC,</a> <a href="https://www.sba.gov/business-guide/grow-your-business/become-federal-contractor">Small
Business Administration</a>, and <a href="https://govology.com/">govology</a>.</span></p><span style="font-family: arial;">
</span><p class="MsoNormal"><span style="font-family: arial;">Thank you for introducing us to the wide world of government
procurement, Mr. Henderson.</span></p>
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Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8842075329151487950.post-38750838385968346922020-02-09T06:11:00.003-05:002024-03-18T05:11:56.070-04:00February 2020<!--[if gte mso 9]><xml>
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<div class="MsoNormal">
<span face=""arial" , "helvetica" , sans-serif"><span style="mso-bidi-font-family: Arial; mso-bidi-font-size: 11.5pt;">Would you marry someone you never met or dated?<span style="mso-spacerun: yes;"> </span>No?<span style="mso-spacerun: yes;">
</span>Then why would you start a business without knowing who your customers
are and what they really want?</span></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span face=""arial" , "helvetica" , sans-serif"><span style="mso-bidi-font-family: Arial; mso-bidi-font-size: 11.5pt;">No entrepreneur wants to waste time and money on a nonviable
company.<span style="mso-spacerun: yes;"> </span>If you are thinking about
starting a business, the most important question is whether you <i style="mso-bidi-font-style: normal;">should</i> start a business.</span></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span face=""arial" , "helvetica" , sans-serif"><b style="mso-bidi-font-weight: normal;"><span style="mso-bidi-font-family: Arial; mso-bidi-font-size: 11.5pt;"><a href="https://www.linkedin.com/in/billpetrovic">Bill Petrovic</a> </span></b><span style="mso-bidi-font-family: Arial; mso-bidi-font-size: 11.5pt;">(</span><span style="mso-bidi-font-size: 11.5pt;">workshop chair and mentor, </span><b style="mso-bidi-font-weight: normal;"><span style="mso-bidi-font-family: Arial; mso-bidi-font-size: 11.5pt;"><a href="https://indianapolis.score.org/">SCORE
Indianapolis</a></span></b><span style="mso-bidi-font-size: 11.5pt;">; </span><span style="mso-bidi-font-family: Arial; mso-bidi-font-size: 11.5pt;">past vice
president and treasurer, Roche Diagnostics) recommends using the <b style="mso-bidi-font-weight: normal;"><a href="https://en.wikipedia.org/wiki/Lean_startup#Value_Proposition_Canvas">lean
startup</a> </b>method to answer that question. <span style="mso-spacerun: yes;"> </span>It is an efficient method of approximation for
developing a successful business model.<span style="mso-spacerun: yes;">
</span>Make your best guess of what a successful business looks like.<span style="mso-spacerun: yes;"> </span>Ask people whom you think are your potential
customers what they think about your guess.<span style="mso-spacerun: yes;">
</span>Adapt your guess to the feedback you get from those people.<span style="mso-spacerun: yes;"> </span>Then ask again.<span style="mso-spacerun: yes;"> </span>Repeat.<span style="mso-spacerun: yes;">
</span>If you <i style="mso-bidi-font-style: normal;">should</i> start a
business, this process will likely converge on a business model that profitably
identifies your customers, what they really want, and your ability to provide
what they really want.</span></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span face=""arial" , "helvetica" , sans-serif"><span style="mso-bidi-font-family: Arial; mso-bidi-font-size: 11.5pt;">Start the process by developing something simple to sell (a product or
service).<span style="mso-spacerun: yes;"> </span>This <a href="http://www.startuplessonslearned.com/2009/08/minimum-viable-product-guide.html">minimally
viable product</a> should include the fewest features that you think <a href="https://www.investopedia.com/terms/e/early-adopter.asp">early adopters</a>
will buy at a profitable price to solve the core of some problem they have.</span></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span face=""arial" , "helvetica" , sans-serif"><span style="mso-bidi-font-family: Arial; mso-bidi-font-size: 11.5pt;">Then get out and do a reality check.<span style="mso-spacerun: yes;">
</span>Talk face to face with at least 100 potential customers and see how they
react to your product.<span style="mso-spacerun: yes;"> Include people who will pay for the product or who will influence the decision to buy. </span>If you are
selling something for dogs, go to a dog park, not to a library.<span style="mso-spacerun: yes;"> </span>Talk with people yourself, don’t delegate
this important interaction to someone else.<span style="mso-spacerun: yes;">
</span>Ask open ended questions.</span></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal" style="margin-left: 0.25in;">
<span face=""arial" , "helvetica" , sans-serif"><span style="mso-bidi-font-family: Arial; mso-bidi-font-size: 11.5pt;">Does solving this core problem matter to
them?<span style="mso-spacerun: yes;"> </span>If so, would they be willing to
spend money to solve the problem; how much?<span style="mso-spacerun: yes;">
</span>Will they buy your product now, as is?<span style="mso-spacerun: yes;">
</span>What do they like and dislike about your product?<span style="mso-spacerun: yes;"> </span>What additional features would make your
product more attractive to them?</span></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span face=""arial" , "helvetica" , sans-serif"><span style="mso-bidi-font-family: Arial; mso-bidi-font-size: 11.5pt;">If this core problem doesn’t matter to them, they are not your
customers.<span style="mso-spacerun: yes;"> </span>But don’t waste this
conversation; ask what problems do matter to them.<span style="mso-spacerun: yes;"> </span>You might be able to develop something else
for them.</span></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span face=""arial" , "helvetica" , sans-serif"><span style="mso-bidi-font-family: Arial; mso-bidi-font-size: 11.5pt;">After sequentially adapting your product to several rounds of feedback,
you may have a product that potential customers really like.<span style="mso-spacerun: yes;"> </span>When you have all of this
information, develop a <a href="https://www.youtube.com/watch?v=D254suPMpwY">value
proposition</a>, a description of all features and benefits of your product
that will induce customers to buy it.</span></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span face=""arial" , "helvetica" , sans-serif"><span style="mso-bidi-font-family: Arial; mso-bidi-font-size: 11.5pt;">Then worry about production costs and business partners.<span style="mso-spacerun: yes;"> </span>Can you manufacture and distribute your
product for less than the selling price?<span style="mso-spacerun: yes;">
</span>Can you sell enough to make the profit you want?<span style="mso-spacerun: yes;"> </span>If you like the answers to those questions,
you are on your way to starting a successful business.</span></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span face=""arial" , "helvetica" , sans-serif"><span style="mso-bidi-font-family: Arial; mso-bidi-font-size: 11.5pt;">Several <a href="https://steveblank.com/tools-and-blogs-for-entrepreneurs/">tools</a> are
available to help with this process. For example, <span style="mso-spacerun: yes;"> </span>Mr. Petrovic has kindly provided the <a href="https://s3.amazonaws.com/mentoring.redesign/s3fs-public/Serial%20Entrepreneur.pdf">slides</a>
of his presentation.<span style="mso-spacerun: yes;"> </span>Udacity offers a
free online <a href="https://www.udacity.com/course/ep245">course</a> on the
lean startup method.<span style="mso-spacerun: yes;"> </span>A lean startup <a href="https://leanstack.com/leancanvas">template</a> is available.<span style="mso-spacerun: yes;"> </span>By appointment only, a librarian on the 4<sup>th</sup>
floor of the <a href="https://www.indypl.org/locations/central-library">Indianapolis
Central Library</a> will show you company business plans related to your
interests.</span></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span face=""arial" , "helvetica" , sans-serif"><span style="mso-bidi-font-family: Arial; mso-bidi-font-size: 11.5pt;">Thank you, Mr. Petrovic, for helping the business community create jobs
and for sharing your extensive expertise with us!</span></span></div>
<div class="MsoNormal">
<br /></div>
Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8842075329151487950.post-59117917113326061832020-01-10T08:32:00.004-05:002024-03-18T05:11:56.450-04:00January 2020<!--[if gte mso 9]><xml>
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<br />
<div class="MsoNormal">
<span style="font-size: small;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Ron Jackson</b>
(long-time member of the Indiana Inventors Association; founder, <a href="https://jacksonsystems.com/">Jackson Systems</a>; holder of 15 patents) helped
us start the year off right by describing his experience as a successful
innovator.</span></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-size: small;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Marketing is 80% of profitable innovation. Unmarketed but very useful inventions can
fail in the marketplace while heavily marketed but useless inventions can be
quite profitable. Helpful elements of
marketing can include: </span></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal" style="margin-left: .5in; text-indent: -.25in;">
<span style="font-size: small;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Creating a good
looking prototype of your invention. Whether
you show potential buyers a working prototype or a sell sheet/brochure that
includes a high quality picture of a nonworking prototype, an image is worth a
thousand words. An image makes people
feel that you and your invention are real and credible.</span></span></div>
<div class="MsoNormal" style="margin-left: .5in; text-indent: -.25in;">
<br /></div>
<div class="MsoNormal" style="margin-left: .5in; text-indent: -.25in;">
<span style="font-size: small;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Creating good
quality videos of your invention and related topics for display on
YouTube. Videos can help to establish
your credibility in your technical field and to show the benefits your
invention provides. The Jackson Systems
YouTube <a href="https://www.youtube.com/user/jacksonsystems">channel</a> is a
good example.</span></span></div>
<div class="MsoNormal" style="margin-left: .5in; text-indent: -.25in;">
<br /></div>
<div class="MsoNormal" style="margin-left: .5in; text-indent: -.25in;">
<span style="font-size: small;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Finding a good
fit for your invention in the marketplace.
A company may want to partner with you if an embodiment of your invention
contains parts made by that company or if the embodiment supplements or
enhances one of the company’s products.</span></span></div>
<div class="MsoNormal" style="margin-left: .5in; text-indent: -.25in;">
<br /></div>
<div class="MsoNormal" style="margin-left: .5in; text-indent: -.25in;">
<span style="font-size: small;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Growing your business
network. If you want to sell (assign) or
rent (license) your idea or patent, try visiting trade shows relevant to your
invention and find booths of medium size companies that sell products similar
to yours. Visit these booths when only
the company representative is there and ask if the company ever works with
independent inventors. If so, ask if you
may exchange business cards with the representative now and send information
about your invention to the representative later.</span></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal" style="margin-left: .5in; text-indent: -.25in;">
<span style="font-size: small;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Selecting your
business partners carefully, then trusting them. Don’t let fear of intellectual property theft
prevent you from profiting from your invention.
