When and Why to Patent My Product Meetup Recap
On March 18, 2015, Focus Product Design hosted the Meetup “When and Why to Patent My Product Idea” featuring Bay Area Patent Attorney, Chris Peil.
Participants had a truly rare opportunity to learn the ins and outs of patent law and patenting new products. After an hour and a half Q&A with Peil, most of our questions were answered, but if you attended the Meetup, and didn’t have the chance to voice your question, please share it at the bottom of the blog, and we will try to help answer it.
We heard unique - and sometimes startling - patent anecdotes, including the burglary of IP from a woman’s locker. These real life examples proved the utility of having an in-depth knowledge of Patent Law on hand.
One woman’s story... Someone stole my journals of intellectual property from my locker (true story!), and pursues the technology therein. Are they entitled to the patent if it was, first and foremost, my idea?
The answer - yes, and no. It’s a first to file law, meaning that if someone else files your idea before you, then they are entitled to the patent. This holds the patent, unless you can prove with dated documentation that you are the inventor. The moral of the story: Record and save everything during development, (i.e. email correspondence, drawings, journals) because you never know when this derivative material will come in handy.
The Top 4 Meetup Questions and Responses
What does Patent Pending mean if someone designs a product like mine?
You do not have assertable rights until you have an actual patent. But once a patent is granted, you can do something retroactively.
What is public disclosure?
It can be a simple as telling an idea to your friend. “Hey, I have this idea..., what do you think of it?” Caution is the best advice when sharing your ideas with friends and coworkers. A crowdfunding campaign is a public disclosure, and triggers a one year grace period within which you have to file a patent.
How can I remedy a careless public disclosure?
To remedy an accidental or premature public disclosure, you can continue developing your product into a new design.
Are patents only useful for companies with deep pockets?
Many people believe that patents are worthless unless you have the money to defend them. Chris Peil gave us a great example of how that’s not the case if you’re a small company with a great idea! For a small size company, a patent is a excellent marketing tool for attracting investment. How does this play out? Many small startups actually use their IP portfolio to position themselves as acquisition targets. If an investor likes your idea, they purchase your patent and fund the remaining development.
This is actually a reasonable business strategy. You make money on it, then when it’s done it’s done and you’re on to the next one. Designing new products is the best part anyway, right?
The “When and Why to Patent My Product Idea” Meetup was a great chance to hear the perspectives and questions of entrepreneurs like you. To finish the recap, let’s revive one of the first questions asked of the night: Can I do a patent myself? Yes, you can, but as Chris Peil said, most people that file themselves end up consulting an attorney or agent in end to review their application.
Disclaimer: Focus Product Design and the Law Office of Christopher Peil present the materials and information for informational purposes only. These materials do not constitute legal advice. Accordingly, you should not act or rely on any information received in the blog without seeking the advice of an attorney licensed to practice law in your jurisdiction.