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Patent protection warning

PostPosted:Sat Jan 25, 2003 10:34 pm
by Sedgewick
Based on past experience, your patent is only as good as how much cash you have to back this up. The smallest change in the product can turn into a new patent so now you have a house full of lawyers to contend with. So if you don't mind losing and are willing to gamble the rest then go for the powerhouse if you believe in what you have. If you share the idea you run the risk of losing the product as unfortunately there are many who will run with your idea and not look back. So what can a person do when you don't have the purse strings to tug on.

PostPosted:Sat Jan 25, 2003 11:27 pm
by Steve
I would like to add that you should NEVER EVER share your idea if you're aiming at a patent. Idea theft isn't the only reason - any patent office will reject your invention once it has been made public.

PostPosted:Thu Apr 10, 2003 7:32 am
by Michael D. Grissom
Read the answers to these concerns you have on Money4Ideas.com and on the Inventor's Digest site -- you may change your mind. I have only had one stolen and two attempted patent thefts from me in 35 years. It only cost me $960 to get the stolen one back via the USPTO. If you are a one-shot-wonder with a really great INVENTION (not IDEA or CONCEPT) then, by all means go for a heavily experienced patent attorney who can get as many claims as is possible for you.

One very rich inventor wrote an artcle for Inventor's Digest explaining how he made his fortune by sending his patent, all drawings, and a signed "permission to steal" letter to third world countries on the condition that they can market without license or royalties to everywhere in the world except the USA. All he ask is that they supply him for all US sales. From patent to market is typically 85+% of the time and money involved and because of these deals, he didn't have to spend a dime. The point is, if you can make 2 million dollars without investing anything, why should you care if they make 20 million. How much do you need?

Remember, the guy who invented Velcro went to his grave pennyless for fear someone would steal it from him. Same thing happened to the guy who invented the QuickWrench that's now one of Sears hottest sellers. He wanted so much that Sears simply waited for his patent (#3785226) to expire before marketing it. Sometimes an inventor can truly be his/her own worst enemy.

oops,... got long-winded again. sorry!