BlueIron's Patent Myth Podcast explores many of the issues surrounding intellectual property and the startup ecosystem.
At least 95% of all patents are not worth the money, and there is no good reason why the success rate needs to be that low.
Startup companies - and their investors - need to know the backstory of how to think about these assets, so that we can create good assets, we can value them appropriately, and we can make good business decisions.
This podcast is for startup entrepreneurs, inventors, but also angel investors who need to know about this niche of their asset class - and how to do a better job.
The real story: hope.
The real story behind all of this technical and legal detail: hope.
The breathless hype around patents and "losing everything" if you do not have a patent is just not reality. A patent is a business tool, and it should be treated as such.
You should make a business case to get a patent, and if the business case does not justify it - don't get one.
An important element of hope that I want you to get from this podcast: you can do this.
It is not rocket science, but the patent system does have some nuance and weirdness that you might not expect. Any entrepreneur can navigate the system - and any angel investor can help them.
The thing that is missing in the conversation about patents is perspective.
I advocate a balanced, even handed approach based on data rather than emotions.
You can do this.
Russ
Should you do a patent search? Could it be helpful or harmful? For big companies, patent searches are forbidden because of the liability. But for startup companies, patent searches can help your due diligence prior to filing. Beware of doing a patent search with the unconscious bias against the prior art. Far too many inventors…
There is a huge myth that patent examiners are a lazy group of unionized government bureaucrats who are out to get you. The truth is that patent examiners – more likely than not – know more about a specific technology than anyone on earth. They spend their days searching, reading, and understanding a very narrow…
Many entrepreneurs (sometimes with their investor’s approval) skip getting patents. Many say that they do not have the $2M of dry powder to enforce their patents, so they just do not play the game. Patent enforcement insurance is ridiculously affordable, especially for startup companies. Enforcement insurance means that you have pre-paid legal fees at your…
What is the worst symbol for an invention? It is the light bulb. Edison did 1000 experiments to get to the light bulb. It was a long, methodical, painful process – then the “light bulb” moment. Good invention – and good entrepreneurship – comes from the same methodical processes, not some flash of light. Come…
Webinar from 9 Apr 2020. How do you manage an IP portfolio? You need tools. Here are two simple questions to ask: 1. Can you tell if someone infringed your patent? 2. Can someone design around your patent? Armed with these two tools, you can manage most of your patent portfolio.
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