Leveraging Inspiration: The Inspired Patent Podcast

S1 E39 ChatGPT and trade Secrets. Your employees are using AI. According to a Feb. 2023 survey by Fishbowl, 43% of professionals are using ChatGPT at work, but of those about 70 percent say their boss does not know. What does that mean for your trade secrets? If your employees are feeding your trade secrets to CHATGPT, they may be training an AI to help your competitors with your trade secrets. Re...

S1 E38 Legal updates on AI and Copyright Your employees are using AI. According to a Feb. 2023 survey by Fishbowl, 43% of professionals are using ChatGPT at work, but of those about 70 percent say their boss does not know. If AI is found to infringe copyright or have other legal risks then your company’s use of AI could bring liability. Cases relating to AI and Copyright Getty Images v. Stability...

S1 E37 Legal updates on AI and PatentLegal updates on AI and Patents: Can AI be recognized as an inventor? Find out the latest developments from around the world. Small business owners need to be aware if there is a large shift in their market. A change in patent law, along with AI might cause a huge shift to the marketplace. Country Report: The United States does not currently grant patents to in...

Maximize The Value Of Your Patent At These Five Strategic Milestones In 2020 the average judgment award for patent infringement in the US was about $100 Million Dollars? Learn what it takes to have a patent that is on the winning side.  In this podcast, I will teach you the 5 strategy milestones in obtaining a patent, and how to maximize value and minimize risk at each milestone with the help of y...

Creating your IP team is like assembling a superhero squad to protect and maximize the value of your intellectual property. Let's explore who you need on your team and what they need to do to ensure your small business is equipped for IP success! Here's what you need to know about creating your IP team: Patent and Trademark Attorney: An experienced patent and trademark attorney is the cornerstone...

According to MIT Sloan Management Review, there is a direct correlation between ideas submitted by employees that are implemented, and profitability and growth of a company. Building a strong IP culture not only safeguards innovations but also fosters an environment that promotes creativity, increases profits and growth, and enhances the overall value and competitiveness of your business. What you...

As a small business owner, understanding the optimal timing for selling your new product in relation to the patenting process is crucial. This knowledge will help you make informed decisions that balance the need for early market entry with the importance of protecting your intellectual property. Here's what you need to know about when to start selling your new product in the patenting life cycle:...

"The lifecycle of an invention is like a thrilling mystery novel, starting with a secret and ending with a brand that stands the test of time. Buckle up and let's dive into this captivating journey!" As a small business owner, you are writing the story of your business day by day. As you understand intellectual property you can write your story with greater success and competitive advantages. Secr...

S13 E32 Avoid a lawsuit when hiring - Best practices when hiring employees with experience. An SBA report on Small Business litigation from 2005 showed that Litigation costs for small businesses (firms) are between $3000 to $150,000 per lawsuit The survival rate of new employers falls from 69% of all new firms in the first 2 years to 33% survival rate if they are involved in a lawsuit. Small firms...

S13 E31 Dos and Don’ts for NDAs and employee agreements Our special guest is attorney Scott Gibson, an expert in trade secret law. Can an employee exploit trade secrets they have access to in order to do their job? No, even without a contract or anything in writing, employees have a duty of loyalty to their employer and are not allowed to exploit trade secrets they have access to in order to do th...

S13 E30 The first step in protecting trade secrets (Defining your intangible assets). We are discussing trade secrets with Scott Gibson. In this episode, we are discussing the beginning steps in protecting your trade secrets. Scott, one of the ways you help companies protect trade secrets is through litigation. In your litigation cases and consultations, do you see more theft of trade secrets from...

S13 E29 Patent or trade secret? Both! Our goal in this episode is to show you the value of implementing a trade secret program in your business, especially when you have patented technology. To understand trade secrets, we have a special guest Scott Gibson, an attorney with expertise in the area of trade secrets. Trade Secrets What is the definition of a trade secret? - A trade secret is informati...

