Category Archive:Entrepreneur

ByCarolyn Keane

A Counterfeiting Operation Ripped Off 2 Inventors. Then They Fought Back, and Won.

When a company copied their invention, Natasha and Fred Ruckel began investigating — and got an inside look into how products are ripped off.

On Valentine’s Day in 2015, Natasha Ruckel and her husband, Fred, were sitting in their living room in Gilboa, N.Y. Natasha was improvising on the piano, and Fred was listening while messing around with the couple’s cat, Yoda. Fred noticed a ripple in the living room rug, forming a half circle on one side. Again and again he tossed toys into the ripple and a delighted Yoda darted in and out. Natasha looked up from her playing. “That’s when we came up with the idea for the Ripple Rug,” she says.

The Ruckels, who had spent around 25 years earning their living in marketing and advertising for brands from PepsiCo to ESPN to Hasbro, were already in the midst of creating their first venture: an app that provided a way for amateur photographers to monetize online images. But they both agreed that the Ripple Rug was a better bet.

A couple of days later, Fred went to Home Depot and bought some cheap pieces of carpet, and they got to work on a prototype. When they had that, they launched a Kickstartercampaign in May 2015, pricing the American-made product at $39.95, to test the market. Within 30 days, they received $15,000 in backing. They had the products made in Georgia for $15 each, and filled the orders.

The Ruckels were weighing their next step when, that fall, the opportunity of a lifetime hit. QVC, in conjunction with the Today show, hosted an ongoing competition called the “Next Big Thing” for entrepreneurs with new retail products. Participants presented their offerings on the TV program, and the winning products received an order from QVC.

Following an arduous vetting process — including proof of a multi­million-dollar insurance policy, a guarantee of having 1,500 items available for sale and sample videos of the Ruckels in pitch mode — Ripple Rug made the cut. “We drove into New York City, and at every exit, we practiced the pitch,” Fred remembers. “We were there by 5 a.m. and hardly slept the night before.”

They sold a few hundred units immediately. QVC bought 1,500 more and Ripple Rug became a top seller. “It was pretty damned amazing,” says Fred. “We were profitable out of the gate, which is virtually unheard of. It felt like a great moment.”

It was, and it wasn’t. Over the next 14 months, the Ruckels learned that coming up with a truly original innovation attracts not only devoted customers but also the kind of highly organized, deep-­pocketed bootleggers who rip off products and systematically grind their inventors into the ground — both financially and emotionally. “It creates so much discord that you are willing to give up the dream of entrepreneurship and go back to your day job,” says Fred.

In the thick of battle, however, the Ruckels learned critical lessons: the importance of copyrighting assets before launching; the reality that people will steal everything from your marketing pitch to your product to your advertising photos; the need to continually patrol for ripoffs and take action. They also got a darkly fascinating glimpse of how ruthless, well-funded, deeply sophisticated bootlegging operations work — and how, with tenacity, vigilance, a good lawyer and the right strategy, they can be beaten.

To read how they won, here is the rest of the article:

Counterfeiting Operation Ripped off 2 Inventors. Then They Fought Back and Won

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ByCarolyn Keane

How to Start a Business – The Mega Guide

Matt Adams from Online Growth Guru has written a blog post called How to start a business – the MEGA guide.

The guide is over 8,000 words but has been broken down into chapters. This article summarises the chapters, so you can get a feel for whether it will help you in your journey to becoming an entrepreneur or even an inventor.

The first section is about Matt himself, he talks about his failures and challenges in his first business. But he also explains the mistakes realised and lessons learned from being new to an industry that was hugely competitive and much more technically advanced than his ‘little’ start up.

Starting a business plan

After finding out more about Matt, there’s action points on how to create a business plan, these actions include

  • Getting going and research
  • Structuring the plan
  • How to make notes and keep it lean
  • Keeping the plan simple and maintaining it as a working document

How to do Sales & Marketing

This section discusses the importance of short term sales techniques vs long term marketing strategies.

