The Nevada INVENTOR
Official newsletter of and by the Nevada Inventor's Association
Volume: XVI No. 10 -Education, Assistance, and Networking for the Inventor- October 2004
Next Meeting: November 23, 2004 9:00 AM Washoe Medical Center Room cr101
Our web site is 'www.nevadainventors.org' Founded in 1988
We are a 501(c)6 group under IRS rules.
The purpose of NIA is to educate inventors and potential inventors through whatever means available, including regular meeting, classes, seminars, workshops, and evaluations, within NIA or in cooperation with other persons or organizations. The education of inventors, or potential inventors, may also include the publishing of written materials, such as a regularly published newsletter, flyers, notices, or letters.
Additional goals of NIA are to inform its members of private, civic, governmental, and public resources which may be of assistance to inventors; to promote a positive public image of inventors; to provide for its members a referral/resource directory; and to furnish assistance to its members, whenever possible, by directing their efforts toward the successful development of their inventions.
"Techy Halloween Pumpkins"
Patent Cafe Staff Tuesday, October 05, 2004 Texan inventors Eric and John Tauch filed US Patent Application # 20030189825 for DECORATIVE ELECTRONIC LIGHTING FOR HALLOWEEN PUMPKIN sometime around Halloween, October 2003. (It's scary how events can switch on the lightening bolt of invention.) this invention is a claimed to be breakthrough in a long tradition of putting burning candles into a Halloween pumpkin. Then again, what's "tradition" if it's being replaced with a Frankenstein lighting system? The device is comprised of an array of multicolor light emitting diodcs, micro-controller, and accompanying l.ED (light emitting diodes) software.
The software, in turn, sequences the LED devices at various intensity levels, on/olRduration, and color combinations, thus producing multiple light effects. The illumination devices are comprised of light emitting diodes, incandescent bulbs, neon bulbs, fluorescent bulbs, or laser. This amazing invention will certainly create a new generation of Halloween Jack-O-Lanterns - bnghter and scarier, and a little more costly!
LeAnn Terrell filed US Patent Appl. #20030086260 in May 2003 for an illuminated Halloween Candy carrier!! It's intended for kids and it is a large bueket-shaped container, which may be shaped like JackO-Lantern, a ghost, a vampire or any other Halloween character. At the base or bottom of the container is a battery holder for two AA or C type batteries, along with a switch, and an incandescent lamp identical to the type of lamp for a flashlight. A series of "tracer" lights or sequentially flashing lights are located in the handle and are electrically connected to the same battery pack and switch. When activated, the invention produces a gloving effect throughout the container. This glow, coupled with the attention gathering characteristics of the tracer lights, helps to increase the visibility of the child carrying it on a darkened street.
Defnitely for llalloweeners on the Atkins Diet - so, getyour treats readyfor a glowing little ghost rooming on the street!
By Dave Lavinsky Wednesday, September 01, 2004
Most companies that are worthy of raising venture capital have proprietary Intellectual Property (IP). in fact, the quality of the IP and the management team are often the two most important aspects of a venture capitalist's investment decision. The challenge that many ventures face, however, is that most investors will not sign non-disclosure agreements (NDAs), and NDAs are critical to maintaining the proprietary nature of the IP This article details the appropriate strategy for addressing proprietary IP in your business plan in order to attract investor attention while retaining the confidentiality of your inventions.
Focus on the Benefits of and Applications of the IP
The business plan should not discuss the confidential aspects of the IP. Rather, the plan should discuss the benefits of the IP. Remember that even the most amazing of technologies will not excite investors unless it has tangible benefits to customers.
The business plan first needs to discuss the products and services into which the IP will be integrated. It then must detail the benefits that these products and services have to customers and differentiate them from competitive products. When applicable, it is helpful to include nonconfidential drawings and backup materials of the products and services in the Appendix.
Focus on Customer Needs and the Relevant Market Size The business plan must also discuss how the benefits of the IP fulfill a large customer need. To accomplish this, the plan needs to detail customer wants and needs and prove that the company's offerings specifically meet these needs
Secondly, the plan needs to discuss the marketplace in which the IP Is offered and the size of this marketplace. Critical to this analysis is determining the relevant market size. The relevant market size equals a company's sales if it were to capture 100% of its specific niche of the market. For example, a medical device's market size would not be the trillion dollar healthcare market, but rather the sales of all competing medical devices.
Focus on Competition and Competitive Differentiation
Your business plan must also prove that your IP is better than competitive inventions. In identifying competitors, note that listing no or few competitors has a negative connotation. It implies that there may not be a large enough customer need to support the company's products and/or services. On the other hand, should there be too many competitors, then the market may be too saturated to support the profitability of a new entrant. The answer -- any company that also serves the customer needs that you serve should be considered a competitor.
The business plan should detail both the positive and negative aspects of competitors' IP and products/services and validate that your offerings are either superior in general, or are superior in serving a specific customer niche.
Prove that you can Execute on the Opportunity
As importantly as proving the quality of the IP and that a vast market exists for its applications, the business plan most prove that the company can successfully execute on the opportunity.
