hudson library - burton d. morgan center for entrepreneurship research series "turning your...
TRANSCRIPT
Hudson Library - Burton D. Morgan Center For
Entrepreneurship Research Series
"Turning your Ideas and
Products into Cash"©
September 27, 2011
Andrew R. Spriegel, Esq. www.Smart2Patent.com
My Background
1.Engineering
2.Management
3.Fortune 50 and 100 Companies
4.Inventor
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My Background
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My Patents (Issued/Published/Provisional)
Provisional Patents60/922,235; 60/918,801; 60/926,821; 60/922,234; 60/925,309; 60/547,706; 60/839,259;61/275,074; 12/868,703; 60/202,540;
Non-Provisional Filed12/149,469; 12/081,853; 12/099,035
US Issued Patents5,242,456; 6,105,617; 6,234,137; 6,334,950; 6,997,082; 6,983,495; 7,302,716; 7,690,5377,434,710
US Issued Design PatentsD504,256
Canadian Patents2122935; 2323242; 2324734; 2564667; 2567509; 2542965; 2500170; 2567509
International PatentsBrazil PI0604810; PI0604349; Japanese 2007146834; 2007119069; Chinese 1971045; European 1790416; EP1792661; EP06255442; Australian 2006233203; AU2006230698; Taiwanese 200730726; Korean KR102007054579AA; KR102007045941AA; Singapore SG000000132599A1; SG000000131902A1
US Published Patents2003/0024567; 2004/0078894; 2004/0007055; 2004/0148698; 2006/0071032;2006/0053550; 2007/0095861; 2007/0114247; 2008/0078824; 2008/0262926; 20080245753; 2009/0276296; 2008/0245753; 2008/0202631
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The Firm
Fortune 100 and 500 companies Companies of all sizes
(US & International)Inventors
PatentsTrademarksCopyrights
Intellectual Property
Legal Disclaimer:
These charts and information in this presentation are very simplified and
abbreviated!
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Six (6) Main Presentation Topics1.Intellectual Property2.Patents 3.Trademarks 4.Copyrights5.Branding6.Teamwork
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IntellectualProperty
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Tangible Assets &
Intangible Assets
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Intellectual Property
Tangible AssetsBuildings, Vehicles and Inventory
Intangible AssetsPatents, Trademarks and Copyrights
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Tangible vs. Intangible Assets
Intangible AssetsTangible Assets
These guys are in the box seats!
These guys are in the bleachers!
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What is the most valuable asset in business today?Intellectual Property!
Most Valuable Business Assets?
Patents
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Patents
A U.S. Patent grants a Mini-Monopoly
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No. US Utility Patents Filed
Number of Utility Applications Filed at USPTO
050,000
100,000150,000200,000250,000300,000350,000400,000450,000
1960 1970 1980 1990 2000 2010
Date
No
. of
Ap
plic
ati
on
s
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Growth in Patents
Growth in patents?
Infringement lawsuits in the millions, hundreds of millions and in some cases
billions of dollars.
Polaroid v. Eastman Kodak, (instamatic camera case) Kodak infringed those claims and paid out approximately
$873,000,000.
PatentsUtility Patents
Design Patents
Plant Patents
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Utility Patents
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Utility Patents
A Utility Patent Protects Functional !
This can be to a product, machine, a process, or even
composition of matter.
BAD NEWS - Invention Success Rates
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Patents
Typical Invention Approach
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Low Success Rate
• Non-Provisional Patent (Expensive)• Complex Product • Work with a Bank• Design a product like you are a Company • Get the Lowest Price for the Product• Buy Large Quantities to get the Lowest Price • Go Overseas to get the Lowest Price• Sell to Wal-Mart, Lowes, Home Depot…or License Product (Big Box Stores)• Spend a lot of Money• Fail – Never Invent Again
Spriegel Invention Paradigm
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High Success Rate
• Provisional Patent (Less Expensive)• Simple Product (Tough to License Patent)• Can Manufacture One at a Time• Sell on Your Own • Avoid Wal-Mart, Lowes, Home Depot…• Don’t worrying about Profit Margins Initially• The price will come down as sales go up• The Goal is to take away Market Share• Get to Positive Cash Flow (Quickly)• If it is not working move on (Fail Fast Fail Early)
Inventors are often their own worst enemies!
“This is a MILLION DOLLAR
PRODUCT!” 24
Inventing is very much like buying lottery tickets but you can substantially
increase your odds of Success!
