WEBVTT

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Okay, now it's on, we're all set.

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And open up my chat.

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Oh, the birthday girl gets here, yeah, we'll have to see.

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Let's see, okay, awesome, awesome.

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All right, wow, what a powerful session.

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Yeah, I mean, jeez, don't really have much to say.

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Yeah, so it's been a wonderful doing this voice with all of you.

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We're gonna jump into a little bit more on the patent side.

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I wanna go through a scenario.

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We never went through a scenario, I just realized that.

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We didn't walk through a scenario with everybody.

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So tomorrow for the bonus, I'll do that with them as well.

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But I'll walk through it with all of you here, just so everybody can see just how much you've

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actually learned.

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Because I know there may be some people here that can't make the bonus tomorrow, or just

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wanna enjoy your weekend, so it's fine too.

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So I'm just gonna open up the scenario first.

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And we're gonna go through a scenario so you can see.

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And I'm not gonna answer these questions, you guys are.

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So let's open this.

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These are the VIPs, they're gonna be just chomping at the bit to get these all right.

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Oh, man, I'll have you guys teaching this part, here we go.

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Let's see.

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All right, so I'm gonna share my screen now.

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Let's make this full size so everybody can see it.

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All righty, share screen, pow, scenario, boom.

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All right, here we go, here we go.

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All right, so you can all unmute yourselves just so you know for this session here.

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This session is just fun, I love doing this part.

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So you can just like blurt out the answers as we go through.

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So what we're looking for is what specific area of intellectual property pertains to

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the specific line.

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So we're gonna take line one by one, and I'll say a sentence at a time for the ones that

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have longer ones.

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And don't be embarrassed if you get it wrong, nobody cares, like this is a learning experience.

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I'm amazed at how much you've learned so far, you guys are incredible.

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And so, yeah, this is just a great time to be able to try and apply it as if this was

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your own scenario, like your own client or your own business.

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So let's start out with the first line.

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So it says, you own a small company called Burger Town.

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What area of intellectual property law?

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Trademark.

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Trademark, boom, exactly, exactly.

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Now it says, you own it.

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So the beauty of it is, you know, since you own it, you have the option.

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You can put it in, since you own the small company, you can have it in your name, or

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you could have it in the company's name, either way, right?

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And we talked about the benefits and the minuses to have it in your own name, which is one

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of the benefits to have it in your own name is what?

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What's a good benefit to having the IP asset in your own name?

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You control it.

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You control it, absolutely.

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You control it.

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That's a big, big, big one.

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You won't lose it.

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What was that?

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You won't lose it.

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Yes, that's right.

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And so, so the big thing is that now that since I own it, I can license it to a party,

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I can assign it to a party, I can take the revenue from the party.

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One of the things that we talk about when we get into the protection portal you'll see

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is licensing.

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So a whole other world, like you can actually have a patent on something and never make

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the product, ever.

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But what you do is you license it to a company who actually makes it, and then you make what

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are called royalties off of every single sale.

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So you can either sell the product straight, you can sell the patent straight out.

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You know, so I've seen patents go from anywhere from five grand to 500 grand.

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I mean, it just depends on the value of the patent, right?

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In the industry.

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So, but once you file the patent, now you have the option.

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You can license it to a third party.

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We talk about that in the protection portal.

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Like how do you license?

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Do you license it at, you know, the same royalty all the time, or do you do what's called a

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step license, which is where the first hundred units, I'm going to make this percentage,

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but the next hundred units are going to make that percentage.

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So you can change your percentage royalty based on the number of sales that are made

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by the other company.

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You can also license your patent.

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in different geographical regions.

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So you could say, you know what?

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I like TJ a lot.

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So for Texas and Florida, TJ, you got my patent, bro.

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You do whatever you gotta do, right?

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And so you're gonna give me a royalty off of that.

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And I like Tracy a lot.

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So for Tracy, for Georgia and North Carolina, that's yours.

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You get to market it over there

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and make all the money you want.

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And I make different percentages based on the individuals.

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But one thing I'm gonna teach you here just real quick,

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and again, we talk more about this in the portal,

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but I just wanna kind of throw this out there for you,

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is that when you're licensing to different parties,

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you wanna kind of keep your royalty rates similar, right?

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So if I'm licensing out to TJ and I say,

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TJ, you're gonna give me 3% of everything that's sold,

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right, and TJ is like, all right, awesome.

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But then I license out to Larissa and I say,

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Larissa, you're gonna give me 12%

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of everything that's sold, right?

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Now, Larissa might say, all right, that's awesome, right?

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Because she's still like, while making 88%,

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that's pretty awesome, right?

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But what happens is if I ever sue somebody

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for infringement of that patent, there's a problem.

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Because one of the things that they look at

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is what's called a reasonable royalty, all right?

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To determine damages for infringement of a patent,

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they look at what's called a reasonable royalty.

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And to determine what a reasonable royalty is,

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they look at your licensing agreements.

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So if I'm licensing to TJ at 3% and Larissa at 12%,

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they're like, well, what's a reasonable royalty?

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You're licensing to different people at different numbers.

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Like, how do I know what the damages should be

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because you're all over the place?

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So you might wanna kind of think about this beforehand,

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before you license somebody your patents.

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Try to have similar terms,

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try to have similar royalty rates if you can,

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because it helps in an assessment later

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if you ever sue somebody.

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Because when they look at what a reasonable royalty is,

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and they look at all the different royalty rates

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for each different party,

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they'll see they're kind of consistent.

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Here's five, here's seven, here's six.

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They're all around the same, they average six.

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Okay, six is a reasonable royalty.

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You see that?

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So it's kind of like, try not to say,

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well, I really like this person and I hate that person.

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So this person's 20%, that person's 1%.

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It can actually affect you.

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If you really hate that person,

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don't license to them, period.

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Like don't mess up your licensing program

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based on personalities.

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And people can do that all the time.

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All right, number two.

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Your number one selling burger is called the Belt Buster.

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Faith Mark.

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Faith Mark.

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Faith Mark.

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Faith Mark.

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Theresa, I see your golden hand, go ahead.

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Well, it's on the first one though.

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Now, if you have it in your own name, okay,

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then you're good.

