Business Metamorphosis LLC BML Logo

In This Issue

The Patent Jungle

One Pge Summaries

Opportunity Inventory

Quick Links

Our Blog

ITTR

Penguin

April 15 Seminar

Thanks to everyone who attended our April Seminar on Opportunity Managment. For those who missed it here's a link to an online version.

New Website

Our New website has just gone live. Please check it out at www.bmllc.net and tell us what you think. We much appreciate your comments on improving our site to serve you better.

Youtube Channel

Checkout the latest postings to our new YouTube Channel. You can find videos on many of the topics covered in the newsletters.

Newsletter Archive

To find back issues of the newsletter go to www.bmllc.net

Newsletter - April 2014

Please feel free to forward this newsletter to others who might be interested in our activities.

The Patent Jungle

I sometimes use the metaphor "The Patent Jungle" to describe what the patent process looks like to an uninitiated inventor. The patent process was designed by lawyers but it is really an amalgam of engineering and law. Something like what an engineering text book would look like if it was written by an attorney. The result is that an engineer seeking a patent can feel like he or she is walking through a dense jungle where unexpected beasts can pounce, make crazy demands for information, and ask for ridiculous amounts of money.

Unobviousness

One thing I often tell my clients is that in getting a patent you often need to do the opposite of what is taught in engineering schools as good practice for writing a technical paper on a new development .

In a technical paper you want to make it clear and obvious that the solution that you have devised is the only logical answer to the problem you set out to solve.

For a patent you want just the reverse. Patents are only granted on inventions that are "unobvious". So all those blind alleys that you went down to make your invention and always omit from your technical paper are your good friends in writing a patent application because they show that your invention was not obvious.

Also all the criticisms of your opponents , those people who said you and your idea were crazy, are also your friends. The famous inventor of FM radio argued that the supposed "obviousness" of his invention could be dismissed by anyone who read the comments of his critics at the time he first shared his ideas.

Office Actions

One of the next, usually unpleasant, surprises an inventor encounters is "office actions" . These are emails from the patent office most often denying some or all of the claims of the patent due to some legality most often "obviousness" relative to the Prior Art. I have 35 issued patents and I have never received one that went through without at least one "office action". Sometimes I think its just SOP for the patent office to reject all applications the first time they receive them.

The applicant gets three tries to persuade the examiner that his/her application is not blocked by the art the examiner cites. But that doesn't always work. Also each one of these "actions" runs up attorney bills for the inventor, often bills that were not expected. The wise inventor will budget for these thoroughly predictable charges. Its also important that the inventor understand that its not necessary to defend all claims until the last man (for its claims that are rejected in Office Actions).

Second Opinion

If you need help dealing with an Office Action, BML has a service to help you. Its called Second Opinion. There is not enough space here to describe it in useful detail but all you need do is click on the link and go to the place on the BML website where it is described in detail. There is even a form you can fill in to get a consultation to help you get started.

Maintenance Fees

There is another unpleasant surprise that is often visited on unsuspecting inventors. Its called a maintenance fee. Even after you have received your patent and paid your issuance fee the patent office is not through with you. Every 3 or so years it will hit you with a "maintenance fee". These fees escalate with time and are intended to get people to abandon patents they aren't using. If you invention is bringing in sizable amounts of money you may have no problem with this fee. But if you are not using the patent or if you have a whole portfolio of patents you may find yourself with a large expense that you hadn't counted on. This is the time to think about strategies such as selective abandonment or licensing of the less used parts of your portfolio. We can help with that also.

To learn more please email to rblazey@businessmetamorphosis.com

or give us a call at (585) 520-3539

Sales Tools- The One Page Summary

One of the first things we do when we sign up a new client at ITTr is prepare a one page summary of their offering. This document is what we use to identify potential buyers or licensees of the the technology that is offered for sale. Its a short highly visual document intended for distribution to a large number of targets. Those companies that are attracted by the flier enough to contact us can receive a much more detailed version of the offering which we call the "Executive Summary".

In preparing the one page flier we need to dispense with much detail and focus on the essential features of the invention. And particularity we need to write the summary from the point of view of the prospective licensor, not the end user.

Most inventors write their materials with the end user in mind. But that is not the person we are seeking to attract at ITTr. We are looking to engage the company that will make and market the product to the end user.

Thus although our prospective buyers are definitely interested in the end users prospective, they also have other perspectives. They for example want to know how difficult and expensive it will be to manufacture the product. The want to know if it fits with the market channels they have established.

None of those issues are of interest to the end user. So when prepare the one page summary we need to show not only what the product is, but who it will attract, why they should want to buy it and how much it will cost to make it.

There are many other items to think about when creating a one page flier. It needs to be visual and get the users attention quickly and give them the best presentation of your idea. One of the best ways to do that is with a video clip. We can and do imbed video clips in our summaries. If you have a Youtube video you prepared or better yet done by a professional we can make good use of it in building a flier.

So let us know what resources you have be they images, videos or endorsements and we can work out a flier that have the best chance of getting the prospect to take the next step and learn more.

To find out more contact us at the address below or learn more from the website.

write to rblazey@ittrifecta.com or call (585) 520-3539

Take an Opportunity Inventory

Those of you who had the chance to see my recent presentation on Opportunity Portfolio know that the second module in the OP process is called Opportunity Inventory.

In presenting the entire OP process I didn't have much time to go over the details of how an Opportunity Inventory is performed. In this article I will try to supply some of the detail that was not covered in the presentation.

Most businesses are aware of opportunities to do new things. There are lots of reports gathering dust on shelves in most businesses. What almost never happens is that these proposals are considered together and compared to one another .

The resources needed to implement them are not calculated nor is the effect on the company or the opportunities potential to supply needed growth. Mostly they are considered indifferently if at all (outside the product development organizations that produce them)

So to get started in comparing your opportunities you need to make a list of them. Each opportunity needs a name and a brief description. Sometimes in a larger organization, a name needs to be associated with each opportunity.

The names, and descriptions of the opportunities should form the first two columns of a spreadsheet ( I like to use Excel, but any spreadsheet will do).

When the initial list is completed, you need to add additional columns. These columns form the basis of comparing alternatives. I recommend Marketing columns such as market size, share, competitors. Financial Columns , such as manufacturing costs, projected investment, time to market, ROI etc. Finally, technical columns regarding manufactureablity, quality , etc.

There are whole processes devoted to defining these columns. One is called Quality Functional Design or QFD. There is specialized software devoted to this process that can be employed if desired.

Once the initial populating of the spreadsheet is done its time to build it out. We usually do this in a brainstorming session. The entries already made may suggest other possibly superior opportunities. We have this software at ITTr.

Lastly a process of ranking is done. This usually happens after enough details has been filled in that the opportunities can be intelligently compared. Since its usually not possible to implement all the opportunities, ranking them allows an intelligent choice of the top several opportunities. Those chosen then move on to the next stage of the OP process. Making Action plans.

We will talk about Action Plans in a later newsletter. But if you want to learn more now just contact us.

You can email me at : rblazey@rochester.rr.com, Call at (585) 520-3539. Or visit our website by clicking on this link

We appreciate your responses to our newsletters. Please send us your comments. We are always interested in what you want to know.

Sincerely,

Richard Blazey
Business Metamorphosis LLC

Disclaimers

Please realize that this newsletter contains only our opinions on patent matters. We are not authorized to give legal advice. If you are seeking such advice please contact an attorney.

Referrals Welcome

We are never too busy for your referrals. If you know someone who could benefit from any of our services, please introduce them to us by phone or by email. It will be much appreciated.