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Any PATENT agents/lawyers around here?

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A friend has a nifty idea for a standard household item and wants to either partner up with a patent agent or just approach a company for royalties.

 

 

Obviously I can't divulge his idea but it definitely has merit.

 

A brief patent search has not produced much competition.

 

 

Thanks

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A friend has a nifty idea for a standard household item and wants to either partner up with a patent agent or just approach a company for royalties.

 

 

Obviously I can't divulge his idea but it definitely has merit.

 

A brief patent search has not produced much competition.

 

 

Thanks

 

Sorry to crush your buddies dream, but the Rotato has already been invented (jk...and a little embarrased that I know of the Rotato). :lol:

 

I remember being told a very long time ago, when looking to patent something, enclose the details in a self-addressed envelope, seal it, mail it to yourself, and NEVER open it. If it ever goes to trial, the postmark would be sufficient evidence.

 

I have no idea whether there is any merit to this or not, but interesting nonetheless.

 

HG

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Application fee is only $100 in Canada.. but you have to pay yearly maintenance fees to keep the concept active.. miss the payment and your patent is void and not revivable.

 

A patent agent or lawyer is going to add, at minimum $4000 to the equation... more than likely $7500.

 

Defending the patent if some big corp decides to copy it anyhow... out of most peoples price range... and I'm speaking for experience there. I own all the patents for Enviroseal electrical boxes (plastic box, foam seals for wire push thru and snap over vapour barrier wall board sealing ring). Thomas and Betts copied them and flooded the market with their product, already having ins with CTC / HH / HD / Ideal / Westburne etc, and not much we could do to defend it.

 

Trying the royalty idea is a gamble ,, big gamble,, that requires some real finese to not get taken for the idea. As HG points out... a real good spot to send your idea to yourself registered mail and never open it... in fact send it Registered mail to your lawyer as well and instruct them to do the same.

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irishfield, about those electrical boxes, why dont they have a type of glue or stickyness to the outter foam, they dont get a true seal as is, atleast they werent a good seal on the ones in the house i insulated, vapour barriered and drywalled.

Edited by worm dangler

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Sorry to crush your buddies dream, but the Rotato has already been invented (jk...and a little embarrased that I know of the Rotato). :lol:

 

I remember being told a very long time ago, when looking to patent something, enclose the details in a self-addressed envelope, seal it, mail it to yourself, and NEVER open it. If it ever goes to trial, the postmark would be sufficient evidence.

 

I have no idea whether there is any merit to this or not, but interesting nonetheless.

 

HG

 

is a rotato a peeler?

 

Unfortunately, from what I understand the envelope thing was abolished about 15 yrs. ago.

 

Thanks!

 

Application fee is only $100 in Canada.. but you have to pay yearly maintenance fees to keep the concept active.. miss the payment and your patent is void and not revivable.

 

A patent agent or lawyer is going to add, at minimum $4000 to the equation... more than likely $7500.

 

Defending the patent if some big corp decides to copy it anyhow... out of most peoples price range... and I'm speaking for experience there. I own all the patents for Enviroseal electrical boxes (plastic box, foam seals for wire push thru and snap over vapour barrier wall board sealing ring). Thomas and Betts copied them and flooded the market with their product, already having ins with CTC / HH / HD / Ideal / Westburne etc, and not much we could do to defend it.

 

Trying the royalty idea is a gamble ,, big gamble,, that requires some real finese to not get taken for the idea. As HG points out... a real good spot to send your idea to yourself registered mail and never open it... in fact send it Registered mail to your lawyer as well and instruct them to do the same.

 

Buggers!!!! :angry:

 

You've echoed his worst fears!

 

I told him a patent is only a licence to sue.

 

You can probably see where I was heading.

 

Get a patent agent/lawyer to partner with you to reduce the expense or go for the royalty.

 

Seems that unless you already have millions to back yourself legally, you'll be robbed, openly.

 

It's basically, the 1st to market wins.

 

My advice was:

1. Forget getting rich

2. Partner with a patent agent/lawyer who believes in the product.

3. Share the status of co-inventor with the patent agent/lawyer as long as they sign a confidentiality agreement and agree to develop the submission of the patent document/application/claims for part ownership.

4. Licence the invention for royalties shared with Patent partner.

5. Accept 49-51% of something with some meager royalties is better than nothing!

 

How does that sound??

 

Thanks

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My advice was:

1. Forget getting rich

2. Partner with a patent agent/lawyer who believes in the product.

3. Share the status of co-inventor with the patent agent/lawyer as long as they sign a confidentiality agreement and agree to develop the submission of the patent document/application/claims for part ownership.

4. Licence the invention for royalties shared with Patent partner.

5. Accept 49-51% of something with some meager royalties is better than nothing!

 

How does that sound??

 

Thanks

 

It sounds like Sec. G7 on Zorgon has at least one very clever resident.

Jim

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irishfield, about those electrical boxes, why dont they have a type of glue or stickyness to the outter foam, they dont get a true seal as is, atleast they werent a good seal on the ones in the house i insulated, vapour barriered and drywalled.

 

 

If they were ours.. the front face of the box is weatherstripped.. plastic vbarrier goes over top and the snap ring holds the vapour barrier tight to it... and you cut out the rectangle of plastic over the box. The foam on the outer face of the sealing ring just sits against the drywall/panelling etc. Although it pretty much does there is no need for it to seal perfectly.. that's the vapour barriers job.

 

Thomas and Betts inferior.. lighter plastic junk.. can't speak for them !

 

Snag... get him for 10% as an advisor! lol

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It sounds like Sec. G7 on Zorgon has at least one very clever resident.

Jim

 

Yeah,

 

It's the zombie quadrant.

We feed on brains.