Most people are honest, but nondisclosure agreements can help keep them
honest.</span></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-size: small;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Thank you, Mr. Jackson, for sharing your lifelong enthusiasm
for and expertise in innovation with us!</span></span></div>
Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8842075329151487950.post-79742532609630581722019-11-07T04:47:00.002-05:002024-03-18T05:11:56.741-04:00November 2019<!--[if gte mso 9]><xml>
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<br />
<div class="MsoNormal">
<span style="font-family: "arial" , "helvetica" , sans-serif;">Patenting an invention can give an inventor a competitive
advantage in the marketplace.<span style="mso-spacerun: yes;"> </span>But preparing
and prosecuting a patent application takes time, money, and expertise.<span style="mso-spacerun: yes;"> </span>Some energetic inventors who can’t afford to
hire a patent attorney or patent agent take time to acquire the expertise </span><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif;">needed
</span>to prepare and prosecute their own patent applications.<span style="mso-spacerun: yes;"> </span><b style="mso-bidi-font-weight: normal;">Michael
Pugel</b> (patent attorney, <span style="mso-bidi-font-weight: normal;"><a href="https://www.eurekovation.com/home">Eurekovation, LLC</a></span>) described
resources available to these <i style="mso-bidi-font-style: normal;">pro se</i>
applicants.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: "arial" , "helvetica" , sans-serif;">“<a href="https://www.amazon.com/Patent-Yourself-David-Pressman-Attorney/dp/B004AYDDQU/ref=dp_ob_title_bk">Patent
It Yourself</a>” by patent attorney David
Pressman is a good general introduction to the topic.<span style="mso-spacerun: yes;"> </span>Step one is to keep an <a href="https://www.amazon.com/Inventors-Notebook-Patent-Yourself-Companion/dp/1413306446">inventor’s
notebook</a> in which ideas, the invention process, experimental tests and
results, and observations are recorded, dated, signed, and witnessed.<span style="mso-spacerun: yes;"> </span>The United States Patent and Trademark Office
(USPTO) grants a patent to the first <b style="mso-bidi-font-weight: normal;">inventor</b>
to file a patent application for a particular invention.<span style="mso-spacerun: yes;"> </span>The notebook helps to establish that persons
listed as inventors in a patent application are, in fact, inventors.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: "arial" , "helvetica" , sans-serif;">Step two is to write a patent application.<span style="mso-spacerun: yes;"> </span>The USPTO’s <a href="https://www.uspto.gov/patents-getting-started/using-legal-services/pro-se-assistance-program">Pro
Se Assistance Program</a>, <a href="https://www.uspto.gov/learning-and-resources/support-centers/inventors-assistance-center-iac">Inventors
Assistance Center</a>, <a href="https://www.uspto.gov/patent/patent-quality/virtual-instructor-led-training-1">virtual
instructor led training</a>, and <i style="mso-bidi-font-style: normal;"><a href="https://www.uspto.gov/learning-resources">Learning and Resources</a></i>
page offer help with this.<span style="mso-spacerun: yes;"> </span>For example, a
<a href="https://www.uspto.gov/sites/default/files/inventors/Checklist_for_Filing_a_Nonprovisional_Utility.pdf">checklist</a>
and <a href="https://www.uspto.gov/patents-getting-started/patent-basics/types-patent-applications/nonprovisional-utility-patent">guide</a>
for preparing a nonprovisional utility patent application are available.<span style="mso-spacerun: yes;"> </span>Librarians in <a href="https://www.uspto.gov/learning-and-resources/support-centers/patent-and-trademark-resource-centers-ptrc/ptrc-locations-21">Indianapolis</a>
and in <a href="https://www.uspto.gov/learning-and-resources/support-centers/patent-and-trademark-resource-centers-ptrc/ptrc-locations-22">West
Lafayette</a> demonstrate how to use patent examiner systems for finding prior
art.<span style="mso-spacerun: yes;"> </span>USPTO personnel by phone and in
person explain different types of applications, help complete forms and locate
resources, and review applications for compliance with regulations.<span style="mso-spacerun: yes;"> </span>Monthly online <a href="https://www.uspto.gov/patents-application-process/inventor-info-chat">Inventor
Info Chats</a> are available, as are a <a href="https://www.uspto.gov/learning-and-resources/newsletter-archives-old">newsletter</a>
and<span style="mso-spacerun: yes;"> </span><a href="https://www.uspto.gov/about-us/events">in-person</a> workshops and
independent inventor conferences.<span style="mso-spacerun: yes;"> </span>The
USPTO does not offer legal advice, but individuals and small businesses who
qualify can receive free legal advice and help from patent attorneys or patent
agents through the USPTO’s <a href="https://www.uspto.gov/patents-getting-started/using-legal-services/pro-bono/patent-pro-bono-program">Patent
Pro Bono Program</a> in Bloomington,
IN.</span></div>
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<div class="MsoNormal">
<span style="font-family: "arial" , "helvetica" , sans-serif;">Step three is to file the patent application.<span style="mso-spacerun: yes;"> </span><a href="https://www.uspto.gov/patents-application-process/applying-online/getting-started-new-users">Create</a>
a USPTO account, get a USPTO customer number, verify your account, and learn
how to use the USPTO’s <a href="https://www.uspto.gov/patents-application-process/applying-online/efs-web-guidance-and-resources">electronic
filing system</a>. <span style="mso-spacerun: yes;"> </span>Include payment for
the appropriate <a href="https://www.uspto.gov/learning-and-resources/fees-and-payment/uspto-fee-schedule">fees</a>.</span></div>
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<br /></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Step four is to prosecute the application.<span style="mso-spacerun: yes;"> </span>This is a months- or years-long legal conversation
between a patent examiner and the applicant about which, if any, features of
the invention claimed in the application should be patented.<span style="mso-spacerun: yes;"> </span>The conversation is always summarized in
writing and may include in-person meetings and teleconferences.<span style="mso-spacerun: yes;"> </span>If the examiner’s final decision is to reject
some or all of the patent claims, the applicant may abandon the application,
appeal the decision, request continued examination of the application, or file
a new or continuation application.<span style="mso-spacerun: yes;"> </span>If the examiner
instead allows some or all of the patent claims, the applicant may pay
additional fees to get a patent.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Thank you, Mr. Pugel, for sharing these valuable resources
with us.</span></div>
Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8842075329151487950.post-69715386795201544452019-10-05T06:52:00.006-04:002024-03-18T05:11:57.123-04:00October 2019<div class="MsoNormal">
<span face="Arial, Helvetica, sans-serif"><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span style="color: blue;">The market rewards execution, not ideas.</span></i></b><span style="color: blue;"></span></span></div>
<span face="Arial, Helvetica, sans-serif"> </span><div class="MsoNormal" style="margin-left: 0.5in; text-indent: -0.25in;">
<span face="Arial, Helvetica, sans-serif">—Scott Adams, “<a href="https://www.wsj.com/articles/scott-adams8217-secret-of-success-failure-1381639163">Scott Adams' Secret of Success: Failure</a>”, Wall Street Journal, October 12, 2013.</span></div>
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<br /></div>
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<br /></div>
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<span face="Arial, Helvetica, sans-serif"><b style="mso-bidi-font-weight: normal;"><span style="text-transform: uppercase;">Is the juice worth the squeeze?</span></b></span></div>
<span face="Arial, Helvetica, sans-serif"> </span><div class="MsoNormal">
<span face="Arial, Helvetica, sans-serif">How do you convert an idea to money?<span style="mso-spacerun: yes;"> </span>By doing something to unlock the value of the idea.<span style="mso-spacerun: yes;"> </span>Even though it’s easier now than ever before to bring an idea to the marketplace, risk and expense remain part of being an entrepreneur.<span style="mso-spacerun: yes;"> </span>Success in the marketplace almost always entails failure.<span style="mso-spacerun: yes;"> </span>Fear of failure is the number one reason people don’t do anything with their ideas.</span></div>
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<br /></div>
<span face="Arial, Helvetica, sans-serif"> </span><div class="MsoNormal">
<span face="Arial, Helvetica, sans-serif"><b><a href="https://louisforeman.com/about-louis-foreman/">Louis Foreman</a> </b>(author, <i style="mso-bidi-font-style: normal;">The Independent Inventor's Handbook: The Best Advice from Idea to Payoff</i>; publisher, <i style="mso-bidi-font-style: normal;">Inventors Digest</i>; founder and CEO, Edison Nation, Enventys, and Edison Nation Medical) takes away that fear by transferring all of the risk and expense to his company, Edison Nation.<span style="mso-spacerun: yes;"> </span>He helps people find out if bringing their ideas to market is worth it.<span style="mso-spacerun: yes;"> </span>His company is for individuals who want to profit from a new idea that solves (or might solve) a problem but who don’t want to be entrepreneurs.<span style="mso-spacerun: yes;"> </span>Edison Nation filters ideas and gets the best to companies that buy or license the ideas.</span></div>
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<br /></div>
<span face="Arial, Helvetica, sans-serif"> </span><div class="MsoNormal">
<span face="Arial, Helvetica, sans-serif">It costs $25 to submit a new idea (ie, one not found with a Google search) to Edison Nation.<span style="mso-spacerun: yes;"> </span>The person submitting the idea pays nothing else.<span style="mso-spacerun: yes;"> </span>If Edison nation successfully sells or licenses the idea, the person and Edison Nation split the profit 50:50.<span style="mso-spacerun: yes;"> </span>The person may withdraw the submission without penalty at any time during the first 6 steps (ie, before the idea is offered for licensing or sale to companies) and try to profit from the idea without help from Edison Nation.</span></div>
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<br /></div>
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<span face="Arial, Helvetica, sans-serif"><b style="mso-bidi-font-weight: normal;"><span style="text-transform: uppercase;">Execution</span></b></span></div>
<span face="Arial, Helvetica, sans-serif"> </span><div class="MsoNormal">
<span face="Arial, Helvetica, sans-serif">Mr. Foreman told us how Edison Nation uses an 8-step process to unlock the value of a good idea.<span style="mso-spacerun: yes;"> </span>The idea can take various forms: identification of a solvable problem (eg, “I hate peeling hard-boiled eggs.”), an idea that might solve a problem (eg, “Avoid peeling hard-boiled eggs by boiling shell-less eggs in an easily opened artificial shell.”), or an invention that solves a problem (eg, <a href="https://www.amazon.com/Eggies-Hard-Boiled-Egg-System/dp/B005BY5I2K">Eggies</a>, patents <a href="http://www.freepatentsonline.com/D662351.pdf">D662351</a>, <a href="http://www.freepatentsonline.com/D654759.pdf">D654759</a>, and <a href="http://www.freepatentsonline.com/D714093.pdf">D714093</a>).</span></div>
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<span face="Arial, Helvetica, sans-serif">Experts at Edison Nation typically pick 3 ideas each week (of the 55 ideas per day received) that they predict will yield a desirable return on investment.<span style="mso-spacerun: yes;"> </span>Before developing the ideas, they test each with 5 questions.</span></div>
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<span face="Arial, Helvetica, sans-serif"> </span><div class="MsoNormal" style="margin-left: 0.25in;">
<span face="Arial, Helvetica, sans-serif"> 1. What is the product/service?</span></div>
<span face="Arial, Helvetica, sans-serif"> </span><div class="MsoNormal" style="margin-left: 0.5in;">
<span face="Arial, Helvetica, sans-serif">What makes it valuable?<span style="mso-spacerun: yes;"> </span>(How does it make life easier or more enjoyable?)</span></div>
<span face="Arial, Helvetica, sans-serif"> </span><div class="MsoNormal" style="margin-left: 0.5in;">
<span face="Arial, Helvetica, sans-serif">What makes it unique?<span style="mso-spacerun: yes;"> </span>(How does it differ from its competition?)</span></div>
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<br /></div>
<span face="Arial, Helvetica, sans-serif"> </span><div class="MsoNormal" style="margin-left: 0.25in;">
<span face="Arial, Helvetica, sans-serif"> 2. Who is the customer?</span></div>
<span face="Arial, Helvetica, sans-serif"> </span><div class="MsoNormal" style="margin-left: 0.5in;">
<span face="Arial, Helvetica, sans-serif">• Age<span style="mso-tab-count: 1;"> </span>• Income<span style="mso-tab-count: 1;"> </span>• Education<span style="mso-tab-count: 1;"> </span>• Location</span></div>
<span face="Arial, Helvetica, sans-serif"> </span><div class="MsoNormal" style="margin-left: 0.5in;">
<span face="Arial, Helvetica, sans-serif">This estimates how big the market is for this product/service.</span></div>
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<br /></div>
