Tag Archive:invent

ByCarolyn Keane

Why Entrepreneurs Must Learn to Re-Invent Themselves

Daniel DiPiazza
CONTRIBUTOR
Author

Re-invention can be triggered externally, but must take place internally.Entrepreneurs must develop the power to create the impossible in order to realize their highest potential.

No entrepreneur is happy with maintaining the status quo, even if they’ve achieved success, accolades and comfort from their accomplishments. The “zone of genius” can become a golden anchor.

Most entrepreneurs have a huge vision for themselves that they’ve broken apart and watered down over the years because they are scared of the scope of their dreams. In doing so, they are settling for the smaller incentives that are within reach rather than striving for the bigger prizes on the highest shelves. They stop stretching.

Related: Spring Into Action With These 11 Books About Reinvention

The power to create the impossible is the ability to first acknowledge these huge dreams that feel completely “unrealistic,” declare them possible and then create the circumstances in your life that move those dreams from unreality to reality.

In order to create the impossible, the entrepreneur must undergo a period of complete re-invention in business, life and self — counterintuitively shedding themselves of old beliefs and habits in order to make room for the ideas that will actually help them succeed.

Re-inventing yourself is not about changing what you are “doing” — it’s about changing who you are being.

Re-invention is not a simple as a “pivot” or a new position in the market. It’s not just about doing better work. It’s about changing your relationship to the past, present and future so that you become capable of accomplishing anything you declare possible, regardless of your past or current experiences.

An entrepreneur cannot re-invent their products, company or culture without first re-inventing themselves. It takes courage.

Related: 7 Powerful Tools for Reinventing You and Your Business

As author Tracy Goss would say, “Re-invention is putting at stake the success you’ve become for the power of making the impossible happen.”

Anybody who seeks the power to create the impossible through re-invention can follow the guideposts until the road ends, but each re-invention is unique. Great CEOs, athletes, artists and world leaders have always endured the fires of change as they re-invented themselves.

You can study great leaders and icons to understand how and why their re-inventions happened — but you’ll never be able to copy the process. Re-invention can be triggered externally, but must take place internally.

Your re-invention will happen through a series of transformations that fundamentally change your understanding of who you are and what you’re capable of, creating quite literally a different person on the other side who has no recollection of the limitations of the past.

https://www.entrepreneur.com/article/322501?utm_source=newsletter&utm_medium=email

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ByCarolyn Keane

Why Outsourcing Your Invention’s Reviews Increases Efficiency

Image credit: Mila Supinskaya Glashchenko/Shutterstock

Determining whether your invention will be successful or not is an integral part of being an entrepreneur. Here are three reasons inventors are outsourcing the review process to increase efficiency.

When entrepreneurs and companies invent new products or technologies, they are understandably reticent to share their ideas with outsiders. After all, the business landscape is cut throat. They do not want to risk giving away their competitive edge. Still, most entrepreneurs are aware they need some feedback to ensure that their ideas are viable. They may form an internal review team to analyze their prototypes and conduct a market analysis.

While this choice may seem logical, internal invention reviews can be a waste of time and money. External reviews are a smarter choice. For instance, consider independent taste testers, who food companies outsource sensory testing of their products to in order to capture a broad and objective range of preferences. Beware of in-house reviewers, who are often incapable of delivering the objective analysis and insights you need to make sure your product does not fail.

Internal vs. external reviews

We will come back to the point about internal reviews inherently being nonobjective. There are additional reasons to outsource the invention review process. For starters, internal reviews can require significant time and money. Since the team members tasked with the review are employees, they may have to balance this assignment with their other responsibilities.

Generally speaking, internal reviews can take up to 30 hours at minimum, although they can take up to 30 days at larger companies. If you are paying employees over $75,000 per year (and, in the case of an attorney, far more) and you assign several people to the task, you are looking at thousands of hours and potentially hundreds of thousands of dollars to conduct your internal reviews, when they could be working on developing the top ideas and technologies instead. Be aware of where you’re spening money, as very little of your review expenses should be on the front end.