The plan should detail the company's past accomplishments, including descriptions and dates when prior funding rounds were received, products and services were launched, revenue milestones were reached, key partnerships were executed, etc.
When a company is a complete start-up, and no milestones have been accomplished, the plan should focus on past accomplishments of the management team as an indicator of the company's ability to execute successfully.
Results: Getting Investors to Sign the NDA
If you are able to convince the prospective investor that the IP is integrated into a produc/service, which yields real customer benefits in a large market, then the investor will take the quality of the invention for granted when reviewing the plan. Later, during the due diligence process, the investor will review the actual technology. At this point, a discussion regarding signing an NDA would be appropriate.
"A smile is an inexpensive way to irnprsve your looks." "Of all the things you wear your expression is is the most importont." "A pint of example is worth a gallon of advice." "God's last name is not 'Dammit' " "Success comes in cans. Failure comes in can't" "The Ten Commandments are not multiple choice." "Some folks won't look up until they are flat on their backs." "No man knows less than the man who knows it all. "
Universities and Companies: Odd Couples Can Profit With the Right Kind of Licensing Deal
Hensy Stimpson, Stimpson Communications Thursday, September 16, 2004
A University that's invented a biotech or electronic breakthrough can earn royalties by licensing it to a company that will profit by taking the new technology to market. What's not to love? Plenty, if it isn't done right, according to intellectual property lawyers Liza S. Vertinsky and Patrick Waller of Wolf, Greenfield & Sacks, P.C. in Boston.
Different goals often result in tensions. The company wants to manage the financial nsks of unproven technologies while the university wants to provide a public benefit and generate revenue. The university is often bound by the requirements of federal and state funding agencies.
Key issues include:
The scope of the license-broad enough to give the company room to respond to changcs in the marketplace, but without tying up IP rights the company is unlikely to use.
Obtaining rights to future IP. By working together, the company and university can manage issues such as commingling of funds to ensure consistency of university commitments and adequate company rights.
Royalties, fixed payments and other costs. Diligence requirement and publication requirement. IP Protection.
Vertinsky and Waller are among several Wolf Greenfield IP experts speaking at the Licensing Executives Society's 40th annual national meeting in Boston, Oct. 18-20.
Contact: Henry Stimpson, Stimpson Communications, 508-647-0705, Henry@StimpsonCommunications..com
Wolf Greenfield (wvvw wolfgreenfield.com), Boston, is one of New England's largest and oldest intellectual property law firms, serving companies that make everything from snowboards to biotech drugs to electronics to water-purification systems plus universities and research centers.
Practice areas: biotechnology, chemical, electrical & computer technologies, IP transactions, litigation, mechanical, trademark and copyright, including Intemet issues.
by Patent Cafe Staff Saturday, September 18, 2004
In 1903 an Alabama resident, Mary Anderson visited New York City. Unlike most other tourists who remembered New York as the city of long and wide streets, lots of people, tall buildings, theaters and the Central Park.
Mary Anderson had a deep impression of New York's weather with all the snow and rain comming down, making walking a most unpleasant experience. Driving wasn't much better either, because tne driver had to actually leave the car from time to time to wipe the snow and ice from the windshield.
That made the ride long and cold, with rain and snow constantly being blown onto the driver and passengers.
Moreover, the drivers had to stick their heads out of the car window to make a turn because they weren't able to see the traffic clearly - all because of that slush on the windshields.
Something needed to be done. That idea stuck in Mary's mind, and she started dwelling on the problem in her mind - how to clean off the windshield of a car without either leaving That idea stuck to Mary's mind, and she started dsvelling on the problem in her mind - how to clean off the windshield of a car without either leaving the car or opening the window? How to do that from the inside?
Less than a year had passed, and Mary came up with an idea. It was a simple mechanism - the driver pulls a lever that releascs a spring-loaded arm. The arm is equipped with a rubber blade, and it swings across the windshield, wiping away snow and rain. She soon applied for a patent for this windshield-clearing device In 1905, Mary Anderson got her patent for windshield cleaners. However, as hard as it is to believe it, this device found only skepticism, and it took the automotive industry 8 years to get used and to appreciate this wonderful and useful invention.
How could they have ever gotten without it?
If you haven't herd yet, member Don Evans has much to be proud of in his grandson Danicl Evans.
Daniel won a high profile contest from the Milwaukee Institutc ol Art and Design There were contestants from around the world and the USA had entries fro Mrr, Yale and other outstanding universities.
Out of 23 projects chosen, there were only 2 designs selected fr the USA Daniel's project stood out like a violet in a snow patch. His entry was of a flashlight that uses fuel cell energy (nitrogen and oxygen.)
Congratulations to Daniel Evans and Kudos to Don for having such a bright grandson.
Sharon Costello has been retained by evco (member Don Evans to market the GRO E-Z system.
GRO E-Z System is a container that grows plants in sand ! it SELF WATEKS so you only refill the base every month and grows the most FABULOUS, HEALTHY & ABUNDANT plants..
Like you can't believe ! ! !
For only $14.95 you can have a green thumb. If your mind is turtling toward gift buying for Christmas, this is a great gift for evervone on your list.
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