startpad countdown 3 - (patent pending)
DESCRIPTION
Adam Philipp from Axios Law Group discusses patents and trade secrets.TRANSCRIPT
How can you protect an idea?
Trade Secret
•Unlimited time(in theory)
•Easy to lose
•Constant vigilance
Patent
•Limited time
•Hard to challenge
•Easy to maintain
Trade Secrets
Generally require a binding agreement…
…with nondisclosure language (NDA)…
…that nobody wants to sign…
… and that nobody ever reads.
Losing a Trade Secret
Try Googling “RC4 Source Code”
Trade Secret Summary
Use in limited circumstances
Use for manageable periods of time
Patents
What can be Patented
“Anything under the sun made by man.”
U.S. Supreme Court in Diamond v. Chakrabarty
However, the invention must be:•New
•Useful
•Not obvious
Patents are Exclusive
Infringers cannot:•Make
•Use
•Sell (or offer to sell)
•Import Last for 20 years from filing date
Base Patent (ABCD)
Frisbee
Improved Patent (ABCD+E)
Lighted Rotating Flying Body
Why Obtain Patents?
A. Exclusivity in the marketplace B. Revenue from licensing C. Access to other IP/markets via
cross-licensing D. All of the above
Parts of a Patent Application
Written description
Drawing(s)
Claim(s)
Provisional Patent Applications
No claims needed Not examined
•“Option to buy“ a utility application in one year Useful for:
•Rush filings or when disclosure is imminent
•When the funds for a full utility application can be better used for something else
Patent Coverage Territorial
• Patents cover only the region/country they are issued in.
• First to invent in the U.S.
Foreign countries:• First to file• “Absolute novelty“
International/Regional filing:• Less up front costs• Potential cost savings with less prosecution in
individual countries
Good Patent Practices Keep Records:
•Conception date and details•Reduction to practice date and details•Diligence until filing patent application
Preserve U.S. and foreign filing rights by:•Early filing of a U.S. application•Maintaining work in confidence until U.S.
application is filed•Binding nondisclosure agreements
