*****************************************************************
*****************************************************************
THE
ONLINE INVENTOR –
(c)
2010 Market Launchers, Inc.
http://www.marketlaunchers.com
Editor:
Paul Niemann
*****************************************************************
*****************************************************************
Dear Inventor:
This first article is from patent agent Ron Reardon. Ron is
co-host of the weekly internet radio program, “The Launch Hour,” in
which he interviews entrepreneurs, innovators and product developers. You can
listen to past episodes at http://thelaunchhour.businessradiox.com
Ron has been a product judge at the National Hardware Show for the past three
years and he is also Vice President of the United Inventors Association. He
offers some great advice in this week’s article.
Read on, and enjoy this issue.
CLEVER QUOTE OF
THE WEEK …
Actually, these 3 quotes are from actual newspaper headlines. Thanks to
long-time read Norm Krastel for sending this.
“Police Begin
Campaign to Run Down Jaywalkers”
(Now that's taking things a bit far!)
-----------------------------------------------------------
“Panda Mating
Fails; Veterinarian Takes Over”
(What a guy!)
-----------------------------------------------------------
“Miners Refuse to
Work after Death”
No-good-for-nothing' lazy so-and-so's!
-----------------------------------------------------------
Best Regards,
Paul Niemann
Paul Niemann
www.MarketLaunchers.com
(217) 224-8194
Does a Patent Guarantee Market Success?
By Ron Reardon, President of Patents & More
Recently I was part of a 3-person panel discussion at Georgia Tech at the “Patents & Trademark 101” seminar at which representatives from the USPTO were the featured speakers. The audience included innovators, product developers, entrepreneurs, and wanabee inventors from diverse backgrounds and disciplines. Each panel participant was given 7 minutes prior to the panel discussion to give their background and how they serve the innovation community. After briefly discussing our services at Patents & More, Inc., I turned my presentation to the discussion of whether a patent guarantees market success. To accomplish this I compared and contrasted the following types of inventions: (1) Patented, but not Marketable; (2) Marketable, but not Patented; and (3) Patented and Marketable.
1. Patented,
but not Marketable:
Since Patent Examiners focus on the patentability of claims and not the
marketability of the claimed invention, my poster child for an
invention that is patented but does not have a prayer for even a smidgen of
market success is 5,564,221, “Animal Trap Entrance Device”,
a.k.a. Mouse Trap. The oft repeated statement “Build a better mousetrap
and the world will beat a path to your door” has never had an iota of truth,
as novice inventors waiting for industry titans to discover their brilliance
soon discover. For the sake of argument, most would
agree that 5,564,221 is NOT a “better” mousetrap. In fact, it would
take a very intelligent, ambitious and highly skilled mouse to actually
gain entrance to the delectable cheese, only to find that it is hopelessly
trapped. While the disclosed trap obeys the laws of physics
and complied with the requirements of patentability, extensive research revealed
no evidence of 5,564,221 ever being commercialized (although it may have
possibilities as a gag gift or a video game).
In the second category of “Marketable, but not Patented” are two
enduring best sellers, Crayola® Crayons and Silly Putty®. Neither of
these products were patented (although there have been subsequent patents issued
to the Crayola® Company in recent years for both the
Utility & Design categories). Both of these products continue to
enrich our economy, as well as bring joy and spur creativity.
You do need to be careful when your invention falls in this category. Without a patent you won’t be able to exclude others, but there may be reasons why pursuing the marketing of your invention in this situation.
For example, if you have already committed the four deadly sins that disqualify you for getting a patent (over 1 year ago you either sold the claimed invention, tried to sell it, used it in public or disclosed how to make and use it).
3. Patented
and Marketable:
In the last category of “Patented and Marketable” is patent number
2,717,437, “Velvet Type Fabric and Method of Producing Same”, aka VELCRO®.
While this patent expired long ago, its trademark, name recognition and market
innovation keeps this juggernaut alive (plus
there have been hundreds of follow-on patents issued to the Company). The
contributions to our economy and our lifestyle by this product are enormous.
This final category – patented and marketable – is the holy-grail for inventors.
The Common
Denominator:
What do the inventions that will make you a successful inventor have in
common? Thomas Edison said it best:
“Anything that won’t sell, I don't want to invent. Its sale is proof of
utility, and utility is success.”
It is important to be realistic with your marketability assessment. The first question to ask is: “Does it have a “Wow” factor?” If your invention is only 10% better than the current alternative, you should consider inventing something else (this is why the DVD player rocketed to success exponentially faster than the time taken by the VCR). Also consider, is it: unique, mass market, solves a problem, priced right, easily explained, age appropriate, credible?
Success Won’t
Happen Overnight
If you think that the time between having the idea and rolling in the dough
is instantaneous, it just isn’t that simple; if it were, everyone would be a
rich inventor. The adage “It takes years to be an overnight success”
is the mantra for inventors; the innovation journey is a marathon, not a sprint.
