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Startup Bootcamp - Session 7 of 8 - Intellectual Property, Patents
The document outlines a series of sessions focused on entrepreneurship, highlighting key topics such as intellectual property, creativity, and the importance of patents, trademarks, and copyrights in the innovation process. It discusses the stages of new product development and emphasizes the need for proper IP protection strategies in business. Additionally, it includes a case study on the commercialization of a patented product and provides checklists for integrating IP into business strategies.
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Similar to Startup Bootcamp - Session 7 of 8 - Intellectual Property, Patents
Startup Bootcamp - Session 7 of 8 - Intellectual Property, Patents
- 1. Session 7: Intellectual Property- Filing Your Patent Bao Tran
- 2. Master Agenda -Entrepreneurship 101 Session 1 - January 10th - What is creativity? What is my passion? Session 2 - January 17th - Behavior traits for a successful entrepreneur. Session 3 - January 24th - Turning your passion into a business opportunity. Session 4 - January 31st - Steps needed for your startup ... 1,2,3 GO. Session 5 - February 21th - Financials of the business opportunity. Session 6 - February 28th - Presentation skills, successful pitches, what ideas got funded. Session 7 – March 6th - Filing your patent, patent gotchas, successes and failures. Session 8 - March 13th - Pitch your business plan to VCs (only 12 spots will be available).
- 3. Weeks 1-3 recap Week1 Passion Creativity Problem Week 2 Leadership Hardwork Integrity Social Good Week 3 The Hacker Way The VC Business Plan
- 4. Weeks 4-5 recap Week5 Profit = Sales - Costs Revenue Models Financial Statements Week 4 Incorporation Paper Money Pivot Exit Week 6 They don’t come if you build it. Customer Research
- 5. Capital Labour Knowledge Capital Labour Knowledge Capital Labour Knowledge Pre-industrial era Industrialera The « knowledge economy » Source: WIPO
- 6. 1982 2000 Intangible assets Physicalassets US COMPANIES’ INTANGIBLE ASSETS AS % OF TOTAL ASSETS Source: WIPO
- 7. 7 The IP ofGillette (2006) Gillette Company Asset Values in US $ (2006) Value ($) Total Working Capital 2,850 4.9% Fixed/other assets 5,131 8.8% Intangible assets 5,854 10.0% IP 44,700 76.3% Total Invested Capital 58,535 100%
- 8. © Seth Associates,2006 All Rights Reserved 8 Under estimation of its importance Cost of Patenting Enforcement of IPR Time Required for Grant of a Patent/registration of TMLack of Awareness Myth that IP can’t be enforced Reasons Why IP is Ignored
- 9. Innovation May be expensive Riskyand full of uncertainties Requires skilled labour Results may be copied by others
- 10. The Innovation Process Aninnovation starts as an idea/concept that is refined and developed before application. Innovations may be inspired by reality (known problem). The innovation (new product development) process, which leads to useful technology, requires: Research Development (up-scaling, testing) Production Marketing Use Experience with a product results in feedback and leads to incrementally or radically improved innovations.
- 11. New Product Development Stagesin a New Product Development process: • Idea Generation • Idea Screening • Concept Development and Testing • Business Analysis • Beta Testing and Market Testing • Technical Implementation • Commercialization
- 12. 12 IP adds valueat every stage of the innovation and commercialization process Literary / artistic creation Invention Financing Product Design Commercialization Marketing Licensing Exporting Patents Copyright Patents Trademarks Trademarks, Ind. Designs, Geo. Indications All IP rights All IP rights
- 13. Intellectual Property Rights Patents Trademarks Trade Secrets Copyrights
- 14. Trademarks Trademarks are identifiersof sources of products that usually arise from significant efforts in promotion or advertising expenditures
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- 17. Example of TradeSecrets Assertion Monday April 9 3:45 AM ET Fruit of the Loom Sues Competitor CHICAGO (AP) - Fruit of the Loom is suing competitor Gildan Activewear Inc., accusing the Montreal company of stealing trade secrets to grab a competitive edge in the cutthroat apparel business. Fruit of the Loom contends the reports include production goals for plants in El Salvador, Honduras and Mexico that would allow Gildan to estimate production costs. They detail sales to specific customers, trends in demand and budget information.
