Startup And New Business Guide For Oklahoma Inventors With Patentable Inventions
Startup and New Business Guide for Oklahoma Inventors With Patentable Inventions
If you’re an Oklahoma inventor with a patentable invention, you’ve come to the right place. This Startup and New Business Guide is designed for inventors just like you. We cover the essentials of obtaining a patent, marketing your invention to potential licensees, and working with TBDO. There are several steps to take when starting a new business.
Getting a patent
In order to receive a patent for your invention, you must have a novel, non-obvious idea. This means that it is unlikely that someone else has already come up with the same idea. The patent office has databases that include prior art. You can use these databases to check whether or not your invention has already been patented. Even if your invention has not yet been patented, you can still try to apply for a patent.
First, you must prepare a detailed specification. Your invention should be described in detailed, accurate and concise terms. This document must be able to teach a person of ordinary skill how to make and use your invention. Specification requirements are strict, and you should make sure that you adhere to them. If you violate any, you may find your invention rejected. You can watch a video that will show you how to prepare a thorough specification.
You can appeal the examiner’s final determination of patentability if you disagree with the findings. The Patent Trial and Appeal Board is comprised of experienced senior patent examiners who hear arguments about your patent application and evaluate all relevant documents. If you disagree with the examiner’s decision, you may want to consider filing an appeal. The board’s decision may be completely different from the examiner’s.
A non-provisional patent application costs between $900 and $12,000, including the examination fee. The total cost of a non-provisional patent will depend on the complexity of your invention. A relatively simple invention may only cost a few hundred dollars. In contrast, a complex invention may cost as much as $10,500 or more. If you want to be completely sure that your invention is the next big thing, you can hire an attorney to help you.
A university’s patent policy is another issue. The university’s policy is very vague and confusing. University of Oklahoma inventors are required to disclose ownership of their inventions and assign all rights to the university. The policy is also difficult to understand if you are talking about ownership, but it’s necessary to comply with Oklahoma patent policies and laws. Once you’ve made sure that your invention is patentable, the next step is preparing to file a patent application.
Marketing your invention to potential licensees
Among the best ways to market your invention to potential licensees is to develop a sell sheet. A sell sheet is a one-page description of the benefits of your invention. In addition to the sell sheet, you should prepare a non-disclosure agreement and include work-for-hire language. After developing the sell sheet, you should contact potential licensees to discuss the business arrangements. Once you have a list of potential licensees, write down the information they need to know about your invention.
If you have multiple potential licensees, then you have the advantage of leveraging your own unique selling proposition. Potential licensees are less likely to shy away from your product if you have an existing patent on it. Having a patent will also increase the value of your invention. You can also increase your chances of landing a licensing agreement if you have a trademark or design patent for your invention. It is better to develop a long list of potential licensees than relying on one or two. In this way, you will be able to secure multiple licensees for your idea. In some cases, you may be able to reach a final licensing deal with multiple companies.
Once you’ve gathered your contacts, you can then begin to market your invention to them. It’s important to remember that it is a risk to license your invention and accept the terms of the manufacturer. As an added measure, you can hire a consultant to help you with licensing. These consultants will charge a fee for reviewing your idea, creating samples, and applying for patents. You’ll also need to write a compelling sell sheet, which can help potential licensees evaluate your invention.
As with any endeavor, marketing your invention to potential licensees is essential to establishing its patent rights. Without market awareness, your invention is unlikely to get commercial success. However, this can increase your invention’s value. In this way, you can justify investing in the new product and maximize its commercial value. If you’re ready to start the process of marketing your invention, you’ll be well on your way to a commercial success.
Finding a licensee
The process of finding a licensee for Oklahoma patentable invention starts with identifying the type of license that you need. In most cases, license agreements are contractual and grant the licensee the right to make, use, and sell the invention. The licensee pays a license fee, which is usually a percentage of the net revenues or a royalty, which is a flat fee per unit sold. The license can be for a set period of time or may be for a certain geographic area. Licenses are often renewable month-to-month, and are not required to last for a specific number of years.
Respondents indicated that they received license requests from competitors, NPEs, and universities. The latter group fared better than competitors and non-product-producing entities. While a license may be rare, most licensing occurs outside of the courthouse. However, there are some exceptions. For example, NPEs and universities typically do better than competitors. Product-producing companies and universities tend to have better luck finding licenses.
Working with TBDO to get a patent
TBDO provides assistance to many Oklahoma inventors by providing them with patent agents. Patent agents are professionals who work in various fields of law and can assist Oklahoma inventors with various aspects of patenting their inventions. They provide the necessary legal assistance and can protect your idea against any infringement. They can also assist you in gaining funding for research and development. There are many benefits of working with patent agents, and the process can take several years.
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