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I have an Invention ... Now What?
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   Tool Patent but nervous about steps
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   Author  Topic: Tool Patent but nervous about steps  (Read 658 times)
TropStar
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Tool Patent but nervous about steps
« on: Nov 6th, 2007, 3:16pm »
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I'm quite new to this site and truly have just been getting fired up about my invention.  
Have hired a Patent Attorney and my tool is now published. He doesn't offer much in the way of advice about how to go about selling it or where to go for info, or connections at this point of the process.  
I am beginning to look for a way to sell the rights and would like some advice on the best route to take?
I've posted on Craigs List recently and have gotten some responses but very leary of it. Any takes on that source? Is there a good site that places investors and inventors together?
I am also wondering, have I made a mistake by not forgoing an international patent also?  
Thanks in advance.
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CriterionD
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Re: Tool Patent but nervous about steps
« Reply #1 on: Nov 7th, 2007, 5:46pm »
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I am assuming you mean your patent app was published.  Anyways...
 
Looking for investors?  Do you have a business plan to show them?  
 
Its tough to give a ton of advice without knowing more about what exactly you have and what exactly you are looking to accomplish.  My only advice is to think intelligently, stay creative, stay professional, and keep an open mind.    
 
Realize that there are many other entrepreneurial inventors in your shoes as well, not all of which have truly marketable and/or truly unique inventions.  Even if you truly have a good and marketable invention, its up to you to set yourself apart from the pack and make it past a barrier of skepticism.  
 
Craigslist?  Were the investors that replied to you based in Nigeria?  I have no feedback related to marketing an invention on Craigslist.
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www.criteriondynamics.com
TropStar
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Re: Tool Patent but nervous about steps
« Reply #2 on: Nov 14th, 2007, 5:42am »
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Thank you for replying. Yes, the patent application was published and we were told we may start looking at this time to sell the patent rights or produce and look for investors. The people that have responded from Craigslist are in the US and from major financial districts.  
 
We are looking to sell the rights to the tool patent and as I stated before, we don’t receive much guidance from our patent attorney. It seems as though he’s just filing what he needs to with the Patent Office. We are novice to this and could use some advise.  
 
Should my attorney guide me a little more than he has?
Are we jumping the gun before the patent is actually issued?
Have I made a mistake by not forgoing an international patent also?
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CriterionD
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Re: Tool Patent but nervous about steps
« Reply #3 on: Nov 14th, 2007, 11:09am »
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on Nov 14th, 2007, 5:42am, TropStar wrote:

Should my attorney guide me a little more than he has?

 
Thats a subjective question and its unclear exactly what he has and hasn't done for you.  But a patent attorney by definition is simply supposed to be an expert (or close enough) in the field of patent law.  The questions you are asking deal more with the field(s) of business/entrepreneurship management/strategy, even if answers are influenced by patent law.  Unless you specifically contracted the attorney to serve as a business advisor as well as a patent attorney, or promises were made to that extent, he wouldn't likely be expected to guide you more than he likely has.
 
 
Quote:
Are we jumping the gun before the patent is actually issued?

 
I don't think so persay, but I don't know details here that would affect decision making.  Hopefully homework's been done and there is good enough reason to believe that the patent will be granted.  If for whatever reason the patent won't grant, then having a pending application is at least a little better than having nothing anyway.
 
You will be in better shape once the patent grants, and some parties might not be willing to talk to you or negotiate with you until after the patent grants.  So again this is a subjective issue and there is not necessarily a right or wrong answer.  
 
Quote:
Have I made a mistake by not forgoing an international patent also?

 
Do you think your invention has commercial potential in certain foreign markets?  How much?  Applying for patent protection in various foreign countries is expensive, could you afford that?  There's even a chance depending on details you havent provided, that foreign patent protection might not have been an option for you even if US patent protection was.  And, while I don't like to dwell on the fact that "patents don't enforce themselves" - because I believe that if you ever have a truly good enough case against an infringer you should be able to find funding to back your case if you try hard enough (and if you are licensing your patent to someone else they are the ones resposnible for enforcing it) - I will point out that, for example, if you filed a patent in China, you are going through the Chinese legal system if you want to enforce that patent.  
 
« Last Edit: Nov 14th, 2007, 11:11am by CriterionD » IP Logged

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