I have often heard entrepreneurs describe their ah-ha moment as the desire to solve a problem or the one thing that bugged them so much that they just had to solve it. Several described the process as feeling the pain and figuring out how to remove it.
I did have that ah-ha moment but also had the additional problem that a potential ID your IP customer may not know their risk until it's too late. In a nutshell, before you can protect your IP with a patent, trademark, copyright, or trade secret, you must know what IP you possess and the risks of not protecting your IP.
So in addition to designing a low cost solution to identify IP, I also had to address the problem of customer awareness of IP and the risk associated with ignoring their IP. More in a later blog.
After mulling over these issues and problems, I decided to use the what if model. Brainstorming how to provide this services to inventors, creators, and start-up entrepreneurs I came up with the following list after talking to potential clients and partners in confidence:
- What if people could identify and secure their IP online? In a simple set of questions rather than an IP Audit. Surely that could be done in a more economical way than in person.
- What if we could provide this service without people feeling like they had been audited? So the word audit should really be inventory. Here we refer to this IP inventory as Potential Intellectual Property or PIP.
- What if people could have a report of all their Potential IP to bring to an attorney? The initial online review produces a PIP report that provides information to save you time and thus money with an attorney.
- What if people could also time-stamp and store that IP to prove that they created it first? Okay, I wish I listed that idea in the first phase but that is the subject of another blog on the genesis of the IP Vault.
- But why not have a place where, for a fraction of the cost of a visit to a consultant or an attorney, someone can easily identify IP, receive business advice, and access member resources.
Introducing ID your IP
We are building ID your IP now and it will be available next month. In the meantime, gauge your risk of IP loss in our Free Quiz
Comments or questions welcome at firstname.lastname@example.org.