Some of the sales techniques discussed are:

  • Building a website
  • Telling everyone you’re in business
  • Building relationships and networking with like-minded others
  • How to do educational public speaking about your product or service

The long-term growth strategies explained are:

  • Growing your website to future-proof sales
  • Using offline media
  • Building your personal brand

Also, in this section, the article explains how to be strong in negotiations and make sure you close the deal at the earliest opportunity.

How to Finance a Strat up

The biggest question on a lot of people’s minds is ‘How do I raise money to start a business’. The final section of the guide goes on to talk about ways in which you can acquire finance or a loan, so you can get going with your idea.

It also advises on some of the best ways to start a business with no money. Such as consulting or freelancing.

If you’re interested in reading the full guide, simply head over to the website page How to Start a Business: the MEGA Guide

 

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ByCarolyn Keane

New Licensing Model Offers Free Patent Licenses to Startups and Small Businesses

Earlier today, iPEL, Inc., launched its new website and a brand-new model of patent monetization, which offers free and paid licensing options to operating companies.  iPEL has also defined a set of business practices that a Non-Practicing Entity can follow in order to call itself an Ethical NPETM.

iPEL was formed with $100 Million in initial capital, in May of 2017, by Brian Yates, a well-known patent monetizer, and Rasheed McWilliams, a respected patent trial attorney.  For the last year, iPEL has been actively building its worldwide patent portfolio, which currently includes more than 1,000 distinct patent families.

iPEL announced its Initial License Offering, available only through the end of 2018, which provides all companies an opportunity to secure a license to iPEL’s entire worldwide patent portfolio, through one of two licensing programs: (1) free licenses for small businesses and startups, and (2) paid licenses for larger businesses.

Both categories of licenses should be a welcomed change for operating companies, who historically learned of patents owned by one of Mr. Yates’ companies by being sued. Indeed, the dozens of NPEs that Mr. Yates has owned were often amongst the most active patent plaintiffs in the US and were responsible for more than 1,000 patent infringement lawsuits, against a majority of the companies on the Fortune 1000.

With iPEL, it seems clear Mr. Yates is intent on pursuing a very different monetization model. “It’s pretty funny,” said Mr. Yates. “Several people thought I retired or left the patent monetization business, because during the last year, I have not created dozens of new NPEs or filed hundreds of new patent lawsuits.  But, I just turned 43 years old, and I have no desire to retire anytime soon.  I love what I do and am incredibly proud of what we are doing with iPEL.  And, even though it has been fun keeping the details of iPEL a secret, it’s going to be a lot more fun watching iPEL impact the entire innovation ecosystem.”

Although Mr. Yates and Mr. McWilliams would not share the full scope of what iPEL has planned, it is clear that they want to change the NPE narrative.  Providing a defined list of best practices and clearly defined pre-litigation licensing options are definitely new talking points for NPEs.

Even the most vigilant anti-NPEs, however, will have a hard time criticizing iPEL’s offer to grant small businesses and startups a completely free, no strings license to its entire patent portfolio.

iPEL’s free license is available to any company whose gross annual revenues do not exceed $5 Million USD (or the equivalent in any other national currency) and is for a one-year term.  Although the license is renewable, it is not available to affiliates or subsidiaries of larger entities that do not meet the revenue restrictions.

“We know that small businesses and startups are the most likely to engage in paradigm-shifting innovation” said Mr. Yates, CEO of iPEL. “Those companies are not afraid to take risk, to ask big questions, or to dream. Unfortunately, in almost all instances, those same companies cannot afford to buy all of the patent licenses they need in order to implement their new technologies. iPEL wants to help these companies succeed, by giving them a large portfolio of patented technologies, upon which they can freely build.”

“There is no reason patent licensing cannot and should not be a celebrated exchange of innovation and technology between those with rights and those who need to leverage those rights in order to produce and distribute products,” said Mr. McWilliams, President of iPEL. “Patent and technology licensing has been a part of the fabric of American culture since the earliest days of our history as a nation.”

“Regrettably, patent licensing has become a maligned practice over the last decade in the United States,” said Mr. Yates. “This has allowed the many benefits of patent licensing to lay unrealized, and for innovation to stagnate. My hope is that by giving free, non-exclusive rights to iPEL’s valuable patent portfolio, startups and small businesses will create more jobs and create exciting new technologies.”