In addition, internal reviewers are not necessarily trained to conduct these types of analyses. A quality product study includes thorough research into your market, competitors and patent prospects. Someone who is not trained to vet ideas for commercial potential will not be able to generate the level of insights and recommendations you need to screen a technology. By comparison, external teams specialize in product analyses.

Privacy can be a concern when inviting outsiders to review your ideas. However, a non-disclosure agreement or confidentiality clause can prohibit external reviewers from revealing any sensitive and proprietary information. There are both legal and business incentives to adhere to these guidelines as the reviewers want to build a reputable business and are not in the business of stealing ideas for themselves. If the right safeguards are in place, you can trust that the review process will not expose your business’s important competitive information.

Here are three ways in which an outside review is more advantageous than an internal report.

Speed

Unlike your team members, review agencies focus solely on compiling invention reports. They can turn around an analysis much faster than your internal staff, and it will include a SWOT analysis, competitive research and intellectual property (IP) research – all the information you need to decide whether to move forward.

Cost

While some consultants charge high rates, many third-party vendors offer fast and affordable services. Instead of paying salaried employees to produce a lackluster review, you can secure a top-quality analysis at a fraction of the cost, freeing up your employees to concentrate on the development of your best ideas and IP assets.

Objectivity

I promised we would come back to this and saved it for last because I cannot stress it enough. When it comes to evaluating your commercial prospects, objectivity is everything. You need input from professionals who have no stake in the product’s performance. A third-party team is solely concerned with getting you informed answers and giving them to you with no pretense. Their jobs and egos do not depend on your product’s success. Those are the people you want reviewing your invention because then you will have solid feedback and perhaps fresh insight into whether your idea can be successful.

The worst thing you can do for your company is go to market blindly or with misinformation. Sourcing high-quality evaluations from professional invention reviewers will provide you with the necessary knowledge to help your company succeed. Whatever the reports contain, it will give you the knowledge to make informed decisions and develop ideas the world really needs and wants.

Why Outsourcing Your Invention’s Reviews Increases Efficiency

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ByCarolyn Keane

Pittsburgh Invention Promotion Company Accused of Scamming Thousands of Inventors

Action News Investigates has learned a lawsuit accuses a Pittsburgh-based invention promotion company of running a deceptive and fraudulent scam.

The class-action lawsuit says InventHelp and its affiliates took millions of dollars from inventors, who got virtually nothing in return. The company disputes the allegations.

Court records show InventHelp has convinced thousands of people to part with thousands of dollars to market their inventions. But the lawsuit says only a handful of inventors have made money.

After she saw an InventHelp ad featuring a caveman, Sherry Porter contacted the company about her idea.

“It was a pet collar with an LED light that went all the way around,” Porter said.

When Porter met with an InventHelp official at their office in Rochester, New York, she says the response was enthusiastic.

“She told me that it was a great idea. She said to me this invention could go as far as bigger animals, cows, horses, and she said possibly even to children,” Porter said.

Porter said she was skeptical.

But according to a class-action lawsuit filed in New York, InventHelp eventually convinced her to pay $700 and then another $9,000 to market her invention.

The lawsuit says InventHelp promised to send Porter’s invention to numerous companies. But when she followed up with those companies, she said, “they would write back and say they had already seen this product, that it had been on the market for years.”

She also got a book describing her invention.

“What Sherry received for that $10,000 was a hard-bound book very generally describing her invention that probably a third-grader could have put together,” said her attorney, Julie Plitt.

Earlier this year, the lawsuit says, an official at InventHelp’s Pittsburgh headquarters contacted Porter and said a company based in New York City called Abrams Gentile Entertainment was interested in licensing her invention.

But when investigators for Sherry’s attorney went to the office of Abrams Gentile, they found it vacant — nothing but empty boxes. The company’s name not even listed.

“As it turned out this company didn’t exist. The name of the company on the contract occupied vacant New York City space and to date that company hasn’t even answered the complaint,” Plitt said.