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But if you go in the company name or ministry name,

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wouldn't you have to go to the board

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for any permissions for anything?

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Yeah, see, that's the issue.

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You just literally nailed what the real issue is.

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It's that if I put it in the name of the ministry

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and the name of the party or the name of the company,

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and the board is the one,

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in the corporate formation documents,

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you said that the board has rights to any of the assets

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and figures out how they're utilized, licensed or anything,

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then you may have lost control.

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Like it's gone.

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And then you know what people do to try to solve this?

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It's like they make it worse.

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This is horrible.

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So what they do is they panic.

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They find out about this, they panic.

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And they go, no, like I can't license to the entity

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because now the board makes all the decisions

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and I lost all control.

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So I'm gonna transfer the rights back to myself.

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You can't do that.

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You can't do that because you're not the one

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making the decisions on behalf of the company.

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But then what they say is,

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well, I'm the president of the company.

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So in the corporate formation documents,

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it says that the president of the company

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has the right to make decisions on behalf of the company.

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So what they do is they assign it

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from themselves to the company.

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Then they learn about this and they say,

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well, I'm the president of the company.

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So I get to make all the decisions on behalf of the company.

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Well, I as a president have decided to assign

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all rights, title and interests back to me.

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Is that really working on the better interest

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of the company?

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Obviously not.

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What you've done is you've worked

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on the better interest of yourself.

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And so what you've done essentially

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is you have violated your role

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as the president of the company.

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So now the members of the board

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can literally challenge you and kick you.

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Nika Smith is, Nika's in, right?

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She's in the board.

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the portal. I mean, she's in the VIP. Okay, good. I just

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admitted her. I just saw that that she popped up. So now all

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of a sudden, you know, you're, you're, you're in trouble,

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because you violated the the corporate formation documents

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and what you're actually supposed to follow for the

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corporation, you violated as the president of the company. So now

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what happens is the president gets fired from the company, and

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they lost their IP assets. That's how it plays out. Don't

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do that. So make absolutely sure that if you're going to sign it

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over to your company, that you're absolutely sure that you

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want to do that. Don't do it. Otherwise, please, Tracy, go

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ahead.

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Um, so this, this, what I'm proposing, would still could

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still be risky, probably. But um, so given what you just said,

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say, say, you know, your board is all your closest friends,

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which is, you know, a nominal factor, really, when things can

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happen, but just say they are and you're all joined in the

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spirit, you know what I mean? Everybody is in one accord and

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passionate and whatever. If you could then as president, give it

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back to you if they all understood why I would assume

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that's the first part could agree. Yeah, all members could

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agree. But the question is, see, here's I have another question.

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Piggyback to that. But go ahead. Yeah, absolutely. Yeah. So the

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big question in this scenario is, is really the following

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it's, is it truly in the better interest of the company? Like,

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sure. Like, is it the is, is it the fact that the individual

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saying no, you know, it'll benefit me and the other

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parties say, yeah, that's true. And we like you. So we're okay

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with transferring it. Oh, no, that's actually I'm not saying

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that's your scenario. What I'm saying is, if that does happen,

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that's actually a violation of the corporate formation.

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Okay, sure. Okay. Yeah. No, I didn't mean it that way,

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thinking that there was agreement that it would be in

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the best interest of the company. But then my next

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question actually probably doesn't apply. Now that I think

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about it, because once that decision is made, I guess that's

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fine in that frame of linear time, so to speak, like you

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later on, somebody can't go back into the history or something

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and say, look, what happened this, this was not right, or

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something, right? Well, they can. I was wondering about that,

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too. Yeah, this is really Yeah, well, you just said, Tracy, and

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this is this is why I love that you're gonna be in the portal

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because you're, you think of all these scenarios. So this, this

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is why this is really important. Okay. The way this plays out is

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two years down the road, you sell the company. Right? The

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people who buy the company, all of a sudden say, hold it. That

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trademark is really important to the company. Why don't we own

248
00:12:58.960 --> 00:13:03.240
it? And then the people say, Well, see, what happened was,

249
00:13:03.520 --> 00:13:08.240
this person, Steve, he assigned it over to the company, but then

250
00:13:08.240 --> 00:13:11.400
the board decided it's okay to transfer it back. And the

251
00:13:11.400 --> 00:13:17.000
company that buys them out says, No, I don't think so. What

252
00:13:17.000 --> 00:13:20.960
exactly happened? And then what happens is the people who buy

253
00:13:20.960 --> 00:13:24.760
the company through a merger or an acquisition, they end up

254
00:13:24.760 --> 00:13:29.920
suing the individual themselves, or they sue basically some

255
00:13:29.920 --> 00:13:32.920
entity that's associated with the transfer that they

256
00:13:32.920 --> 00:13:37.160
purchased, so as to obtain the rights to the trademark again.

257
00:13:37.400 --> 00:13:43.720
So then they say that there was a violation of the the duty as

258
00:13:43.720 --> 00:13:47.360
a as an agent of the company, there was a violation of that

259
00:13:47.360 --> 00:13:51.440
duty in transferring the IP rights back to the individual

260
00:13:51.480 --> 00:13:54.520
like that, they'll say that was not in the better interest of

261
00:13:54.520 --> 00:13:57.520
the company in any way, shape or form to take the number one

262
00:13:57.520 --> 00:13:59.680
asset of the company and transfer it back to an

263
00:13:59.680 --> 00:14:02.400
individual that is not in the best interest of the company.

264
00:14:02.680 --> 00:14:07.000
This is the way litigation works. And so now there's a

265
00:14:07.000 --> 00:14:11.520
lawsuit happening from the acquiring corporation. And now

266
00:14:11.520 --> 00:14:13.440
the individual who is the president of the company has

267
00:14:13.440 --> 00:14:16.680
got to defend themselves. And the company itself, the people

268
00:14:16.680 --> 00:14:21.600
who sold the company to company B, now just got into a lawsuit.