<span face="Arial, Helvetica, sans-serif"> </span><div class="MsoNormal" style="margin-left: 0.25in;">
<span face="Arial, Helvetica, sans-serif"> 3. How will the customer react to the product/service?</span></div>
<span face="Arial, Helvetica, sans-serif"> </span><div class="MsoNormal" style="margin-left: 0.5in;">
<span face="Arial, Helvetica, sans-serif">Ask the customer if he would buy it.</span></div>
<span face="Arial, Helvetica, sans-serif"> </span><div class="MsoNormal" style="margin-left: 0.75in;">
<span face="Arial, Helvetica, sans-serif">How much would he pay for it?</span></div>
<span face="Arial, Helvetica, sans-serif"> </span><div class="MsoNormal" style="margin-left: 0.75in;">
<span face="Arial, Helvetica, sans-serif">Is the product/service more expensive than the problem?</span></div>
<span face="Arial, Helvetica, sans-serif"> </span><div class="MsoNormal" style="margin-left: 0.75in;">
<span face="Arial, Helvetica, sans-serif">From where (eg, store, online) would he buy it?<span style="mso-spacerun: yes;"> </span></span></div>
<span face="Arial, Helvetica, sans-serif"> </span><div class="MsoNormal" style="margin-left: 0.75in;">
<span face="Arial, Helvetica, sans-serif">What would drive his decision to buy? (eg, job bonus, convenience)</span></div>
<span face="Arial, Helvetica, sans-serif"> </span><div class="MsoNormal" style="margin-left: 0.75in;">
<span face="Arial, Helvetica, sans-serif">How often would he buy it?</span></div>
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<br /></div>
<span face="Arial, Helvetica, sans-serif"> </span><div class="MsoNormal" style="margin-left: 0.5in;">
<span face="Arial, Helvetica, sans-serif">Online surveys and forums and in-person interviews (group and individual) suggest whether there is a demand for the product/service.<span style="mso-spacerun: yes;"> </span>This information can be obtained without revealing any specific details of the idea.</span></div>
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<br /></div>
<span face="Arial, Helvetica, sans-serif"> </span><div class="MsoNormal" style="margin-left: 0.25in;">
<span face="Arial, Helvetica, sans-serif"> 4. How much money will it take to make the product/service profitable?</span></div>
<span face="Arial, Helvetica, sans-serif"> </span><div class="MsoNormal" style="margin-left: 0.5in;">
<span face="Arial, Helvetica, sans-serif">This calculation includes basic costs (eg, obtaining a patent, creating a prototype, etc.) as well as operating costs and involves creating <a href="https://www.investopedia.com/terms/p/proforma.asp">a pro forma income statement</a>.</span></div>
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<br /></div>
<span face="Arial, Helvetica, sans-serif"> </span><div class="MsoNormal" style="margin-left: 0.25in;">
<span face="Arial, Helvetica, sans-serif"> 5. Where will that money come from?</span></div>
<span face="Arial, Helvetica, sans-serif"> </span><div class="MsoNormal" style="margin-left: 0.5in;">
<span face="Arial, Helvetica, sans-serif">Typical sources are yourself, friends and family, crowdfunding, banks, angel investors, and the <a href="https://www.sba.gov/">Small Business Administration</a>.</span></div>
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<br /></div>
<span face="Arial, Helvetica, sans-serif"> </span><div class="MsoNormal" style="margin-left: 0.5in;">
<span face="Arial, Helvetica, sans-serif">Crowdfunding (<span class="dttext">obtaining funding by soliciting contributions online from a large number of people; </span>eg, <a href="https://www.kickstarter.com/">Kickstarter</a>, <a href="https://www.indiegogo.com/">IndieGoGo</a>), by changing the relation of risk to reward, has made it much easier to bring an idea to market.</span></div>
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<br /></div>
<span face="Arial, Helvetica, sans-serif"> </span><div class="MsoNormal" style="margin-left: 0.85in; text-indent: -0.1in;">
<span face="Arial, Helvetica, sans-serif">• It indicates demand.<span style="mso-spacerun: yes;"> </span>Loyal customers buy a product/service before it has been manufactured, not knowing when it will be available, and with no opportunity for a refund.</span></div>
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<br /></div>
<span face="Arial, Helvetica, sans-serif"> </span><div class="MsoNormal" style="margin-left: 0.85in; text-indent: -0.1in;">
<span face="Arial, Helvetica, sans-serif">• It provides traction (<span class="dttext">support needed for something to succeed</span>).<span style="mso-spacerun: yes;"> </span>Money from crowdfunding sales pays for initial manufacturing and for additional sales made through an individual’s website, Amazon.com, or an <a href="https://www.investopedia.com/terms/c/click_and_mortar.asp">omnichannel</a> business model.<span style="mso-spacerun: yes;"> </span>Evidence of sales on this small scale can persuade big retailers (eg, Walmart) to sell the product/service.</span></div>
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<br /></div>
<span face="Arial, Helvetica, sans-serif"> </span><div class="MsoNormal" style="margin-left: 0.85in; text-indent: -0.1in;">
<span face="Arial, Helvetica, sans-serif">• <a href="https://enventyspartners.com/case-study/bunch-o-balloons/">Successful</a> crowdfunding requires a prototype, a good video of your product/service, and money for marketing.</span></div>
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<span face="Arial, Helvetica, sans-serif">Only if the numbers add up do the experts start to work on the idea.<span style="mso-spacerun: yes;"> </span>At each of the 8 steps, they do all of the hard work, look at the result, and decide whether to continue to the next step.<span style="mso-spacerun: yes;"> </span>They find all of the money needed to develop the idea, to get legal protection (patents, copyrights, trademarks) for the idea, to create a proof of concept (ie, prototype) for the idea, and to find companies that want to buy or license the idea.</span></div>
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<span face="Arial, Helvetica, sans-serif"><b style="mso-bidi-font-weight: normal;"><span style="text-transform: uppercase;">Entrepreneurs</span></b></span></div>
<span face="Arial, Helvetica, sans-serif"> </span><div class="MsoNormal">
<span face="Arial, Helvetica, sans-serif">Inventors (eg, <a href="https://www.youtube.com/watch?v=PzCU7fiTXEw">James Dyson</a>) who want to be entrepreneurs may not need Edison Nation if they have what it takes: </span></div>
<span face="Arial, Helvetica, sans-serif"> </span><div class="MsoNormal" style="margin-left: 0.5in;">
<span face="Arial, Helvetica, sans-serif">• Passion for being an entrepreneur, which infects business partners;</span></div>
<span face="Arial, Helvetica, sans-serif"> </span><div class="MsoNormal" style="margin-left: 0.5in;">
<span face="Arial, Helvetica, sans-serif">• Patience in bringing an idea to market, which can take 10 years or more; and</span></div>
<span face="Arial, Helvetica, sans-serif"> </span><div class="MsoNormal" style="margin-left: 0.5in;">
<span face="Arial, Helvetica, sans-serif">• Persistence to overcome the inevitable obstacles that every entrepreneur faces.</span></div>
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<span face="Arial, Helvetica, sans-serif"> </span><div class="MsoNormal">
<span face="Arial, Helvetica, sans-serif"><b style="mso-bidi-font-weight: normal;">JOIN</b></span></div>
<span face="Arial, Helvetica, sans-serif"> </span><div class="MsoNormal">
<span face="Arial, Helvetica, sans-serif">It’s free to join Edison Nation.<span style="mso-spacerun: yes;"> </span>Benefits include access to online forums where you can learn about industry trends, get answers to common questions, and read about the latest happenings at Edison Nation.</span></div>
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<br /></div>
<span face="Arial, Helvetica, sans-serif"> </span><div class="MsoNormal">
<span face="Arial, Helvetica, sans-serif">You can also read <a href="https://www.inventorsdigest.com/">Inventors Digest</a> online for free.<span style="mso-spacerun: yes;"> </span>It is the the leading print and online publication for the innovation culture.</span></div>
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<span face="Arial, Helvetica, sans-serif"><b style="mso-bidi-font-weight: normal;">Thank you</b>, Mr. Foreman and Ms. Carroll, for visiting us and for telling us about your excellent resource for inventors!</span></div>
Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8842075329151487950.post-80447842354713462412019-07-29T03:23:00.003-04:002024-03-18T05:11:57.504-04:00July 2019<span face="Arial, Helvetica, sans-serif"><br /></span>
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<div class="MsoNormal">
<span face="Arial, Helvetica, sans-serif"><b style="mso-bidi-font-weight: normal;"><span style="mso-bidi-font-family: Arial;">Teresa Holland,
MSN, RN</span></b><span style="mso-bidi-font-family: Arial;"> discussed what
she learned from trying to market her medical <a href="http://www.freepatentsonline.com/6764451.pdf">invention</a>.<span style="mso-spacerun: yes;"> </span>If she had it to do over again, she would
start by developing a sound <a href="https://www.score.org/resource/business-plan-template-startup-business">business
plan</a> and then connect to community resources.</span></span></div>
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<br /></div>
<div class="MsoNormal">
<span face="Arial, Helvetica, sans-serif"><span style="mso-bidi-font-family: Arial;">Don’t assume that
if you build a product, customers will come.<span style="mso-spacerun: yes;">
</span>Instead, do the hard work of developing a business plan that answers
important questions like:</span></span></div>
<ul type="disc">
<li class="MsoNormal" style="mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span face="Arial, Helvetica, sans-serif"><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span style="mso-bidi-font-family: Arial;">Costs</span></i></b><span style="mso-bidi-font-family: Arial;">: What
will it cost to <a href="https://www.smartsheet.com/all-about-new-product-development-process">develop</a>
your invention and bring it to market?<span style="mso-spacerun: yes;">
</span>What will the costs be before your product is manufactured?<span style="mso-spacerun: yes;"> </span>Who will invest in this effort?<span style="mso-spacerun: yes;"> </span>(Angel investors are a good source of
funding for medical inventions.)</span></span></li>
<li class="MsoNormal" style="mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span face="Arial, Helvetica, sans-serif"><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span style="mso-bidi-font-family: Arial;">Patents</span></i></b><span style="mso-bidi-font-family: Arial;">:
Can and should your invention be patented?<span style="mso-spacerun: yes;">
</span>If so, how much will it cost?<span style="mso-spacerun: yes;">
</span>Only new inventions can be patented.</span></span></li>
<li class="MsoNormal" style="mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span face="Arial, Helvetica, sans-serif"><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span style="mso-bidi-font-family: Arial;">Product Development</span></i></b><span style="mso-bidi-font-family: Arial;">: Who (you or someone you hire) will develop your product?<span style="mso-spacerun: yes;"> </span>What will development entail and how
will development be done?</span></span></li>
<li class="MsoNormal" style="mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span face="Arial, Helvetica, sans-serif"><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span style="mso-bidi-font-family: Arial;">Resources</span></i></b><span style="mso-bidi-font-family: Arial;">:
What resources (accountants, advertisers, attorneys/agents, distributors,
licensees, manufacturers, product developers, public relations people,
salesmen, etc.) will you need to market your invention?<br />
If you try to get a patent for your invention, be sure to hire a patent
attorney/agent who is familiar with the technology of your invention and
can fully represent your idea.<span style="mso-spacerun: yes;"> </span>Find
out if that person will write your patent application, if there is any
conflict of interest with other clients, and what hourly/project rate you
will be charged.<span style="mso-spacerun: yes;"> </span>Will that person
be subject to any noncompete clauses?<span style="mso-spacerun: yes;">
</span>Be sure to personally review your patent application before it is
submitted to the U.S. Patent Office.</span></span></li>
<li class="MsoNormal" style="mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span face="Arial, Helvetica, sans-serif"><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span style="mso-bidi-font-family: Arial;">Sales</span></i></b><span style="mso-bidi-font-family: Arial;">: Who
will buy your product and for what price?<span style="mso-spacerun: yes;">
</span>Will the expected profit be enough to make marketing your invention
worthwhile?</span></span></li>
</ul>
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<span face="Arial, Helvetica, sans-serif"><span style="mso-bidi-font-family: Arial;">A business plan is
helpful and an invention that satisifies a real need is necessary, but
successfully marketing an invention is 95% implementation.<span style="mso-spacerun: yes;"> </span>Don’t get caught watching the paint dry.<span style="mso-spacerun: yes;"> </span>If you get a utility patent for your
invention, remember that the 20-year <a href="https://www.uspto.gov/web/offices/pac/mpep/s2701.html">clock</a> starts
ticking on the earliest file date of your patent application.</span></span></div>