 

You are what you eat! :blush:

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Snag... get him for 10% as an advisor! lol

 

 

Will do!

 

It's very frustrating.

 

My buddy might just give up. <_<

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go ahead with the patent ... it is not a gurantee but if you do get it the patent has value if you ever plan on selling the idea .. and a patent lends HUGE weight to any royalty agreement ... yes it is expensive to sue .. but often it works both ways and many companies who want to 'rip off' the concept would rather settle than get dragged through a nasty patent suit ... at te very least it buys you 18 years to get your plans together for taking it to market ... but dont forget it needs to be patented in Both US and Canada ...

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but dont forget it needs to be patented in Both US and Canada ...

 

does that mean i can introduce the rotato in say... china?

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I own 3 patents and can tell you that most companies will not infringe on your patent and if they do then you should welcome suing. When a company infringes on your patent you are entitled to all of their gross profits without doing the work so consider the expense of suing far less expensive then your costs of marketing, the bonus is you get customers who may not have given you the time of day previously.

 

Patent costs begin at $10,000, $5000 for the provisional and $5000 for the full patent application, it is very unlikely that a patent lawyer will partner with you. More complicated patents cost more, do not do this yourself!

 

If you share your information with anyone then you must have them sign a non disclosure agreement. Not signing a non disclosure agreement means the information is now public and is not patentable. You should sign a non disclosure agreement for your friends sake.

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Thanks Vanselena,

 

Interesting point.

 

I guess the fear is having to fight a company if you do not have a 3 patents (U.S., Canadian and International)

 

 

I'm wondering if he can approach a company without a patent to negotiate a royalty agreement?

 

 

I can tell you that this is a very simple, add-on product that could be stamped out.

Meaning, the claims will be uncomplicated and cooooould be drafted by my friend. Risky I know but he does not have the money to fork out at this time.

 

The idea of partnering with a patent agent is that they will see how simple it's claims and production would be which may interest them in becoming involved.

 

A patent agent could whip up the application with all claims and diagrams in an afternoon.

 

Tricky business this patent stuff.

 

You will see this product folks.

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I should have been more clear

 

I have 3 separate patents that are for USA and Canada. You have 1 year after the patent has been published to patent in other countries.

 

You do not need a patent to talk to companies to raise funds or develop partnerships a non-disclosure agreement is sufficient. That being said you may want to register a provisional patent with the Canadian and US patent offices. This will give you protection without a large cash outlay, you can do it yourself and you are not writing down claims at this point in time, claims are added when you finalize the patent. That being said any new ideas added to the finalization will be dated at the time the new ideas are registered.

 

In your case where funds are limited spend the $100 and file a provisional patent. Use a NDA with anyone you talk about concerning the invention. Find someone that is willing to fund your idea (the best candidate would be the company that will be most impacted when your product comes to market).

 

In the past 2 years our company has brought 3 products to market and 2010 we have 8 more products scheduled.

 

Let me know by PM if help is required.

 

 

Matthew

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I'm wondering if he can approach a company without a patent to negotiate a royalty agreement?

 

You can, but they must sign a disclosure/confidentiality agreement, it really will not stop you getting screwed though. However, it maybe the best strategy. If it is an add-on to a pre-existing product, approach the companies that make the product.

 

Figure out if you really think the product will make money. Most patents <1% actually generate any money. If you honestly believe that the product will be bought by tons of people, filing a patent is not only worthwhile, but essential. Otherwise no company will ever touch it. You would be amazed how many treatments for disease slip by because the inventors never protected it. Therefore, no company will put money in developing it if their rival can also make it.

 

Just bear in mind most patents make no money, so ask yourself if it is really going to be worth it.

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I should have been more clear

 

I have 3 separate patents that are for USA and Canada. You have 1 year after the patent has been published to patent in other countries.

 

You do not need a patent to talk to companies to raise funds or develop partnerships a non-disclosure agreement is sufficient. That being said you may want to register a provisional patent with the Canadian and US patent offices. This will give you protection without a large cash outlay, you can do it yourself and you are not writing down claims at this point in time, claims are added when you finalize the patent. That being said any new ideas added to the finalization will be dated at the time the new ideas are registered.

 

In your case where funds are limited spend the $100 and file a provisional patent. Use a NDA with anyone you talk about concerning the invention. Find someone that is willing to fund your idea (the best candidate would be the company that will be most impacted when your product comes to market).

 

In the past 2 years our company has brought 3 products to market and 2010 we have 8 more products scheduled.

 

Let me know by PM if help is required.

 

 

Matthew

 

Thank you Matthew that is very kind.

I might take you up on that.

He has a few things he wants to finish designing but any help down the line is much appreciated.

Your strategy seems logical.

 

 

You can, but they must sign a disclosure/confidentiality agreement, it really will not stop you getting screwed though. However, it maybe the best strategy. If it is an add-on to a pre-existing product, approach the companies that make the product.

 

Figure out if you really think the product will make money. Most patents <1% actually generate any money. If you honestly believe that the product will be bought by tons of people, filing a patent is not only worthwhile, but essential. Otherwise no company will ever touch it. You would be amazed how many treatments for disease slip by because the inventors never protected it. Therefore, no company will put money in developing it if their rival can also make it.

 

Just bear in mind most patents make no money, so ask yourself if it is really going to be worth it.

 

You're right Dutchy.

It's an add on but the original manufacturers would definitely want to incorporate into their line or develop a new line.

The add-on would still be used on multi-millions of the product which has been around since the 40's, internationally.

 

My reasoning for partnering with a patent agent was primarily for the application verbage and most importantly a THOROUGH investigation of previous or existing patents that the layman may miss or not have access to on a home computer.

 

 

Thanks again guys!

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