Question on Defending Patents

[Shaun @ Tru6]

Last year I posted about getting a patent for a new product we have developed. I had some good conversations with the sister of a Pelican here and will almost certainly go with her. Since then, we have another possible patent, more design than product.

But then I was talking to some smart folks the other day and they basically said that unless you've got serious 6-figures to back up the patent, don't waste your money.

The original product patent I believe is worth defending. the design patent not so much.

Anyone here have real experience defending a patent? Was it worth it? We have an investor lined up just for the patent, it's defense and product development. Wondering if that money would be better spent on product development and marketing.

[Rick Lee]

Kinda curious about the ROI on defending a patent. If you end up having to defend it, isn't it just a matter of losing as little as possible and not actually paying a dividend? Or does defending a patent involve a lawsuit for punitive damages that might attract investors? Just curious.

[RickM]

This is an age old question.

For two of the products I've developed my patent attorney advised me to hit the market (w/o patent) and make as much as possible...as quickly as possible. Doesn't hurt to build on the brand while your at it. Unless it's a long term revenue generator the investment may not be worth the effort.

[Shaun @ Tru6]

Originally Posted by Rick Lee

Kinda curious about the ROI on defending a patent. If you end up having to defend it, isn't it just a matter of losing as little as possible and not actually paying a dividend? Or does defending a patent involve a lawsuit for punitive damages that might attract investors? Just curious.

I'm curious as to how one is actually enforced assuming victory. Due to the nature of the product, international patents will have to be filed as well.

[lendaddy]

Originally Posted by Shaun 84 Targa

I'm curious as to how one is actually enforced assuming victory. Due to the nature of the product, international patents will have to be filed as well.

You asked for opinions so...

Screw the patent, just file for a pending tag and get it to market. The pending will keep the honest ones at bay and the dishonest ones don't care anyway.

Is this for the wireless "electric harness" we discussed a year or so back

[Rick Lee]

Originally Posted by Shaun 84 Targa

I'm curious as to how one is actually enforced assuming victory. Due to the nature of the product, international patents will have to be filed as well.

Oh, well I'm sure China will be real good in this area.

[MBAtarga]

I heard the guy that invented, and patented, the MAGLITE flashlight has spent Million$ defending it against all the knockoffs. Of course, he's made millions too...

[Shaun @ Tru6]

Originally Posted by lendaddy

You asked for opinions so...

Screw the patent, just file for a pending tag and get it to market. The pending will keep the honest ones at bay and the dishonest ones don't care anyway.

Is this for the wireless "electric harness" we discussed a year or so back

Good advice, but dude, why don't you tell the world. shhhhhhh!

[john70t]

Oh yeah right, like the world needs LucasII

I had this question for my attorney a few years ago when trying secure a patent for an efficiency electric motor design.
After hiring a professional search firm, and then spending my new-engine budget on the filing, the USPTO regected mine because of similar previous artwork from a guy in Taiwan(six months after I originally conceived of it).
I could have filed an appeal, but if the idea actually took off, everything gained could have been lost in an infringment battle.

In his opinion, the average costs for defending a patent for anything worthwhile were about $5mil, but if the lawfirm determines that the product and the suit have validity, they will take the case on contingency(50%?) with a retainer fee.

He basically said that the patent is only a right to sue. Winning and collecting is another matter which could be dragged out for years while the violator makes money, chpt11's, and moves to Tahiti.
The Wright brothers had an epic battle with Curtis over airplane design which lasted years and years and could have bankrupted them both.

[stomachmonkey]

Originally Posted by lendaddy

You asked for opinions so...

Screw the patent, just file for a pending tag and get it to market. The pending will keep the honest ones at bay and the dishonest ones don't care anyway.

Is this for the wireless "electric harness" we discussed a year or so back

yup

[stomachmonkey]

Originally Posted by Shaun 84 Targa

Good advice, but dude, why don't you tell the world. shhhhhhh!

hmmm,

sounds like something I was doing a few years ago and have had on the backburner.

if you need the domain let me know.

[Shaun @ Tru6]

Originally Posted by stomachmonkey

hmmm,

sounds like something I was doing a few years ago and have had on the backburner.

if you need the domain let me know.

it actually isn't the "wireless electrical harness" I thought up a year ago. that's worth patenting, but I don't have the R&D chops to do it and have very little wiggle room these days with the death of G9Girl and slow but sure growth of Little Traveler.

This product, while not really for the LT market, is at least inline with the company product strategy, but is honestly a company in itself.

Lots to think about here. We have very low 6 figures to launch it but the more I think about it (with input here), with or without a patent, we would need an honest half million $ to launch it properly and stay ahead of the game for a year or so, and need top shelf toy sales & marketing and licensing execs on board.

My gut says if we launch it small, we could attract talent and raise capital within 6 months to then take it to big box stores. I honestly think that if I just made a few prototypes and a business plan, it would be knocked off before I drove away from any given angel network's offices.

[stomachmonkey]

Originally Posted by Shaun 84 Targa

it actually isn't the "wireless electrical harness" I thought up a year ago. that's worth patenting, but I don't have the R&D chops to do it and have very little wiggle room these days with the death of G9Girl and slow but sure growth of Little Traveler.

This product, while not really for the LT market, is at least inline with the company product strategy, but is honestly a company in itself.

Lots to think about here. We have very low 6 figures to launch it but the more I think about it (with input here), with or without a patent, we would need an honest half million $ to launch it properly and stay ahead of the game for a year or so, and need top shelf toy sales & marketing and licensing execs on board.

My gut says if we launch it small, we could attract talent and raise capital within 6 months to then take it to big box stores. I honestly think that if I just made a few prototypes and a business plan, it would be knocked off before I drove away from any given angel network's offices.

Call me later tonight or over the weekend.

Done a couple of these raises.

Be happy to share info or be a sounding board.

[Shaun @ Tru6]

will call this weekend Scott, thanks man.