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<span face="Arial, Helvetica, sans-serif"><span style="mso-bidi-font-family: Arial;">Thank you for
sharing your hard-won knowledge with us Ms. Holland!</span></span></div>
Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8842075329151487950.post-65906579049812958852019-06-10T08:03:00.004-04:002024-03-18T05:11:57.885-04:00June 2019<span face=""arial" , "helvetica" , sans-serif" style="font-size: small;"> </span><br />
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<span face=""arial" , "helvetica" , sans-serif" style="font-size: small;"><span style="font-size: 12pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 11.5pt;">Marketing a new invention is speculative. There is no guarantee that you will recover or profit from your investment. To help inventors minimize their risks, the European Patent Office offers this general advice on avoiding seven marketing <a href="http://web.archive.org/web/20080517092545/http:/www.epo.org/topics/patent-system/seven-sins.html"><span style="mso-bidi-font-size: 12.0pt;">mistakes</span></a>.</span><span style="font-size: 12pt;"></span></span></div>
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<ol start="1" type="1">
<li class="MsoNormal" style="mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span face=""arial" , "helvetica" , sans-serif" style="font-size: small;"><span style="font-size: 12pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 11.5pt;">The invention is more complex than the problem merits. A needlessly complex invention drives up production costs and confuses customers.</span><span style="font-size: 12pt;"></span></span></li>
<li class="MsoNormal" style="mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span face=""arial" , "helvetica" , sans-serif" style="font-size: small;"><span style="font-size: 12pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 11.5pt;">The invention is not kept secret until the date of filing. Publicly disclosing your invention before you file a patent application prevents you from getting a patent from most countries other than the United States.</span><span style="font-size: 12pt;"></span></span></li>
<li class="MsoNormal" style="mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span face=""arial" , "helvetica" , sans-serif" style="font-size: small;"><span style="font-size: 12pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 11.5pt;">The invention isn’t new. Patents are issued only for new inventions. Do a patent search before you invest in marketing.</span><span style="font-size: 12pt;"></span></span></li>
<li class="MsoNormal" style="mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span face=""arial" , "helvetica" , sans-serif" style="font-size: small;"><span style="font-size: 12pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 11.5pt;">The inventor hasn't fully considered the problem. No one wants to buy an invention that <span style="mso-bidi-font-size: 12.0pt;">doesn’ work</span>.</span><span style="font-size: 12pt;"></span></span></li>
<li class="MsoNormal" style="mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span face=""arial" , "helvetica" , sans-serif" style="font-size: small;"><span style="font-size: 12pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 11.5pt;">No one wants it. Do some <a href="http://indianainventorsassociation.blogspot.com/2018/02/february-2018.html"><span style="mso-bidi-font-size: 12.0pt;">customer research</span></a> before you manufacture or try to license your invention. Just because you like your invention doesn’t mean anyone else will. Even if people need your product, you may need to teach them why they need it.</span><span style="font-size: 12pt;"></span></span></li>
<li class="MsoNormal" style="mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span face=""arial" , "helvetica" , sans-serif" style="font-size: small;"><span style="font-size: 12pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 11.5pt;">An invention is safer if it's kept secret. If you can’t keep your invention as a trade secret (eg, if your product can be reverse-engineered), a patent offers the strongest protection against knockoffs.</span><span style="font-size: 12pt;"></span></span></li>
<li class="MsoNormal" style="mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span face=""arial" , "helvetica" , sans-serif" style="font-size: small;"><span style="font-size: 12pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 11.5pt;">The inventor has an unrealistic idea of the value of his invention. Again, do some customer research before manufacturing or licensing. You can’t afford to make a product for $3 per unit if customers will pay only $1 per unit.</span><span style="font-size: 12pt;"></span></span></li>
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<span face=""arial" , "helvetica" , sans-serif" style="font-size: small;"><span style="font-size: 12pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 11.5pt;">One invention development company offers a different list of <span style="mso-bidi-font-size: 12.0pt;">mistakes</span>.</span><span style="font-size: 12pt;"></span></span></div>
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<li class="MsoNormal" style="mso-list: l1 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span face=""arial" , "helvetica" , sans-serif" style="font-size: small;"><span style="font-size: 12pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 11.5pt;">Using an invention promotion or development company. If you hire such a company to market your invention, statistically, your chance of profiting from your invention is usually less than 1%; the company’s chance of profiting from your invention is 100%.</span><span style="font-size: 12pt;"></span></span></li>
<li class="MsoNormal" style="mso-list: l1 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span face=""arial" , "helvetica" , sans-serif" style="font-size: small;"><span style="font-size: 12pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 11.5pt;">Getting a bad patent search. Knowing your competition will help you know what to patent and to sell.</span><span style="font-size: 12pt;"></span></span></li>
<li class="MsoNormal" style="mso-list: l1 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span face=""arial" , "helvetica" , sans-serif" style="font-size: small;"><span style="font-size: 12pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 11.5pt;">Trying to license your invention prematurely. Showing potential licensees a working example of the specific product you want to market moves the invention from imagination to reality. Much more persuasive.</span><span style="font-size: 12pt;"></span></span></li>
<li class="MsoNormal" style="mso-list: l1 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span face=""arial" , "helvetica" , sans-serif" style="font-size: small;"><span style="font-size: 12pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 11.5pt;">Ordering units too early. You don’t need more than 1 unit (the prototype) to license or crowdfund your invention. If you want to make and sell products, make sure you know exactly what you want to sell before making several units.</span><span style="font-size: 12pt;"></span></span></li>
<li class="MsoNormal" style="mso-list: l1 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span face=""arial" , "helvetica" , sans-serif" style="font-size: small;"><span style="font-size: 12pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 11.5pt;">Getting expensive services before proof of principle. Developing the simplest form of your invention can help you learn what its essential parts and design are. Unless and until you have something that works, money spent on patents, customer research, and seeking investors might be wasted.</span><span style="font-size: 12pt;"></span></span></li>
<li class="MsoNormal" style="mso-list: l1 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span face=""arial" , "helvetica" , sans-serif" style="font-size: small;"><span style="font-size: 12pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 11.5pt;">Getting a bad patent from a patent attorney. Patent claims must be as broad as possible to protect your true market share.</span><span style="font-size: 12pt;"></span></span></li>
<li class="MsoNormal" style="mso-list: l1 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span face=""arial" , "helvetica" , sans-serif" style="font-size: small;"><span style="font-size: 12pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 11.5pt;">Not mastering the art of invention development. Learn as much about invention development as you can because you alone are responsible for successfully marketing your invention. If you decide to pay a company to develop your invention, the <a href="https://www.bbb.org/"><span style="mso-bidi-font-size: 12.0pt;">Better Business Bureau</span></a> suggests that you document the company’s record of how many of its clients made money on their inventions. Be cautious if the company will not identify the inventions, manufacturers, or licensing corporations with which it has had success. Check customer references provided by the company. Be wary if the company evaluates your invention without determining its true marketability, technical feasibility, or cost of production.</span><span style="font-size: 12pt;"></span></span></li>
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<span face=""arial" , "helvetica" , sans-serif" style="font-size: small;"><span style="font-size: 12pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 11.5pt;">Many thanks to Matt Thie for leading this discussion!</span><span style="font-size: 12pt;"></span></span></div>
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Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8842075329151487950.post-73151521659871659692019-03-31T04:04:00.004-04:002024-03-18T05:11:58.266-04:00March 2019<!--[if gte mso 9]><xml>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b style="mso-bidi-font-weight: normal;"><a href="https://www.uspatent.com/professionals/?show=17">Charles Meyer</a></b> (partner, Woodard, Emhardt, Henry, Reeves & Wagner LLP) gave us a very interesting and witty review of intellectual property.<span style="mso-spacerun: yes;"> </span>For more information than this brief summary provides, talk with someone who was there.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;">Take-home message</i></b>: Intellectual property protects your identity and your market share.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The most popular forms of intellectual property are copyrights, patents, and trademarks. <span style="mso-spacerun: yes;"> </span>A trademark brands your products with your identity.<span style="mso-spacerun: yes;"> </span>A patent prevents others from benefiting from your invention (a product or process, an ornamental design for a manufactured product, or a plant).<span style="mso-spacerun: yes;"> </span>A copyright prevents others from copying your particular tangible expression of an idea (not the idea itself).</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b style="mso-bidi-font-weight: normal;"><a href="https://www.uspto.gov/trademark">Trademark</a></b></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">A trademark (for goods), service mark (for services), or trade dress (trademark for the image and overall appearance of goods) identifies you as the origin of a good or service.<span style="mso-spacerun: yes;"> </span>It lets consumers know what quality or consistency to expect when they buy from you.<span style="mso-spacerun: yes;"> </span>A mark can be anything that is sensate and nonfunctional: a sight (word, design, packaging shape [eg, <a href="https://www.coca-colacompany.com/stories/the-story-of-the-coca-cola-bottle">Coca Cola bottle</a>]), sound (eg, <a href="https://en.wikipedia.org/wiki/NBC_chimes">NBC chimes</a>), smell (eg, <a href="https://www.washingtonpost.com/news/business/wp/2018/05/24/remember-how-play-doh-smells-u-s-trademark-officials-get-it/?noredirect=on&utm_term=.13ed3d1259eb">Play-Doh</a>), touch (eg, <a href="http://www.inta.org/intabulletin/pages/anontraditionalperspectrum.aspx">Khvanchkara</a> wine packaging), and <a href="https://www.lexology.com/library/detail.aspx?g=25dbbf32-f376-430e-a2bb-6175c34c3344">taste</a> (no examples <a href="https://digitalcommons.law.yale.edu/yjolt/vol19/iss1/8/?utm_source=digitalcommons.law.yale.edu%2Fyjolt%2Fvol19%2Fiss1%2F8&utm_medium=PDF&utm_campaign=PDFCoverPages">yet</a>).</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Rights to a mark are acquired by use.<span style="mso-spacerun: yes;"> </span>Registration of a mark with the U.S. Patent and Trademark Office (USPTO) records the rights and offers additional benefits: protection throughout the country (instead of just the area of immediate use), own the mark before actually using it, presumption in court proceedings that you own the mark, protection by U.S. Customs, and—best of all—a “no trespassing” sign that discourages lawsuits over who owns a mark.<span style="mso-spacerun: yes;"> </span>Search the USPTO <a href="https://www.uspto.gov/trademarks-application-process/search-trademark-database">database</a> for existing marks before choosing a mark.<span style="mso-spacerun: yes;"> </span>The cost of a professional seach, depending on completeness, ranges from $100 to $1500.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The protective strength of marks varies.<span style="mso-spacerun: yes;"> </span>The goal is to avoid confusing the public about which mark goes with which good or service.<span style="mso-spacerun: yes;"> </span>Weaker marks are more likely to be challenged in court.