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Avoid Intellectual Property Disasters with Proper Strategy
- 1. HOW TO AVOID AN INTELLECTUAL PROPERTY DISASTER IDEATO IPO Steven Colby, JD, Ph.D. Patent Attorney – Rimon Law, PC steven.colby@rimonlaw.com © Steven Colby 2022 July 6, 2022
- 2. THE DARK SIDE… WHATYOU DON’T KNOW CAN HURT
- 3. MISTAKES 1) Ownership 2) Ownership 3) Waiting 4) No Strategy 5) Understanding the Patent 1) Specification 2) Claims
- 4. OWNINGYOUR IP • Ownership initially vests in the INVENTORS (USA) • Applications must be assigned to the company • Assign Clauses • Employer IP • Assignment process
- 5. OTHER PEOPLE’S IP • The start-up viewpoint • Read the literature • Keep records • Open source trap
- 6. WHEN DO I NEED TO START THINKING ABOUT IP? • Yesterday….
- 7. STRATEGY • Patent for the Marketing Person, Not the Engineer • Product Driven • Focus onValuation • Make IP more than just a Checkbox
- 8. SEEING THE LIGHT… IP CAN MAKE YOU RICH(ER)
- 9. WHY WOULD YOU DO THIS? WHY WOULD A CASH LIMITED STARTUP PUT THOUSANDS OF DOLLARS INTOTHE DEVELOPMENT OF AN IP PORTFOLIO?
- 10. WHAT CAN I GET? • Copyright • Trademark • Trade Secrets • Patents
- 11. COMMON TYPES OF PATENTS PROVISIONAL • Placeholder • Quick & Easy • Inexpensive • ONEYear NON-PROVISIONAL • Ornamental • 14 years • Moderate Cost DESIGN • Enforceable Rights • 20 years • High Cost
- 12. WILL I RULE THE WORLD WITH MY PATENTS?
- 13. WHAT DOES THIS ALL COST? 2500 18000 30000 $0 $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 Provisional Non-Provisional filing Patent Issue Patent Costs (US) First Application Family Members