- 18. Trade Secrets • Canlast forever • Need to show efforts to keep the secret confidential • If others can figure out the secrets through rightful means such as reverse engineering, then secrets can be lost • Famous trade secret is the Coke formula
- 19. WHAT IS ACOPYRIGHT? Among other things, a copyright is the right to make copies A copyright is a bundle of rights that include the right to reproduce, prepare derivative works, distribute copies, perform the work publicly (live performance), display the copyrighted work publicly, and in the case of sound recordings, to perform the work publicly by means of digital audio transmission (webcast).
- 20. COPYRIGHT AND RELATEDRIGHTS • Copyright • Performing Rights (Musical and Dramatic Works) • Broadcasting Rights • Distribution Rights • Reproduction Rights • Right to Make Derivative Works • General Designs and Vessel Hull Designs • Derivative Works such as Translations
- 21. WHAT DOES COPYRIGHTCOVER? Artistic works that typically appeal to the senses such as sight and sound. Original Works of Authorship. Examples: Books, plays, poems, sculptures, dolls, vessel hull designs, paintings, photographs, computer programs, news papers, furniture, websites, magazines, architectural works, motion pictures, audiovisual works, dance steps, designs.
- 22. Patents Example: ring-pull cans Theinventor licensed the system to Coca-Cola at 1/10 of a penny per can. During the period of validity of the patent the inventor obtained 148,000 UK pounds a day on royalties.
- 23. Patents Patents reward disclosurerather than secrecy In exchange for disclosure, inventors get exclusivity for a period of time
- 24. Technical Information Contained ina Patent Document Description Background and discussion of relevant prior art Problem to be solved by the invention Solution to the problem in broad terms Detailed description with examples Drawings where appropriate Abstract Claims
- 25. Patent Protection Provides theexclusive right to commercialize the innovative product in the selected markets Facilitates the licensing or sale of an invention to foreign firms Increases the negotiating power of a firm vis-à-vis competitors (particularly good for cross-licensing) May enhance the image of the company (in the eyes of investors, partners, consumers) as being technologically developed Facilitates the establishment of partnerships and joint ventures in domestic and foreign markets
- 26. Case study onPatent Protection Case study on the commercialization of a patented product Croatian pharmaceutical company (Pliva) discovers new antibiotic (Azythromicin) Pliva applies for patent protection in Croatia and in various potential export markets using the Patent Cooperation Treaty Large pharmaceutical company (Pfizer) searches patent databases and discovers the Pliva patent Pliva licenses Pfizer to produce the antibiotic in the US as well as in some other countries in Western Europe, while Pliva maintains the exclusive right to commercialize the antibiotic in Eastern Europe
- 27. Checklist Integrate IP intothe company’s business strategy Make sure that trade secrets are kept within the enterprise and prepare, where appropriate, confidentiality agreements Make sure that patentable inventions are not shared with others or published before filing a patent application For export-oriented firms, make sure IP is protected in all potential export markets Ensure that any modifications and/or improvements to protected inventions are further protected Make sure maintenance fees are paid on time
- 28. Checklist Conduct freedom tooperate search using patent databases to develop your business strategies When conducting joint research with other enterprises or research institutes, or when engaging external consultants make sure that there is sufficient clarity on who will own potential IP generated from the research project to reduce derivation charges under the AIA Monitor the market and make sure that your IP assets are not being infringed and conversely to object to new patents that may improperly block your products. Use your IP portfolio as leverage when seeking sources to finance your business Conduct an IP Audit
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- 31. Class Exercise • Introduceyour Founding Team and Startup Name • What does the Startup do (idea)? • Pick one or two components from Business Plan template and describe the components to class.
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- 33. Business Plan Problem Statement Solutionto Problem Business Model Product and Technology Competition Marketing and Sales The Team Financial Model