269
00:14:22.200 --> 00:14:25.560
Because this company doesn't want to be a prisoner to the

270
00:14:25.560 --> 00:14:29.880
former president of the company. So that that's the way it plays

271
00:14:29.880 --> 00:14:34.000
out in real life. It's, it's, it's, and this is why I spend

272
00:14:34.000 --> 00:14:37.680
the time training each of you on this, because I don't want any

273
00:14:37.680 --> 00:14:40.680
of you guys going through this, I'd rather you understand this

274
00:14:40.680 --> 00:14:43.240
and you make an affirmative decision, I am not transferring

275
00:14:43.240 --> 00:14:47.080
it to the company, period, not happening. And then you just

276
00:14:47.080 --> 00:14:51.680
give a license at a company if you want to do that, right. But

277
00:14:51.880 --> 00:14:52.200
if you

278
00:14:52.200 --> 00:14:55.600
give a license to the company for them to then license some

279
00:14:55.600 --> 00:14:56.160
things?

280
00:14:56.800 --> 00:14:59.200
Well, you can. So there's different ways to license the

281
00:14:59.200 --> 00:15:00.160
companies, you can

282
00:15:00.000 --> 00:15:02.160
do an exclusive license to another company.

283
00:15:02.160 --> 00:15:03.460
And in that exclusive license,

284
00:15:03.460 --> 00:15:06.720
you can grant the right to provide non-exclusive licenses.

285
00:15:06.720 --> 00:15:09.520
So the way licenses work, and again,

286
00:15:09.520 --> 00:15:12.280
this is an area we talk a lot about in the portal,

287
00:15:12.280 --> 00:15:15.160
is that in licenses, the way it is,

288
00:15:15.160 --> 00:15:18.260
is somebody owns the car, right?

289
00:15:18.260 --> 00:15:20.880
And then somebody says,

290
00:15:20.880 --> 00:15:24.000
all right, I'm gonna give the car to my daughter.

291
00:15:24.000 --> 00:15:27.100
And my daughter says, you know, I'm in college.

292
00:15:27.100 --> 00:15:32.020
I can make a lot of money renting out this car, you know?

293
00:15:32.020 --> 00:15:34.780
So my daughter's an entrepreneur.

294
00:15:34.780 --> 00:15:36.180
She better never do this.

295
00:15:36.180 --> 00:15:38.620
But anyways, she's probably not gonna watch this,

296
00:15:38.620 --> 00:15:39.780
so I don't have to worry about it.

297
00:15:39.780 --> 00:15:44.000
So now all of a sudden she's like, man, that's a nice car.

298
00:15:45.100 --> 00:15:46.100
You know what, guys?

299
00:15:46.940 --> 00:15:51.900
You can rent out this car for $250 a day, right?

300
00:15:51.900 --> 00:15:54.380
So she says $250 a day.

301
00:15:54.380 --> 00:15:56.260
Now all of a sudden she's getting every single day,

302
00:15:56.260 --> 00:15:57.620
money's coming in, money's coming in,

303
00:15:57.620 --> 00:15:58.760
money's coming in, right?

304
00:15:58.760 --> 00:16:00.900
Now she's not the true owner,

305
00:16:00.900 --> 00:16:05.320
but she's making money off of renting my car,

306
00:16:05.320 --> 00:16:08.380
which I let her use, right?

307
00:16:08.380 --> 00:16:11.280
That's a smart entrepreneur right there.

308
00:16:11.280 --> 00:16:12.500
But the way that this is,

309
00:16:12.500 --> 00:16:15.500
the way it is very similar to licensing.

310
00:16:15.500 --> 00:16:19.140
So in licensing, the way it works is I own the patent,

311
00:16:19.140 --> 00:16:21.380
but I can license,

312
00:16:21.380 --> 00:16:25.220
I can give you an exclusive license, Tracy, to my patent.

313
00:16:25.220 --> 00:16:27.640
So now you, as the exclusive licensee,

314
00:16:27.640 --> 00:16:28.980
I may grant you the right

315
00:16:28.980 --> 00:16:31.060
to provide what's called sub licenses.

316
00:16:31.060 --> 00:16:32.980
So now within your company,

317
00:16:32.980 --> 00:16:35.640
you have other parties that wanna use this technology.

318
00:16:35.640 --> 00:16:37.100
So you're saying, all right,

319
00:16:37.100 --> 00:16:39.980
I'm gonna license to you companies A, B, and C,

320
00:16:39.980 --> 00:16:43.700
and I'm gonna get a royalty of 10% from each one of them

321
00:16:43.700 --> 00:16:46.020
for using the technology of the patent.

322
00:16:46.020 --> 00:16:48.980
Now, me on the bottom end of all this,

323
00:16:48.980 --> 00:16:52.660
or I guess on the top of the pyramid scheme, so to speak,

324
00:16:52.660 --> 00:16:56.180
for me, I wanna see some of the revenue of that, right?

325
00:16:56.180 --> 00:16:58.380
So I should have had an agreement,

326
00:16:58.380 --> 00:17:00.860
when my agreement with you giving you exclusive license,

327
00:17:00.860 --> 00:17:03.540
it should have said, if you sub license,

328
00:17:03.540 --> 00:17:05.540
I give you the right to sub license,

329
00:17:05.540 --> 00:17:09.380
and I take X percentage of any sub licenses you provide.

330
00:17:09.380 --> 00:17:12.700
And I also have what's called a right of first refusal,

331
00:17:12.700 --> 00:17:16.060
which is if I don't want you to license to that party,

332
00:17:16.060 --> 00:17:17.579
you can't.

333
00:17:17.579 --> 00:17:19.819
That's another thing that when we go deep

334
00:17:19.819 --> 00:17:20.859
into the portal, you'll see,

335
00:17:21.619 --> 00:17:24.420
there's a right of first refusal, that's what it's called.

336
00:17:24.420 --> 00:17:27.220
Anytime you do a license to another party,

337
00:17:27.220 --> 00:17:30.140
and you're gonna allow them to do a sub license,

338
00:17:30.140 --> 00:17:33.060
make sure you have what's called a right of first refusal.

339
00:17:34.780 --> 00:17:38.220
Really important term to add to every single license,

340
00:17:38.220 --> 00:17:42.220
because that means that anytime they try to sell something,

341
00:17:42.220 --> 00:17:43.700
license it to another party,

342
00:17:43.700 --> 00:17:46.320
they have to make sure that you approve it.

