Posted on August 22, 2023
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. We’re here in our five-part series, and this is day 2. We’re talking about how you can reach your dreams as the inventor and entrepreneur that you are.
I’m sure you’ve got these big goals, and I’m so proud of you if you hit the challenge yesterday, which was to clearly define, yeah, as much as you could about your invention, right? Get really big down to detail. We talked about one of my heroes, Napoleon Hill, and his definiteness of purpose idea that he launched in “Think and Grow Rich.”
So today, you’re challenged to take it one step right. You’re gonna need to describe your goal, your dream, in terms of not this detail but environment, okay? It makes you kind of think outside the box where you need to describe what it’s gonna feel like to achieve that goal. I want you to write down the emotions you’re gonna feel, write down the smells you’re gonna smell when you step into that new house or open the door of that new car or about that rose garden. What’s that gonna feel like when you get there and you reach your dream?
So write down, if you can, explore, have fun with this, with different types of responses in your environment of your goal. Make it as real as possible.
Alright, so we’re still talking about monetization, right? Making money, the part of reaching your dream in the patent world. So we talked yesterday about the PTAB, which is one way to arbitrate. And so through the PTAB, that’s one way you can get a judicial opinion on validity, and that way, you’re able to get a full different claim and get the right justice in terms of infringement. You can get royalties, you can get decisions on all right sales, and get damages from those outcomes. You can get those through the PTAB, the separate body that was created by the American Invents Act.
You can go through the courts, which includes the federal court, and that’s today’s topic is filing suit in federal court. 35 USC Section 271 outlines what infringement means, and it’s truly the opposite of what the patent rights give. When patent rights give you the ability to exclude others from making, using, selling, importing into the US, okay? And so patent infringement is there for use, making something or importing it without permission. So if you can prove that a party’s doing that, especially if they were on notice, you’re gonna need to go through the federal courts to be able to get the full authority and get that decision made in your favor, and that can lead to quite a big royalty, big damages, much like it could in the PTAB. The federal court is the traditional way of getting a resolution on an infringement matter.
So as you’re going about your day, getting your dream more solidified and pouring the environment, understand that patent laws and the way they’re structured, especially with infringement as we just talked about, they’re built to make sure the inventor gets what they own right. All the hard work you fed on your invention, the government is making that promise to you by putting these types of statutes in order so that you can get that right information and get it protected and enforced at the right level.
I’m your host J.D. Houvener, and thanks for tuning into the Bold Today Show. If you enjoyed today’s lesson, please give us a thumbs up on Facebook, share it on Twitter or LinkedIn. We’d love to hear your comments, and if any of your friends have a good day. Go big, go bold.
