Friday, May 8, 2009

Patent first always??

I was just responding to a LinkedIn question on how to move forward with an MP3 innovation from a sincere inventor. Most of the answers were IP attorney type responses. Patent first, Non-disclosure everything, don't move or breath until done (or at least that was my takeaway). I would submit with open innovation forums like IdeaConnection BulbStorm PlanetEureka which are low cost/free? to more well established ones (higher cost/more technology driven) Innocentive and NineSigma , that there are other options. Now yes, anyone you talk to seriously you should have some sort of Non-disclosure Agreement (NDA) to cover your assets. And yes, a patent is the ultimate "pay to play" tool where investors like to see you've made that effort first before discussion, BUT, are there parallel processes using open innovation sites like the above to have "non-disclosure disclosure". Share enough but not too much. Get some buzz going about your idea. Let the listing drive some investors to you. Do you need to be careful? absolutely! Do you need to investigate an NDA with whoever you talk to? Most likely.

Here are some lower hurdles that can get you going. File a provisional patent, good for a year ($110) and less paperwork as you move towards a formal patent and gives you some protection. Use the sites above to explore what's already out there to get your brain engaged. Share your idea without explaining "how" it's done (maybe in parallel with a provisional patent). Let others comment on your idea, use the forums to help publicize what you are trying to do. Who knows? the next best step may be a helpful collaborator to improve the innovation rather than a corporate savior who swoops in to license your "perfect" solution.

Lastly, tactical innovation involves some risk. Sharing ideas for input with others is part of the collaborative community that makes innovation more robust and grow. The reward for any exposure risk you take is most likely enhancement to your idea. Can someone steal it and leave you penniless, I guess, but this "lawyerly" view is overblown. Lawyers want no risk, airtight agreements, secrecy. Strike the balance in innovation. Garner group/community/like-minded input while still protecting yourself through the NDA and provisional patents. Turn the protection tools into open windows not locked doors.

What has been your experience with using any of the open innovation tools that are out there??

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