<span style="mso-spacerun: yes;"> </span>The strongest kind of mark, arbitrary or fanciful, has no relation to the good or service (eg, APPLE computer).<span style="mso-spacerun: yes;"> </span>A little weaker is a suggestive mark, which requires some thinking to link the mark to the good or service (eg, GREYHOUND bus service).<span style="mso-spacerun: yes;"> </span>Weaker still is a descriptive mark, which uses some trait of the good or service (eg, UPS brown color).<span style="mso-spacerun: yes;"> </span>Weakest of all is a generic mark, which uses a common description of the good or service (eg, CAR).<span style="mso-spacerun: yes;"> </span>One test of the strength of a trademark is to put a trademarked item in a bag, tell someone what the trademark is, and ask if the person can tell you what is in the bag.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">To avoid loss of a mark, use it as an adjective, never as a verb (eg, don’t say you xeroxed something on a XEROX machine).<span style="mso-spacerun: yes;"> </span>In writing about your mark, designate an unregistered mark with TM and a registered mark in all capital letters or with <span style="mso-char-type: symbol; mso-symbol-font-family: Symbol;">an R enclosed by a circle</span>.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b style="mso-bidi-font-weight: normal;"><a href="https://www.copyright.gov/">Copyrights</a></b></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Copyrights protect authored works such as poetry, computer software, architecture, a novel, painting, movie, or song.<span style="mso-spacerun: yes;"> </span>In the United States, copyrights automatically apply to an authored work the moment it is expressed in a tangible medium.<span style="mso-spacerun: yes;"> </span>The owner has 6 exclusive rights: to reproduce the work, to derive works from the original, to distribute copies of the work or to transfer ownership of the work, to publicly perform the work, to publicly display the work, and to publicly perform a protected sound recording by digital audio transmission.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">A copyright owner can sue for infringement to recover statutory damages and attorney fees only if the work is registered with the U.S. Copyright office.<span style="mso-spacerun: yes;"> </span>Additional benefits of registration include a “no trespassing” sign and a presumption of ownership in court proceedings.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Copyright law is written for the plaintiff, not the defendant.<span style="mso-spacerun: yes;"> </span>To protect yourself from infringing another’s copyrights, attribute works of others that you use.<span style="mso-spacerun: yes;"> </span>If using a picture you find on the internet, read the fine print on whether and how you may use it.<span style="mso-spacerun: yes;"> </span>Disclose any payment you receive for publicly endorsing a work.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b style="mso-bidi-font-weight: normal;"><a href="https://www.uspto.gov/patent">Patents</a></b></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">A patent is all about building a better mouse trap.<span style="mso-spacerun: yes;"> </span>It is granted by the USPTO for the U.S., by other regulatory agencies for other parts of the world.<span style="mso-spacerun: yes;"> </span>It exludes others from benefiting from your invention for a set time, typically 17 years for a utility or plant patent and 15 years for a design patent.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">There are 3 kinds of U.S. patents.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">A utility patent protects useful, new, and nonobvious machines, manufactured items, processes, combinations of materials, or improvements of those.<span style="mso-spacerun: yes;"> </span>Computer software can be patented under some conditions.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">A design patent protects the nonfunctional ornamentation of a manufactured thing.<span style="mso-spacerun: yes;"> </span>It is like a trade dress except that protection lasts only for a set time and there is a less stringent requirement that the ornamentation be nonfunctional.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">A plant patent protects a new kind of plant that is designed or discovered.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">A patent:</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Is useful for:</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Offense; the better the patent, the less competition your invention will have in the market; and</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Defense; another patent owner may need to cross-license your patent before benefiting from his.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Says nothing about whether a patented product is a good idea, logically or functionally.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Varies in cost:</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Simply filing an application for a design patent may cost $2500; for a utility patent may cost $12000.<span style="mso-spacerun: yes;"> </span>The cost of prosecuting a utility patent can double that amount.</span></div>
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<br /></div>
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<br /></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">There are 2 kinds of utility patent applications.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">A nonprovisional application and the prosecution it entails are needed to get a patent. They are expensive and time-consuming and the application must be filed within 1 year of publicly disclosing the invention (but see below).<span style="mso-spacerun: yes;"> </span>If you also want a patent from another country, file this application before publicly disclosing the invention.</span></div>
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<br /></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">A provisional application lets you try before you buy.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">It is like a dinner reservation: call now and show up within 1 year with a nonprovisional application that refers to the provisional application.</span></div>
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<br /></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">A provisional application gives you <a href="https://www.uspto.gov/learning-and-resources/newsletter/inventors-eye/provisional-patent-application-what-you-need-know">an extra year</a> to file a nonprovisional application after publicly disclosing the invention.<span style="mso-spacerun: yes;"> </span>The USPTO grants a patent to the first inventor to file a patent application for a particular invention, so filing provisional applications early and often can be helpful.<span style="mso-spacerun: yes;"> </span>You can file a series of provisional applications as you incrementally develop your invention.<span style="mso-spacerun: yes;"> </span>You can market your invention, look for investors, or try to sell embodiments of your invention after filing a provisional application.<span style="mso-spacerun: yes;"> </span>If you like what you see, then roll your provisional applications into one nonprovisional application and file it within 1 year of filling the first provisional application.</span></div>
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<br /></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">A provisional application lasts 1 year and can be renewed but can not lead to a patent unless combined with a nonprovisional application.<span style="mso-spacerun: yes;"> </span>It can be less expensive, less time-consuming, and less formal than a nonprovisional application.<span style="mso-spacerun: yes;"> </span>But don’t be fooled—the patent office credits you only for what you disclose.<span style="mso-spacerun: yes;"> </span>Words are important.<span style="mso-spacerun: yes;"> </span>For example, stating that objects are joined by a fastener (which can be a nail, screw, or rivet) can provide more protection than stating that objects are joined by a nail.</span></div>
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<br /></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">After filing a provisional application, you may mark the unpatented products you sell as “patent pending”.<span style="mso-spacerun: yes;"> </span>This “no trespassing” sign warns competitors that they risk having a warehouse full of worthless knockoffs if your patent issues.</span></div>
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<br /></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">If your patent issues, mark your products with either the patent number or with an internet url address that shows the patent number.<span style="mso-spacerun: yes;"> </span>This lets you sue for financial damage due to any infringement that occurs before you notify an infringer to stop infringing your patent.<span style="mso-spacerun: yes;"> </span>Remove those marks after your patent expires.</span></div>
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<br /></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Nondisclosure agreements can help you seek business partners while protecting your unpatented invention.<span style="mso-spacerun: yes;"> </span>In general, the customer is always right.<span style="mso-spacerun: yes;"> </span>Someone who wants to buy or rent your patent is your customer and has no incentive to sign a nondisclosure agreement.<span style="mso-spacerun: yes;"> </span>You are the customer of a manufacturer or vendor you may hire, so they do have an incentive to sign a nondisclosure agreement.<span style="mso-spacerun: yes;"> </span>If you want, but can’t get, a nondisclosure agreement, you can still protect your invention by telling only enough about your invention to make it interesting and by clearly marking all documents you share as confidential.<span style="mso-spacerun: yes;"> </span>But your best protection will always be to file a patent application before seeking partners.</span></div>
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<br /></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b style="mso-bidi-font-weight: normal;">Thank you</b> for sharing your valuable time and expertise with us, Mr. Meyer!</span></div>
Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8842075329151487950.post-30629189975434901112019-02-19T07:39:00.002-05:002024-03-18T05:11:58.650-04:00February 2019<!--[if gte mso 9]><xml>
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<br />
<div class="MsoNormal">
<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Dave Zedonis</b> (president, Indiana Inventors Association; principal, <a href="http://www.dziae.com/">Z*Tech</a>; <a href="http://www.freepatentsonline.com/5637926.html">patentee</a>) treated us to a discussion on how to successfully invent and innovate.</span></div>
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<br /></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Inventing is in our genes.<span style="mso-spacerun: yes;"> </span>It gave our ancestors the edge they needed to prosper in hostile environments and gives us hope today for a better tomorrow.<span style="mso-spacerun: yes;"> </span>Almost everyone invents to some extent and for a variety of reasons.</span></div>
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<br /></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">If you invent to make money, solve an important, widespread, and widely known problem.<span style="mso-spacerun: yes;"> </span>Working or playing in any technical field will acquaint you with such problems.<span style="mso-spacerun: yes;"> </span>Chatting with or surveying experts and workers in technical fields (eg, at trade shows) can do the same.<span style="mso-spacerun: yes;"> </span>Solving such problems avoids a barrier to entering the market—the need to educate potential customers on the benefits of your invention.</span></div>
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<br /></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Stick with a problem that interests you.<span style="mso-spacerun: yes;"> </span>Solving an important problem can easily take 3 or 4 years.<span style="mso-spacerun: yes;"> </span>Developing a working prototype of your invention can help you learn more about the problem and your solution, can help you teach potential investors and clients about your invention, and can help you avoid those <a href="https://vimeo.com/232117612">Wile E. Coyote</a> moments that all inventors dread.</span></div>
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<br /></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">If you want to change the world, don’t think that discovery ends with your invention.<span style="mso-spacerun: yes;"> </span>Now you need to discover how to fit your invention into the marketplace.<span style="mso-spacerun: yes;"> </span>Because you and your invention are unique, finding a good place in the market for your invention is up to you.<span style="mso-spacerun: yes;"> </span>Either learn what to do or pay others for what they know.<span style="mso-spacerun: yes;"> </span>Stephen Key, through his company, <a href="https://www.inventright.com/what-we-offer/ir-academy">InventRight</a>, offers free education and paid coaching on what to do.<span style="mso-spacerun: yes;"> </span><a href="https://steveblank.com/">Steve Blank</a> offers free education on how to start a small business.<span style="mso-spacerun: yes;"> </span>Our blog lists additional resources.<span style="mso-spacerun: yes;"> </span>In general, don’t rely on invention companies; most give you no return on your investment.</span></div>
