And Here’s the Pitch (Letter)
Most people assume a patent covers the entire item, whereas it may only cover a fraction of the features. Tips on an old-school approach to landing a licensee for your invention.
Your USPTO: Steeped in Excellence
Dr. Charles Drew pioneered blood preservation and storage while advocating for more opportunities for Black physicians. Carrying a tray of bright red geraniums, Dr. Charles Richard Drew led his daughter to the backyard of their three-story house on the campus of Howard University in Washington, D.C., where a circular arrangement of colorful blooms awaited them.
Shopping Channels? Don’t Laugh
Inventors and product designers can learn from home shopping’s focus on relatability, tone, and creating an aura of scarcity. Corny and predictable presentations work—so as millions pay, pay attention.
Safety in Numbers
LinkedIn, the world’s largest professional network, provides many opportunities for inventors and entrepreneurs to find new ways to refine ideas, gain feedback and network. LinkedIn Groups can enhance this.
Think Like a Licensee
Companies always want a margin of at least 50 percent. You need to have a good grasp of the percentage of the retail price the company receives to address this issue. Understand and leverage these 4 main deal-making factors for your potential partners.
Your USPTO: News Flash July 2024
The USPTO granted its 12 millionth utility patent on June 4. “Labeled Nucleotide Analogs, Reaction Mixtures, and Methods and Systems for Sequencing,” awarded to Pacific Bioscience in Menlo Park, California, involves a chemical reagent for use in DNA sequencing that produces faster and more accurate results.
Nutty About Putty
Aaron Muderick walked away from his life’s dream to build a creative and purposeful toy empire BY REID CREAGER
Uncertain Victory?
SCOTUS’ ruling came in its May 9 decision on Warner Chappell Music v. Nealy, a case that asks whether a copyright plaintiff can recover damages for acts that allegedly occurred more than three years before the filing of a lawsuit.
Your USPTO: Timeless Impacts
In her National Inventors Hall of Fame® acceptance speech, Andrea Goldsmith honored the legacy of past inductees. Shankar Balasubramanian lauded the USPTO and its current, ongoing mission to encourage and enable intellectual property protection, particularly patents. And Asad Madni thanked future generations for inventions and innovation that will further transform the world.
Licensing Concepts Faster
I have experienced an array of timelines when pitching and licensing new concepts—from licensing an item to the first person I pitched it to, to licensing a concept within a month of pitching to dozens of companies, all the way to licensing a product after pitching it for a couple of years, and everything in-between.
Ouch! That One Stung
A key part of success when crowdfunding is to have a beautiful working prototype with high-quality digital assets (photos and videos). Consider these strategies for launching a product so it does not meet the same fate as the Hornet.
Know The Affordability Barrier
This fine line can mean the difference between no sales and big ones. Most products fail in testing, and that is exactly why it is done.