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Dynasty Leadership Podcast

It's great if you can pick when you hand over the reins, but what if that time picks you? “Does your company consistently meet or beat the targets you set?" “Do you have the right team rowing in the right direction?" “Is there something going on in your market or company that threatens your growth? "Are you considering transitioning the leadership of the company?" “Is there a clearly articulated long-term strategy?" We specialize in guiding Family-owned businesses with 50-500 employees to become Succession ready.
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Now displaying: December, 2018
Dec 11, 2018

Craige Thompson is an Entrepreneurial Patent Attorney at Thompson Patent Law as well as an author and a speaker. On today’s show, Craige gives insider knowledge on why someone should pursue a patent and when it’s not a good idea to do so. He also explains what the patent process looks like and things to be prepared for if you did decide to patent your invention!

 

Key Takeaways:

[2:20] Craige explains what a typical patent process looks like.

[3:10] Are patents a big deal? Do we really need one?

[4:15] When does it make sense to patent a product?

[5:50] What does Craige mean by ‘invention harvesting’?

[8:00] You can also check out Craige’s book as well, Patent Offense, for more info.

[10:25] “I have checked everything and there’s nothing like my product out there!” Chances are, Craige can find it.

[11:05] What is considered ‘prior art’?

[13:15] What is a ‘point of novelty’?

[15:50] Rejection of your patent is a good thing. That’s when the negotiation starts!

[17:15] Craige shares an example of what a ‘point of novelty’ looks like.

[19:15] Once you have your ‘point of novelty’ answers, it begins to unlock all the business questions you need to determine whether this patent makes sense to pursue.

[21:25] What kind of profit are you looking at if you do patent this product?

[23:00] Thinking of an exit strategy? A patent could increase the value of your company.

[26:25] Craige explains how someone can prioritize their claim strategy.

[29:00] Are patent really only for the big guys?

[31:55] How much would it cost to get a quick assessment of whether a patent is worth it or not?

[33:45] What kinds of mistakes do people usually make?

 

Mentioned in This Episode:

Dynastylc.com

Thompsonpatentlaw.com

Craige on LinkedIn

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