Today's Date: September 17, 2014 Search | Home | Contact | Services | Patent Attorney | Patent Search | Provisional Patent Application | Patent Application | Software Patent | Confidentiality Agreements

Posts Tagged ‘ funding innovation ’

Choices for Inventors Needing to Raise Money: Sources of Capital

Posted: Saturday, Nov 2, 2013 @ 9:05 am | Written by Michael Lewis | 2 comments
| Tags: , , , ,
Posted in: Educational Information for Inventors, Guest Contributors, Inventors Information, IP News, Articles

As the girl in the fairy tale ruefully remarked, “You have to kiss a lot of toads to find a prince!” Raising capital is not much different and is often a difficult, tedious, and frustrating process.

Common sources of capital worth pursuing include the following:

1. Potential Competitors

Companies within the same industry which will be affected by the introduction of the new invention are potential investors. Technology and software companies frequently buy small rivals solely to acquire innovative products. Since 2001, Google has acquired 127 companies, many of which were start-ups whose only asset was protected software. However, inventors approaching their potential rivals should do the following:

  • be confident that their intellectual property is fully protected and cannot be duplicated
  • understand that potential competitors will be fore-warned of a new, potentially market-disruptive product and take strategic moves to blunt the market effect
  • insist on a fixed schedule of deadlines and actions to take the product to market within a specific time frame

Choices for Inventors: Commercial Possibilities of Invention

Posted: Friday, Oct 25, 2013 @ 1:40 pm | Written by Michael Lewis | 1 Comment »
| Tags: , , , , , ,
Posted in: Business, Educational Information for Inventors, Guest Contributors, Inventors Information, IP News, Articles

Your quest is finally complete. After hundreds of hours of effort, thousands of dollars, and innumerable worries of failure, you’ve finally succeeded. Your idea has become a reality, with riches and fame just around the corner. With the hard work done – envisioning, developing, and protecting your invention – you approach potential investors and buyers for capital to manufacture and sell your product. In the process, you discover one or more of the following:

  • the majority of people don’t understand the value of your invention or have no interest in it
  • some claim it is their idea
  • others try to steal it
  • those who see its potential want to pay a pittance for the product and leave you standing on the sidelines

Such is life for an inventor. From the years 2002 to 2012, more than 4.6 million patent applications were made and 2.2 million patents issued according to the U.S. Patent and Trademark Office. Yet, only a small proportion of the products covered by the issued patents become commercial successes.

Getting Your Invention off of the Ground with Crowdfunding

Posted: Saturday, Jun 29, 2013 @ 9:05 am | Written by Mark Nowotarski | 2 comments
| Tags: , , , , , , , ,
Posted in: Guest Contributors, Inventors Information, IP News, Articles, Mark Nowotarski, Patents, Technology & Innovation

Editor’s Note:  This article originally appeared in IP Watchdog on June 1, 2011.  A lot has happened since then.  Herewith is the 2013 update.  The original version can still be found at Funding Your Invention: Get Started with Crowdfunding

–  –  –  –  –  –  –  –  –

Crowdfunding is a proven way to get initial funding for the commercialization of an invention.  Crowdfunding involves posting a project description on the internet, asking for pledges to complete the project, and if the minimum amount of pledges is received by a certain deadline, having the funds transferred to the project.  On some sites, such as, if the minimum isn’t reached, you don’t get any money.  On other sites, such as, if the minimum isn’t reached, you still get what you’ve raised.

NASA Challenge Seeks Visionary Technology Concepts to Fund

Posted: Saturday, Jan 19, 2013 @ 9:05 am | Written by NASA | Comments Off
| Tags: , , , , , ,
Posted in: IP News, Articles, NASA, Technology & Innovation

WASHINGTONNASA’s Space Technology Program is looking for visionary advanced concepts. This year’s annual call for NASA’s Innovative Advanced Concepts Program (NIAC) is seeking proposals for revolutionary concepts with the potential to transform future aerospace missions. Proposed concepts should enable new missions or significantly improve current approaches to achieve aerospace objectives.

NIAC studies visionary aerospace architecture, system or mission concepts that are exciting and unexplored, yet credible and executable. The concepts are early in development — generally 10 years or more from operation. They are chosen based on peer review of the potential impact, technical strength and benefits of the proposed study.