343
00:17:47.740 --> 00:17:49.180
Now, why is this really important?

344
00:17:49.180 --> 00:17:53.380
Let's say your number one arch rival is ABC Corporation,

345
00:17:53.380 --> 00:17:56.860
and I've licensed my technology to Larissa.

346
00:17:56.860 --> 00:17:59.340
Larissa doesn't know that ABC Corporation,

347
00:17:59.340 --> 00:18:03.140
I love Larissa, so I'm like, you take a license,

348
00:18:03.140 --> 00:18:07.140
and you go ahead and you can use this thing,

349
00:18:07.140 --> 00:18:08.660
and I just want 5%.

350
00:18:08.660 --> 00:18:10.780
That's why I say I want 5%, that's it.

351
00:18:10.780 --> 00:18:15.300
Larissa says, wow, I get to keep 95%, that's amazing.

352
00:18:15.300 --> 00:18:16.420
I'm gonna go out there,

353
00:18:16.420 --> 00:18:19.220
and I'm gonna sub license to other parties.

354
00:18:19.220 --> 00:18:21.780
But now my arch rival is ABC Corporation.

355
00:18:21.780 --> 00:18:23.080
Larissa doesn't know that.

356
00:18:24.260 --> 00:18:26.380
She's just doing her own business.

357
00:18:26.380 --> 00:18:29.260
So now all of a sudden, ABC Corporation

358
00:18:29.260 --> 00:18:31.680
finds out that Larissa has a license.

359
00:18:31.680 --> 00:18:32.520
So what do they do?

360
00:18:32.520 --> 00:18:34.100
They know they're not gonna get a license from me,

361
00:18:34.100 --> 00:18:35.100
because they're my arch rival.

362
00:18:35.100 --> 00:18:37.700
So they go and they approach Larissa.

363
00:18:37.700 --> 00:18:40.460
Hey, Larissa, let's go out to dinner.

364
00:18:41.340 --> 00:18:43.420
Hey, why don't we take you out to our resort?

365
00:18:43.420 --> 00:18:45.980
We have a resort over here in Mexico.

366
00:18:46.500 --> 00:18:51.060
We'll put you up at LeBlanc and in Cabo,

367
00:18:51.060 --> 00:18:53.620
and we'll have some business meetings.

368
00:18:53.620 --> 00:18:55.740
After they've wined and dined her,

369
00:18:55.740 --> 00:18:57.900
they say, hey, we're really interested

370
00:18:57.900 --> 00:18:59.540
in this license over here.

371
00:18:59.540 --> 00:19:00.780
Can we get a sub license to you?

372
00:19:00.780 --> 00:19:02.180
Larissa's like, this is great.

373
00:19:02.180 --> 00:19:05.620
The sushi was good, everything was awesome,

374
00:19:05.620 --> 00:19:07.940
service was great, absolutely.

375
00:19:07.940 --> 00:19:09.100
Take a sub license.

376
00:19:09.100 --> 00:19:13.340
She just licensed to my arch rival without even knowing it,

377
00:19:13.340 --> 00:19:14.860
and I can't do anything about it

378
00:19:14.860 --> 00:19:18.860
unless I have a right of first refusal.

379
00:19:18.860 --> 00:19:20.500
With a right of first refusal,

380
00:19:20.500 --> 00:19:22.780
Larissa now has to call me up.

381
00:19:22.780 --> 00:19:25.580
Hey, Peter, yeah, I'm working on my tan over here,

382
00:19:25.580 --> 00:19:27.880
getting a massage and hanging out in the hot tub.

383
00:19:27.880 --> 00:19:28.900
Life is good.

384
00:19:28.900 --> 00:19:31.860
I'm about to get a sub license to ABC Corporation.

385
00:19:31.860 --> 00:19:32.980
What?

386
00:19:32.980 --> 00:19:34.780
I hate ABC Corporation.

387
00:19:34.780 --> 00:19:36.100
They ripped off this person.

388
00:19:36.100 --> 00:19:37.180
They stole this employee.

389
00:19:37.180 --> 00:19:38.860
They did this bad, that bad.

390
00:19:38.860 --> 00:19:39.860
No.

391
00:19:39.860 --> 00:19:43.820
Larissa's like, oh, I guess I'll wait till the week's over.

392
00:19:43.820 --> 00:19:46.940
Then I'll tell them that we're not licensing.

393
00:19:46.940 --> 00:19:49.260
So that's how it plays out in real life.

394
00:19:49.260 --> 00:19:53.020
So make sure you use a right of first refusal.

395
00:19:53.020 --> 00:19:58.260
Peter, what if I own Burger Town as an LLC?

396
00:19:58.260 --> 00:20:00.580
Does that change anything?

397
00:20:00.000 --> 00:20:08.000
If you own Burger Town as an LLC, you're asking, does it, does it change in the licensing situation?

398
00:20:08.000 --> 00:20:13.000
Um, no. Does it change in, uh, yeah, yeah.

399
00:20:13.000 --> 00:20:14.000
In the scenario, you mean?

400
00:20:14.000 --> 00:20:16.000
Yeah, in the scenario.

401
00:20:16.000 --> 00:20:21.000
Okay, so let's, let's go through that. Let's go back to the scenario over here. Let me move this over.

402
00:20:21.000 --> 00:20:27.000
Sorry for that aside, but that, that thing is going to save some of your corporations, what I just told you.

403
00:20:28.000 --> 00:20:33.000
That one statement will save you from the competition, just that one line.

404
00:20:33.000 --> 00:20:36.000
Um, so don't forget it. All right, write it down somewhere. All right.

405
00:20:36.000 --> 00:20:40.000
So look, look at a number two, your number one selling burger is the belt buster.

406
00:20:40.000 --> 00:20:43.000
We talked about that being trademark number one was you own a small company.

407
00:20:43.000 --> 00:20:44.000
So that's the case.

408
00:20:44.000 --> 00:20:49.000
Like what we're referring to, Karen is in scenario number one, you own the small company.

409
00:20:49.000 --> 00:20:51.000
It's your company.

410
00:20:51.000 --> 00:20:58.000
So if it's like a sole proprietorship, the question is, do you care if you assign our right title and interest to the company?

