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Blog Talk Radio’s “Business Talk” show co-host, Jo-Anne Yau, presented “Protecting your Invention with Patents – Part II.”  Ms. Yau continued our  general discussion of patents and turned her focus on specifics, concerning patent licensing and product development.

In a sense, patents are an inventor’s recipe on how to build or make something.  However, holding a patent does not protect the use of your invention.  It protects the manner in which you create, build, or make something.  It gives you the right to exclude others from using your specific method of putting something “together.”

An “Inventor’s Diary” is a useful tool during the patent process and is useful evidence against any potential patent litigation.  Ms. Yau also explained the possible exploitation of new patent-ready applicants and the important timelines most inventors need to abide by.

To further explain the process that a new inventor may want to go through, in order to see their idea come to life, Ms. Yau brought Peter Schönning, President of Polyhistor International, a product development and engineering design firm with expertise in rapid prototyping, low volume, and mass-production, to the show.

Mr. Schönning discussed topics concerning product development, reverse engineering, and prototypes.  He spoke about non-disclosure agreements, the importance of defining your desires and needs as an inventor, and the proper identification on how to properly capitalize on new recipes for future products.  Mr. Schönning exlained the step-by-step process involved in the start to finish process of developing a product, from an idea to a final prototype.  He also discussed the usefulness of working with rapid prototyping and the costs involved in prototyping and the costs involved.

Mr. Schönning recommends that inventors who are looking to begin the process of engineering and prototyping their idea, should start by choosing and surrounding yourself with the right people who have a proven track record of experience and whom enjoy working together.

Finally, Ms. Yau identified some business savvy strategies that a new inventor must possess in order to thwart possible scam companies that may not have the inventor’s best interest in mind.

Filed under: Business Talk: Blog Talk Radio Episodes, Patents by Yau Jo-Anne Thursday, March 1st, 2012