FRACTIONAL IP COUNSEL Archives - Martin IP Law Group

COPYRIGHTS, ENTREPRENEUR, FRACTIONAL IP COUNSEL, INNOVATION, INTELLECTUAL PROPERTY, INVENTORS, PATENTS, TRADE SECRETS, TRADEMARKS

What is Intellectual Property (IP)?

As a business owner, inventor, or creative thinker, coming up with unique, new, and innovative ideas is what you’re best at. But despite the individuality that comes with creating new concepts, it’s easy to have them stolen in today’s consumer culture. The old saying, “copying is the oldest form of flattery,” isn’t as true today as it was in the past.

Stealing an idea and profiting from it as if it was your own has always been frowned upon, but being copied in 2023 could significantly impact your business – or land you in a lengthy legal battle. While the Martin IP Law Group team can help if this happens, we’d rather help ensure that your ideas, or intellectual property (IP), are protected from the beginning.

Let’s start by defining what IP is. The World Intellectual Property Organization defines intellectual property as “creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names, and images used in commerce.” These are all intangible assets, which carry the same weight as tangible assets.

What are the different types of intellectual property protection?

Intellectual property laws give you exclusive rights to your property and allow you to sell it to the public and profit from it. However, there are different types of IP protection.

Copyright: Copyrights protect literary or artistic creations like books, films (i.e., movies, documentaries), software, or music. It prevents other business owners from distributing, reproducing, or using the work in other ways without permission. For example, an author would copyright a series of books to stop other writers from copying their ideas.

Trademark: A trademark is a unique word, phrase, design, or symbol distinguishing a business’s products or services. Other businesses cannot create a similar or identical material with this protection. Brands like Apple or Burger King are examples of trademarks.

Patent: Patents are government-granted exclusive rights protecting inventions or discoveries. The patent owner is the only one allowed to produce, use, or sell it. Some of the most well-known patents are items you use every day, such as the telephone (Alexander Graham Bell) and the lightbulb (Thomas Edison).

Trade Secrets: Unlike the other types of IP protection, trade secrets are confidential pieces of information vital to the operation of a business. Examples are manufacturing processes, customer lists, or marketing strategies. When this information is classified as a trade secret, it prohibits public disclosure or competitor use. Famous trade secrets include the Coca-Cola recipe or the KFC Original Recipe.

How do you start protecting your intellectual property?

IP laws help maintain a balance between creativity and providing incentives for individuals and organizations like you to invest their time, resources, and talents into producing groundbreaking ideas and original products. At Martin IP Law Group, we work with entrepreneurs to protect their information, propelling your business toward success. From the application process to celebrating the finalization of IP rights, our legal experts are with you every step of the way. Contact us today to schedule a consultation.

COPYRIGHTS, ENTREPRENEUR, FRACTIONAL IP COUNSEL, INNOVATION, INTELLECTUAL PROPERTY, INVENTORS, PATENTS, TRADE SECRETS, TRADEMARKS

What’s New at the USPTO?

The United States Patent and Trademark Office (USPTO) released new updates about the patenting process! Here’s everything you need to know about the changes.

As a new patent holder, one of the things you might look forward to the most is receiving your certified patent grant. With its gold seal and official display, it gives you something to show for your accomplishment. However, as of 2023, these certificates will no longer be sent to patentees – or, at least not for free.

So how does this benefit you?

Although you now have to pay more for a physical paper certificate, it does reduce the time it takes between when the issue fee is paid and the issuance of the patent. In addition to that, if you’re a client of Martin IP Law Group, you’ll get your certificate AND a plaque with a copy of your patent on it. We know how important it is to commemorate your accomplishment, and we want to celebrate with you!

The USPTO is also reducing rates for micro and small entities, saving you money and making it easier for small and local businesses to obtain a patent. Instead of a 50% and 75% reduction, you can receive 60% or 80% off the total cost.

Both updates went into effect after April 2023.

Want to stay in the know about future USPTO updates and other legal news? Follow us on LinkedIn, Instagram, or Facebook to keep up with everything intellectual property-related!

ENTREPRENEUR, FRACTIONAL IP COUNSEL, INNOVATION, INTELLECTUAL PROPERTY, INVENTORS, PATENTS, TRADE SECRETS

USPTO First-Time Filer Expedited Program Requirements

As you may have heard, the United States Patent and Trademark Office (USPTO) recently announced the new “First-Time Filer Expedited Examination Pilot Program.” In years past, this expedited process would cost several thousand dollars, but it’s currently being offered for no additional charge. Inventors must typically wait over 20 months for an examiner to review the application and return a written notice of findings. With this pilot program, that time is reduced to less than two months in most cases! The pilot program does have some rules and guidelines you need to know before filing.

