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 Newsletter - April  2015
 
  Please feel free to forward this newsletter to others who might be interested in our activities.   


You just saw your invention on Amazon 
Don't give up now .  Buy it

 

Many inventors are surprised when they first start looking for something like their invention on the Internet.  Most often their response is dismay.  Usually they are under the impression that since they hadn't seen their invention anywhere else and it solves a key problem that there is nothing else in the world like it.  

 

That is not always the case.  The old saw "There's nothing new under the sun"  turns out to be true.  Not only are their other people out their trying to solve the same problem the inventor solved , but there are previous solutions kicking around in the literature and in patent filings that were never commercialized.

 

I don't have the number but I recall there were hundreds or perhaps thousands of inventors trying to make the first light bulb as there were also a great number trying to make the first airplane, including some who were very well financed.  The Wright  brothers were in competition with Samuel P. Langley who had lots of government money behind him but non the less failed.

 

The important thing is that an inventor have the best solution to a problem.  Not necessarily first or only solution to the problem.

 

I once had a client who invented what amounted to a spray can on the end of a pole (to kill wasps safely).  He was surprised  when our patent search turned up essentially the same idea.

 

But then when I asked him my favorite question for these situations he had a good answer.  I said "if your invention and his were side by side on a store shelf, why would someone buy yours over his".  The answer was illuminating.  

 

Because,  he said.  "Mine would be half as expensive".  So in writing  his patent application , the emphasis was not on the spray can on a pole, but on the features of his invention that made it half price.

 

So if you see your invention in a store or online,  buy one.  Then compare it to your invention.  If its as good or better than yours it may be time to do something else. but if it is not as good or has flaws that you can improve upon, then you may still have a patentable invention.

 

The item you saw in the store is  "prior art"  and you might have to pay the owner a license fee if you patent an improvement, but its possible he didn't patent the idea or the patent has expired or he might be willing to cross license with you. And if you need more  help finding out if your idea is novel, just contact us using the information below.

email  rblazey@businessmetamorphosis.com 

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

 


Licensee Perspective- The Little Red Hen

Many years ago I wrote a business parable based on the nursery story of "The Little Red Hen".  As I've continued in business I've realized more and more how true that story is.  

As a reminder the story goes this way:  The little red hen wants to make fresh bread and so she goes to various animals in the barnyard to request help.  However none of them are willing to support her, so eventually she makes the bread without  help. 
After the bread is made all the animals who refused to help her make it are eager to help her eat it.

The similarity of this story to start-up  companies is obvious.  When the company is struggling to get started very few want to help.  This is particularly true of funding sources like banks, venture capitalists and angel investors.   However once the company has demonstrated its value, particularly by generating rapidly growing revenues, the "other animals"  are now eager to lend money so that they can collect part of the rewards.

This natural propensity applies also to companies that might license a new technology.   The closer that technology is to generating revenue, the more interested they become.

Its quite rare to find investors willing to fund early stage work to help start-ups across the "Valley of death"  (as it is described by Clayton Christensen and others).

This is one reason ITTr created the ROTH scoring system.  It measures how far a company has come in crossing that valley and therefore how easy it will be to get a prospective licensee interested.

Also, it  is very important is the alignment between the ideas and the licensing company.  If the invention is something that easily fits into their existing product line without a lot of additional cost and time being spent, its an easier sell.

Another thing that is very important here is market channel.  If the target company has no current channel to the market for the new product it will be very hard to interest them, as the establishment of a market channel can be very costly and time consuming.  This is one point many inventors who are engineers and not marketers seldom understand.

So if you want help making your "bread"ask ITTr for help.  We may find someone who wants to help you and not just eat your profits.




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

Treasure Maps and Sherlock
Penguin Logo
One of Penguin's services is called Sherlock.  Set up originally to find unusual objects,  Sherlock has expanded to find information that leads to those objects.  Think of the following example.  You are searching for buried treasure.  Sherlock won't find the treasure but it can help you find the treasure map.

So for example you might wish to find a buyer for an Antique Sofa you own.  You could list it on Ebay but then you might have to ship it across the country.  What you would like is a local buyer who can take a look at the sofa and if they want it have it picked up from your house.

What Sherlock can do is identify the possible buyers for your sofa.  For example we can prepare a list of decorators,  or auctioneers or antique dealers.  We can even contact those folks and tell them that your sofa is available.

Sherlock is not a broker so we can't actually make a deal for you in the scenario I've described.  We simply gather the information for you that allows you to make the deal  yourself.  Once you know who might be interested in your sofa and how to contact them you can take it from there.

Sherlock has found a number of interesting things from antique desks to Ponzi schemers.   To see if we can help you find what you are looking for contact us at the address below.

to rblazey@rochester.rr.com or
 visit our website at www.RochesterPenguinGroup.com
 
or call us at (585) 520-3539

We appreciate your responses to our newsletters.  Please send us your comments.  We are always interested in what you want to know.  See the New Letters to the Editor link in the block below
 
Sincerely,
 

Richard Blazey
Business Metamorphosis LLC

Comments and Letters to the Editor

 

To Readers of the BML Newsletter:

 

Many of you have wished to comment on articles in the newsletter and up until now there has been no mechanism to do so.  Now if you wish to comment you can just reply to this article.  Please mention the issue of the Newsletter (Month, Yr) and the title of the article you are commenting on.  Add your name if you wish

 

Best Regards,

 

Dick Blazey

 




 

Disclaimer

 
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.
 

 

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