Posts Tagged: "invention"

This page and website contain contain detailed information to help inventors on the road from invention to patent… Below are a sampling of inventor help links to specific patent and invention related information throughout our website. As you read these articles you will invariably come across links to other articles of interest, which you can and really should read. While I believe inventors should take the time to read all of the pages throughout IPWatchdog.com, I have gone through the IPWatchdog.com archives and created several “reading assignments,” which will hopefully make the task of figuring out where to start more manageable, and which will help get you started. I recommend you do them in this order (i.e., starting with Reading Assignment 1), but if you find something that you just need to know then by all means jump ahead. You can also visit our Inventor Education Archive as well.

Inventors know very well what they have invented and what they plan to do with their invention. But the typical inventor has a terrible sense of what their invention could be… All too often inventors and entrepreneurs spend too much time with their heads down, plow forward, and focusing only on the day to day operations associated with inventing. This is, after all, what inventors do and the inventor’s mindset. There is a problem to be solved and solved it must be! The problem this creates, however, is that is prevents inventors from looking at the bigger picture as they are inventing, which can lead to a catastrophe if the tunnel vision gets too severe… It is also critical for inventors and entrepreneurs to have a strategy to succeed, which seems simple enough, but is typically anything but simple for the creative types that are so good at inventing. The goal is not to create an invention that is cool, the goal is not to get a patent, the goal is almost universally to make money. The cool invention and patent are a means to the end, not the end in and of themselves.

Artificial Intelligence (AI) is coming for your job. But is it coming for the job of your photographer or inventor? The driver-less cars, automated factories, and automated laboratories of today may give way to AI capable of thinking, writing, creating or even diagnosing disease. So it certainly seems feasible that AI is coming for the jobs of creators like photographers and inventors, although we may be many years away from true “general AI” capable of human-like intelligence. Nevertheless, automation is taking over many tasks once relegated to humans — like running laboratory experiments or being a lawyer.

Once you get that first provisional patent application filed you are ready to approach others for assistance with your invention. You have a measure of protection, but never forget you have no exclusive rights until the patent ultimately issues. You should also still get a confidentiality agreement signed by anyone who provides assistance to you. While the clock in the US is ticking to file the nonprovisional, the real important significance of confidentiality agreements after a provisional filing is so that those who assist you will not run off with your invention on their own. With this in mind, it is ABSOLUTELY CRITICAL that you get an assignment of rights with respect to any protectable aspects provided by those giving you assistance.

Sometimes inventors get so caught up in the creation aspect of inventing that they fail to stop and ask whether they should be investing the time, money and energy into the creation. The key to making money with innovation is to be able to solve a problem that will lead to a product or service that others will be willing to pay for. As Thomas Edison famously learned early in his career, inventing for the sake of inventing is not something that will lead to riches. After one of Edison’s first inventions was a flop he famously vowed to never again invent anything without first researching and determining that there would be a demand for the invention or innovation.

BlueIron’s non-dilutive financing for startups pays all of the patent costs, including filing fees and attorney’s fees, using a conventional commercial “lease-back” arrangement. This model has been gaining traction since its first release in the fall of 2014. After financing professional poker player Phil Gordon’s patent for his new software startup, Chatbox, BlueIron has made investments in startup companies in software, hardware, biotechnology, medical devices, financial services, and agriculture.

Generally speaking the first step toward commercializing an invention and making money is typically to pursue the patent path. For those new to the industry it is important to understand that on the road to a patent there are many mistakes that inventors can make unwittingly, some of which will ultimately make it impossible to obtain a patent. With that in mind, here is a list of the top 5 mistakes inventors make, followed by discussion of what you should do to move your project forward in an appropriate and responsible way.

Patents provide a competitive advantage, and those sophisticated in business know enough to look for and exploit whatever competitive advantage exists. Patents are the 800 pound gorilla of competitive advantage, but realize if you are going to want and need significant sums of money from investors rarely does a single invention or patent command attention. No one wants to invest significant funds into a company that has a one-and-done approach to innovation. That is why the most valuable inventions will have applicability in a variety of fields, and will have a variety of different implementations, alternatives and variations.

There is nothing wrong with dreaming, but there is an extremely important cautionary tale to be told about the tremendous harm that can be done to opportunity when inventors exaggerate the market size for their invention. People with money or those who control distribution channels don’t usually prefer to do business with those who are not professional. They also don’t appreciate exaggeration because it screams that you are unrealistic, which means you will be difficult to work with in the long run. Nobody enters a business deal with someone when they think they will only create a headache.

Whether you are an independent inventor, an fledgling entrepreneur or a seasoned inventor who is going out on your own for the first time, the best thing you can do for yourself is to become familiar with the concepts and procedure associated with protecting your inventions. Obtaining patents is not easy for the uninitiated, and without some familiarity you will…

The truth is you cannot patent or protect an idea or a concept. However, it is also an undeniable truth that all inventions start with an idea, but an idea is not something that can be protected by any form of intellectual property protection. Said another way, you simply cannot patent an idea or concept. Similarly, you cannot copyright or trademark an idea or concept. So what do you do when you have an idea? How much is required in order to have an invention?

Of course, whether you are going to pursue licensing or manufacturing, for the first lesson is to realize that there are no tricks to invention marketing. It just takes work. Of course, you need to first determine what it is that you want to accomplish with your invention, which should be covered in some form of patent pending prior to beginning commercialization efforts. But once you have determined which path to follow you just need to focus your efforts and attention to identifying opportunities, pursuing them and not taking no for an answer. Certainly, there may be a time that you will have to retreat and move on, but those who succeed by and large share the same quality of determination. Determination is critical.