First, let’s go over the patent basics. Starting with, who can apply? You, your legal representative, or you and a joint inventor, with the exception of the death of an inventor, the inventor refusing to apply, or the inventor cannot be found. Your invention must also oblige with these four conditions. The invention has the ability to be used, a clear description of how to make and use the invention, the invention is new and not something that has been done before, and the invention is new and not a change to something that has already been invented.

Congratulations, you’ve met all the basic patent requirements! Now, can you file in the USPTO First-Time Filer Expedited Examination Pilot Program? First, you must be a first-time filer; your name cannot be on other nonprovisional applications. The applicant and/or joint inventors must qualify under the gross income basis requirement for micro entity status. Inventors must understand the basics of the patent application process. The pilot program is not open to those continuing applications, applications claiming a right of foreign policy, and those entering the national stage under the Patent Cooperation Treaty.

Lastly, let’s go over the basics for the application to the USPTO First-Time Filer Expedited Examination Pilot Program. Your application must include a specification of the invention, drawings if necessary, at least one claim, an oath or declaration in compliance with 37 CFR 1.63 for each named inventor, and payment of all appropriate fees prior to or concurrently with filing the petition.

Remember, this opportunity lasts until there are 1,000 applicants or March 11, 2025. If you’re interested in this opportunity to bring your invention’s impact to life much quicker than typically expected, contact our team to set up a consultation! The Martin IP Law team has helped successfully register hundreds of patents for our clients.

BRANDING, COPYRIGHTS, ENTREPRENEUR, FRACTIONAL IP COUNSEL, INTELLECTUAL PROPERTY, PATENTS, START UP, TRADE SECRETS, TRADEMARKS

Fractional IP Counsel – Is it right for your business?

Fortune 500 companies like Apple, Microsoft, and Google have teams of in-house intellectual property attorneys who constantly monitor and advise the company on how to identify and protect their ideas, inventions, and identity. The intellectual property of a small or medium sized business can be even more valuable to that company, but may not be extensive enough to justify a full-time, in-house intellectual property attorney on staff. Under our Fractional IP Counsel plans, your small to medium sized business will get the same or similar services as the Fortune 500 companies, albeit to a lesser extent based on your company’s needs, but for a fraction of the cost.

Intellectual Property is a huge asset that is often overlooked. It’s a big part of a lot of businesses, whether it be trademarks, patents, copyrights, or trade secrets. Whether you are a startup, small or medium sized business, or even a large business with an in-house general counsel who does not have expertise in IP law, your business would benefit greatly from one of our fractional IP counsel plans that can be tailored to your specialized needs.

Our Team works with you to provide proactive legal representation

One of the best benefits of hiring fractional counsel is that you are taking a proactive approach to risk management rather than a reactive approach. Instead of reacting to legal problems, you are working with an IP attorney and staff to prevent or mitigate future liability. Regardless of the size of the company, a reactive approach to dealing with legal matters increases the risk of future liability. A proactive approach can reduce the time and cost of dealing with legal matters.

Through our fractional counsel plans, we learn about your business, your goals, and your team to help you grow your company and develop legal strategies and plans that work for your company. Your fractional legal counsel is available to address your legal needs when you need a lawyer, not when a law firm can return your call. Our plans are customizable, so if your needs change, we can adjust the plan to grow with you.

Our fractional counsel plans provide all of the legal services that your company needs for a set monthly fee. This allows small and medium sized companies to have the immediate access to legal counsel that has historically only been available to large companies with in-house attorneys. And by having a set monthly fee, your company has greater control over legal expenses and can budget for legal expenses much more effectively.

Free up your time to grow your business and save money on legal fees

Because our fractional counsel plans are proactive, legal emergencies rarely happen. When they do, you can rest assured that we will be there to handle them so you can continue to do what’s important – run and grow your business! Because the attorney is a part-time contractor, you control how much money you spend for ongoing legal services and what legal services are included in the contract.

Hiring a full-time in-house attorney with salary and benefits is cost prohibitive to many smaller companies. Hourly rates at law firms with attorneys experienced in handling complex intellectual property transactions can exceed $500 per hour. Hiring a part-time attorney with a flat-rate fee is less expensive than either option. And because we are contractors, not employees, you don’t incur the costs in providing comprehensive benefits.

Use Fractional IP Counsel to avoid the five most common mistakes businesses make in protecting their IP

Companies utilzing the traditional approach to hiring an outside IP attorney may ultimately obtain patents, trademarks or copyrights to protect their assets, but they are leaving a lot on the table in additional assets that could and should be protected. Issues concerning proper ownership and the best form of IP protection are often overlooked. Thinking global and monitoring competitors’ IP positions and portfolios are not often considered in the traditional approach. If you want to avoid the five most common ways in which companies fail to adequately protect their intellectual property, click here to download a copy of our FREE REPORT.