Entrepreneurship Archives

Automed Gets Investment from BlueIron

Automed, Inc., the world’s leader in medication delivery for livestock based in Ames, Iowa, announces a patent financing arrangement with BlueIron of Loveland, Colorado. “We are able to get better patent protection and grow the company at the same time” says David Edwards, CEO of Automed. “Our patent expenses were getting ridiculously high, and we…

Effects of COVID-19 on Patents – Twice The Number of Abandonments

As companies hunker down for the effects of the COVID-19 virus, they are abandoning their IP protection at TWICE the normal rate. And it is likely to go up much further. AND this has never happened before. BlueIron’s study looked at recent USPTO abandonments to see what, if any, effects were from COVID-19. The results…

1% Patent – 99% Execution

Note: this is an excerpt from my book “Startup IP Strategy.” As we all know, business is usually 10% idea and 90% execution. The successful companies rarely have the single best product on the market, but they do have successful execution. Startup companies – and any business with a new product – spend more time…

How Big Law Hurts Startups

Many inventors and entrepreneurs like to tout their relationship with a Big Law Firm. It is too bad they do not know how the sausage gets made. Touting that Big Law wrote your patents is NOT a badge of quality. I review countless patents for startup companies and talk to lots of entrepreneurs. One of…

Cramdowns, Receivership, Bankruptcy – why patent financing is good for founders and angels.

BlueIron’s patent financing puts your IP in a Special Purpose Vehicle (SPV) – an LLC that holds your patents. It can be thought of as a lease with a buyout option – similar to leasing a car. Our contracts have a special provision called a Third Party Beneficiary Agreement. The Third Party Beneficiary Agreement allows…

The Entrepreneur and the Investor – the story of bad IP protection.

An angel investor will ask the entrepreneur “Do you have a patent?” The next thing the entrepreneur does is run out and gets a patent. Is this smart? Note: this excerpt is from my forthcoming book “Startup IP Strategy.” The calculus is simple to the entrepreneur: they think a patent will help to raise money,…

The Patent System is Broken – but not in the way you think it is.

The patent system has some weird quirks that makes it feel broken. In truth, you do not want to know how the sausage gets made at the Patent Office, and patent laws are all weirdly nuanced with few bright lines. That is just the way it is. The real problem is the patent applicants, not…

Patents Help Sell Your Company

When building a patent portfolio with the intent to sell a company, the main audience is not potential infringers, but the acquiring company. Depending on the situation, the acquiring company may have any of several different reasons for the acquisition. For example, the acquiring company may be looking to add an existing product to its product…

So You Have A Patent? Now What?

For many entrepreneurs, life goes on. The nasty secret is that now that they have this new asset, they don’t know what to do with it. They spent a lot of money, time, and energy getting the patent, but struggle with the value of it.

Why Startup Patents Are Doomed From The Start

Patents for small companies are fundamentally different from patents for large companies. The decisions made – and skills needed – to develop the two are very different. There are several problems facing a startup company when getting patents. The biggest problem: the skillset needed for a startup’s patents is not practiced in the conventional law…