How to Patent an Idea (4 steps)

How to Patent an Idea Making money off of your million dollar idea, can be rewarding, but it is not easy. Often times, to become successful, an inventor must build a business around their new product idea, or they must sell their idea to another company. Making millions of dollars off your first idea takes Read more about How to Patent an Idea (4 steps)[…]

Dangers of Making Money From an Invention

So you have a great idea. An idea which will change the world.  Your idea will make the world a better place, improve everyone’s way of life while still being profitable.  You create a prototype and prove it works.  The numbers show that your invention will make millions while costing very little.  A large company, Read more about Dangers of Making Money From an Invention[…]

Recent Supreme Court On-Sale Bar Case

On January 22, 2019, the Supreme Court ruled that a commercial sale of a chemotherapy drug to a third party who agreed to keep the invention confidential, was enough to trigger the On-Sale Bar and prevented the inventor from suing for patent infringement. The sale of the invention placed the invention “on sale” and because Read more about Recent Supreme Court On-Sale Bar Case[…]

How Patents Protect Your Business

Patents Protect Your Business Patents are usually considered as being the holy grail for inventors with sometimes strange or wacky ideas.  However, Patents are more often used by businesses and can provide a savvy entrepreneur with significant growth opportunities. Many businesses can benefit from protecting their technology or innovation from competitors, including those in manufacturing Read more about How Patents Protect Your Business[…]

101 Series – How to Get a Patent in 5 Easy Steps

How to Get a Patent In the United States, a patent is issued by the United States Patent Office.  To get a patent, they will need to register your patent and to register your patent, you will need to file an application.  However, before we get too far ahead of ourselves, we need to take a Read more about 101 Series – How to Get a Patent in 5 Easy Steps[…]

Racing to file a Patent Application for Blockchains

Race to File a Patent Application Why would an inventor file a patent application covering a blockchain? Recently, many American and Chinese inventors have filed for patent applications covering blockchain technologies. IBM recently was awarded a blockchain patent (US Pat. No. 10,091,228) for detecting network security breaches. Currently, IBM has 89 blockchain patents, while Alibaba (a Read more about Racing to file a Patent Application for Blockchains[…]

IBM patents add 1.2B to revenue

IBM Patents add almost 1.2B to IBM’s revenue.  That’s 1.19 billion dollars to IBM’s revenue as a result of its intellectual property licensing.  This also includes 82.5 million which a jury recently awarded to IBM in a patent infringement suit against Groupon for infringing four of IBM’s e-commerce patents which were awarded back in the Read more about IBM patents add 1.2B to revenue[…]

Searching for Patents Can Save Money

Searching for Patents can Save Thousands of Dollars. Recently the U.S. reached its 10 millionth patent. Internationally, there are more than 1 million patent applications filed each year but only about 50-70% of them result in a patent. A conservative estimate for preparing and filing each application is around $10,000. This means that the odds Read more about Searching for Patents Can Save Money[…]

Plant Patent Provides Monopoly for Holiday Flowers

U.S. Plant Patent Many of us associate the holiday season with Poinsettia Plants. However, few people realize that it was covered by a plant patent for over a hundred years. Like the poinsettia plant, its history, is colorful and interesting. It also provides an example of how valuable a patent can be, namely, Plant Patents. Read more about Plant Patent Provides Monopoly for Holiday Flowers[…]

What is a Patent?

What is a Patent?  Patents are basically ownership of a tool, product, or process and once ownership of a patent is obtained, anyone hoping to use the patent must pay the owner money which is typically provided under license.  This payment is sometimes referred to as a royalty. Ownership of a patent is like owning property and Read more about What is a Patent?[…]