By: Tyler McIntyre
It all starts with an idea. In a Startups for Dummies book, that would be the first step. It is true that not all ideas are potential million-dollar ideas, but when they are and when well-executed, they have the potential to change not only one’s life, but also the lives of millions of others. The conception of that idea is the beginning of a journey, much like the conception of a baby. Once the baby is birthed, or a prototype is finished, it must be protected and nourished to become successful. After executing on an idea and turning it into a product, it is imperative that it is patented. But why?
If the baby has the potential to revolutionize how something is done, everyone would want it. This revolutionary baby must be secured from the opportunist hands of other wannabe entrepreneurs itching for a breakthrough, wanting to kidnap the baby. Patenting the product is like naming the baby and claiming ownership over it. Without a patent, anyone can take the baby. The entrepreneur, as a parent to this baby, has obviously poured his heart and soul into it since its conception. What better way to ensure that his sacrifices were not in vain than to patent his baby. With that being said, there are also other reasons why patenting a newfound invention is so important to the success of a startup.
Ensures That Effort, Consistency, and Execution Are Not in Vain
Spending countless nights without sleep, depriving oneself of meals at regular intervals, maxing out credit cards, and asking for money from friends and parents can be arduous and compromising when first working on an idea (the baby). The baby is still growing in the womb at this point. Nick Woodman, CEO of GoPro, was a fantastic parent figure when it came to nourishing his baby: the first GoPro camera with a wrist strap. Unsurprisingly, he patented his baby once it was born.
Woodman was relentless in his pursuit for success in the startup world. He was at the helm of two failed startups, however, undeterred and with an insatiable desire to leave his mark of success in the startup world, he refused to give up. He was not in a dark corner in his parents’ basement brainstorming new ideas to bring to life when he conceived his revolutionary baby; he was actually surfing in Australia when his baby was conceived.
Woodman realized that surfers could not easily take exciting pictures of themselves riding the waves unless they hired professional photographers. This realization led to the idea of a wrist straps holding disposable cameras, which could be placed on people’s arms. People could be hiking, surfing, skateboarding, practicing almost any sport, while simultaneously taking memorable pictures of themselves enjoying their activity. This was a niche that he knew he had dibs on if he put in the effort to make his idea a reality.
Working 18 hours in one stretch, borrowing about a quarter of a million dollars from his parents, finishing the wrist straps using his mother’s sewing machine, and entering and exiting through a door to a side yard to go “number one” right next to his desk to preserve precious time, Woodman was bent on getting his idea solidified into a prototype. Really bent. He even wore a CamelBak to avoid meandering with his friends en route to the kitchen, which was also far from his desk. Once he finished his prototype wrist strap, it was time to find the camera: a Chinese-made 35-millimeter.
Read More >> https://medium.com/@tmcpro/why-you-need-to-patent-that-idea-for-your-startup-3cdc9dc3e933