Porter did eventually receive a $500 check from another company affiliated with InventHelp.

“We believe that this $500 was a ruse in order to suck her into spending even more money with InventHelp,” Plitt said.

In their complaint, Porter and two other inventors accuse InventHelp and affiliated companies of running a “deceptive and fraudulent invention promotion scam that has bilked thousands of aspiring inventors and entrepreneurs into paying millions of dollars to Defendants for invention promotion services that Defendants do not and never intend to provide.”

When Action News Investigates called InventHelp’s PR office for comment, the voicemail was full. An email to the PR office bounced back as undeliverable.

Eventually, company spokesperson Lark Blasi responded, calling the lawsuit allegations “empty and frivolous” and saying, “We very much stand by our efforts on behalf of all of our clients, are pleased that a third party has shown interest in this individual’s idea, and are puzzled by the various inaccuracies in the amended complaint.”

In a letter to the court, InventHelp says it plans to file a motion to dismiss the lawsuit.

On its website, InventHelp says from 2015 to 2017 it signed submission agreements with 6,564 clients. But it says just 166 clients have gotten license agreements for their products, and only 49 clients — less than 1 percent — received more money than they paid InventHelp.

“In fact, all these people got was a large debt and dashed dreams,” Plitt said.

“I don’t take throwing money away lightly and that’s exactly how I feel, that I just threw that money right out the window,” Porter said.

In addition to the case filed by Porter in New York, a lawsuit making similar claims about InventHelp has been filed in Philadelphia. The company said it has not yet had a chance to review the allegations in the Philadelphia case.

Pittsburgh invention promotion company accused of scamming thousands of inventors

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ByCarolyn Keane

Court Issues Temporary Restraining Order Against Invention Patenting and Promotion Company for Unfair and Deceptive Trade Practices

There are many businesses focused on helping inventors develop and monetize their ideas.  There are companies that, for instance, help people seek patents on their inventions, license their inventions, turn their ideas into tangible products, and promote those products.  World Patent Marketing in Florida bills itself as one of those companies.  But according to a complaint filed by the Federal Trade Commission this month, World Patent Marketing is in fact “an invention-promotion scam that has bilked thousands of consumers out of millions of dollars.”  The FTC charges World Patent Marketing with committing unfair and deceptive trade practices in violation of Section 5(a) of the FTC Act. On March 8, the Southern District of Florida found that the FTC was likely to succeed in proving this charge and issued a temporary restraining order.

Read more at http://www.jdsupra.com/legalnews/court-issues-temporary-restraining-50911/

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ByCarolyn Keane

I’ve discovered the most inspiring, world changing and economy changing tech I’ve ever seen. Bravo Carbon3D!

I recently discovered a company changing manufacturing, invention and entrepreneurship that I can clearly see as being the next LEAP in tech innovation globally. It’s as impactful as Industrial Revolution was to agriculture and the assembly line was for mass production. Honestly, it’s blow your hair off, mind blowingly impressive. Check out Carbon 3D.  www.carbon3d.com

Read more: https://www.linkedin.com/pulse/ive-discovered-most-inspiring-world-changing-economy-tech-ann-marie

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ByCarolyn Keane

National Inventors Hall of Fame 2017 Inductees


ALEXANDRIA, Va., Jan. 26, 2017 /PRNewswire/ — The National Inventors Hall of Fame, in partnership with the United States Patent and Trademark Office (USPTO), is pleased to announce the 2017 class of Inductees, all of whom have contributed to society in meaningful ways through their groundbreaking, patented innovations.

