Patent Attorney and Founder
Hey everybody I’m JD Hooven er your host of the Bowl today’s show where Q the inventor or entrepreneur get your daily inspiration to make the world a better place [Music]
well you’re talking about step 7 on how to get a pet on your invention we’re talking about marketability today this is a huge step that cannot be missed in order to determine if your patent will be successful you know even if you assume the fact right it’s a big assumption that your invention is going to get granted as a patent do you know if it’s going to be successful you really don’t know that unless you’ve done the work to see if it has marketability right will your product actually have space in the market is it in demand how big is the industry what are the regulations how is this gonna get to customers or to other businesses on a b2b scenario to get sold right what is the mechanism and are there any issues about what else is happening in that space whether it’s shrinking or growing this is the industry the market and they really focused attention to detailed market analysis that needs to be done right up front we offer that here at bold patents we know and you’ll see on our website at bold patents calm under what’s called the patent success matrix this matrix while it sounds kind of complex is made up of two axes so just yesterday we talked about patentability and how important it is to know whether your invention is novel non-obvious and has utility that’s patentability today I’m talking about marketability right how much potential is there for market growth and capturing a certain segment of that market with your product so the more marketable the more patentable the green right the more success you’re gonna see in the end but if something looks like there may be kind of a crowded space that marketability look sort of tenuous and patentability even though it looks fairly good that’s looking more like a yellow right maybe kind of a tough decision for you to make as a business owner but if you’ve got low patentability low marketability it’s a no-brainer you’ve done the diligence and unfortunately you found that this product or service really is a no-go and and you can thank yourself later because you’ve likely saved yourself an enormous amount of time money and effort in pursuing that endeavor that was destined for failure doing the hard work upfront is always hard to do it’s always one of those things that you can look back in hindsight and say I wish I would have done more research I wish I would have prepared more we’re gonna add you to do that we’re cuber you’re a counselor an advisor we’re not here to hustle and take your money we want to make sure that you and us are on the same page and we’re right there with you side by side believing in your product knowing that it’s going to be a win and make a return on investment that you’re looking for I’m your host JD Huebner of the bold today’s show it’s been my pleasure talking with you you’re here today about step 7 on how to pad your invention go big go bold