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<br /></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Make your invention interesting to make others (investors, partners, customers) part of your story.<span style="mso-spacerun: yes;"> </span>Some innovators patent their inventions or prevent others from doing so, other innovators forego patents and only build public awareness of their inventions.<span style="mso-spacerun: yes;"> </span>Some innovators sell their inventions or license their inventions in exchange for a royalty of 5% of wholesale, others start their own businesses to sell embodiments of their inventions.<span style="mso-spacerun: yes;"> </span>Some must cross‑license their inventions to gain the right to make, use, and sell them.<span style="mso-spacerun: yes;"> </span>As with most business, negotiation is a must.</span></div>
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<br /></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">To learn more, please join us at our monthly meetings and tap into Mr. Zedonis’ extensive knowledge and experience.</span></div>
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<br /></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Thank you, Mr. Zedonis, for sharing your expertise and enthusiasm with us!</span></div>
Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8842075329151487950.post-54039423976416953652018-12-27T02:51:00.002-05:002024-03-18T05:11:59.026-04:00December 2018
<div style="margin-bottom: .0001pt; margin: 0in;">
<b><span style="font-family: sans-serif;">Kenton Brett</span></b><span style="font-family: sans-serif;"> (granted 15 U.S. patents, see bottom of this page) displayed one of his inventions for K-5 math education and shared insights he gained from his years of innovation.</span></div>
<div style="margin-bottom: .0001pt; margin: 0in;">
<br /></div>
<div style="margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .25in; margin-right: 0in; margin-top: 0in;">
<span style="font-family: sans-serif;">Innovation takes a lot of time and money, always more than you expect.</span></div>
<div style="margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .25in; margin-right: 0in; margin-top: 0in;">
<br /></div>
<div style="margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .25in; margin-right: 0in; margin-top: 0in;">
<span style="font-family: sans-serif;">You can make things happen by sticking with an inventive project.</span></div>
<div style="margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .25in; margin-right: 0in; margin-top: 0in;">
<br /></div>
<div style="margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .25in; margin-right: 0in; margin-top: 0in;">
<span style="font-family: sans-serif;">If you think of a good idea, someone else will think of it too. So get to the patent office and to the market first.</span></div>
<div style="margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .25in; margin-right: 0in; margin-top: 0in;">
<br /></div>
<div style="margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .25in; margin-right: 0in; margin-top: 0in;">
<span style="font-family: sans-serif;">Get unbiased validation of your idea before you spend a lot of time and money on it.</span></div>
<div style="margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .25in; margin-right: 0in; margin-top: 0in;">
<br /></div>
<div style="margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .25in; margin-right: 0in; margin-top: 0in;">
<span style="font-family: sans-serif;">You can sell just an idea, but rarely.</span></div>
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<br /></div>
<div style="margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .25in; margin-right: 0in; margin-top: 0in;">
<span style="font-family: sans-serif;">You can get compensated for infringement of your patent by a big company. License or sell your invention to a mid-sized company that will actively seek compensation from the big company.</span></div>
<div style="margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .25in; margin-right: 0in; margin-top: 0in;">
<br /></div>
<div style="margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .25in; margin-right: 0in; margin-top: 0in;">
<span style="font-family: sans-serif;">Get a recommendation from your potential customers.</span></div>
<div style="margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .25in; margin-right: 0in; margin-top: 0in;">
<br /></div>
<div style="margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .25in; margin-right: 0in; margin-top: 0in;">
<span style="font-family: sans-serif;">Focus on your core idea to get a cash flow that can fund the rest of your ideas.</span></div>
<div style="margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .25in; margin-right: 0in; margin-top: 0in;">
<br /></div>
<div style="margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .25in; margin-right: 0in; margin-top: 0in;">
<span style="font-family: sans-serif;">Thank you for sharing your experience with us, Mr. Brett!</span></div>
Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8842075329151487950.post-80629499199704254242018-10-24T06:24:00.002-04:002024-03-18T05:11:59.405-04:00October 2018<!--[if gte mso 9]><xml>
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<br />
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<span style="font-family: Arial, Helvetica, sans-serif;"><b style="mso-bidi-font-weight: normal;">Michael Stokes</b>
(CEO, <a href="http://www.waveformcommunication.com/index.htm">Waveform
Communications</a>; author, <i style="mso-bidi-font-style: normal;"><a href="http://www.universal-publishers.com/book.php?method=ISBN&book=1599428881">The
Waveform Model of Vowel Perception and Production</a></i>) summarized his
progress since <a href="http://indianainventorsassociation.blogspot.com/search?q=stokes">2012</a>
in developing a method of using <a href="https://www.youtube.com/watch?v=Gg4IHbiITd0">waveforms and spectrograms</a>
to identify vowels in human speech.</span></div>
<span style="font-family: Arial, Helvetica, sans-serif;">
</span><div class="MsoNormal">
<br /></div>
<span style="font-family: Arial, Helvetica, sans-serif;">
</span><div class="MsoNormal">
<span style="font-family: Arial, Helvetica, sans-serif;">Mr. Stokes’ model is currently the best for describing how
people recognize spoken vowels.<span style="mso-spacerun: yes;"> </span>A
distinct set of vowels characterizes each language.<span style="mso-spacerun: yes;"> </span>For example, English has ten vowels, Spanish
five.<span style="mso-spacerun: yes;"> </span>Each vowel of a language has a characteristic
sound that underlies all dialects and individual pronunciations.<span style="mso-spacerun: yes;"> </span>That characteristic sound can be visualized
as spectrograms of three sound wave frequencies.<span style="mso-spacerun: yes;"> </span>Although unpatentable as is (patent
applications <a href="http://www.freepatentsonline.com/y2014/0207456.html">14/223304</a>
and <a href="http://www.freepatentsonline.com/y2012/0078625.html">13/241780</a>),
a computer program (Elbow) based on the model accurately predicts spoken vowels
from observations of the spectrograms.<span style="mso-spacerun: yes;"> </span>A
second program (Cobweb), especially useful to athletes, uses speech patterns to
diagnose concussions in real time.</span></div>
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</span><div class="MsoNormal">
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<span style="font-family: Arial, Helvetica, sans-serif;">
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<span style="font-family: Arial, Helvetica, sans-serif;">The model can be used to rapidly improve speech.<span style="mso-spacerun: yes;"> </span>Mr. Stokes analyzes spectrograms of someone
whose speech has been impaired by a stroke or by postoperative delirium or who
is learning English as a second language.<span style="mso-spacerun: yes;">
</span>Then he coaches the person on how to change the way s/he moves lips,
tongue, and jaw to pronounce vowels correctly.</span></div>
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</span><div class="MsoNormal">
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<span style="font-family: Arial, Helvetica, sans-serif;">
</span><div class="MsoNormal">
<span style="font-family: Arial, Helvetica, sans-serif;">This model might also contribute to cross-species communication.<span style="mso-spacerun: yes;"> </span>Humpback whales speak with vowels.<span style="mso-spacerun: yes;"> </span>Learning how to pronounce their language(s)
might help people learn how to warn them of the danger of approaching ships.</span></div>
<span style="font-family: Arial, Helvetica, sans-serif;">
</span><div class="MsoNormal">
<br /></div>
<span style="font-family: Arial, Helvetica, sans-serif;">
</span><div class="MsoNormal">
<span style="font-family: Arial, Helvetica, sans-serif;">Thank you, Mr. Stokes, for sharing your interesting model
with us!</span></div>
Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8842075329151487950.post-46289239511952178172018-09-07T19:54:00.004-04:002024-03-18T05:11:59.784-04:00September 2018<!--[if gte mso 9]><xml>
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<br />
<div class="MsoNormal">
<span face=""arial" , "helvetica" , sans-serif"><i style="mso-bidi-font-style: normal;"><span style="color: blue;">I knew that a country without a patent office and good
patent laws was just a crab, and couldn't travel any way but sideways or
backways.</span></i><span style="color: blue;"></span></span></div>
<div class="MsoNormal" style="margin-left: 0.25in;">
<span face=""arial" , "helvetica" , sans-serif">—Mark Twain, <i style="mso-bidi-font-style: normal;">A Connecticut Yankee in King Arthur’s Court</i></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span face=""arial" , "helvetica" , sans-serif">A patent helps to secure a place in the market for an
invention.<span style="mso-spacerun: yes;"> </span>That is why many inventors
take time, make an effort, and pay a significant amount of money to patent
their inventions.</span></div>
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<br /></div>
<div class="MsoNormal">
<span face=""arial" , "helvetica" , sans-serif">Inventors often do not realize that grant of a U.S.
patent is always conditional.<span style="mso-spacerun: yes;"> </span>Like
everyone else, patent examiners make mistakes.<span style="mso-spacerun: yes;">
</span>The patent office (Patent Trial and Appeal Board (PTAB)) or a federal court
can decide at any time during the life of a patent that the patent should never
have been granted.<span style="mso-spacerun: yes;"> </span>The result is an
invalidated patent that provides no benefit to the patent owner.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span face=""arial" , "helvetica" , sans-serif">Truth is often hard to ascertain and reasonable individuals
can disagree on what the truth is.<span style="mso-spacerun: yes;"> </span>Does
our current patent system provide enough certainty for individual inventors and
investors to risk innovation?<span style="mso-spacerun: yes;"> </span>The recent
documentary film, <i style="mso-bidi-font-style: normal;">Invalidated: The Shredding of
the U.S. Patent System</i>, says no.<span style="mso-spacerun: yes;">
</span>The movie argues that the patent office acts with intentional bias against
individual inventors and that the office rationalizes, rather than justifies,
its final decisions.<span style="mso-spacerun: yes;"> </span>The <i><a href="https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=12&ved=2ahUKEwjV2ruY2KjdAhUHlKwKHRLDCA0QFjALegQIBxAC&url=https%3A%2F%2Fwww.uspto.gov%2Fsites%2Fdefault%2Ffiles%2Faia_implementation%2F20110916-pub-l112-29.pdf&usg=AOvVaw2gaB_A1rn3XQIJze5OCm3s">America
Invents Act</a></i> (2011) encourages patent infringement and has significantly
weakened our patent system and Constitutional protection of private property.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span face=""arial" , "helvetica" , sans-serif">One focus of this movie is Josh Malone.<span style="mso-spacerun: yes;"> </span>He invented and obtained patents for a system
and method for quickly filling water balloons (U.S. patents <a href="https://patents.google.com/patent/US9051066B1/en?oq=9051066">9051066</a>,
<a href="https://patents.google.com/patent/US9242749B2/en?oq=9242749">9242749</a>,
<a href="https://patents.google.com/patent/US9950817B2/en?oq=9950817">9950817</a>,
<a href="https://patents.google.com/patent/US9527612B2/en?oq=9527612">9527612</a>,
<a href="https://patents.google.com/patent/US9315282B2/en?oq=9315282">9315282</a>,
<a href="https://patents.google.com/patent/US9682789B2/en?oq=9682789">9682789</a>,
and <a href="https://patents.google.com/patent/US9533779B2/en?oq=9533779">9533779</a>).<span style="mso-spacerun: yes;"> </span>A company, Telebrands, immediately marketed a
product very similar to Mr. Malone’s.<span style="mso-spacerun: yes;"> </span>A <a href="http://www.ipwatchdog.com/wp-content/uploads/2017/12/ZURU-jury-verdict.pdf">federal
court</a> told Telebrands to stop infringing Mr. Malone’s patents and awarded
his partner company $12 M in damages.<span style="mso-spacerun: yes;"> </span><a href="http://www.ipwatchdog.com/wp-content/uploads/2017/09/Tinnus-PGR-decision.pdf">PTAB</a>
said that the federal court was wrong because several of the claims in Mr.
Malone’s first patent were indefinite and therefore invalid.<span style="mso-spacerun: yes;"> </span>This year, the <a href="http://www.cafc.uscourts.gov/sites/default/files/opinions-orders/17-1726.Opinion.5-29-2018.1.pdf">U.S.