“While Goddard or Tsiolkovsky envisioned rockets taking humans to space, the rest of the world focused on the industrial revolution and challenges of the early 20th century,” said Michael Gazarik, director of NASA’s Space Technology Program at the agency’s headquarters in Washington. “These visionaries had radical ideas of space travel and exploration that would take dozens to hundreds of years for maturation, but were worth waiting for. NASA’s NIAC seeks proposals from today’s visionaries who have futuristic concepts that may transform how we live, work and explore the high frontier.”

Forfeiting the Future Over Irrational Fear of Software Patents

Posted: Thursday, Dec 6, 2012 @ 6:00 am | Written by Gene Quinn | 92 comments
| Tags: , , , , , , , , , , , , , ,
Posted in: Anti-patent Nonsense, Gene Quinn, IP News, Articles, Patents, Software, US Economy

Pulling the plug and letting out the baby with the bath water is ridiculous, on that everyone can agree. What people can’t agree on, surprisingly, is selecting a path for the future from the playbook of winning plays. Time and time again any more “do-gooders” seem to want to call plays from the playbook of plays that have never succeeded. In what universe does that make any sense whatsoever? When will they realize that plays that have not worked have failed for a reason? Success is not overdue. Get a grip!

With a firm grasp of some alternate reality, critics of the patent system, and specifically the critics of software patents, would have the United States forfeit the future in favor of something that has never worked. Curtailing patent rights has never worked to produce more innovation anywhere it has been tried. The inconvenient truth is that there is no evidence that a weaker patent system fosters innovation, but there is overwhelming evidence that a strong patent system does foster innovation, leads to growth, investment from abroad and a growing more prosperous economy.  Indeed, weak patent rights virtually guarantee innovation simply won’t happen.

So what is fueling the anti-software patent hatred and ridiculous claims that software patents are somehow evil? It is a particular world-view or ideology that approaches religious zealotry.  It certainly isn’t anything that resembles factual truth or reality.

Getting a Loan with Your Patents

Posted: Thursday, Jun 21, 2012 @ 7:20 am | Written by Mark Nowotarski | 21 comments
| Tags: , , , , , , , , , , ,
Posted in: Business, Guest Contributors, IP News, Articles, Mark Nowotarski, Patent Business & Deals, Patents

Did you know you could secure a business loan with your patent(s)? Many people are unaware that a patent or patent portfolio can be used as collateral to secure a loan, but if you take a look at the assignment records at the USPTO you can see just how common this practice really is.

An assignment indicates who owns an issued patent or pending patent application. They are registered with the USPTO and available for public inspection. There is a special type of assignment called a “security agreement”. A security agreement indicates that a patent owner has used its patents as collateral for a loan. The security agreement says that the lender will get ownership of the patent if the current patent owner defaults on the loan. The security agreement also restricts what the patent owner can do with its patent so that the value of the patent is preserved. A patent owner might be obligated, for example, to pay the maintenance fees for an issued patent. Once the loan is paid off, the security agreement is released. If the loan goes into default, however, the ownership of the patent is transferred to the lender.

Patent Strategy: Laying the Foundation for Business Success

Posted: Sunday, Apr 8, 2012 @ 4:44 pm | Written by Gene Quinn | 7 comments
| Tags: , , , , , , , , , , , , , ,
Posted in: Business, Educational Information for Inventors, Gene Quinn, Inventors Information, IP News, Articles, Patent Basics, Patent Business & Deals, Patents

All too often inventors and entrepreneurs spend so much time creating that they have their head down, plowing forward, focusing only on the day to day operations associated with inventing and growing a business. Almost without fail, inventors know very well what they have invented and what they plan to do, but they have a terrible sense of what their invention could be. Just the other day I had a conversation with an inventor who thought we might not be understanding his invention because the first draft of the patent application seemed to miss the simplicity of his invention. Our job as patent attorneys is to not only try and protect the invention presented, but to work with the inventor to figure out the full glory of what the invention could be and what it could evolve into.