There are numerous resources available at the USPTO and through the United
Inventors Association for new and experienced inventors alike. The more
you learn, the better positioned you will be to succeed. Along these
lines, I frequently recommend to inventors that they subscribe to Inventors’
Digest, read The Independent Inventor’s Handbook (by Louis Foreman) and Gadget
Nation (by Steve Greenberg). Inventors Digest has great interviews with
successful inventors and timely tips for today’s innovators. The Independent Inventor’s Handbook provides a step-by-step process to make a go/no-go
decision to invest your resources in your invention. Gadget Nation profiles
about 100 inventors and their inventions; as an inventor myself with three
issued patents, I learn the most from the failures that are chronicled.
When you look for the common denominator of which made it and which did not, you
will find marketability at the core.
The Morale of the
Story:
Based on the response from the attendees after the event, they got the
message that a patent is not magic and does not ensure market success, that
market success can exist without a patent, and, finally, that a highly
marketable product with strong patent claims is what you are after.
#
# #
Ron Reardon is a
patent agent and President of Patents & More, Inc. in Atlanta, Georgia, and is President of the United Inventors
Association as well as past-president of the Inventors Club of
******************************************************************
******************************************************************
“Top
20 Marketing Tips for Social Media”
By Katie Cowan of Creative Boom
Can
you believe how quickly social media has utterly transformed our lives? The way
we shop, find love and do business. Particularly as it was only four years ago
that Twitter
was
launched and just seven years since Facebook
first began.
As social media has transformed the way we communicate, it’s only natural
that the shape of marketing has followed suit and changed. No longer are we
engaged in a one-way conversation with our customers. Thanks to the Internet,
everything is now social and interactive.
And from a business point of view, it’s something we should all be
embracing. Using social media for marketing is not only cost-effective, it helps
you to grow your customer base by taking part in two-way dialogue with your
customers. You are now able to shape your products and services based on
real-time customer feedback and you can drastically improve your customer
service by responding quickly and easily to any queries, questions or concerns
people might have.
But for many freelancers and companies out there, it’s difficult to
determine how to best utilise social media for marketing. Here are my top 20
tips on how to use social media as part of your marketing strategy:
Do your
research:
If you’re struggling to get to grips with social media and you’re
confused by the different types out there, read up about the subject first.
There’s no point in adding social media to your marketing plan if you have no
clue as to what it is.
Set some
goals:
Don’t just jump into social media head first. It’s good to have a
thorough plan, so you can measure your success and adapt your social media
marketing accordingly.
Consider
your target market and use the right social media for your audience:
For example, if your business sells consumer products, Facebook might be
the best platform for you. Or if you’re an accountancy firm, perhaps Twitter
would be more suitable.
Be on your
best behaviour:
Everything you say and do online gets recorded, so it becomes permanent.
It goes without saying, think before you type.
Be
interesting:
It’s an obvious tip but if you’re boring, people won’t want to
follow you. Try to add some lively and interesting tweets or updates to your
social media accounts. It will keep people coming back for more.
Don’t
broadcast:
Social media is all about engaging, two-way conversation, so don’t just
bombard your followers or fans with your own company news and updates.
Communicate and interact!
Join
everything up:
Hook up your website as much as possible. How do you do this? Integrate
your own blog to your website and use it as an effective marketing tool.
Don’t be
negative:
Never slander any other business or person through social media. It will
come back to haunt you.
Keep it
regular:
Keep your social media profiles current and updated. If you leave them to
fester, they'll become stagnant and therefore risk making you look
unprofessional.
Get the SEO
right:
Consider SEO or Social Media Optimisation (SMO) when choosing a username.
Try to add some keywords to your profile name.
Consider
tools:
Make life easier and use tools to automatically hook up your blog to your
Twitter or Facebook accounts. Try Hootsuite.com
or Twitterfeed.com
Give a
personal touch:
Personalise your profile pages and adapt to company branding. Ensure you
have filled out all the necessary information.
Use your
face:
If at all possible, put a face to your brand. People prefer to follow
humans instead of logos.
Keep
updated:
Keep your eyes peeled for social media updates or newcomers. It’s no
good using social media if you haven’t a clue what’s going on. Mashable is
an excellent online news site regarding social media.
Quality not
quantity:
Only sign up to a couple of the top social media sites. You don’t need
to go mad. And make sure you don't spam everyone's feeds with your own tweets or
updates all the time. It will just turn people off and they're likely to stop
following you.
Get your
privacy controls right:
Make sure your privacy settings are correct. Double check them at all
times.
Link and
link again:
Add links to your social media accounts on your company website and vice
versa.
Check the
legal side:
Be aware that some social media sites won’t allow you to run
competitions without prior consent. With Facebook, for example, you need written
permission before running any giveaways on any of its pages.
Advertise:
Make best use of advertising on your social media network. Opportunities
are increasingly available. It’s certainly something to consider as part of
your marketing plan.
It's not
me, me, me:
Finally, don’t be selfish. Share, help and encourage other people and
businesses online. It’s great karma and will make you seem transparent, open
and friendly – the type of business people want to be associated with.
#
# #
Katy Cowan runs Creative Boom, an online magazine and network community that aims to celebrate, inspire and support the creative industries throughout the UK: http://www.creativeboom.co.uk
******************************************************************