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Selling Products
Sell to end user directly – High Margins
Sell to Big Box Stores – Low Margins
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Absolutely Key
Work with manufacturers that will
Work with You
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Spriegel Invention Paradigm
• Greg Getzinger (Team Work)• $100,000+ Sales in less than one year• Dominos, Schwan’s, Piccadilly Circus Pizza, Speedway, …
JD Sanders Logo (Team Work)
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www.WonderValv.com
Van Washburn (Team Work)
20¢ per Valve
Spriegel Invention Paradigm
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www.MyTeeGolfProducts.com
Rich Spenser, SSI (Team Work)
Spriegel Invention Paradigm
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www.jetportpopper.com
Darlene Heimmer
Spriegel Invention Paradigm
Les Briggs and Myself (Team Work)
Manufacturing/Design
Licensing Products
Very difficult and frustrating in
many Instances
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What is this Patent?
Licensing a Product can be very Difficult!
10+ Year Old Patent (Issued Jan 18, 2000)
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Patents and Intellectual Property Rights
Industrial Designers/Graphic Artists Involved
in the Patent Process. Craig MilosciaNottingham – Spirk Licensing Agreement
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I negotiated deal with Nottingham Spirk
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• Patent 10+ Years Old• Gave him two hour Consultation• He had ten prototypes• JD Sanders made prototypes look professional• JD Sanders who has an extensive tooling background sold all 10
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Parker Hannifin, Babcock & Wilcox, JJB Engineering, Ansco CNC Specialists, Cornwell Tools and Standard Engineering Group, all of the Akron, Ohio, area, Schoeller-Bleckmann Energy Services, Grayledge Pump & Industrial LLC, Logan Machine Company and GM Lordstown, Ohio, are currently using the wireless test indicator.
Design Patents
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Design Patents
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Design Patents Brian Kanke
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Utility vs. Design Patent ? Design PatentsUtility Patents
Industrial Designers
Graphic Designers
Artists
Professionals42
Competition!
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Intellectual
Property is Key
to Gaining Advantage
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My Opinion:
We are in a Second “Industrial”
Revolution
The Internet has changed all the rules
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• People can live and work where they please
• People can live in Vermont but work for a company in Spain
• Companies can get bids on materials all over the world
• People can obtain services from all over the world
• You can Skype with people for little to no cost
• I talk with my son in China all the time
• I am in constant contact with my three daughters in other states
• Social and Business networking will only get bigger
• E-books have surpassed paperback books46
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Trademarks
A Federally registered TrademarkProtects
• Words, Symbols, Logos, Images…
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Growth in Trademarks
Number of US Trademarks Applications Filed
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
1990 1995 2000 2005 2010
Year
No
. Tra
de
ma
rks
File
d
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What’s Your Trademark Worth?
You can
keep a
Trademark
as long as
you pay the
renewal fees
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Trademark Example
The Wrap Professors, we put the PRO in Auto Pro Design.com
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Great Trademark Examples
Million Dollars Prizes
Branding
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Every day you are branding yourself!
Patents
TrademarksCopyrights
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Branding
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Branding
U.S. Copyrights protect original literary works,
dramatic works, musical works, and artistic works.
Copyrights
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Copyrights
BooksMusicPlays
Artistic Works
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Diversify
Books $15
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Copyrights - KEY
Work for Hire
Who owns the Rights?
Artwork & Tee Shirts
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Copyrights - KEY
Work for Hire
$35
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Estimated Value of Copyrights
Estimated value of copyrights in 2005 was 1.39 trillion or 11% of
U.S. GDP (MV of all final
goods and services).
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LEVERAGING INTELLECTUAL PROPERTY
THANK YOU!
QUESTIONS
COMMENTSAndrew R. Spriegel Esq.(440) 225-4234 Cell(330) 247-2211 Work/[email protected]
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Andrew R. Spriegel, Esq.Andrew R. Spriegel, Esq.Spriegel & Associates, LLCSpriegel & Associates, LLCPatent & Trademark Attorneys
Liberty Square Building110 W. Streetsboro Street
Second Floor, Suites L4 & L14Hudson, Ohio 44236
Phone: 330.247.2211 Fax: 330.247.2211Cell: 440.225.4234
[email protected] Invitations accepted on LinkedIn
www. smartwww. smart22patent.compatent.com
LEVERAGING INTELLECTUAL PROPERTY