Patents are described in our costitution, as if the founding fathers knew that protecting intellectual property was a path to our fledgling country's economic development and empowerment of any individual, regardless or race, gender, or views on politics or religion.
Patent protection is an example of equality. Facilitating the patent process is an example of equity, and I repost articles like this to facilitate #equitable #education. I hope it helps my #Linkedin connections to rise up in a corporation, dabble in #entrepreneurship, or simply try to improve the world by making an invention public domain.
Patents have a few broad categories. This #USPTO article mentions utility patents, which is a way manufacturing companies can innovate and become more efficient at making products, keeping jobs close to home yet remaining competitive globally. Anyone who pays attention to details with a mindset to reduce mistakes and increase quality assurance can file a utility patent application.
Design patents are usually a product - the thing being manufactured - and competitive design features can become a design patent. Some design patents are so recolutionary that they stand out, like my go-to example of Sara Blakely becoming the world's first female self-made billionaire after patenting Spanx legware. My design patents weren't lucrative like Sara's, but they added a few details to medical implants that helped our sales team reach new customers, which helped our company be acquired for $42 Million.
The final big category are method patents, which tug at my heart because they are unicorns, broad patents that, unlike design patents, are rare and often stand alone. Many revolutionary medical treatments are method patents that solved big problems.
Medical devices are unique in that we already know how many customers there are, and therefore we know our market size and can focus on #quality and #regulatory challenges. My go-to example is the inventor of spinal fusion cages - the method of placing something between spine discs to provide support for bone growth - who became the world's first overnight billionaire when Medtronic paid him $1.1 Billion for his patent portfolio and gained dominance in what was then a new $4 Billion industry that revolved around innovation, regulatory compliance, and #QualityAssurance
Anyone with access to a computer and the internet - or with a pen, paper and a postage stamp - can file a patent. Black, white, brown, yellow, red, male, female, right, left, and all shades between; at a time when women and African Americans couldn't vote, they could still invent and be guaranteed equal rights under U.S. law. #Education leads to #equity, and a pen can be mightier than a college degree.
To get started patenting, search "provisional patents" and read the USPTO website. Most importantly, begin with an end in mind, either your benefit or others, and try to
enjoy the process and keep inevitable frustrations in perspective.
Good luck!
We’re proud to support the visionary innovators and relentless workers who propel America forward.
Through patents and trademarks, the USPTO has helped support the manufacturing industry, which is granted about 66,000 utility patents annually. The industry accounted for about 13 million jobs in 2019, according to recent statistics from the Department of Labor.
And it doesn’t stop there.
We grant more than 9,500 utility patents and 500 design patents annually for medical-related manufacturing and pharmaceutical industries combined – with 3,200 trademark registrations annually. Those industries employ more than 600,000 workers in the United States.
As we pause to pay homage to America’s earliest manufacturers, we celebrate modern manufacturers, like Patricia Bath. She’s the first Black woman to receive a medical patent for a device and technique she patented and manufactured for cataract surgery.
#Inventor #CreatorsWanted #MFGDay24 #ThePowerOfYou #ProtectWhatYouLove
Image: Courtesy National Inventors Hall of Fame
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2moWhat a wonderful bit of news, OCON Therapeutics team members!!! Keep the good times rolling!