411
00:20:58.000 --> 00:21:03.000
If it's your company, like you're a sole proprietorship, who cares? Right.

412
00:21:03.000 --> 00:21:07.000
I mean, that's basically the question is, you know, well, it's mine.

413
00:21:07.000 --> 00:21:09.000
I'm the only one who makes the decisions anyway.

414
00:21:09.000 --> 00:21:13.000
So what's so wrong about that?

415
00:21:13.000 --> 00:21:19.000
You know, I, I mean, if I, if I assign it to the corporation, I don't really lose any rights.

416
00:21:20.000 --> 00:21:22.000
Really, I guess it really comes down to down the road.

417
00:21:22.000 --> 00:21:27.000
What's going to happen? Like, what's your, what's your strategic plan as a corporation?

418
00:21:27.000 --> 00:21:39.000
A lot of startups, their strategic plan is to sell or to get another party to, to merge with them or acquire them or buy them out overall within three to five years.

419
00:21:39.000 --> 00:21:42.000
That's what most entrepreneurs are trying to do.

420
00:21:42.000 --> 00:21:48.000
You know, serial entrepreneurs, not people that are building things for their family or like a long term business.

421
00:21:48.000 --> 00:21:51.000
Serial entrepreneurs want out three to five years.

422
00:21:51.000 --> 00:21:55.000
They do not want to be in that thing after five years because they're losing.

423
00:21:55.000 --> 00:21:58.000
They feel like they're losing money if they continue.

424
00:21:58.000 --> 00:22:02.000
So there's this. I'll add this for all of you to understand.

425
00:22:02.000 --> 00:22:04.000
There's different levels of investors.

426
00:22:04.000 --> 00:22:08.000
There are what are called angels. Then there's what are called VCs.

427
00:22:08.000 --> 00:22:17.000
Right. So angel investors typically will invest anywhere up to like a million, maybe a million five, you know, into a company.

428
00:22:17.000 --> 00:22:22.000
Then there's VCs. VCs don't usually get involved until you're like over the million area.

429
00:22:22.000 --> 00:22:25.000
Those are called venture venture capitalists.

430
00:22:25.000 --> 00:22:29.000
Those guys, they don't jump in until you're like high money.

431
00:22:29.000 --> 00:22:32.000
They're not paying. They're not jumping in for 200,000.

432
00:22:32.000 --> 00:22:37.000
They don't care about you. You're not you're not even on their radar at 200,000.

433
00:22:37.000 --> 00:22:42.000
Like if you're trying to get a loan, there's another thing we talk about in the portal.

434
00:22:42.000 --> 00:22:46.000
If you're trying to get a loan, there's like small business loans.

435
00:22:46.000 --> 00:22:49.000
There's all sorts of other things that are available for finances.

436
00:22:49.000 --> 00:22:53.000
But a VC is not going to talk to you. Not going to happen.

437
00:22:53.000 --> 00:22:58.000
Now, there's a cost associated with money that you borrow.

438
00:22:58.000 --> 00:23:06.000
That cost is either percentages that you have to pay back or percentages of your company that they own.

439
00:23:06.000 --> 00:23:09.000
So as you're growing in your company, be careful.

440
00:23:09.000 --> 00:23:13.000
Don't start getting what I call expensive money to back you up.

441
00:23:13.000 --> 00:23:21.000
Expensive money is where, you know, I'm giving them not only a royalty, but I'm giving them a part of my company.

442
00:23:21.000 --> 00:23:24.000
Like I've got to give you 25 percent of my company.

443
00:23:24.000 --> 00:23:31.000
Plus, I'm paying 10 percent interest on the hundred thousand dollars that you give me for me to run.

444
00:23:31.000 --> 00:23:36.000
That's expensive money that you just purchased.

445
00:23:36.000 --> 00:23:43.000
I would much rather be dealing with cheap money, you know, like a loan, SBA loan or something else like that,

446
00:23:43.000 --> 00:23:48.000
where I can pay it back over time, but somebody is not taking percentages of my company.

447
00:23:48.000 --> 00:23:58.000
Because as your company grows, the way for you to get other people to buy you out or other people to invest in you is they want to make sure you own the major shares.

448
00:23:58.000 --> 00:24:03.000
They don't they don't want to buy into something where 80 percent is owned by somebody else that it doesn't work.

449
00:24:03.000 --> 00:24:06.000
So I'll stop there. I'm getting I'm getting too deep. I'll stop right there.

450
00:24:06.000 --> 00:24:10.000
But just remember, there's expensive money and cheap money.

451
00:24:10.000 --> 00:24:14.000
Expensive money is where somebody takes a portion of your company.

452
00:24:14.000 --> 00:24:25.000
That's expensive money. Because if your company grows, 10 percent of a, you know, 10 percent of a company worth one hundred thousand dollars is ten thousand dollars.

453
00:24:25.000 --> 00:24:31.000
Ten percent of a company that's worth a million dollars is one hundred thousand dollars.

454
00:24:31.000 --> 00:24:35.000
Ten percent of a company that's worth one hundred million dollars. You getting it?

455
00:24:35.000 --> 00:24:40.000
It's ten million dollars. Like, but that's the same deal that you ran.

456
00:24:40.000 --> 00:24:43.000
It's just that your own time and efforts made that company grow.

457
00:24:43.000 --> 00:24:50.000
So that person who invested ten thousand dollars into you just made ten million because of your work.

458
00:24:50.000 --> 00:24:52.000
That's expensive money.

459
00:24:52.000 --> 00:24:56.000
So make sure you know who all the terms associated with any money that you borrow.

460
00:24:56.000 --> 00:25:00.000
All right. Let's go to number three. Number three says you have.

461
00:25:00.000 --> 00:25:02.880
of a website advertising the company,

462
00:25:02.880 --> 00:25:07.880
providing a menu, describing ingredients,

463
00:25:07.880 --> 00:25:10.960
preparation techniques, and health information

464
00:25:10.960 --> 00:25:13.460
regarding each item on the menu.

465
00:25:13.460 --> 00:25:14.840
This is more complicated.

466
00:25:16.480 --> 00:25:18.160
At least copyright.

