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Last Update: Thursday October 19, 2017

Key Idea: Take Time To Protect Your Ideas

Host Hattie Bryant talks about the power of the US patent system.

Key Question:

A: 

It will take more time than money. There are small fees and you might hire an attorney but if you plan to build a business, the hard dollars you spend in this process are basic to your success.

Before patent, trademark and copyright laws were put in place, the primary source of wealth was land. More than 5 million patents have been issued in the United Sates since the first patent law of 1790. The system is working.

Q: How is wealth created by a protected idea?

A: A protected idea has more value than does an unprotected one. However, the MP3 technology turned millions of mostly young people into thieves. The thief is the one who takes something that doesn't belong to him. The creator of a song spends years, or months or days thinking about melody and lyrics. He spends money recording the song and puts it into album form with a copyright mark. The creator sacrificed time and money to bring the product to market and legally is protected.

If the thieves win and then the song has no value. If the creator wins, he will be compensated and have the funds to create again. Paying for one song funds the creation of the next and everybody then wins.

Think about it

What do you need to do now to protect your inventions, your name, your logo and your print materials?

Clip from: NoUVIR: Lighting Is Big Business

Seaford, Delaware: The bold among us take on the giants of industry.  This episode of the show is a classic David & Goliath story. Their slingshot is the US Patent & Trademark Office and Goliath looks like GE, Osram Sylvania, and Phillips.

Meet two small business owners who have slain the giants. Their advice for inventors is timeless.

Ruth Ellen Miller and her ever-inventive father and business partner, Jack Miller,  are  two of the brainiest people we've gotten to know and we've met lots of geniuses since the first episode back in 1994. They hold over 100 patents; they're expert witnesses on patent infringement lawsuits. And, they truly understand the heart and soul of intellectual capital. Their lighting business is the working evidence. Museums around the world come to them to provide the type of lighting that does not damage physical artifacts.

Their company is NoUVIR.  They create pure light -- no UltraViolet and no InfraRed. UV and IR found in typical lighting will destroy art and artifacts over time. 

NoUVIR

Ruth Ellen Miller, Co-founder

Highway 13
RR4 Box 748
Seaford, DE 19973
3026289933

Visit our web site: http://www.nouvir.com

Office: 3026289933

Business Classification:
Lighting

Year Founded: 1990

Take Time To Protect Your Ideas

HATTIE: (Voiceover) In his book, "The Fire of Invention," Michael Novak writes about the importance of the patent and copyright clause in the US Constitution. He says, `During most of human history, land had been the most important source of wealth; in America, intellect and know-how became the major source.' Abraham Lincoln was the only president to hold a patent and thought patents would keep the West from being dominated by wealthy land owners. More than five million patents have been issued in the United States since the first patent law of 1790. Ruth Ellen and Jack hold over 100 of these.

The system is working. It allows wealth to be accumulated by millions, while the old way of doing things kept wealth in the hands of a few. Patents protect products while copyrights and trademarks protect words and symbols, the articulation of ideas. Ruth Ellen and Jack advise us to protect our ideas and they even tell us how to do it. The government has put a system in place for us to protect and profit from our inventions and ideas. You can find all the answers to your questions at the Web site of the US Patent and Trademark Office, uspto.gov. Ruth Ellen says, `To build a business, invent a breakthrough product, then take the time to protect your invention.'

(Voiceover) At SmallBusinessSchool.org, you can go deeper and learn more about all aspects of starting and growing a business.

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