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Are you an inventor, entrepreneur or small business owner? Do you have an idea for a new product or service (which we collectively call a ‘product’) and don’t know if the product can be protected or how? If the product can’t be patented, can you still sell the product? Should you file a provisional patent application, a utility patent application, or a design patent application? What protection do you have if you do not file a patent application? When must a patent application be filed before you lose your U.S. or foreign patent rights? What are the time lines for filing a patent application? If you have a patents, how do you tell if the claims adequately protect the invention?
Are you a ‘bootstrapper’ on a reduced budget looking for financial assistance or information on how to bring a product to market. Do you need assistance pitching your invention or new product to an angel investor or a venture capitalist? What is Kirkstarter? How do you begin selling products on Amazon?
Most inventors believe that obtaining a patent is the most important requirement for a successful product. We disagree. The most important aspect of a successful product is its ‘value proposition’ to the buyer. The basic question is: ‘Why should a buyer buy you product? Investors and companies that sell products and services call this aspect product’s ‘value proposition’. Most small businesses and entrepreneurs want to file patents that protect the product’s ‘value proposition’. If a product’s initially ‘value proposition’ can be protected, it is normally best to abandoned your plans to file a patent or re-define the product’s ‘value proposition’.
Most large oligopoly companies, such as Apple, Microsoft, spend 3 to 4times more on marketing and branding to promote the ‘value propositions’ of their products and service than they spend on new product development. With the Internet and online retail websites, such as Amazon, Alibaba, and Ebay, the strategy used by large companies for bringing a product to the marketplace can be copied by individuals and small businesses. Before you seek patent protection, you need to identify the ‘value proposition’ of the product that appeals to the licensee or assignee.
What is NWPatents.com?
NWPatents.com is a website sponsored and maintained by Dean A. Craine, P.S. Attorney at Law. It provides useful, easy to understand Patents, Trademarks and Technology-Related Law information and marketing information to inventors, entrepreneurs, and small business owners interested in bringing their products to the marketplace or interested in licensing or assigned their patent rights to others.
Contact us for more information regarding Patents, Trademarks and Technology-Related Law matters.
Telephone inquiries are welcomed: (425)637-3035
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