467
00:25:18.160 --> 00:25:20.880
Copyright, Axel, come on, bro.

468
00:25:20.880 --> 00:25:23.320
Well done, well done.

469
00:25:23.320 --> 00:25:25.080
Anything else jump out at you guys?

470
00:25:26.200 --> 00:25:27.120
Trade secret.

471
00:25:28.040 --> 00:25:31.640
Trade secret, ooh, who said that?

472
00:25:31.640 --> 00:25:32.560
Karen.

473
00:25:32.560 --> 00:25:35.880
Karen, that was good, yes, absolutely.

474
00:25:35.880 --> 00:25:38.560
Potentially there could be trade secrets there

475
00:25:38.560 --> 00:25:40.880
under preparation techniques.

476
00:25:40.880 --> 00:25:42.400
Could be trade secrets.

477
00:25:42.400 --> 00:25:43.600
Yes.

478
00:25:43.600 --> 00:25:45.560
Also can be patents.

479
00:25:45.560 --> 00:25:46.560
Patents, yeah.

480
00:25:46.560 --> 00:25:47.640
Patents, there it is.

481
00:25:47.640 --> 00:25:49.400
I was waiting for you, Samuel.

482
00:25:49.400 --> 00:25:50.840
Yeah, I knew it was coming.

483
00:25:50.840 --> 00:25:53.280
Yeah, that's so good.

484
00:25:53.280 --> 00:25:54.120
You've got-

485
00:25:54.120 --> 00:25:56.320
And then also, oh, sorry, sorry, go ahead.

486
00:25:56.320 --> 00:25:59.640
No, you've got the potential there for patents.

487
00:25:59.640 --> 00:26:01.120
Absolutely.

488
00:26:01.120 --> 00:26:03.600
What were you gonna say, Brittany?

489
00:26:03.600 --> 00:26:08.600
TMs, TM for, what is it, TM for logos on the website,

490
00:26:09.720 --> 00:26:13.520
on the menu, on whatever, wherever it is.

491
00:26:13.520 --> 00:26:15.120
Absolutely, logos.

492
00:26:15.120 --> 00:26:16.640
Your copyright notice on-

493
00:26:16.640 --> 00:26:18.880
Words probably too, right?

494
00:26:18.880 --> 00:26:19.840
What was that?

495
00:26:19.840 --> 00:26:22.920
Words probably also, is that correct?

496
00:26:22.920 --> 00:26:26.280
Yeah, I mean, if there's a slogan,

497
00:26:27.120 --> 00:26:29.840
trademark could definitely step into there.

498
00:26:29.840 --> 00:26:31.080
On your menu itself,

499
00:26:31.080 --> 00:26:34.160
you've got the potential for copyright, like we mentioned.

500
00:26:34.160 --> 00:26:36.800
There's a whole mess of things that you can look at.

501
00:26:36.800 --> 00:26:38.480
But you notice how all of you now

502
00:26:38.480 --> 00:26:40.520
are able to spot all those things?

503
00:26:40.520 --> 00:26:42.200
You're like, oh, there's some copyright issues.

504
00:26:42.200 --> 00:26:43.200
There's some trademark issues.

505
00:26:43.200 --> 00:26:44.920
So well done.

506
00:26:44.920 --> 00:26:47.720
I celebrate you guys because in the beginning,

507
00:26:47.720 --> 00:26:49.880
you probably just were thinking,

508
00:26:49.880 --> 00:26:52.840
well, maybe there's something there that I can protect,

509
00:26:52.840 --> 00:26:55.440
but now you see all these things, right?

510
00:26:55.440 --> 00:26:59.720
So now we're going to take the long, the long one,

511
00:26:59.720 --> 00:27:01.920
the long paragraph, paragraph number four.

512
00:27:01.920 --> 00:27:03.000
All right.

513
00:27:03.000 --> 00:27:05.840
You have a new process.

514
00:27:05.840 --> 00:27:06.680
Patent.

515
00:27:08.040 --> 00:27:08.960
Patent, yeah.

516
00:27:10.280 --> 00:27:12.320
That's great.

517
00:27:12.320 --> 00:27:14.480
I love that, I love that.

518
00:27:14.480 --> 00:27:16.200
I didn't even finish.

519
00:27:16.200 --> 00:27:17.560
You have a new patent.

520
00:27:17.560 --> 00:27:18.720
Yep, got it.

521
00:27:18.720 --> 00:27:19.560
That's exactly right.

522
00:27:19.560 --> 00:27:20.960
That's what I was on.

523
00:27:20.960 --> 00:27:22.240
I love it, I love it.

524
00:27:22.240 --> 00:27:24.080
That's exactly right.

525
00:27:24.080 --> 00:27:26.240
Let me just double check something here.

526
00:27:26.240 --> 00:27:27.120
Yeah, okay.

527
00:27:27.120 --> 00:27:29.680
So you have a new process, absolutely patent,

528
00:27:29.680 --> 00:27:32.040
for keeping inventory of burgers prepared

529
00:27:32.040 --> 00:27:34.200
and for determining loss of profits

530
00:27:34.200 --> 00:27:37.800
by using a novel, novel means new, right?

531
00:27:37.800 --> 00:27:39.920
Patent, pressure sensitive device

532
00:27:39.920 --> 00:27:43.160
located within a grill used for preparing burgers.

533
00:27:43.160 --> 00:27:44.000
All right.

534
00:27:44.000 --> 00:27:45.000
Check this out.

535
00:27:45.000 --> 00:27:49.760
This is actually a pretty cool written paragraph here.

536
00:27:51.320 --> 00:27:53.120
Tell me how many patents

537
00:27:53.960 --> 00:27:56.160
can come out of this one paragraph, right?

538
00:27:56.160 --> 00:27:57.760
So we just covered the first part.

539
00:27:57.760 --> 00:28:00.640
You have a new process for keeping inventory

540
00:28:00.640 --> 00:28:03.440
of burgers prepared and for determining loss of profits

541
00:28:03.440 --> 00:28:06.320
by using a novel pressure sensitive device

542
00:28:06.320 --> 00:28:09.200
located within a grill used for preparing burgers.

