To Patent or Not to Patent?

INTELLECTUAL PROPERTY

Here we have our suggestions and turn on Intellectual property through our personal experience of I.P.Lawyers, Patents, Trademarks, Design Right and Copyright. We have a few unique suggestions as a small business that has had a crash course in I.P. and the various pitfalls of I.P. from; facing a lengthy & costly patenting process to obtain a patent and dealing with a trademark infringement challenge with one of the worlds biggest internet brands & succeeding.

Please consider the following question and statements:

Do you need your idea protected or not, and what are you prepared to gamble? Finances & Time?

No.1 Are you prepared to invest the time and resources to obtain a patent for your idea or product? If so you need a realistic financial plan and funds for a lengthy & costly legal process that realistically may take 4 to 5 years before you see a return on your investment. This does not guarantee a water tight patent that hasn't already been super ceded or become out of date before you get it to market. But with a good idea and patent you could potentially have a very lucrative & legally protected product long term.

Or

No.2 Alternatively with the same resources, finance, time and energy forget a patent & take the risk of being the first product & brand to market. Could you prototype, tool and manufacture the product and saturate the market before the competition catch on. And invest in building a brand synonymous to the product and identifiable to the consumer, start turning a profit and create something more powerful than a patent.

Before even looking at developing a product and considering a patent ask yourself?

What is your Long term goal?
To establish a business around a product? Manufacture?
Or License the product? Sell product/ concept? Build a range of products?


Do you have a Budget for the following?
Prototyping
IP; Intellectual property i.e. patents & protection of idea.
Business Plan, Manufacturing, Marketing
Total Budget?


Do you have a time scale?
Sampling
Final prototyping
Branding
IP: Trademark & Patent
Completion Date/ Co. Sale

Do you have experience in this market or business?
Do you have routes to market?
Contacts in manufacturing/retail?
Existing company/customer base?

How are you protecting your idea? 
Have you disclosed details of your product to any 3rd parties? 
Do you have a confidentiality agreement? 
Do you have an IP Lawyer?
Have you filed Design rights?
Have you filed for a Trademark?
Have you filed a Patent?

If you are looking at developing a textile product please feel free to contact us for details on our business consultancy rates and services. Why not see if we are the right match for your project?

www.designovation.co.uk

info@designovation.co.uk

Designovation; the process for bringing plans into reality!

  • Who replaced the word Hoover with a Dyson?
  • Where would Apple be without Steve Jobs or Steve Wozniak? Where would we be without our I-pads, I-phones etc.?
  • Where would Disney be without Walt Disney and his brother Roy and their team of Imagineers? What would our childhood memories be without Disney?
  • What will our children's future and our environment look like without more people like Elon Musk? Without SpaceX, TESLA, Solar City?

Where does enterprise, economic wealth & prosperity start i.e. The Industrial Revolution in Scotland in the mid-eighteenth century and the late nineteenth century, the IT explosion in California’s Silicon Valley in the 1970’s etc. Each of the above explosions began in cities filled with great Designers, Innovators & Creative thinkers that possessed something different from everyone else. Some say they had a dream, an innovation, inspiration- I call it something else!

My fascination for understanding entrepreneurs began over thirty years ago in my early teens observing and listening to my father and the many business owners I met through the family business in manufacturing and engineering. From my life long interest in entrepreneurs it brought me to one conclusion- there is an essential ingredient shared by great achievers in life and individuals who fulfil their potential. The same ingredient is responsible for the execution of solutions, progress, innovation & economic growth.

DESIGNOVATION?

I believe that our current challenges in our economy hinge on the absence of a word that describes this ingredient. I call it Designovation.

What is Designovation? I hear you say.

As children we were brought up to know the words dream, creation, innovation but never a word called designovation. Yet this is the word that truly describes the essential ingredient that differentiates the following individuals from everyone else on the planet from; Carnegie, Walton, Roddick, Dyson, Jobs, Gates, Disney, Kroc, Musk to Branson.

They each understood and practiced the following;

Dreaming; the formulation of an unpractical & unrealistic idea.

Imagination; forming ideas not present to the senses.

But more importantly even although the word did not exist they each practiced and embodied this word;

Designovation; the process for bringing plans into reality,

Are we encouraged to have both a Dream, an Imagination & a Designovation? 

Would you like to learn more? 

How would you like to create your Designovation?

Learn more about the Designovation Philosophy- 

Available from Amazon in both Paperback & Ebook

Also available on AppleBooks

Part One: The Entrepreneur; White Ball Thinking

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