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To Patent or NOT to Patent; that is the question!

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Exposure Magazine

Contributing Writer Cynthia Prather

 

To Patent or NOT to Patent; that is the question!

Are you a visionary and don’t know how to display your craft with adequate protection? If the answer is yes, you are in the same boat with millions of creative people who do not know how to legally protect ideas. The solution is simple; it’s called Intellectual Property and Asset Protection. In 2016, the United States Patent and Trademark Office (USPTO) issued 28,873 US & Foreign Design Patents alone. On average, the USPTO receives more than 500,000 Patent applications annually. What does this mean? Governmental agencies understand your desire/need to be identified as “Concept” originator and the value Patents, Trademark, Copyright and Infringement rights hold if commercialized.

 

Educating yourself about protection options is key to minimizing mistakes, so how does this translate into profit? First, the origin and theory behind Patent protection is to excludes others from making, using, or selling your idea within your term period-providing you with monetization potential. As an inventor, your idea(s) worth needs to stand on its own merit. Don’t get caught up in emotions, understand your product and consumer market, do your homework! There are three types of Patents: Design, Plant and Utility. If you are wondering what’s the difference, I won’t keep you waiting! Design Patents granted after May 2015 have a fifteen-year term and are not subject to maintenance fees. If your forte is Agriculture, a Plant Patent well do just fine. Plant Patent approvals offer twenty-year protection without a maintenance fee. On the other hand, essentially 90% of USPTO approvals are Utility Patents, which have a twenty-year term and maintenance fees are applicable. If you are serious about your idea and have completed preliminary research thru Product Development, now it’s time to pitch drawings, mocked prototypes in a controlled environment with a Non-Compete/Non-Disclosure agreement at the helm. If your service and or product has potential, the next step is to assert and or initiate claims-the more claims of uniqueness, the better! For Utility Patents, you may want to file a Provisional application notifying the USPTO of your intent to file a non-provisional Patent within the twelve-month deadline. The Patent application process can be lengthy; therefore, exercising patience will be in your best interest.

 

Adding an extra layer of protection around your brand is always an option. Trademark protection can offer additional coverage with regards to a company’s name, logo/symbol and words-often a phrase. If you decide to go the Trademark route and have concerns about consumers confusing your brand with a competitor, be aware of renewal fees. Okay, so you want to take your place in Literary Society as an Author, Poet, or Songwriter, consider filing Copyright privileges and know protection terms/fees vary as well.

 

What’s next? Your masterpiece sales are soaring through the roof! But wait, your phone rings and it’s a call from a friend stating someone else is promoting your idea as their own. What are you going to do? After confirming alleged use, you decided to contact an Infringement Attorney. Selecting a well-versed infringement Attorney can restore ownership rights in a civil and ethical fashion. Make sure your Attorney of choice has years of experience and can enforce laws in earnest. Fighting infringement can be costly in access of $250,000; consequently, you don’t want to waste time and or money-be sure you want to move forward with a lawsuit.

 

Nonetheless, protecting novel ideas with (value) is an essential key component while building your brand. Here’s a newsflash, for years, unique, innovative ideas were launched without consideration surrounding Intellectual Property and Asset protection; hence, people found themselves in litigation over ownership rights. Since Patents can be labeled as a depreciated asset and expensed, partnering with a creditable professional team who has a niche to service you through the filing process can fortify needed coverage.

 

As an Inventor and Entrepreneur, I understand how frustrating it can be maneuvering through protection uncertainty. What became my best friend in this arena of Intellectual Property and Asset Protection was; Kinetic Learning, plain and simple hands-on experience. Getting involved in every aspect of the process provided parallel insight when it came to contract negotiations, expansion and etc. If you build a solid level of protection around your showcased talent, you can increase monetary worth; isn’t that the ultimate goal! What I’ve learned in this business is; Great appreciated ideas deserve great Intellectual Property and Asset Protection!

 

Believing in yourself at any age can yield rewards! Converting a hobby from pleasure into treasure while adding a layer of protection around your respected idea can increase profit margin; now isn’t that worth pondering!

By: Cynthia D. Prather

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Business

Former Heavyweight Champion: Mike Tyson’s 40-arce Marijuana Ranch

Former Heavyweight Champion: Mike Tyson’s 40-arce Marijuana Ranch

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Former Heavyweight Champion: Mike Tyson's 40-arce Marijuana Ranch

 

Exposure Magazine CEO

Former undisputed heavyweight champion of the world, Mike Tyson, and his two business partners plan to open a 40-acre marijuana ranch 60 miles southwest of Death Valley National Park. According to mirror.com Tyson Ranch will allow growers to cultivate their crop and there will also be a cultivation school to help growers get the most out of their strains.

The operating company, Tyson Holistic, will employ mainly veterans and bring much needed jobs to the city it’s in.

 

#MustWeed Mike Tyson Preparing to Revolutionize Marijuana Industry, Breaks G… http://Fortune420.com/News #Cannabis #Stocks & #Crypto

Tyson is a long time believer in the medicinal benefits of marijuana use and with California legalizing recreational use of the plant, his plans to open the ranch are free to move full steam ahead.v

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Editor Picks

Leading The Charge Exposure Magazine Co-CEO Gordon Woodberry on The E. Jones Show

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Exposure Magazine is on the move Co-CEO Gordon Woodberry is heading the movement. Manager of the legendary hip hop group EPMD weighs in on his role as Co-CEO and also the future for the publication.

Founded by Celebrity Publicist/ Producer CEO Tamara Lawrence

Senior Editor Cedric Nettles

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Exposed

The Heart of the Matter – Support The Club at Collington Square!

The Heart of the Matter – Support The Club at Collington Square!

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The Heart of the Matter - Support The Club at Collington Square!

The November 26th Baltimore Sun story about East Baltimore neighborhoods was discouraging: “Poverty Makes a Powerful Statement”. The poorest area of East Baltimore, north of Hopkins Hospital, struggles with a grim list of challenges: poverty, violence, vacant properties, liquor stores and the lowest life expectancy in the city.

But in four renovated and connected rowhomes on Mura Street, behind four colorful doors, daily miracles are happening. The Club at Collington Square is an afterschool and summer program, a consistent, loving, educational haven for 92 children in a very tough neighborhood.

Here, Club staff are teaching and building the leaders this neighborhood and this city need. The staff know that changing young lives changes everyone’s future.

Program Director Vanessa Williams has intentionally recruited and developed a staff of young leaders as teachers and assistants — almost 100 percent of whom live in the neighborhood The Club serves. These dedicated staff provide a highly structured program between the hours of 3:15 and 6:30 chock full of academics, enrichment, play and homework help, and provide a snack and hot dinner cooked by The Club Chef in the on-site Community Kitchen. The program emphasizes student voice and leadership with roles for older scholars to mentor and serve younger scholars, and an elected student council.

Strong City Baltimore assumed operations of The Club at Collington Square when Episcopal Community Services of Maryland sought a more sustainable future. Strong City believes deeply in The Club and in its incredible staff, who do heroic work every day with some of Baltimore’s most vulnerable children.

Strong City assumed operations of The Club in October with a $130,000 deficit, which we have already reduced to $65,000. Your gift today will help us keep the doors open and enable the staff to be there every day with what our scholars need most: love, nourishment, academics and enrichment. It’s easy to despair when the headlines are so discouraging.

But we know that loving and investing in Baltimore’s children is the answer. Your gift will help the Club continue to build young leaders that will change Baltimore’s future.

Click here to give! Be sure to designate your gift to “The Club at Collington Square” and consider joining The Friends of The Club with a monthly gift of $100.

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