A patent application should certainly protect what the inventor is doing and what they want to do, but remember that in order to get a patent you do not have to produce a working prototype. You just need to be able to explain the invention with sufficient detail so that others skilled in the relevant technology area could both make and use the invention themselves without having to engage in undue experimentation. What is “undue experimentation” is a topic for another day, but suffice it to say that invariably what the “invention” is from a patent perspective is much broader than what an inventor thinks they have, and that is one critical reason (among many) why if you can afford to hire a patent attorney or patent agent you are always going to be better served by doing so and will wind up with much broader protection than doing it yourself.

The Art of the Patent, Raising Money on Kickstarter

Posted: Tuesday, Sep 6, 2011 @ 4:15 pm | Written by Gene Quinn | 3 comments
| Tags: , , , , ,
Posted in: Books & Book Reviews, Fun Stuff, Gene Quinn, IP News, Articles, Patents

Patent Agent, engineer and Internet entrepreneur Kevin Prince is attempting to raise money on Kickstarter.  His project?  A book that celebrates the art contained in published U.S. patent applications and granted U.S. patents.

Before going any further it will probably be beneficial to discuss what Kickstarter is, and what it is not.  Kickstarter is a funding platform focused on a broad spectrum of creative projects, and is fast becoming a popular way to raise small but meaningful amounts of capital to kick-start a project, even an invention or company.  It is different than raising money for an equity position, which is specifically prohibited by Kickstarter.  The Kickstarter funding model instead is based on the offering of rewards – copies of the work, limited editions, fun experiences, etc.

Edison Nation Launches Phase 2 of $25 Million Innovation Fund

Posted: Wednesday, Jul 20, 2011 @ 4:11 pm | Written by Gene Quinn | 4 comments
| Tags: , , , , , , , , , , , ,
Posted in: Gene Quinn, Inventors Information, IP News, Articles

Louis Foreman, the producer of the Emmy Award winning PBS television show Everyday Edisons and the publisher of Inventors Digest, announced in April 2011 that he was launching of a $25 million Innovation Fund. Phase 1 of the search for inventions for the Fund to invest in was completed in mid-June 2011.  Phase 2 of the search for inventions and ideas has just begun and will run through Monday, September 12th, 2011.

“The Fund is off to a great start and we have received some very innovative technologies as part of the first wave,” Foreman said. “I am amazed at the creativity and ingenuity. It just reinforces our original premise that everyone has a great idea, but most people don’t follow through. The Fund has become a catalyst to submit these ideas and see if they have commercial viability.”  The proceeds of the Fund which will be invested by Edison Nation to bring innovations to market.  Inventors who have their inventions or ideas selected will share in any profits with Edison Nation.

Supreme Court Affirms CAFC in Stanford v. Roche on Bayh-Dole

Posted: Monday, Jun 6, 2011 @ 12:02 pm | Written by Gene Quinn | 30 comments
| Tags: , , , , , , , , , , , , , , , , ,
Posted in: Federal Circuit, Gene Quinn, IP News, Articles, Patents, US Supreme Court

This morning the United States Supreme Court issued its decision in Stanford v. Roche, a decision that has been much anticipated in the technology transfer world.  Technology transfer is the front line for the interfacing of University research and private sector commercialization, so it is no great wonder that this case captured the attention of academia and the private sector alike. At issue in the case was whether the Bayh-Dole Act automatically vested ownership of patent rights in Universities when the underlying research was federally funded.

Chief Justice Roberts delivered the opinion in a 7-2 decision.

It is not at all an exaggeration to say that Bayh-Dole is one of the most successful pieces of domestic legislation ever enacted into law. The Bayh-Dole Act, which was enacted on December 12, 1980, was revolutionary in its outside-the-box thinking, creating an entirely new way to conceptualize the innovation to marketplace cycle. It has lead to the creation of 7,000 new businesses based on the research conducted at U.S. Universities. Prior to the enactment of Bayh-Dole there was virtually no federally funded University technology licensed to the private sector, no new businesses and virtually no revolutionary University innovations making it to the public. Bayh-Dole set out to remedy this situation, and as a direct result of the passage of Bayh-Dole countless technologies have been commercialized, including many life saving cures and treatments for a variety of diseases and afflictions. In fact, the Economist in 2002 called Bayh-Dole the most inspired and successful legislation over the previous half-century. Nevertheless, the question remained, at least until this morning, whether ownership of patent rights immediately vested in the University as the result of federal funding.