The Importance of Patents in Entrepreneurship

Timestamps

• 00:27 Guest Introduction
• 01:58 How two engineers became patent experts.
• 03:11 How Dan helped NASA Scientists acquire their patents
• 05:38 Are NDAs important for businesses applying for an IP.
• 08:40 The process of applying for a Patent.
• 10:45 How to Know if your idea is patentable according to the US Patent Law.
• - 101 Patent – Patent Subject Matter
• - 102 Patent – Novelty
• - 103 Patent – Non-obviousness
• - 112 Patent – Written Descriptions
• 13:58 How are patents law enforced, and are patents universal?
• - Process of enforcing a patent law
• - How businesses can use provisional patents to pursue VCs and investors
• 22:17 Do patents in essential services hinder technological developments that can help people?
• - Compulsory Licensing outside of the US
• - Improvement in Research and Development
• - Public Disclosure promotes development globally and stops information hoarding and obfuscation.
• - Information accessibility allows other people to improve on those innovations more rapidly.
• 31:00 How do patents improve the value of a business looking for mergers and acquisitions
• - Buying and Selling Patents
• - Patent Bundling and Licensing
• - How do Patents change a business’s valuation in the market?
• 35:22 Should businesses invest in Patents and R&D during crises, such as Financial Crisis and COVID-19 pandemic?
• - Has the patent industry taken a significant fall as a result of the current pandemic?
• - The impact of businesses becoming more digitally oriented.
• 37:16 How did Dan start the American Patent Agency and their road to success as a business.
• - What it takes to be an entrepreneur
• - Identifying the potential of a business
• - Exploring technology such as AI and Machine Learning
• 42:42 What is the future of APA and its goals?
• - As Mentors and as the go-to patent experts for IP protection
• 44:20 The story of Dan and Stephen’s First Patent.
• 47: 17 How can technology help improve the process of applying for a patent.
• - Legal Tech and its application
• - Uses for Machine Learning and Artificial Intelligence
• - Automating Legal Documentation and Patent Documentation
• 50:51 Steps entrepreneurs should take before contacting a Paten agency like APA?
• - Documentation
• - Long-term use case identification
• 53:48 A final word of advice for entrepreneurs looking to protect their IP.