Browsing Tag
patent
26 posts
Entrepreneurs Share Tips for Overcoming E-Commerce Product Launch Obstacles
With consumers spending more than ever online, it’s no wonder why so many entrepreneurs are joining e-commerce marketplaces in droves. Consumers around the world spent $900 billion at online retailers in 2020, according to report from the Mastercard Economics Institute. Up to 30% of that shift is expected to be permanent, too. This growth, regardless...
Trade Secrets or Patents: Which Should You Choose?
Most businesses need to continuously innovate to stay relevant in the marketplace. With such intense focus on innovation, businesses naturally seek to patent their inventions to avoid infringement by other parties. But there’s an alternative: trade secrets. Getting a patent is a very time-consuming and costly process. In niches such as tech, where first mover...
Can a Trade Secret Protect Small Business Ideas?
What are the best ways to protect a business idea? You can protect intellectual property (IP) using one of four methods. The three most common protections are filing for a trademark, copyright or a patent. The fourth form of protection is a trade secret, and a trade secret can, indeed, protect small business ideas. What...
What Do Software Startup Unicorns Like OneStream and StockX Have in Common?
OneStream and StockX are two of the most recent unicorns to emerge out of Detroit’s thriving startup ecosystem. OneStream provides B2B corporate performance management (CPM) software, while StockX offers resellers a marketplace to sell shoes, electronics and other products. Despite differences in their products and target audiences, the two companies likely followed similar intellectual property...
Why Tesla’s Open Source Patent Strategy Reinforces the Importance of Patenting
Elon Musk famously announced in an open letter in June of 2014 that Tesla would “not initiate patent lawsuits against anyone who, in good faith, wants to use our technology.” In Musk’s words, “Technology leadership is not defined by patents… but rather by the ability of a company to attract and motivate the world’s most...
What Startup Founders Should Know About NFTs and Intellectual Property Protection
As a startup founder, you might be wondering how you can take advantage of the recent craze surrounding non-fungible tokens (NFTs). Perhaps NFTs can be used to protect your startup’s intellectual property without spending the time and money to secure more formal IP protection. After all, NFTs can be an effective way to enforce a...
5 Intellectual Property Considerations Startups Oftentimes Overlook
Many contestants on ABC’s hit show “Shark Tank” answer “yes” when asked if they have a patent, illustrating that startups may generally appreciate the importance of filing a patent application early to protect their innovations. However, there are a variety of options available when developing a company’s strategy for protecting its Intellectual Property (IP). StartupNation...
The Benefits of Patenting: When to Protect Your Inventions and Why
Patents are one of the ways to keep track of the immense advancement of our society. According to IFI Claims, 2019 saw a new record of patents granted by the US Patent and Trademark Office – a staggering 333,530. Given proper infrastructure, these ideas can become game-changers. One big idea can make or break bottom...
So, You’ve Got an Incredible Invention… Now What?
It's taken weeks, months, maybe even years to conceptualize and perfect your extraordinary invention. You know it's a game-changer. Your creation is ready for the world, and you can't wait to unleash it. So, now what? The creative process is one thing; the business side is an entirely different animal. Don't worry. As an entrepreneur,...
4 Common Patent Application Mistakes and How to Avoid Them
Registering for a patent is a significantly more complex process than registering for other forms of intellectual property protection, like trademarks and copyrights. Trademarks generally require a name search, application and filing fee. Copyright applications (and their filing fees) may be filed with copies of the original works of authorship, like a fictional story or...
10 Reasons to Patent Your Startup’s New Invention
What would you do if your biggest competitor said your startup’s product infringes on its patent? What if you learned that the process your competitor uses to make its product infringes on a patent you own? Patents can provide powerful leverage for your business. Patents are versatile: a patent can cover your products, the machines...
What You Need to Know Before Applying for a Patent
What should an inventor do almost immediately upon creating a new invention? They must file a patent application. A patent, according to the United States Patent and Trademark Office (USPTO) is the grant of a property right to the inventor. Once a patent has been granted to its inventor, the term may last for up...
Which 3 Types Of Patents Are Recognized by the USPTO?
If you have an idea for an invention, do you know what a patent is? How about the different types of patents? Patents protect the mechanisms, principles and components of an invention. According to the United States Patent and Trademark Office (USPTO), a patent for an invention is defined as “the grant of a property...
Shark Tank: A Case Study in Patent Protection for Startups
Many startups struggle to determine when to obtain a patent, or whether to obtain one at all. Here, we’ll examine the show, “Shark Tank,” to demonstrate that it is important to first determine the marketability of a product and sustainability of the corresponding business before applying for patent protection. “Shark Tank” features a panel of...
To Patent or Not to Patent: A Guide to Protecting Your Products
Every company that is inventing new products faces one all-important question: should you patent your idea? Unauthorized use of your business’s intellectual property can seriously undercut your profits, which is why many entrepreneurs believe they must patent any product they create. However, the issue isn’t always so cut and dry. Startup environments are highly competitive,...
Intellectual Property Considerations for Your Startup
Starting your own business is a new and exciting challenge that can be rewarding, but overwhelming. From the beginning, it’s important to consider the intellectual property associated with your business and ensure its protection and availability for use. There’s nothing worse than building a business and a brand around a name, later to find out...
Securing Your Startup’s Intellectual Property Rights: Patent vs. Trade Secret
Entrepreneurs and emerging companies often look for ways to protect their valuable assets. They want to secure their ideas and ultimately enforce their rights around them. Traditionally, there are four types of intellectual property rights: patents, copyrights, trademarks and trade secrets. Patents and trade secrets are the two types of intellectual property rights that protect...
This Sneaky Hack Saved Me $7000 (and Helped Me Build a Million Dollar Business)
I started my first company when I was six years old, selling fallen apples to keep the streets clean. I have always seen problems and created a solution, despite all the odds. So when it came time to get my fashion-forward, hygiene-focused clothing line, PantyProp, off the ground, I wasn’t going to let a little...
Identifying and Protecting Trade Secrets for Young Companies
The “secret sauce” that makes a startup unique and profitable can be among its most important competitive advantages through each stage of its existence. Understanding what your business’ trade secrets are and how to protect them can be particularly vital in the dog-eat-dog world of entrepreneurship. This following aims to offer clarity and actionable strategies...
4th Annual ‘As Seen On TV’ Pitch Event Returns from InventionHome
InventionHome announces that their popular DRTV Product Summit will return for a 4th consecutive year to the campus of Robert Morris University in Pittsburgh, PA on October 22, 2014. The DRTV (Direct Response Television) Product Summit offers inventors the opportunity to present their products in person and privately to some of the most influential companies...