S13 E28 The Role of Contracts in IP Ownership: Navigating Joint Ownership, Licensing, and Assignments to Protect Your Interests A well-drafted contract is like a compass that guides you through the intricate maze of intellectual property ownership. In our last episode, we discussed the defaults for IP ownership. In this episode, we will go deeper into the issues and share strategies for structurin...

S13 E27 Securing IP Ownership When Working with Partners, Employees, and Contractors. Do you own a socket wrench? I have done many projects with a socket wrench. One of the innovations was invented in 1965 when a Sears clerk invented a socket wrench with a button that releases the socket so you can change sockets with one hand. Sears agreed to buy the patent rights from their employee for $10,000...

S13 E26 Why you should form an LLC or corporation for your intellectual property Let me tell you a story. Four friends from college decided to start a business together. As they spend long hours together they developed some great ideas and started to implement their plans. They filed a patent application and a trademark. They didn’t form a business or LLC since they were all friends or more than f...

S13 E25 Special Guest Ike Devji - The Expert on Asset Protection Did you know that setting up an LLC might not be enough to protect your assets? When you have assets you become a target of lawsuits. Learn how to protect your assets. In this episode, we address the following questions: What is asset protection and how is it different from estate planning? When should business owners start thinking...

S13 E24 What to do if you get a copyright infringement cease and desist letter It's crucial for small business owners to understand how to respond to cease and desist letters to protect themselves from legal trouble and potential damages. In the United States, we still believe in innocent until proven guilty. For a company to get a judgment against you they must file a lawsuit, prove that they own...

S13 E23 Qualifications for copyright ownership - ChatGPT and open AI In 2011, a monkey in Indonesia took a selfie using a photographer's camera. The photographer, David Slater, claimed copyright ownership of the photo and published it. However, animal rights group PETA filed a lawsuit on behalf of the monkey, arguing that it should hold the copyright since it took the photo. The court ultimately r...

S13 E22 Don’t copy content (words, images, video, music, etc.) until you listen to this episode!! "Happy Birthday To You" is not just the world's most popular song, it was also under a copyright claim for many years. In 2016, an order was issued by a court, placing the song into the public domain. This case highlights the importance of verifying public domain status before using copyrighted works...

S13 E21 Copyright protections - How long, what is covered, and strategies for registration According to David Israelite, President and CEO of the National Music Publishers' Association, copyright serves as the legal foundation for not only the music industry, but also the film, software, publishing, and many other creative industries. As a small business owner, it is important to understand how co...

S13 E20 The Design Patent Dilemma: Strategies for Responding to Cease and Desist Letters According to the United States Patent and Trademark Office, over 50,000 design patent applications were filed in 2022 alone, which is more than a 15% increase from the previous year. If you receive a cease and desist letter for an alleged design patent infringement, it is important to respond appropriately to...

S1 E19 Enforcing A Design Patent Did you know that many Amazon sellers will look for popular products on Amazon and copy the product to sell it under their own brand? Design patents can be very effective at stopping others who are copying your successful product. For example, if Amazon agrees that a product being sold infringes your design patent, they can shut down the seller’s entire store and h...

S1 E18 The Value Of A Design Patent Statistic: Did you know that design patents are becoming increasingly popular? According to the United States Patent and Trademark Office (USPTO), the number of design patent applications filed in the U.S. has increased by over 60% in the last decade. A design patent can be a valuable tool for protecting the unique visual features of a product. A design patent p...

S1 E17 Which Is Right For You - Design Patents Or Utility Patents Quote: "Intellectual property is the oil of the 21st century." - Mark Getty Who is Mark Getty - He is the founder of Getty Images, the #1 supplier of images for media, corporate, and advertising. Mark Getty’s family was in the oil business. In the 20th century, the people who controlled oil were wealthy and powerful. In the 21st cen...

S1 E16 Don’t Lose Your Trademark - Renewals And Monitoring Did you know that failing to renew your trademark can result in losing exclusive rights to your brand name or logo? Protecting your company's brand is crucial for maintaining a competitive edge in the marketplace. However, many business owners are not aware that trademarks must be regularly renewed and monitored to maintain their protectio...