Of course, there is a self-serving piece to what iPEL is doing as well. If startups and small businesses do successfully build on the patents in iPEL’s portfolio, then they will at some point becoming paying licensees. “Sure, it just makes good business sense really,” said Mr. McWilliams. “These small companies don’t have the ability to pay for patent licenses, and a patent infringement lawsuit could cripple them before they even get started. We’d love for them to build on our valuable technologies without worry, and once they can afford it, purchase an ongoing license. It is a win-win for everyone.”

At the end of the day, iPEL hopes this new, startup-friendly model becomes an industry standard. “Despite the false narrative that has been spread by many willful infringers, NPEs are a vital part of innovation and the global economy.  And, at iPEL, we are holding ourselves to the highest professional standards, by giving all companies an opportunity to secure licenses on reasonable, pre-litigation terms.  And, small businesses and startups should never be afraid of an NPE jeopardizing their company.  For those reasons, we challenge the rest of the industry to follow our lead,” Mr. Yates said. “It is time for NPEs to stop allowing infringers to define us as a bunch of heartless monsters. Everyone should abide by the Ethical NPETM practices and support small businesses and startups. It’s simply the right thing to do.”

More information about iPEL’s Ethical NPETM criteria, its worldwide patent portfolio, and its free and paid licensing programs, is available at www.ipel.com.

New Licensing Model Offers Free Patent Licenses to Startups and Small Businesses

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ByCarolyn Keane

The Cade Prize rewards inventors and entrepreneurs…..

The Cade Prize rewards inventors and entrepreneurs who demonstrate
a creative approach to addressing problems ​in their field of expertise
​resulting in an innovative, not iterative, invention.

The Cade Prize is one of the largest cash prize competitions for innovation in the state of Florida. It is open only to Florida residents and Florida based companies. Since its launch in 2010, it has drawn hundreds of creative thinkers from Pensacola to Miami. Every year the applications are drawn from diverse sectors. Previous entries have included biomedical, healthcare, IT, tech, environmental, and agricultural ideas. The Cade Prize attracts cutting edge inventions that have a real possibility of making it to market.

The Cade Prize is in search of entrepreneurs, inventors, researchers, and early-stage companies planning to take their idea to market. $50,000 in cash prizes (provided by the Community Foundation of North Central Florida) along with in-kind incentives are awarded to the final top four finishers of the competition each year. The goals of the $50,000 prize are to provide seed capital and publicity for great ideas with market potential. For the first time, awards will be given to the top four entries. The award for first place is $25,000, $15,000 for second place, $7,500 for third place, and $2,500 for 4th place. Individuals and companies with inventions that will remain in Florida for at least one year after the Prize is awarded, are eligible to enter. “Outside investment” is defined as funding from investors; This does not include grants, personal funds, or loans from friends and family.

The Cade Museum for Creativity & Invention is excited to announce that the 2018 Cade Prize is now accepting applications from inventors and entrepreneurs in the state of Florida. For the first time, the Cade Prize will award the top four finalists! The application fee is waived until June 22nd at midnight. Beginning June 23rd, the application fee will be $55.

For more information, please visit www.cademuseum.org or email Ashley Bryant at abryant@cademuseum.org.

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ByCarolyn Keane

Are there any free tools for SEO?

https://www.quora.com/Are-there-any-free-tools-for-SEO

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ByCarolyn Keane

The Most Iconic (and Patented) Games

By Gene Quinn & Renee C. Quinn Dec 24, 2017

Christmas 2017 is upon us! Children worldwide will soon be comfortably tucked into their beds as they anxiously await the arrival of Santa Claus (a.k.a. Kris Kingle). This is a great time of the year to be young, or at least young at heart!

Several years ago we profiled the Top 10 Iconic (and Patented) Toys in our Christmas Eve edition. This year we decided to profile the most iconic and patented games, many of which are still likely to be found waiting for good little girls and boys under the Christmas tree. Profiled are Monopoly®, Rubik’s Cube, Battleship, and Rock’em Sock’em Robots, Twister and Simon.