For full biographies on each Inductee, visit: http://www.invent.org/honor/inductees/

 

http://www.prnewswire.com/news-releases/the-national-inventors-hall-of-fame-announces-2017-inductees-300397469.html

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ByCarolyn Keane

3 TV Shows to Pitch to

Adventure Capitalists

We were invited to participate last season and now the show is a huge success. It is a great premise, 3 venture capitalist personally product test new outdoor adventure products. Talk about Shark Tank, last season they tested a new shark repellent device in the ocean with school of real mean looking sharks, giving new meaning to the term “wetsuit” for one of the capitalists. These guys are crazy and a lot of fun. Check out the show here http://cnb.cx/2eezoKK

They are looking for all types of outdoor products including but not limited to; camping, hiking, adventure, recreation, outdoor transportation, off roading, renewable energy, survival, etc. I suggest you watch the show and present accordingly. Here is the link to apply www.AdventureCapitalists.com   

Harry Wants Women

What a dream come true for the right women, Harry Connick Jr. is looking for women inventors with a great story to tell for his new daytime talk show. This is great exposure! Here is a link to the talent search http://bit.ly/2ddYLZb and here is a link to the show’s website https://www.harryconnickjr.com/

Dave Yonce Show

Below is the information they sent me about the show. Unlike most product hunts, shows are looking more for personality. Their guide lines are an education in themselves that everyone should read.

Asylum Entertainment and a major cable television network known for its loud, creative content is on the hunt for American entrepreneurs with well-developed concepts or prototypes for new inventions. To be considered, the invention must solve a problem, make a job more efficient, or make life more fun. Areas of interest include, but are not limited to, electronics, weapons, outdoor recreation, adventure, home products, automotive, and power tools.

If selected to appear on the program, Oklahoma-raised inventor and entrepreneur, Dave Yonce, will invest money and time into you and your product, developing it into a working prototype, and in some cases, partnering with you to build your business.

For more information, email:  Casting@tikicasting.com.

Thank you in advance!

Kristina Hauser
Casting Director 

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ByCarolyn Keane

The Inventors’s Dilemma: Drafting Your Own Patent Application When You Lack Funds

By Gene Quinn
October 22, 2016

financial crisis dollar on a white backgroundFrequently inventors are faced with a dilemma that is all too common for entrepreneurs. Generally speaking, most will bootstrap a project, whether it is an invention or start-up. That means long hours working without compensation, without revenue and not enough money to do everything that really needs to be done in a perfect world. Lack of funding presents great challenges.

The first entrepreneurs’ dilemma that inventors typically face is with respect to whether to hire a patent practitioner or to simply go it alone and prepare and file a patent application. Obviously, if you can afford competent legal representation that would be the best path to take, but entrepreneurs, and inventors, rarely have the funds available to do everything that really needs to be done. Thus, corners sometimes need to be cut. That is just the nature of business.

The problem with cutting corners in the patent space is that there are so many pitfalls lurking around nearly every corner. Indeed, representing yourself can be a little like taking out your own appendix. If you have acute appendicitis and you are hiking in the mountains many hours away from the nearest hospital taking out your own appendix looks like a much better option all of the sudden given the alternatives. But ordinarily you wouldn’t dream of removing your own appendix. Similarly, if possible you really shouldn’t be representing yourself as you seek a patent. There will be times, however, when it is either do at least some of the work yourself or the project just can’t move forward.

Not surprisingly, many inventors faced with this entrepreneurs’ dilemma will decide to proceed on their own, at least initially. That is a perfectly fine choice, but it needs to be done with eyes wide open. It also requires the do-it-yourself inventor to become as knowledgeable and familiar with the process of describing an invention and drafting a patent application as possible.

The problem with cutting corners in the patent space is that there are so many pitfalls lurking around nearly every corner. Indeed, representing yourself can be a little like taking out your own appendix. If you have acute appendicitis and you are hiking in the mountains many hours away from the nearest hospital taking out your own appendix looks like a much better option all of the sudden given the alternatives. But ordinarily you wouldn’t dream of removing your own appendix. Similarly, if possible you really shouldn’t be representing yourself as you seek a patent. There will be times, however, when it is either do at least some of the work yourself or the project just can’t move forward.

  1. What are functions or features that consumers will identify as an advantage?
  2. Are those functions or features likely to be patentable or contribute to the patentability of your invention?
  3. What other solutions currently exist that consumers could identify as substitutes for your invention?
  4. What patents or published applications exist that relate to your invention? If there are patents are they in force or have they expired?

