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Entrepreneurship
by Shawn Hessinger on May 13, 2007

This issue was also covered by Harry Goldburg, another commenter who was convinced both Dane and I were off our collective rockers. More on Harry's other great feedback later...
Certainly, Shelli Styles, founder of Strappity-do-da, a company specializing in handmade beaded bra straps from South America sought a patent for her product, but she and her mostly volunteer sales force didn't wait to try to get the unique item into numerous boutiques in Ohio until doing so.
Again, the focus here is on starting a business.
While patents and other intellectual property rights may be crucial once you've proved your business model to prevent imitators from flooding a market you've already created, the scenario of a larger company stealing a great idea is not as common as many entrepreneurs assume.
This is because many large firms would rather acquire an existing start-up, marketing channels, sales expertise and all, than steal the technology and have to start from scratch simply because of the time saved in getting an existing product to market.
As Don Dodge, Director of Business Development for Microsoft's Emerging Business Team explains:
The "barriers to entry" are most often market position, not technical brilliance...Most technologies can be replicated by a talented engineering group within a year or less. Many times a similar technology can be licensed immediately and a new product shipped within months.
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Permalink: Patents
Trackback: http://publish.creative-weblogging.com/publish/mt-tb.pl/68892
Mr Wong
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Response from:
Harry Goldberg
(05/15/07 1:39pm)
Response from:
Shawn A. Hessinger
(05/15/07 7:27pm)
I think patents are a great idea. So are copyrights. So are other protections for your intellectual property. But between the search and the registration you mention above we've now defined a price tag of $300 for start-up. That is a lot of money all at once to some people. And some businesses have been started with less. Do we need an attorney to draw up the papers too? What will his fee be? If you read the bra-strap post you will notice that Shelli did other things not everyone would necessarily think important. Like hire a press agent. The point is to do what you need to do and to get started. If you can justify the cost of a patent then by all means do so. If you can't afford it from day one, don't decide to shelf you dreams because you can't. Are you taking a chance? Yes. Just as you're taking a chance when you invest money into a business with no guarantee it will succeed. In terms of software, maybe there is a way to offer your new idea to the world free without intellectual property rights and find another way to monetize the process. Be creative. Find a way around the road blocks. Don't just give up.
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Here's the real deal, and I really don't understand how this site can justify giving this advice, but a patent protects you in a court of law. It lets the government know WHO thought of an idea first, so if it ever comes to fruition, you're protected. And if you're a small business, the price is reduced to $150. $150 to protect wat could be--and if you're investing in it, you believe WILL be--a sucessful product. Not getting a patent to save money is like not wearing a condom to save money...feel free, but the long-term costs far outweigh the smaller expense.
Also, doing a patent search (again for $150-$200) also prevents you from wasting your time AND getting sued in the future. Sure, you THINK you have a great bra-strap idea...then lo and behold, someone has a business called Strappidy-Do-Da that I'm not aware of. Guess what? It doesn't matter how much cash you've sunk into your invention, if Strappidy-Do-Da has a patent and she filed first, you lose.
There's no way you can justify NOT doing a patent search first, then obtaining a patent afterwards. Cut corners elsewhere...I have no problem with that... but you've created something that you're about to invest money in...as well as a lot of time...you need to know right up front if you're barking up a tree someone else planted first.