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exploiting your idea

    exploiting your idea



    In every business there are pitfalls to avoid. Moreover, there are a number of common misconceptions with respect to the protection of ideas which should be corrected. While we have not been able to catalog all such pitfalls and misconceptions, we have set forth below a few to look out for in protecting and exploiting your idea. PITFALLS Many people believe that they and their invention can be protected if they write a letter to themselves setting forth a disclosure of their invention. Since the letter will normally bear a postmark by the US Postal Service showing the date it was mailed, it is believed that a provable date of possession of the invention is obtained for the price of a stamp. However, this is not generally considered good practice, and the evidence obtained by this method is not likely to be sufficient to establish a date of invention. For one thing, an envelope can be steamed open to change the disclosure after the postmark date and then resealed. For another, the law generally requires that evidence concerning invention dates be corroborated—that is, that there be someone or something other than the inventor and his contemporaneous writings to establish that the inventor really did what he says he did at the time he says that he did it. 3.01 Letter to Yourself A better approach is to prepare an invention disclosure and have it read and witnessed by at least two people who understand the invention. (This procedure is more fully set forth in Section 4.01.) Then those two people can be called on to testify that they read and understood that disclosure on the date indicated, thus establishing a date of conception at least as early as the date they read and understood that disclosure. The best approach of all is to see your attorney and let the attorney help you to get started protecting your idea. The statement “Patent Pending” can only be placed on a product or packaging for a product after a patent application has been filed. United States law provides for its use and makes it a crime to use it falsely. However, it does not establish any specific legal rights. It is only a notice of possible future protection. 3.02 Patent Pending Nevertheless, a notice of possible future protection can have very important practical value. Another company which is thinking of producing a similar product will see the notice “Patent Pending” and will know that the product may ultimately be protected by a patent, but it will have no way of knowing what the scope of that patent will be or when it might issue. Thus, it will not be able to safely “design around” 

    the first company’s rights, and it may either stay out of the field altogether or design a more radically different product than it actually had to. For that reason, sometimes a “Patent Pending” notice has more practical value than the patent which eventually issues! There are some companies and individuals who will encourage you to retain them to use their best efforts in selling your idea before you have established a salable property interest (such as a patent right) in the idea. The Federal Trade Commission, an agency of the US government, has found that a number of these companies and individuals are fraudulent. Thus, it is always better to look very, very closely before you pay. 3.03 Offering to Sell an Idea Before You Have Established a Property Interest in the Idea One thing you should do before retaining a company or individual who is interested in marketing your idea for you, besides carefully looking over that company or individual, is to find out if your idea is really protectable by seeking advice from your patent attorney. As discussed in Section 4.10 on Misappropriation of an Idea, you may have a claim for compensation for the service of submitting an idea to a company even if your idea is not patentable, but don’t count on it. In the real world, it is extremely unlikely that you will be able to obtain compensation in this manner, since most companies will not look at your idea unless it is disclosed in a non-confidential manner and with a release or waiver signed by you stating that you are relying solely on whatever rights you can establish under patent, trademark and copyright laws of the United States. Accordingly, if you offer to sell an idea without at least knowing that there is a good chance that you will be able to establish a property right in the idea, you may be giving up your trade secret rights. Beware of the claims made by invention development companies or others on 3.04 Disclosure Document “Protection”? Beware of the claims made by invention development companies or others on the value of the filing of a disclosure document in the Patent and Trademark Office. As clearly set forth in Section 4.03, entitled “Disclosure Document Program,” a disclosure document is, at most, evidence of a date of conception of an idea. It does not provide any protection over the idea, and, if further steps are not taken fairly promptly to protect your invention, even the evidence of a date of conception is unlikely to do you much good. 3.04 Disclosure Document “Protection”? Another pitfall to look out for when dealing with a company which offers to help you develop and market your idea is its providing you with an elaborate “evaluation report” of the idea. Such reports typically state in glowing terms that the idea has great merit and should be readily salable in the marketplace. These evaluation reports have little or no value to companies that are really interested in purchasing an idea. It generally appears that the only purpose of such evaluation reports is to convince you to retain the services of that invention development company to market your idea for a substantial fee.

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