These questions are critical because they will start to get you thinking about your invention in a different way; in a way that most inventors are unaccustomed to thinking. The truth is that with any invention there will be pieces, parts, features, functions or characteristics that are more likely than others to contribute to patentability. A patent attorney would need to identify what those features are, so you should as well. Inventors absolutely must start with identifying the patentable feature. Only then can you really ever determine whether moving forward with a patent application makes sense.

For example, it might be interesting that your new widget is the first of its kind to be painted yellow, but will painting it yellow contribute to the patent examiner believing you’ve invented something worthy of a patent? No. What you need to do is identify the inventive concept and decide whether that is enough to warrant the time investment and cost associated with obtaining a patent. Hopefully that inventive concept will be something that consumers will identify as an advantage. Remember, obtaining a patent costs money so the only way it will make sense is for you to be able to charge a premium for your product or service. If you patent something that consumers do not perceive as an advantage that usually winds up being a poor business decision in the long run.

In addition to focusing on the core of what makes the invention unique, which will hopefully be perceived as an advantage, you need to know what else is available on the market, and what else has been patented or attempted to be patented. For you to get a patent your invention must be unique when compared with the prior art (i.e., that which is known, such as those things available on the market, patented or published in patent applications). You simply cannot know whether what you have is unique unless you compare it to what is known to exist. That means you absolutely must know what previously exists and then compare it to your invention. This means you are going to need a patent search. While it makes sense to do your own search it is generally the case thatinventors find little even when there are volumes of relevant information to be found, so a professional patent search can be a very worthwhile investment even if you are going to otherwise attempt to do the rest of it (or much of the rest of it) yourself.
The last critical thing from the list above deals with whether any previously issued patents that relate to inventions that address the same problem have expired. This is an absolutely critical consideration because once a patent expires the invention and all obvious variations of the invention fall into the public domain. When a patented invention falls into the public domain anyone could use that invention or any obvious variation of the invention for free. It can be very difficult to compete against free unless what you’ve come up with provides a significant advantage. Therefore, it is important to not only consider the existence of the prior art, but it is critical to consider whether there is prior art that is too close that has now fallen into the public domain and is freely available. Potential licensees will consider this, and so should you. It can be a major hurdle to a business deal, which means it is better to know up front rather than after you’ve invested large amounts of time and money.

For those who are going to go it alone I’ve created a self-help system – The Invent + Patent System™ – which has helped many thousands of inventors create provisional patent applications. Even if you wind up deciding to hire a patent attorney using this system can and will help you create a much more detailed disclosure of your invention, and get you to think about things you undoubtedly never would have thought about otherwise. If you are going to go it alone I strongly recommend you consider using it, but frankly any inventor could benefit from using the system. I also recommend you do as much reading on IPWatchdog.com as possible, focusing on those articles that relate to completely describing your invention in a patent application. Specifically, at a minimum I recommend the following articles:

Each of these articles mentions and links to other articles, so please read as much as you can. If you are brand new to the subject you might find it most easy to start with Invention to Patent 101 – Everything You Need to Know to Get Started, which is a tutorial broken down into discrete reading assignments that start with the basics and get more and more complex as your knowledge progresses.

Best of luck, and happy inventing!

Before you decide to embark on the path of preparing your own patent application, even a provisional patent application, there are a few questions about your invention you really need to consider. Ultimately, whether you decide to go it alone and do-it-yourself or you hire a patent professional, having this information at the ready will greatly facilitate the process.

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ByCarolyn Keane

How to Submit Ideas to Companies “Think” Before You Send – by Roger Brown

Contacting companies for the first time can be scary and uncertain for Inventors. You want to do it right and get the company interested in your product and see it on store shelves. My invention submissions have resulted in licensing deals in toys, tools, eyeglass products, kitchen utensils, and even a device used in the nuclear industry. I did it spending less than $100 on each and some as little as $8. I utilized an NDA and Sell Sheet only, no patent or PPA. My major investment has been my time.

