Pitching to a New Industry
Is it worth the time? What has worked before? What will have to change? I look into factors such as demand, market size, manufacturability, cost and trends. I also do an extra layer of evaluation.
Is it worth the time? What has worked before? What will have to change? I look into factors such as demand, market size, manufacturability, cost and trends. I also do an extra layer of evaluation.
Evolutionary and revolutionary product development define how companies improve existing products, introduce new products and innovate. Both approaches have their advantages and drawbacks.
HBCUs have played a crucial role in advancing intergenerational economic mobility for Black families and communities throughout generations. Additionally, HBCUs have been instrumental in fostering innovation and intellectual property (IP) development. A late 2021 report by ThePlug said HBCUs accounted for almost 400 U.S. patents.
This can be a nervy time for the inventor: the real test of whether the device can stand on its own in the marketplace, and whether people want to buy it. Because the launch has such high consequences, you must take the utmost care in preparation to ensure you have everything right.
I have seen inventors with amazing products that never made it to market. The No. 1 reason is that they gave up too soon. Besides a few obvious character traits, these others are consistent in successful inventors.
Efforts by high-tech companies to undermine both the Patent Eligibility Restoration Act of 2023 and the Promoting and Respecting Economically Vital American Innovation Leadership Act ramped up in mid-March, via a joint letter sent to the Senate Judiciary Committee by a number of tech industry organizations and a campaign launched by the Electronic Frontier Foundation.
Three Historically Black Colleges and Universities (HBCUs) were designated as Patent and Trademark Resource Centers (PTRCs) in 2023, and the USPTO plans to add more. The three are the John B. Cade Library at Southern University and A&M College, John B. Coleman Library at Prairie View A&M University, and Miller F. Whittaker Library at South Carolina State University. Howard University’s Founders Library was designated a PTRC in 1986.
We have done many things at the USPTO to push those doors of opportunity wide open, but I want to highlight a few in particular that I need your help in sharing with others. Collectively, they make access to the Patent Trial and Appeal Board (PTAB) easier and more transparent than ever, for both legal practitioners and the inventors they represent.
Grenada innovation workshop was memorable for beautiful innovation, people and scenery. Once the sample projects were completed, teams had the afternoon to use the parts to build their own prototypes and work on their digital prototypes.
As innovative products continue to emerge, what are some of the ways for inventors to reach a wider audience for effectively launching their inventions?
In 1979, Lisa Lindahl, Hinda Miller, and Polly Smith received U.S. Patent No. 4,174,717 for the athletic brassiere, or “Jogbra.” More than 40 years after their invention, they gathered in the National Inventors Hall of Fame Museum in Alexandria, Virginia, to discuss their experiences as pioneers in the women’s fitness industry and to reminisce about their days as young friends and creators.
Woman’s inventing experience reveals production, design and expense challenges. After your first year or two, when sales appear to be at their peak, approach manufacturers who have a product line in which your product would fit.