543
00:28:09.200 --> 00:28:11.080
The next sentence says,

544
00:28:11.080 --> 00:28:14.040
the burger is placed on an indented surface

545
00:28:14.040 --> 00:28:16.080
of the grill during cooking.

546
00:28:17.000 --> 00:28:18.560
Next sentence says,

547
00:28:18.560 --> 00:28:22.560
the indented surface has a pressure sensitive switch

548
00:28:22.560 --> 00:28:25.640
that is thrown when the weight of a burger is detected.

549
00:28:26.800 --> 00:28:28.000
Next sentence says,

550
00:28:28.000 --> 00:28:33.000
software within a computer is capable of comparing

551
00:28:33.920 --> 00:28:38.520
the number of detected burgers to actual sale of burgers

552
00:28:38.520 --> 00:28:41.400
to determine how many cooked burgers were never sold,

553
00:28:41.400 --> 00:28:43.920
burn, drop, free replacements,

554
00:28:43.920 --> 00:28:45.200
claimed as a working benefit

555
00:28:45.200 --> 00:28:47.000
of a disgruntled employee named Peter.

556
00:28:47.000 --> 00:28:47.840
All right.

557
00:28:47.840 --> 00:28:49.760
So yeah, out of all of those,

558
00:28:49.760 --> 00:28:51.760
how many patents do you see there?

559
00:28:51.760 --> 00:28:52.600
Five.

560
00:28:54.160 --> 00:28:55.400
Who said five?

561
00:28:55.400 --> 00:28:56.240
Karen.

562
00:28:57.640 --> 00:28:58.480
Karen.

563
00:28:58.480 --> 00:28:59.880
Who said five?

564
00:28:59.880 --> 00:29:00.760
Karen.

565
00:29:00.760 --> 00:29:01.600
Karen.

566
00:29:01.600 --> 00:29:03.040
All right, let's go with you first.

567
00:29:03.040 --> 00:29:04.120
Let's walk through them.

568
00:29:04.120 --> 00:29:06.840
Let's just see what we got.

569
00:29:06.840 --> 00:29:08.440
Can you pull the paragraph down?

570
00:29:08.440 --> 00:29:10.160
Absolutely.

571
00:29:10.160 --> 00:29:11.440
All right, let's start here.

572
00:29:11.440 --> 00:29:12.280
All right.

573
00:29:12.280 --> 00:29:14.320
So your new process is a patent.

574
00:29:15.480 --> 00:29:20.480
Your novel pressure sensitive device is a patent.

575
00:29:21.360 --> 00:29:25.920
Your indented surface is a patent

576
00:29:25.920 --> 00:29:30.920
and your pressure sensitive switch is a patent

577
00:29:31.600 --> 00:29:34.240
and your software is a patent.

578
00:29:35.600 --> 00:29:37.080
That's possible.

579
00:29:37.080 --> 00:29:38.160
Absolutely possible.

580
00:29:38.160 --> 00:29:40.240
Everyone that you just mentioned is absolutely.

581
00:29:40.240 --> 00:29:41.560
Helene, you're here.

582
00:29:42.880 --> 00:29:44.800
Happy birthday to you.

583
00:29:44.840 --> 00:29:46.680
Happy birthday to you.

584
00:29:48.320 --> 00:29:50.160
Happy birthday to you.

585
00:29:53.720 --> 00:29:56.240
Happy birthday to you, Helene.

586
00:30:00.000 --> 00:30:05.920
Happy birthday to you.

587
00:30:05.920 --> 00:30:08.120
Congratulations, you're 29.

588
00:30:08.120 --> 00:30:09.080
Well done.

589
00:30:09.080 --> 00:30:10.760
Right.

590
00:30:10.760 --> 00:30:11.560
That's awesome.

591
00:30:11.560 --> 00:30:12.600
I'm glad you showed up.

592
00:30:12.600 --> 00:30:13.440
Thank you.

593
00:30:13.440 --> 00:30:14.360
Happy birthday.

594
00:30:14.360 --> 00:30:20.680
I would think there'd be one patent for the novel grill

595
00:30:20.680 --> 00:30:24.920
with the whole thimples and the switch.

596
00:30:24.920 --> 00:30:27.000
That's one device.

597
00:30:27.000 --> 00:30:29.200
There's a lot of ways you can break this down.

598
00:30:29.200 --> 00:30:30.760
Let me break this down for everybody.

599
00:30:30.760 --> 00:30:33.120
So as a patent attorney, this is what I would look at.

600
00:30:33.120 --> 00:30:37.520
So I could file one patent with everything,

601
00:30:37.520 --> 00:30:40.240
which would be a monstrous conglomeration of everything.

602
00:30:40.240 --> 00:30:43.040
But if I do that, the problem with that

603
00:30:43.040 --> 00:30:46.680
is that I'm going to have to have multiple claim sets.

604
00:30:46.680 --> 00:30:50.200
So one on the software, just like was just stated.

605
00:30:50.200 --> 00:30:52.400
I have to have one on the software, one that's

606
00:30:52.400 --> 00:30:53.800
talking about the indented surface.

607
00:30:53.800 --> 00:30:55.840
If it's a new type of sensitive switch,

608
00:30:55.840 --> 00:30:57.120
I could have one on that.

609
00:30:57.120 --> 00:31:01.080
I could have one on the process itself.

610
00:31:01.080 --> 00:31:03.480
I mean, there's multiple claim sets

611
00:31:03.480 --> 00:31:04.920
that I would have to have.

612
00:31:04.920 --> 00:31:09.640
And the reason why you may want to file different patents

613
00:31:09.640 --> 00:31:12.760
is because if you have different patents,

614
00:31:12.760 --> 00:31:15.400
you can license them to different people.

615
00:31:15.400 --> 00:31:16.280
See?

616
00:31:16.280 --> 00:31:20.080
The person who's interested in your pressure sensitive switch

617
00:31:20.080 --> 00:31:22.360
may want to use that pressure sensitive switch

618
00:31:22.360 --> 00:31:23.960
for something else.

619
00:31:24.000 --> 00:31:27.080
They might not want to use it for making burgers.

