Living on the edge of patent marketing

Patent - Be in the know.

2009-09-17T01:35:00.000-07:00

Recently, Amy and I were given the opportunity to go to the British Library Business of Innovation talk, to have the chance to listen to some of our clients and pick up any ongoing concerns inventors have when entering the world of patenting and developing an idea.

The three most commonly asked questions seemed to be in reference to;

Funding

Confidentiality

Lack of understanding

So, with this in mind, I thought I would do a couple of bloggs giving inventors a bit of advice when it comes to entering the world of patenting and invention. The first blogg will give advice on funding.

Funding

Funding is a big issue when you first start a new project. "How much will it cost me?" "Are there any hidden costs?" "Where can I get funding?" and so on.

In terms of total cost, it is a difficult sum to estimate as each project is different and can go in a number of directions. In terms of product, some companies offer to take a product on for a percentage of the end result, others charge fees up front. It is important to always try and remain in full ownership of your Intellectual Property, so that you are able to have as much of a say as journey to the open market and reap the benefits.

Patent costs can be high, but initially, to file for your patent, a fee of £200 will be applicable, after the 12/18 month initial filing period. Renewal fees are something that must be considered as a patent if renewed as required can be valid for up to 20 years!

Types of funding available are as follows:

Debt - Loans, these are beneficial as you do not give away ownership, although cheaper to establish there is always an element of repayment risk
Equity - From friends, family, investors. This route makes it harder to keep ownership, you can compose a shareholders agreement, and money is made in shares
Grants - The best form of funding, but harder to come by. There is no repayment, and there are a number of different grants available, such as Local Authority Grant, MOD grant for innovations to help defense and so on.

The British Library can answer a number of questions with reference to finance or marketing with their in house speaker Johnny Martin who can be contacted on johnny@johnnymartin.co.uk, the British Library is also a great source of information and have their own grants section called "Grant Net" or "Grant Finder"

Next Time - Confidentiality

Project X leads the way..

2009-09-09T02:18:00.000-07:00

Having a spare 5 minutes is a rareity these days at Innovate, but whilst the phones are quiet, I thought I would take advantage!

Things have settled down a bit now that Amy is back from China, Kathryn (the new researcher) has been here a couple of days now and seems to be fitting in well, so things are getting back on track!

Project X is growing by the day, with a number of people getting involved and loving the idea. It will be keeping us seriously busy when the launch happens and its' launch date is creeping closer by the day, it's a very exciting prospect for the company. No more adoptions this week, so life is a little calmer and it's great having a full office again, even if you can't hear yourself think! :)
I don't have a picture for you this time, sorry, but I will make sure I have a couple on the next blog!

Flying at the Speed of Sound

2009-09-04T02:45:00.000-07:00

So, its been a while since I last posted, but things have been pretty hectic here lately what with Amy being in China and Innovate expanding quite rapidly! We have a new researcher and marketer starting next week...the office changes at least once week at the moment trying to fit everyone in and there is alot going on!

Project X is coming along nicely and is being developed as we speak, we are aiming to launch mid September so keep your eyes peeled for that one!

I re-homed a puppy, called Moss, earlier last month who was abandoned, so things have been hectic at work and home, if I'm not chasing my socks round the garden I'm chasing searches round the office! But it's all good fun and nice to be busy..shame about the weather.

Entering a new chapter with Innovate Design

2009-07-31T03:17:00.000-07:00

So! I have recently joined the rapidly expanding team at Innovate Product Design. Having graduated last year with a BSc Hons in Business Marketing, this is a positive move forward!!

Innovate Design help with initial ideas, patenting, design, prototyping, researching and general queries. If you've had a recent brainwave, you can click on the links above to find out more!!

Now coming to the end of my first week, I am feeling fully settled, loving the job and suddently the office has gone mad with facebook, Buzz, Digg, Linkedin and nutty profile pictures for the improved Website, which is a bit of a giggle!