We also want to take this opportunity to wish everyone a very Merry Christmas! Thank you for reading IPWatchdog.com!

 

Monopoly®

Monopoly patentIn 1935 the United States Patent and Trademark Office (USPTO) issued U.S. Patent No. 2,026,082 on Monopoly®, one of the most successful and beloved board games of all time.

As the story goes, Charles Darrow, an unemployed salesman, was struggling to support his family during the Great Depression. It was during this time that he claimed to have fondly remembered summers in Atlantic City, New Jersey, and dreamed about being a real estate mogul. These diversions purportedly lead to him formulating what has become the most popular board game of all time – Monopoly®.

Darrow felt certain he had a hit on his hands so he contacted Parker Brothers, who initially turned him down, but only after explaining that his game violated some 52 fundamental rules of a board successful game. Undeterred, Darrow marketed the game himself. As fate would have it, a friend of Sally Barton, the daughter of Park Brothers’ founder, George Parker, bought the game. At the time Mrs. Barton’s husband was the President of Parker Brothers. One thing lead to another and eventually Parker Brothers became convinced that this game, with minor modifications, could be a huge success. As a result of his invention Darrow became the first millionaire game inventor, thanks to royalty payments.

The irony, however, is that Darrow may not have invented the game at all, but rather he may have taken a locally popular game and made only a few changes. By the time Parker Brothers realized that Darrow might not have been the true inventor the game was already a huge success. To protect the game and its investment the decision was made to buy up all patents and copyrights on any related game, thereby ensuring the monopoly on Monopoly®.

 

Rubik’s Cube

One of the most popular games of the 1980s was the Rubik’s Cube, a puzzle game that proved enormously frustrating to many who attempted to unlock its solution.

Invented in 1974 by Hungarian inventor Ern? Rubik, the device was patented in the United States with the issuance of U.S. Patent No. 4,378,116 on March 29, 1983, with the title Spatial logical toy.

On a classic Rubik’s Cube, each of the six faces is covered by nine stickers, each of one of six colors: white, red, blue, orange, green, and yellow. See WikipediaA Rubik’s Cube craze captured worldwide attention in the 1980s, with tournaments and even the Guinness Book of World Records recognizing the fastest attempts to solve the puzzle.

Today the Rubik’s Cube has been a part of pop culture for decades, and has once again gained a new following with over 40,000 YouTube pages dedicated to the puzzle game.

 

Battleship

BattleshipAnother long time favorite game is BattleshipU.S. Patent No. 1,988,301 was issued on January 15, 1935 under the title Game board, the originally patented game does not bear a lot of resemblance to the one that many of us grew up playing.

The patent explains that the invention relates to a perforated game board and pins insertable in the perforations. Although the patent explains that this perforated game board could be used for number of different games, the game we know as Battleship is described.

“The game herein illustrated as in progress might be called Battleships,” the patent reads. The game is described as requiring two players to sit facing each other. “One player, making use preferably of some erasable marking means, such as chalk, places an enclosure or line around a number of arbitrarily chosen series of perforations in groups of 4 (representing a battleship), in groups of 3 (a cruiser). The patent explains that play will go back and forth with each player calling out shots at the unseen target created by the other player. “Play continues thus and when one of the series of perforations within an enclosure has been filled with pins, that ‘ship’ is ‘sunk’.”

 

Rock’em Sock’em Robots

Rock'em Sock'em RobotsU.S. Patent No. 3,235,259, titled Toy boxers, was issued on February 15, 1966. The patent explains: “It is the primary object of this invention to provide a new and amusing toy in the form of a novel boxing game manually operated by opposing players.” Inventors Marvin Glass, Harry Disko and Burton Meyer, assigned the patent to Marvin Glass & Associates, and the first version of the Rock’em Sock’em Robots game was manufactured by Louis Marx and Company in 1964.

Rock’em Sock’em Robots was a game of battling robots, with each player trying to knock the others head off the block. The Red Rocker and the Blue Bomber would battle it out inside the ring.

