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Patent 10 minutes: Patents and start-ups

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This series of guide is specially catered for start-ups which would like to move forward with BIG ideas. With this compendium, we hope to rev up your IP knowledge in just 10 minutes. Each Patent 10 …

This series of guide is specially catered for start-ups which would like to move forward with BIG ideas. With this compendium, we hope to rev up your IP knowledge in just 10 minutes. Each Patent 10 minutes guide consists of 10 slides - one brand new topic every week. Check out facebook.com/patsnap.

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Transcript

  • 1. Patent and start-ups - Shall we patent?
  • 2. Overview • What is Intellectual Property (IP)? • What is patent? • What are the different types of patents? • Why should you patent? • Why should you not patent?
  • 3. What is IP? Intellectual Property (IP)Intellectual Property (IP) Copyrights Trademarks Patents
  • 4. What is Patent? Invention is a product or a process that provides a new way of doing something, or offers a technical solution to a problem. PATENT Exclusive right for your invention Protection for 20 years
  • 5. What is Trade Secret? TRADE SECRET Gives economic value from not disclosing to public Efforts to maintain its secrecy Do you know? Trade secret can dovetail patents. For instance, after filing for a patent application, improvements made to the invention can be kept as trade secret.
  • 6. To Patent or Not to… Patent • Guaranteed 20-year of monopoly • Powerful legal deterrent against copycats • Adds value to business and attracts investors Trade Secret • Need not be disclosed to the public • No expiry date (vs 20 years for patent) • Relatively inexpensive • Applies to items that cannot be patentable
  • 7. • Sole right to your invention • Competitive advantage in the market • License your patent rights What can a Patent do for You?
  • 8. Types of Patent - Useful purpose - Produced from human activity (not a product of nature) - New and original shape - Superficial treatment of an article Characteristics of a new plant that has been asexually reproduced Utility Patent Design Patent Plant Patent
  • 9. Now that you know what Patent is…. What is ?
  • 10. Why Start-ups Patent? • Patents prevent others from copying and selling your invention • You get to set the price for your invention Maintain competitive prices • Significant incentives for your company, even when your company does not have the know-how, resources, or desire to practice in a different geographic market Generate licensing revenue • Patents increase the company’s worth or assets • Indicates operational competence of the firm’s management Secure investments and financing • Exclusive rights that are publicly known • Less concern whether the information is stolen Substitute for NDA • Personifies that your product is novel • Offers credibility that the product has met the stringent requirements of the patent offices Vanity
  • 11. Why Start-ups don’t Patent? • Many think that their invention has already existed and therefore, not patentable • In fact, savvy inventors know that there are many ways to repackage old inventions Product is “not” patentable • Limited IP budget and resources to start with • Afraid of running into infringing situationsHigh Costs • Especially for software industries, where it’s easy to snake around the current designsWeak Protection • Some companies believe that copyrights and trademarks are sufficient, which is not true • Best if patent the invention and keep the “secret sauce” a trade secret Other forms of protection
  • 12. About IP guide for Start-ups Visit www.facebook.com/patsnap for your weekly dose of Intellectual Property guide for early ventures, written by PatSnap’s PaTENt minutes’ team. Rev up your IP knowledge in just 10 minutes. Each Patent 10 minutes guide consists of 10 slides.