Patent Attorney and Founder
Hi everyone, I’m J.D. Houvener, and welcome to the Bold Today Show, where you, the inventor, entrepreneur, and business owner, get your daily dose of inspiration to make the world a better place. Thank you for tuning in and hanging with us, and happy Friday, everybody. This is part five of the five-part series on your goal and moving your innovation into the marketplace to make money, as it should be one of your top goals.
So, we’ve been working through this challenge on how to identify and put up your goal right in clear terms, in color, with environment sound, touch, and feel. And now, you’ve got to position it on your desk. If you’ve been following the challenge this week, I’m getting that goal right in front of you, see it every day. So now, your challenge is to share it with parties, right? Share it with someone else, whether it’s a team member, your life partner, or someone in your family. Make sure they know what your goal is. It sounds funny, but oftentimes, your mom or your brother, they don’t actually know what you want, what you’re working so hard at in life, and what you want to achieve. By articulating it in words, getting better at saying it, you’re gonna believe it yourself and achieve it quicker.
In this fifth part session about how to monetize patents, we’ve talked about a lot. I talked about how to litigate, how to enforce your patents through the legal system. And there are two big ones, right? We’ve talked about the PTAB, the Patent Trial Appeal Board, federal litigation, taking someone to court. We’ve certainly talked about licensing, okay? So, giving up rights and value for money and selling out right, giving the whole invention away in terms of and giving the four rights to make, use, sell, and import to someone else in exchange for money. And there are different vehicles to do that.
In this session, we’re talking about something that you may not actually think about as a way to monetize initially, but it’s called defensive publications. Defensive publications are a great way to monetize if you’re a company or even an individual inventor that already has a sit in a portfolio, that has technology that they’re moving forward in the marketplace with, having success with, and they want to prevent competition from locking down other technologies that could compete with that.
So, let’s say you’re a lawnmower manufacturer, and you’ve got a top-of-the-line system for solar-powered lawnmowers. Okay, I’m just coming up with something here. But do you think that your competitors might still be in the combustion engine world and still be trying to make it so efficient that it might actually take some of your market share away? You might be incentivized to publish a defensive publication about a new combustion engine technology that you and your groups in the R&D came up with. You do this not to actually try to monetize it. Your whole goal is to go towards solar lawnmowers. But you want to try to prevent your competition, right? John Deere, let’s say, from putting out a new combustion engine that’s going to be able to compete with or do better than your solar technology. So, by this publication, you prevent John Deere or any other company from getting a patent on that technology because you’ve given it to the public. You’ve told the world how to do it. And therefore, when they try to file their patent application on that same technology, the examiner’s gonna tell them, “Sorry, this is not new. Someone’s already published this before.” And that was you. So, if this is kind of a sneaky way to monetize, hold true and hold to your market share that you have now in order to eliminate competition.
Well, hope this session has been fun. These five-part series about how to make money in patent law. So again, through the courts, through the legal systems, the Patent Trial Appeal Board, federal courts, licensing, selling, and through defensive publications. So, I hope you learned a lot. If you have any questions that still remain about how to make it big and go for monetization in patent law, feel free to book a 30-minute consultation with our firm. Our patent attorneys will be happy to talk with you, again at no charge for up to a half hour, just answer any questions you have on the subject. It’d be great to hear from you. And again, if you have any questions on what we talked about, feel free to comment below on Facebook, LinkedIn, Twitter, Instagram, wherever you’re viewing this. We want to hear from you and hear your feedback. I’m your host J.D. Houvener of the Bold Today Show. It’s been my pleasure. Have a good day, go big, go bold at boldip.com.