Designed for two players, this boxing game required each player to a robot by operating the mechanism with his or her thumbs.

 

 

Twister

Twister has to make this list just because of the patent art on display in Fig. 3 (to the left) alone.

Invented by Charles Foley and Neil Rabens, and assigned to Milton Bradley Company, U.S. Patent No. 3,454,279, titled Apparatus for playing a game wherein the players constitute the game pieces, was patented on July 8, 1969. The patent explains: “The invention relates to a method of and equipment for playing a game of skill and chance for amusement and exercise purposes.”

The game is played with a playing surface the size of a large blanket, which has “a plurality of columns of loci, said loci being of such size and so spaces as to enable the players to place a hand or a foot on any designated locus, the columns of loci being different colors…” Don’t you just love the way patent attorneys write?

A “chance device” such as a spinner is included with the game. Someone not playing (i.e., a referee) will spin the wheel and call out a hand or foot with a corresponding color, which requires the players to twist and contort themselves in order to place the appropriate hand or foot on the color. The object of the game is to move into the appropriate position without falling. If a player falls or touches an elbow or knee to the surface the game is over and the other player declared the winner.

 

Simon

Ralph Baer, Hall of Fame inventor of the video console, was also the co-inventor of this extraordinarily popular, frustrating, and fun game. Baer, along with co-inventor Howard Morrison, invented this electronic game in the late 1970s, and launched in 1978.

U.S. Design Patent No. D253,786 was issued on Christmas Day 1979 (Fig. 1 of the patent shown left). While that might seem odd to many, the United States Patent and Trademark Office issues patents every Tuesday, and December 25, 1979 happened to be a Tuesday. Obviously, all the work to allow the patent to be done was complete well in advance. In the U.S. a patent is not officially issued until it is published, which occurred on Christmas Day 1979.

For those not familiar with this iconic game, the device is made up of four colored buttons, which light in a series. The player must repeat the sequence correctly once the lights stop. Each time the player successfully completes the correct sequence the sequence becomes longer, and as the player continues the sequence gets faster and faster. This game can still be purchased today, but the new age Simon Optix seems more virtual reality headset than anything else. In an attempt to keep the game fresh for the next generation you wear the headset and wave your hand in front of the proper color in sequence. Other varieties of this classic game include the Simon Swipe and Simon Air.

 

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ByCarolyn Keane

Families, Invent Away! Frito-Lay Announces Return of “Dreamvention” to Find the Next Best Invention Idea

Actress Cobie Smulders Teams Up with Frito-Lay Variety Packs to Inspire Families to “Dreamvent” Together for $250,000 Grand Prize

Frito-Lay Partners with STEM-Focused Museums to Offer Free Admission and Help Spark Creativity


PLANO, TexasDec. 13, 2017 /PRNewswire/ — Families that play together can invent together. Frito-Lay Variety Packs, one of the flagship brands from PepsiCo’s Frito-Lay division, is calling on families to dream big in the second year of its “Dreamvention” program and submit ideas to solve an everyday problem for a chance to win $250,000. Frito-Lay, which initially created Dreamvention after seeing so much ingenuity from families in their daily lives — from big inventions to daily life hacks — is bringing the program back after receiving thousands of creative ideas in its first campaign. After all, Frito-Lay Variety Packs believes that if you can dream, you can invent. Families can submit invention ideas and learn more about the program starting now at MyDreamvention.com.

Cobie Smulders, a mom of two young children who knows the importance of spending meaningful time with family and making each moment count, is helping Frito-Lay encourage families to brainstorm invention ideas together. Smulders, best known for roles such as Robin Scherbatsky from “How I Met Your Mother” and Maria Hill from the Marvel Cinematic Universe, has long had a passion for creativity and scientific endeavors — she was even an aspiring marine biologist in her youth before she pursued acting full time.

“As a mom of two kids, we’re always making really weird stuff together!” said Smulders. “It’s really cool to join them on these projects and help them with their imagination. That’s why I admire the Dreamvention program, because it gives families a platform to showcase their creativity, hard work and determination. I can’t think of a better way for families to spend time together than by encouraging each other to dream big.”

