Startup and New Business Guide for Akron Inventors With Patentable Inventions
As an entrepreneur, it is imperative to take advantage of the available resources and tools to launch a successful new business. There are a number of programs available to help you grow your business and protect your invention. These programs can help you develop the skills and knowledge necessary to continue developing your invention. Below, you will find a list of resources that can be of great help.
Alternative forms of protection for patentable inventions
For those who are seeking patent protection for their inventions, the Akron-Summit County Public Library offers several resources for those interested in learning more about the patent process. The library offers free business and legal advice and also hosts a monthly program aimed at inspiring independent inventors. Additionally, the library offers a newsletter dedicated to inspiring and educating local innovators. All of these resources are available online, and the library has several locations throughout the city.
Trade secret and patent protection are complementary, but they cannot cover the same invention. Trade secret protection is destroyed when the invention becomes public. In general, they cover different aspects of a business and can provide complementary protection for the same invention. Therefore, it is important to choose which type of protection best suits your unique needs and circumstances. Both types of protection can protect your creations, but you must decide which is best for you.
While patent protection can be expensive, it can spur innovation. By giving creators a period of monopoly over their invention, a patent can help them recoup the cost of developing the idea. Patent assignment is another option, as this gives the creator the right to sell, license, and sue other parties who copy their invention. In addition, patent assignment allows the creator to make money from their creation without paying patent attorney fees.
Grants, aids and funding for Inventors
If you have an invention that has potential for commercialization, you should consider applying for grants, aids, and funding. These programs provide millions of dollars to help entrepreneurs develop their innovative ideas. However, you must be able to prove that your invention is original and not a copy of another existing product. Without this proof, you will have trouble applying for grants. A detailed business plan is also a necessity.
You can also look for grants that are available from nonprofit organizations that are promoting new products and ideas. Non-profit organizations can offer grant funds to promote social enterprises. If you have a good plan, a grantor will see that you’re serious and deserving of the funds. And don’t forget to look for inventions clubs in your area. These organizations will help you get in touch with the right people to apply to.
One of the major barriers to obtaining patent protection is a lack of financial resources. Without financial resources, many inventors give up the process before their concepts are thoroughly evaluated. The Inventor Assistance Program helps under-resourced innovators get the financial support they need to turn their ideas into commercial assets. This program pairs the inventor with an experienced intellectual property expert to help draft a patent application.
One of the many ways to make your invention more profitable is to turn it into a social enterprise. A social enterprise, also known as social entrepreneurship, is a hybrid business model. These businesses combine nonprofits with for-profit companies to create social change. They then sell their products or provide services to others while receiving a financial return. This model is increasingly popular because it is a proven way to generate a profit while making a difference.
The concept behind social entrepreneurship differs from social service in that a social enterprise is designed to benefit other communities. Andrew Carnegie’s single public library, for example, would have clearly benefited the community that it served. However, his goal was to build a system of libraries that would be accessible to everyone in the U.S. and provide education, information, and inspiration to all people.
A social enterprise aims to eliminate a systemic issue. Usually, the entrepreneur will identify a group suffering from marginalization, exclusion, or economic inequality. He will then develop a social value proposition that will address that issue and challenge the existing state of hegemony. This new equilibrium will release trapped potential and alleviate the suffering of the targeted group. In the process, the new system will also create a more stable environment for everyone to enjoy.