InvenTank
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This document provides information on developing, protecting, testing, and licensing intellectual property. It outlines steps for inventing solutions, researching the market and patents, protecting ideas with patents/copyrights/trademarks, testing products at retail locations and fairs, and licensing the intellectual property through negotiations using sell sheets. Key details covered include costs to prosecute a patent, average time to receive a patent, rights granted if a patent is issued, and alternatives to patents that may provide lower-cost protection.
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InvenTank
- 1. BETA
- 2. BETA BIG PICTURE Plan your work and work your plan with this valuable Go/No Go roadmap! Define Sketch Model Prototype Research Market Search Patent Search Protect Patents Strategies Test Retail/Web Shows/Fairs DRTV License Sell Sheets The Approach Negotiations
- 3. BETA DEFINE Invent Solutions that Sell! sketch model prototype
- 5. BETA PROTECT Patents, Cop yrights & Trademarks Business Strategies for IP Paul C. Thibodeaux Frilot L.L.C. www.frilot.com (504)599-8204 IP: A Business and Financial Decision
- 6. BETA Three Basic Types of Intellectual Property Rights: WHAT DOES A PATENT COVER? 6 • Patents. • Copyrights. • Trademarks.
- 7. BETA Patents: Cover new inventions, including processes, machinery, manufactured products, and compositions of matter. WHAT DOES A PATENT COVER? 7
- 8. BETA Copyrights: Cover written expressions and communications. WHAT DOES A PATENT COVER?
- 9. BETA Trademarks: Cover identifying symbols and words used to distinguish goods or services. WHAT DOES A PATENT COVER?
- 10. BETA Novel and Non-Obvious Inventions. What is a Novel Invention? New. Can’t be publicly known before it was invented. Can’t be published more than one year before patent application filing. Can’t be offered for sale one year before filing date. WHAT INVENTIONS ARE PATENTABLE?
- 11. BETA Novel and Non-Obvious Inventions. What is a Non-Obvious Invention? A non-obvious improvement over the prior art. WHAT INVENTIONS ARE PATENTABLE?
- 12. BETA What are the costs to prosecute a patent? Patentability Research. Patent Application Drafting. Patent Application Filing Fees. Patent Office Action Responses. Maintenance Costs. Enforcement Costs. WHAT DOES IT COST?
- 13. BETA How long does it take to get a patent? Factors include: Type of invention. Complexity. Existence of similar prior art. HOW LONG DOES IT TAKE?13
- 14. BETA What do I get if my patent issues? Exclusive right to make, use, and sell your product. Typically, patent is valid for 20 years. Right to enforce the patent. WHAT HAPPENS WHEN IT ISSUES?
- 15. BETA Are there other alternatives that may offer some protection at a lower cost? Trademarks. Provisional Patents. Trade Secrets. WHAT ARE MY ALTERNATIVES?
- 16. PAUL THIBODEAUX R E G I S T E R E D PAT E N T AT T O R N E Y P T H I B O D E A U X @ F R I L O T. C O M ( 5 0 4 ) 5 9 9 - 8 2 0 4 W W W. F R I L O T. C O M 16
- 17. BETA PROTECT Patents, Cop yrights & Trademarks Business Strategies for IP Paul C. Thibodeaux Frilot L.L.C. www.frilot.com (504)599-8204 IP: A Business and Financial Decision
- 18. BETA TEST REAL sales DRAMATICALLY increases your odds for successful licensing! Transactional Learning Sell small quantities in stores and online Sold at fairs for years before going on TV & in Retail Buyers are not interested in single item lines, ASOTV solves that problem! ResponseMagazine.com & Retailing.org Retails & Web Shows & Fairs DRTV
- 19. BETA LICENSE The Big 3 • Royalty rate: 3%-8% • Minimum: negotiable • Up front amount: negotiable Creating Wealth with Passive Income! Sell Sheets The Approach Negotiations • Images • Features & Benefits • Contact Info • Trade Shows • Cold Call
- 20. BETA Special Offer Premium Membership BONUS FREE 30 min. consultation www.InvenTank.com (search lisalloyd) /inventank /lisavlloyd
Notas do Editor
- Quick Intro:My name is LL. I have been inventing and working in the space for 22 years. I have 10 patents that have generated over $30M in sales. Most recently I had the privilege of being on Shark Tank season one and have partnered with Daymond John on that product as well as other ventures since then. I have had great success and failure and absolutely love sharing what I’ve learned from both. Quick Survey: Out of curiosity, how many of you are already familiar with licensing and made a decision to do it?Today I am going to share the 5 simple steps to successful inventing. I promise to give you the opportunity to ask questions at the end of each slide so please hold them until then.Quick Housekeeping: Bathrooms, etc.So, let’s dive in!
- Does it work?COGManufacturabilityRetail Price GoalAlternative methods
- Patents – Provisional, Non-Provisional, DesignDesign cover what it looks like - $125 and upProvisionals are a potentially less expensive way to stamp Patent pending – buying time. They NEVER issue Must file acorrosponding Non Provisional to ultimately issue - $125 electronicllyNon Provisionals (Utility Patents) - $190/$95 electronic for 3 claims and goes up from thereEXAMPLESFT had bothScrunchi had design
- Patents – Provisional, Non-Provisional, DesignDesign cover what it looks like - $125 and upProvisionals are a potentially less expensive way to stamp Patent pending – buying time. They NEVER issue Must file acorrosponding Non Provisional to ultimately issue - $125 electronicllyNon Provisionals (Utility Patents) - $190/$95 electronic for 3 claims and goes up from thereEXAMPLESFT had bothScrunchi had design
- Sell sheet – PicsFeatures & BenefitsStats