Entrepreneurs and Intellectual Property

When entrepreneurs are becoming more focused on starting their own business, they need to consider protecting their intellectual property. Why should they think this way? Because they should know that someone can take their business idea and, if not patented, make it their own. That's when you will find in stores spin-offs of familiar products with odd names. These entrepreneurs took someone else's idea and had it rebranded.

Thus, if you have a great idea, you should consider filing for a patent. Patents will offer fourteen to twenty years as yours. Fourteen years is the life of a design patent, whereas twenty years is for a utility patent. However, you must remember that it could take about three years to have your patent examined. There are over 500,000 patent applications waiting to be reviewed by a patent examiner.

If you are willing to spend an extra one thousand dollars ($1,000), then you can have a decision within a year. This is considered to be a prioritized patent application. Do not forget that it is up to you, the entrepreneur to sue a potential competitor for infringing on your right to an idea. The United States Patent and Trademark Office just grants a patent, it so not defend it for you if someone else takes your idea and starts selling your product or service.

Prototypes should be carefully designed. However, you should get a confidentiality agreement in place before you start contacting a manufacturer who could build a prototype of your idea. It should be your agreement that your attorney has written in your best interest. Once you are confident you have a prototype, you should be well on your way to beginning a marketing scheme.

Next step will be to confirm your patent is accepted. This usually takes about three years, so in the mean time, hold back on running to a trade show and giving away free samples. That could destroy your patent chances.

Pro-Bono Trademark Applications Come to Saint Louis

A recent development in Saint Louis is the Pro-Bono Trademark Application that is now available at the Saint Louis University School of Law. Professor Patrica Lee heads up this valuable program that offers SLU law students the opportunity to help clients with free trademark advice. It is a win-win situation where students gain experience with talking to the public and the public gain free advice and help with their trademark application.

If you are interested to start-up a business, but do not have the funds to complete a trademark application, you may be eligible to get a free trademark application done by SLU law students, under the guidance of  SLU Law School professors.

To reach Professor Lee, Associate Professor and Director, Legal Clinics, at the Saint Louis University School of Law, Patricia Lee, J.D. you make an appointment to visit her office at 100 N. Tucker Blvd., Suite 704, Saint Louis, MO 63101-1930. She also may be reached at her directly at her office at: (314) 977-4155, or use the general phone line at (314) 977-2778. Email is:  leeph@slu.edu. Website is:  http://law.slu.edu.