Court of Appeals for the Federal Circuit</a> (CAFC) told PTAB that it was
wrong because the claims were definite and asked PTAB to decide instead whether
some of the claims were invalid because they may have been obvious to a person of
ordinary skill in that technology.<span style="mso-spacerun: yes;">
</span>(Remember, Mr. Malone and his partner companies are paying huge legal
fees throughout all of this.)<span style="mso-spacerun: yes;"> </span>Who knows
what the final result will be.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span face=""arial" , "helvetica" , sans-serif">Attempts are being made to rebalance our patent system, for
example <a href="https://www.congress.gov/115/bills/hr6557/BILLS-115hr6557ih.pdf">HR6557</a>
and <a href="https://www.congress.gov/115/bills/hr6264/BILLS-115hr6264ih.pdf">HR
6264</a>.<span style="mso-spacerun: yes;"> </span>Individual inventors would
benefit from the proposed changes.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span face=""arial" , "helvetica" , sans-serif">Many thanks to Dave Zedonis
and Matt Thie for showing the movie to us!</span></div>
Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8842075329151487950.post-86143730006039764882018-08-29T04:32:00.003-04:002024-03-18T05:12:00.221-04:00August 2018<!--[if gte mso 9]><xml>
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<br />
<div class="MsoNormal">
<span style="font-family: Arial, Helvetica, sans-serif;">Need help with designing or with building a prototype of
your invention?<span style="mso-spacerun: yes;"> </span>Or with preparing drawings for a
patent application?</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: Arial, Helvetica, sans-serif;"></span></div>
<div class="MsoNormal">
<span style="font-family: Arial, Helvetica, sans-serif;"></span></div>
<div class="MsoNormal">
<span style="font-family: Arial, Helvetica, sans-serif;"><span style="mso-spacerun: yes;"></span><b>Wade Stallings</b>
(owner, <a href="https://www.etsy.com/shop/D3DTechnologies">D3DTechnologies</a>;
(463) 201-1777, <a href="mailto:d3dtechnologies@gmail.com" title="blocked::mailto:d3dtechnologies@gmail.com">d3dtechnologies@gmail.com</a>)
in Indianapolis
can help.<span style="mso-spacerun: yes;"> </span>Using computer-aided design (SolidWorks
and other CAD software) and 3-D printing with hard plastics (0.02 mm tolerances,
each part as big as 8 inches high with a 7 inch x 7 inch base), Mr. Stallings (a
recent graduate of Rose-Hulman Institute of Technology) provides these services
for $60/hour, usually with a maximum of 4 hours/project.<span style="mso-spacerun: yes;"> </span>The total price of a project depends on the
time/project and on the type and amount of plastic used in building a
prototype.<span style="mso-spacerun: yes;"> </span>Included in the price are a confidentiality agreement, all
project files (CAD, pdf, etc.), and assignment of any and all patent rights to
the client.</span></div>
Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8842075329151487950.post-17536603587427665712018-06-27T06:03:00.004-04:002024-03-18T05:12:00.598-04:00June 2018<!--[if gte mso 9]><xml>
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<br />
<div class="MsoNormal">
<span style="font-family: "arial" , "helvetica" , sans-serif;">Need help with product development?<span style="mso-spacerun: yes;"> </span><b style="mso-bidi-font-weight: normal;">Troy
Mason</b> (president, CEO, <a href="http://www.impulseproductdevelopment.com/">Impulse
Product Development</a>) has some good advice.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: "arial" , "helvetica" , sans-serif;">It’s hard to develop a popular product.<span style="mso-spacerun: yes;"> </span>Start by setting a realistic goal for your
invention.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal" style="margin-left: .25in;">
<span style="font-family: "arial" , "helvetica" , sans-serif;">Before your spend a lot of time
and effort bringing your product to market, do some high quality customer
research to see if forecasted sales meet your needs.<span style="mso-spacerun: yes;"> </span>Your product might become a best-seller, but
there won’t be one in every household.</span></div>
<div class="MsoNormal" style="margin-left: .25in;">
<br /></div>
<div class="MsoNormal" style="margin-left: .25in;">
<span style="font-family: "arial" , "helvetica" , sans-serif;">Product development doesn’t start
with a prototype.<span style="mso-spacerun: yes;"> </span>Maybe you will
eventually need a physical prototype, maybe you won’t.<span style="mso-spacerun: yes;"> </span>The essence of some products can be displayed
in a drawing or virtual prototype.<span style="mso-spacerun: yes;"> </span>If
you need a prototype, especially to test your product’s function as its design
evolves, realize that the first prototype is never the last.<span style="mso-spacerun: yes;"> </span>Professional help with prototyping is
available, for example at <a href="http://realizeinc.com/">Realize, Inc</a>.</span></div>
<div class="MsoNormal" style="margin-left: .25in;">
<br /></div>
<div class="MsoNormal" style="margin-left: .25in;">
<span style="font-family: "arial" , "helvetica" , sans-serif;">Product development can be expensive.<span style="mso-spacerun: yes;"> </span>Before you decide to develop a product,
estimate the total cost of doing so to see if you can afford it.<span style="mso-spacerun: yes;"> </span>Mr. Mason’s company charges $150 per hour for
design.<span style="mso-spacerun: yes;"> </span>A patent typically costs at
least $10,000.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: "arial" , "helvetica" , sans-serif;">If you decide that you need a patent, file a nonprovisional
patent application only after you have a good idea of what your marketed
product will be.<span style="mso-spacerun: yes;"> </span>The general design of
the product should be final, but you don’t need to know all of the details (amendment
or addition of a <a href="https://books.google.com/books?id=WvpuGlMVg-QC&pg=PA112&lpg=PA112&dq=%22picture+claim%22&source=bl&ots=EPUunx845K&sig=k1jVZP0xUvL3aM6FqIVWv6i5d0Q&hl=en&sa=X&ved=0ahUKEwjvooqbxPPbAhVBF6wKHVDPAV0Q6AEIazAP#v=onepage&q=%22picture%20claim%22&f=false">picture
claim</a> in a well-written application during patent prosecution can take care
of that).<span style="mso-spacerun: yes;"> </span>In the meantime, filing one or
more provisional patent applications can help secure your place as the <a href="https://www.uspto.gov/learning-and-resources/newsletter/inventors-eye/first-inventor-file-here-learn-how-it-works">first
inventor-to-file</a> (a requirement for getting a patent).<span style="mso-spacerun: yes;"> </span>Remember that if a product developer (such as
Mr. Mason) invents a claimed feature of your invention, your patent application
must list the developer as an inventor.<span style="mso-spacerun: yes;">
</span>(Inventing means thinking of something new and nonobvious that is beyond the ordinary skill of someone working in the technology of your
invention.) </span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: "arial" , "helvetica" , sans-serif;">Spend at least half of your time and effort on learning how
business works.<span style="mso-spacerun: yes;"> </span>How will your product
fit into the market?<span style="mso-spacerun: yes;"> </span>Which business
partners will you need?<span style="mso-spacerun: yes;"> </span>Will bringing
your invention to market be profitable?<span style="mso-spacerun: yes;">
</span>Inventing is only a small part of innovating.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: "arial" , "helvetica" , sans-serif;">Thank you for sharing your expertise with us, Mr. Mason!</span></div>
Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8842075329151487950.post-52546588640935630232018-04-01T04:48:00.003-04:002024-03-18T05:12:00.976-04:00March 2018<!--[if gte mso 9]><xml>
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<br />
<div class="MsoNormal">
<span face="Arial, Helvetica, sans-serif"><span style="color: blue;">I am strong!<span style="mso-spacerun: yes;"> </span>And now, I am <i>smart.</i></span></span></div>
<span face="Arial, Helvetica, sans-serif">
</span><div class="MsoNormal">
<span face="Arial, Helvetica, sans-serif"><span style="color: blue; mso-bidi-font-style: italic;">—<a href="https://www.youtube.com/watch?v=-FotYss3fRo">The Hominids</a> (Saturday
Night Live, 1979)</span></span></div>
<span face="Arial, Helvetica, sans-serif">
</span><div class="MsoNormal">
<br /></div>
<span face="Arial, Helvetica, sans-serif">
</span><div class="MsoNormal">
<span face="Arial, Helvetica, sans-serif">The ability to adapt nature to our needs is a remarkable and
inventive talent.<span style="mso-spacerun: yes;"> </span>If you want to use
that talent to earn a living, it helps to be able to adapt human nature to your
needs.</span></div>
<span face="Arial, Helvetica, sans-serif">
</span><div class="MsoNormal">
<br /></div>
<span face="Arial, Helvetica, sans-serif">
</span><div class="MsoNormal">
<span face="Arial, Helvetica, sans-serif">Matt told us about how he and four other engineers founded a
company on a shoestring budget in their spare time.<span style="mso-spacerun: yes;"> </span>The co-founders got along so well with each
other that the attorney preparing the founding legal documents empowered the
company instead of the co-founders.<span style="mso-spacerun: yes;"> </span>All were
equal partners and all had inventive talent but the company had nothing to sell.