I have been a serial Inventor, a licensing agent and reviewed thousands of Inventor’s products. In short, I see and hear all sides of the inventing process. What I’ve discovered is sometimes inventors can be their own worst enemies. Here’s a list of do’s and don’ts when it comes to submitting pitches or new products to companies that can help you make a better first impression:

1. Don’t send hand-written submissions. Even if you don’t own a computer most libraries have one you can use for free. If a library isn’t an option, go to a FedEx Office (formerly Kinko’s). If you send your submission via snail mail, include a self-addressed stamped envelope. Don’t assume your target company will pay postage.

2. Do put your contact information on each piece of paper you send. That includes samples and prototypes.

3. Don’t waste a product reviewer’s time detailing how you came up with your idea. Focus on the benefits of your product/technology and why it will make the company money. Companies don’t care if your second cousin twice removed worked on your project for two years once he got out of prison.

4. Don’t use the phrase, “My idea is worth millions.” Let the company decide that.

5. Don’t use the phrase, “There is nothing else out there like my idea.” Most of the time you will be wrong.

6. Don’t say you have researched your product idea thoroughly when all you did was walk into a Walmart and didn’t see it on the shelves.

7. Don’t use the phrase, “Everyone will buy one.” This gets back to being realistic about the size of your market. Know who the target customers are. (See Rule #6)

8. Don’t send a prototype to a company unless they asked you to and are expecting it. Companies do not want to keep track of or be responsible for items they did not request in the first place.

9. Do be realistic about your expectations. Understand licensing royalties usually are about 2% to 5%. Greed can kill an otherwise profitable deal.

10. Do read and re-read everything a company sends you to make sure you understand everything in the documents. Don’t assume everything is fine and sign it. I send people my two-page non-disclosure agreement to read and sign prior to sending me anything for review. I have to include in my email an explanation to make sure they fill in their address on the top of the first page, because so many people don’t do it. This is in the first two paragraphs of the first page. So, if they are missing that what else are they missing in a longer document?

11. Don’t write a novel to explain your invention. Be concise and factual. No one wants to read a novel to get your idea. Be able to explain your invention over the phone or in person in 30 seconds or less. Practice your pitch until you can say it in your sleep. Look at the short blurb on the back of a book. It gives you an overall idea of the 300 page book. Your pitch needs to be that short.

12. Make sure you know your product. You should be the expert on your product. Never assume companies will just “Get It.”

13. Don’t send your submission to a company on Monday and call Tuesday to ask when they will be sending you a contract.

14. Do your research before submitting anything to a company. Make sure your submission actually fits their target market. Don’t submit a lawnmower idea to a soap company.(this happens more than you think)

15. Don’t send your invention submission in care of the general bulk mail of a company. Get a specific person’s name in charge of that department – new product development, marketing, inventor submissions, inventor relations, etc. Don’t send “To Whom it may concern.” The most likely place it will find is the trash basket.

16. If you call a company asking for the person in charge of invention submissions, make sure you are ready if you’re put through. This is not the time to forget pen and paper or fumble your pitch. If you get voice mail, leave a short intelligent message with your call-back number.

17. Make sure you know the time zone difference of the location you are calling.

18. Don’t send a company any package that has special storage requirements, contains a live animal or flammable liquids. Real example: An Inventor sent his new food-sealing device with samples of food sealed inside. It was not opened until a week later, by security due to the smell of the leaking packages.

19. Don’t send a company anything you can’t afford to lose. Accidents happen and things can get misplaced. If it’s a one-of-a-kind item, you may want to send a DVD or link to a video showing the product in action. If you post it on Youtube and you have not filed for any patent protection make sure it is set on Private and not Public.

20. When sending email attachments to companies, do make sure it is in a program they have installed on their computers. Not everyone has Filemaker Pro or Microsoft Office 2016. Ask if the company has a size limit on attachments. Moreover, some software automatically kicks out any email with an attachment that is not on a safe email list.

The more you do upfront to make sure you are prepared the better your chances of success.

http://www.rogerbrown.net

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