Patent Attorney and Founder
Everybody I’m JD Houvener I’m your host to the bowl today’s show we’re here with the inventor entrepreneur or business owner get your daily inspiration so you can go make the world a better place [Music]
I’m excited to share with you here today we’re talking about patent insurance and some of the ways that you as an inventor or business owner can really leverage what you’ve been investing your time and money in ie the patent to motivate you and get your business going so what I want to introduce today is this third type of policy called the the collateral defense insurance or excuse me the collateral insurance policy and so what this does is it allows you as the inventor to to go to put a valuation on your invention even while it’s pending now it’s a lot easier and those policies get a lot more straightforward when the patents have already issued because the claims are identified but these policies can and routining it issued while patents are pending and it’s one of the best ways that we’ve seen over the years that our inventors are able to catapult their businesses forward to get the loan and instead of having to give up equity which oftentimes happens when they talk with a you know a seed investor or an angel investor or even a VC that wants to take you know 20 30 or 51% of your company just so you can get the loan that you need to start and grow do marketing do more research and coppa the next iteration a wonderful way to get that cash that you need to grow your company using this in this vehicle through the insurance company is that they will actually use your own invention as collateral so what that means is if you know forever whatever happens right you know businesses business if you end up going out of business or losing your money the worse thing that happens is you forfeit rights on your invention back to that company and so of course the insurance company will go through quite a bit to make sure that they internally be evaluated the quality and the merits of the invention so that’s something that they’re interested in getting involved in and would be able to take and give value for so this is a great option please get a get a hold of us if you’re interested in learning more about that our phone number is say eight hundred eight four nine one nine one three or visit our website at bold patents comm again I’m your host JD Houvener of the bowl today’s show I hope you all have a wonderful day go big go bowl [Music]