<span style="mso-spacerun: yes;"> </span>Matt soon invented a marketable product
that benefitted small businesses and that became the focus of the company.<span style="mso-spacerun: yes;"> </span>He applied for a patent and, being the team
player that he was, unconditionally assigned the patent rights to the company.<span style="mso-spacerun: yes;"> </span>Customers liked the product and prospects
looked so good that the company decided to sell stock to get money to
manufacture 200 of the product.<span style="mso-spacerun: yes;">
</span>Investors instantly provided $250,000.<span style="mso-spacerun: yes;">
</span>The government granted the patent.<span style="mso-spacerun: yes;">
</span>And everyone lived happily ever after?<span style="mso-spacerun: yes;">
</span>No.</span></div>
<span face="Arial, Helvetica, sans-serif">
</span><div class="MsoNormal">
<br /></div>
<span face="Arial, Helvetica, sans-serif">
</span><div class="MsoNormal">
<span face="Arial, Helvetica, sans-serif">The day after the patent issued and became the property of
the company, most of the co‑founders voted to oust Matt from the company.<span style="mso-spacerun: yes;"> </span>Soon after, only two co-founders remained.</span></div>
<span face="Arial, Helvetica, sans-serif">
</span><div class="MsoNormal">
<br /></div>
<span face="Arial, Helvetica, sans-serif">
</span><div class="MsoNormal">
<span face="Arial, Helvetica, sans-serif">Like <a href="http://aesop.pangyre.org/fable/the-lion-and-the-eagle.html">Aesop</a>
says, try before you trust.<span style="mso-spacerun: yes;"> </span>The attorney
should have empowered all of the individual co-founders instead of the
company.<span style="mso-spacerun: yes;"> </span>A <a href="https://dictionary.translegal.com/en-US/golden-parachute-clause/noun?to=en-US">goldenparachute clause</a> could have protected Matt from loss of his invention by
causing the patent rights to revert to him if he were fired.<span style="mso-spacerun: yes;"> </span>A little caution can go a long way.</span></div>
<span face="Arial, Helvetica, sans-serif">
</span><div class="MsoNormal">
<br /></div>
<span face="Arial, Helvetica, sans-serif">
</span><div class="MsoNormal">
<span face="Arial, Helvetica, sans-serif">Thank you, Matt, for sharing this valuable lesson with us.</span></div>
Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8842075329151487950.post-47106104986028937632018-02-22T15:04:00.006-05:002024-03-18T05:12:01.353-04:00February 2018<!--[if gte mso 9]><xml>
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<br />
<div class="MsoNormal" style="text-align: left;">
<span style="color: blue;"><span face=""arial" , "helvetica" , sans-serif"><i style="mso-bidi-font-style: normal;">Measure twice, cut once.</i></span></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span face=""arial" , "helvetica" , sans-serif">Common sense tells us to test the water before jumping in.<span style="mso-spacerun: yes;"> </span>Inventors need to know who their customers
are and what their customers want before spending a lot of time and money on
inventing things/services and bringing them to market.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span face=""arial" , "helvetica" , sans-serif"><b><a href="https://hub.kelley.iupui.edu/news/_news/kelley-indianapolis-welcomes-five-new-faculty-members.html">Helen
Colby, PhD</a></b>, (assistant professor of marketing, Indiana University Kelley School of
Business) treated us to her insights on how an individual on a limited budget
can conduct high quality customer research.<span style="mso-spacerun: yes;">
</span>This brief summary of her presentation doesn’t begin to contain all of
her excellent advice.<span style="mso-spacerun: yes;"> </span>To learn more,
talk with someone who was there.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span face=""arial" , "helvetica" , sans-serif">When should you do customer research?<span style="mso-spacerun: yes;"> </span>Whenever the benefit is greater than the
cost.<span style="mso-spacerun: yes;"> </span>Customer research can answer
questions about any aspect of marketing that is important to you (eg, what to
invent, what to sell, where and when to sell it, how to advertize it, how much
to charge for it).</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span face=""arial" , "helvetica" , sans-serif">How do you conduct research?<span style="mso-spacerun: yes;">
</span>First and most important, ask one specific question to which you can
find a clear, complete,<span style="mso-spacerun: yes;"> </span>and meaningful answer.<span style="mso-spacerun: yes;"> </span>Think hard about this question.<span style="mso-spacerun: yes;"> </span>If you ask a defective question, you will get
a defective answer.<span style="mso-spacerun: yes;"> </span>Check with your
business partners (eg, customers, investors, licensing companies,
manufacturers) to make sure the answer to this question will be helpful.<span style="mso-spacerun: yes;"> </span>Don’t ask customers a question that they can’t
understand or don’t want to answer truthfully.<span style="mso-spacerun: yes;">
</span>If you want investors, don’t ask a question that won’t help them decide
whether to invest in your business.</span></div>
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<span face=""arial" , "helvetica" , sans-serif">Then go to the library (eg, the IUPUI university <a href="https://ulib.iupui.edu/">library</a>) and ask a business librarian to
help you find information that helps to answer your question.<span style="mso-spacerun: yes;"> </span>Meaningful numbers can be especially
persuasive to potential investors and licensees.<span style="mso-spacerun: yes;"> </span>Look at records (such as databases) that show
industry trends and the traits of various customer groups (eg, age, buying
habits, gender, how far people are willing to travel to buy something, income,
location).<span style="mso-spacerun: yes;"> </span>Search <a href="https://scholar.google.com/">Google Scholar</a> for original studies that
relate to your question (be sure to read the original study, not someone’s
summary of it).</span></div>
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<span face=""arial" , "helvetica" , sans-serif">Once you know the state of the market, start your own
research.<span style="mso-spacerun: yes;"> </span>Learn the best way </span><span face=""arial" , "helvetica" , sans-serif"><span face=""arial" , "helvetica" , sans-serif">(eg, mail survey or mall survey) </span>to reach the
right customers and ask them to answer your
question.<span style="mso-spacerun: yes;"> </span>Don’t ask a secretary if the
boss makes all of the buying decisions.<span style="mso-spacerun: yes;"> </span>Many
things can bias customer answers, if customers answer at all: attempts to be
kind to you, order of survey questions, self-image, time of day, wording of a question,
etc.<span style="mso-spacerun: yes;"> </span>You can’t eliminate all bias, but
try to eliminate forms that most strongly interfere with answering your
question.<span style="mso-spacerun: yes;"> </span>For example, if you want to
know how people like to get news, don’t post your question on a newspaper’s
internet site; most respondents will prefer news on the internet.<span style="mso-spacerun: yes;"> </span>The last question of every survey should be:
“Is there anything else you want to tell me?”.</span></div>
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<span face=""arial" , "helvetica" , sans-serif">You can start small with one or more pilot studies that test
your methods and tools before you do your main study.<span style="mso-spacerun: yes;"> </span>You might post a survey or ask for customer
comments on a free <a href="https://www.google.com/business/how-it-works/website/">Google website</a>
or on <a href="https://www.surveymonkey.com/">SurveyMonkey</a>.<span style="mso-spacerun: yes;"> </span><a href="https://www.mturk.com/">Amazon
Mechanical Turk</a> provides a way to quickly survey a good cross section of
potential customers for about $75.<span style="mso-spacerun: yes;"> </span><a href="https://www.qualtrics.com/">Qualtrics</a>, <a href="https://www.facebook.com/login/?next=https%3A%2F%2Fwww.facebook.com%2Femtrics%2F">Emtrics</a>, or <a href="https://www.surveysampling.com/">Survey Sampling International</a>
provide a similar service.</span></div>
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<span face=""arial" , "helvetica" , sans-serif">If you decide to hire a professional trend spotter or a company
that does research for you, insist that they give you what you need.<span style="mso-spacerun: yes;"> </span>Consider writing a survey yourself.<span style="mso-spacerun: yes;"> </span>Get the raw data and original transcripts of
interviews so you can analyze them yourself.</span></div>
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<span face=""arial" , "helvetica" , sans-serif">What might customer research look like for someone who is
thinking about selling cupcakes in a particular geographic area?<span style="mso-spacerun: yes;"> </span>The research question might be: Can this area
support my business?<span style="mso-spacerun: yes;"> </span>Existing research
on the state of the market, found in databases (such as <a href="http://libguides.lib.msu.edu/choices3">Simmons OneView</a>) at the IUPUI
library, shows how many cupcake sellers are in the area, who they are, and how
much money customers spend on cupcakes there.<span style="mso-spacerun: yes;">
</span>New research using Qualtrics or Amazon Mechanical Turk might show that most
customers would prefer a new business that is kid-friendly over existing
businesses in the area.<span style="mso-spacerun: yes;"> </span>Trips to shops
in the area would provide an estimate of what pricing should be.<span style="mso-spacerun: yes;"> </span>All of this information could be used to
develop a realistic value proposition and model of a successful business, which
could be tested in a focus group and presented in a business plan to potential investors.</span></div>
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<span face=""arial" , "helvetica" , sans-serif">Thank you, Ms. Colby, for sharing your invaluable insights
with us!</span></div>
Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8842075329151487950.post-7763029878473978362017-12-30T07:19:00.002-05:002024-03-18T05:12:01.731-04:00December 2017<!--[if gte mso 9]><xml>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b style="mso-bidi-font-weight: normal;"><a href="https://indianapolis.score.org/">SCORE Indianapolis</a></b> mentors <b style="mso-bidi-font-weight: normal;"><a href="https://www.linkedin.com/in/billpetrovic/">Bill Petrovic</a></b> (retired
vice president and treasurer, Roche Diagnostics) and <b style="mso-bidi-font-weight: normal;"><a href="https://www.score.org/mentors/steve-click">Steve Click</a></b>
(retired national sales manager and DigiNet manager, WTHR) dazzled us with a
description of all that SCORE (Service Corps Of Retired Executives, a nonprofit
organization supported by the U.S. Small Business Administration) provides.<span style="mso-spacerun: yes;"> </span>Entrepreneurs and small businesses with all
levels of business experience benefit from expert advice given through</span><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif;"> confidential </span>
individual mentoring, group workshops, and a well‑stocked, vetted library—for
free or low cost. </span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The 45 mentors at SCORE Indianapolis (including a retired patent
attorney) point a variety of people in the right direction.<span style="mso-spacerun: yes;"> </span>Someone thinking about starting a business is
shown how to focus on the appropriate sequence of essentials, how to develop a
successful business model, how to find customers, how to raise startup money,
and how to develop an exit strategy (based on a positive brand, loyal
employees, and loyal customers).<span style="mso-spacerun: yes;"> </span>A
mature business receives help with problems related to human resources (eg, how
many employees should there be), a supply chain (eg, should manufacturing be
done in China),
and intellectual property (eg, is a patent worth its cost).<span style="mso-spacerun: yes;"> </span>A business owner can bounce ideas off an
expert.<span style="mso-spacerun: yes;"> </span><a href="https://www.score.org/find-mentor">Search</a> nationwide for SCORE
mentors who have the particular expertise you need.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">SCORE mentors often recommend using the <a href="https://www.udacity.com/course/how-to-build-a-startup--ep245">lean startup</a>
method to build a business.<span style="mso-spacerun: yes;"> </span>Step 1 is developing
a <a href="https://www.youtube.com/watch?v=D254suPMpwY">value proposition</a>,
a description of all features and benefits of your product or service that will
induce customers to buy it.<span style="mso-spacerun: yes;"> </span>You must
have something to sell that solves a problem and that customers are willing to
buy at a profitable price.<span style="mso-spacerun: yes;"> </span>To find out
what that something is, you need to figure out who your potential customers are
and talk with them to learn what they want.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">To develop a value proposition, start with a learning tool
called a <a href="http://www.startuplessonslearned.com/2009/08/minimum-viable-product-guide.html">minimally
viable product</a>.<span style="mso-spacerun: yes;"> </span>See how potential
customers (at least 100) react to one simple product/service that solves one
simple part of a bigger problem.<span style="mso-spacerun: yes;"> </span>If they
aren’t interested in the problem, either find different potential customers who
are interested in the problem or else invent something that solves a different problem
that does interest them.<span style="mso-spacerun: yes;"> </span>If they are
interested in the problem, ask what they like and don’t like about your
product/service.<span style="mso-spacerun: yes;"> </span>Ask them to buy this
product/service as is and see how much they will actually pay.<span style="mso-spacerun: yes;"> </span>Then go back to the drawing board and adapt
your invention to what they want.<span style="mso-spacerun: yes;"> </span>Repeat
this process until you have something that your potential customers really like.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Ask what the <a href="https://www.youtube.com/watch?v=6Brw4B33Jyo">price</a> of that
product/service should be.<span style="mso-spacerun: yes;"> </span>The market
decides how much customers will pay (although there are <a href="http://www.nbcnews.com/id/38980367/ns/business-us_business/t/how-apple-plays-pricing-game/">ways</a>
to change the market).<span style="mso-spacerun: yes;"> </span>The price could
vary seasonally or from year to year.<span style="mso-spacerun: yes;"> </span>Identify
who will pay, who will influence others to buy, and what your selling channel
(eg, in-person or internet) will be.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Then worry about costs.<span style="mso-spacerun: yes;">
</span>Can you manufacture and distribute your product/service for less than
the selling price?<span style="mso-spacerun: yes;"> </span>Can you sell enough
to make the amount of profit you want?<span style="mso-spacerun: yes;">
</span>If you like the answers to those questions, you are on your way to
starting a successful business.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">SCORE needs mentors who are familiar with inventing.<span style="mso-spacerun: yes;"> </span>If you would like to become a mentor, please
contact Mr. Click (<a href="mailto:indyscore@gmail.com">indyscore@gmail.com</a>).</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Thank you, Mr. Petrovic and Mr. Click, for helping the
business community create jobs and for sharing your extensive expertise with
us!</span></div>
Unknownnoreply@blogger.com