To spark creativity for Dreamvention, Smulders and Frito-Lay are partnering with four STEM-focused museums across the country to offer families free admission between December and February, with Smulders helping kick off the first event today at the New York Hall of Science. Families will get hands-on Dreamvention experiences to inspire their own invention ideas to submit online. To see the museum schedule, visit MyDreamvention.com.

About Dreamvention
Earlier this year, Frito-Lay Variety Packs announced the inaugural “Dreamvention” contest where thousands of creative inventions were submitted by aspiring entrepreneurs from coast to coast. These imaginative and practical inventions were narrowed down to five finalists and an eventual $250,000 grand prize winner, including:

  • Maria DeLong from Brownsburg, Ind., who submitted “Pleasant Awakening” (finalist)
  • Anna Kreager from Cedar Park, Texas, who submitted “Chalkers” (finalist)
  • Julia Luetje from Leawood, Kansas, who submitted “Storm Sleeper” (finalist)
  • Grace Murphy from Needham, Mass., who submitted “Shoe Purse” (finalist)
  • Andrew Young from Batavia, New York, who submitted “Toaster Shooter” (winner)

All of these ideas were brought to life for the finalists to experience, with the help of MAKO Designs + Invent, a full-service consumer product development firm, through official prototypes of their inventions. Families can see the prototypes at the museum stops between December and February.

“This year’s competition was fueled by the passion and creativity that aspiring entrepreneurs brought throughout the contest, proving that if you can dream, you can invent,” said Jeannie Cho, Vice President of Marketing, Frito-Lay North America. “We are pleased to announce next year’s competition to keep this celebration of innovation and family connection going.  And we’re looking forward to what families will ‘dreamvent’ together next as they work to bring their best ideas to life.”

About the Contest
Families can participate by thinking up a fun invention idea, creating a simple drawing and short explanation of it and uploading both1 to MyDreamvention.com starting now through February 26, 2018 for a chance to win. Five finalists will be announced in October 2018 at which point Frito-Lay will pass the baton to America to vote for its favorite Dreamvention. The winning invention, based on votes, will be announced in December 2018.

Here are a few tips for how families can get started:

  1. Have a brainstorm with family and friends.
  2. Look at everyday things and think of a way to make it better.
  3. Think of an everyday problem you have and dream up a way to fix it!

You can also “Dreamvent” on-the-go! Frito-Lay Variety Pack features pre-portioned, single servings that can be taken with you wherever you go. Variety Packs include everyone’s favorite Frito-Lay snacks, such as Cheetos cheese flavored snacks, Doritos tortilla chips, Fritos corn snacks, Funyun’s onion flavored rings, Lay’s potato chips, Rold Gold pretzels, Smartfood popcorn, and SunChips multigrain snacks. Variety Packs are available at retail stores nationwide for a suggested retail price of $2.69 – $13.99.

To submit an invention idea and to learn more about the contest and the official rules, please visit www.MyDreamvention.com.

For high-res images, broadcast-quality b-roll and other press materials about Dreamvention, please visit www.magicbulletmedia.com/MNR/DreamventionFamilies

https://www.prnewswire.com/news-releases/families-invent-away-frito-lay-announces-return-of-dreamvention-to-find-the-next-best-invention-idea-300570419.html

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ByCarolyn Keane

MIT’s Take on Entrepreneurship

ENTREPRENEURSHIP IS A CRAFT.
HONE IT.

Entrepreneurship and innovation are synonymous with MIT. Big thinkers from around the world come to MIT Sloan Executive Education to take advantage of our renowned faculty, research, and resources that can help turn their ideas into successful ventures or social impact.

We teamed up with Professor Bill Aulet of the Martin Trust Center for MIT Entrepreneurship to assemble a collection of resources to help you get your venture off the ground. The Entrepreneurship Toolkit includes links to articles, a webinar, a 15% discount code, and other sources of business-building wisdom.

We hope these resources help ignite your entrepreneurial spark and guide your next steps. Click below and get the Took Kit

why-mit-sloan-executive-education

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