620
00:31:27.080 --> 00:31:29.880
They may want to use it for the bottom of a tea kettle

621
00:31:29.880 --> 00:31:32.800
so that if the tea kettle tips, the thing automatically

622
00:31:32.800 --> 00:31:34.400
turns off.

623
00:31:34.400 --> 00:31:34.880
You see?

624
00:31:34.880 --> 00:31:38.440
Because not only is the pressure sensitive switch

625
00:31:38.440 --> 00:31:40.480
feels the pressure of the burger,

626
00:31:40.480 --> 00:31:43.040
well, what if you just made the condition of the pressure

627
00:31:43.040 --> 00:31:47.720
sensitive switch that the thing is off, is actually on,

628
00:31:47.720 --> 00:31:49.960
unless there's no pressure?

629
00:31:49.960 --> 00:31:52.960
So now you can use it as the bottom of a tea kettle.

630
00:31:52.960 --> 00:31:55.320
So it's capable of being turned on.

631
00:31:55.320 --> 00:31:57.680
But once it falls over, you can't turn it on.

632
00:31:57.680 --> 00:32:01.520
So now you can stop their fires and all sorts of issues

633
00:32:01.520 --> 00:32:02.920
just by having that.

634
00:32:02.920 --> 00:32:06.400
And actually, there is a device called the tilt switch.

635
00:32:06.400 --> 00:32:08.840
My client actually creates tilt switches.

636
00:32:08.840 --> 00:32:10.000
That's one of their products.

637
00:32:10.000 --> 00:32:13.480
And they're in practically every device that's out there.

638
00:32:13.480 --> 00:32:14.560
They're even in cell phones.

639
00:32:14.560 --> 00:32:15.440
They're everywhere.

640
00:32:15.440 --> 00:32:17.440
Tilt switches, right?

641
00:32:17.440 --> 00:32:21.280
So the beauty of having different patents

642
00:32:21.320 --> 00:32:24.080
is that you can license them to different parties.

643
00:32:24.080 --> 00:32:27.160
You don't have to license the tilt switch technology

644
00:32:27.160 --> 00:32:30.200
to McDonald's.

645
00:32:30.200 --> 00:32:32.160
You can license the tilt switch technology

646
00:32:32.160 --> 00:32:36.480
to somebody who makes tea kettles, right?

647
00:32:36.480 --> 00:32:39.560
But if you put it all in the same patent,

648
00:32:39.560 --> 00:32:41.320
then it's all focused on burgers.

649
00:32:41.320 --> 00:32:44.360
And you have only one claim set.

650
00:32:44.360 --> 00:32:46.360
It becomes more difficult to license out

651
00:32:46.360 --> 00:32:50.440
this burger-focused thing to Raytheon

652
00:32:50.440 --> 00:32:53.640
for creating some kind of tilt switch

653
00:32:53.640 --> 00:32:56.000
that can be used in a rocket.

654
00:32:56.000 --> 00:32:59.360
OK, so it's now there's a disadvantage

655
00:32:59.360 --> 00:33:03.560
to having many patents because they're expensive.

656
00:33:03.560 --> 00:33:05.800
They're very expensive.

657
00:33:05.800 --> 00:33:08.400
The beauty of patents is that you automatically

658
00:33:08.400 --> 00:33:09.600
get 20 claims.

659
00:33:09.600 --> 00:33:12.320
You get multiple independent claims, dependent claims.

660
00:33:12.320 --> 00:33:14.160
We talk about this in the protection portal.

661
00:33:14.160 --> 00:33:15.560
So you'll learn more there.

662
00:33:15.600 --> 00:33:18.520
I don't want to kind of overwhelm you on the last day.

663
00:33:18.520 --> 00:33:21.800
But the point is that you want to have it

664
00:33:21.800 --> 00:33:24.880
so that whatever the invention is,

665
00:33:24.880 --> 00:33:27.640
if you think you're going to license that to a certain party,

666
00:33:27.640 --> 00:33:29.960
you want that patent standing alone.

667
00:33:29.960 --> 00:33:32.000
So you can license it to that first party.

668
00:33:32.000 --> 00:33:34.360
And if there's a different aspect of the invention

669
00:33:34.360 --> 00:33:36.560
that could potentially be licensed to another party,

670
00:33:36.560 --> 00:33:37.760
file another patent.

671
00:33:37.760 --> 00:33:39.720
It'll just allow you to make more money.

672
00:33:39.720 --> 00:33:42.960
Just license to all sorts of people, OK?

673
00:33:42.960 --> 00:33:44.960
All right, let's go to the last one.

674
00:33:44.960 --> 00:33:45.880
That was really good.

675
00:33:45.880 --> 00:33:47.840
You guys are doing a great job.

676
00:33:47.840 --> 00:33:50.000
All right, the last one here.

677
00:33:50.000 --> 00:33:52.280
This is the last one.

678
00:33:52.280 --> 00:33:56.520
You also sell a new drink called HungerAid.

679
00:33:56.520 --> 00:33:57.720
Everyone.

680
00:33:57.720 --> 00:33:58.320
Patent.

681
00:33:58.320 --> 00:33:59.200
Trademark.

682
00:33:59.200 --> 00:34:01.120
Trademarks, right.

683
00:34:01.120 --> 00:34:06.000
That everyone loves and no one knows how to replicate.

684
00:34:06.000 --> 00:34:06.960
Trade secret.

685
00:34:06.960 --> 00:34:07.920
Trade secret.

686
00:34:07.920 --> 00:34:08.840
Trade secret.

687
00:34:08.840 --> 00:34:10.719
And somebody also said patent.

688
00:34:10.719 --> 00:34:11.560
It's actually true.

689
00:34:11.560 --> 00:34:13.760
You can actually do patents.

690
00:34:14.760 --> 00:34:16.760
And that's actually a correct answer.

691
00:34:16.760 --> 00:34:22.679
But if you do the patent, then within 20 years of filing,

692
00:34:22.679 --> 00:34:24.320
everybody else will be able to do it.

693
00:34:24.320 --> 00:34:25.719
And you can't stop them.

694
00:34:25.719 --> 00:34:29.679
So if Coca-Cola filed a patent, then all of us

695
00:34:29.679 --> 00:34:31.760
would be able to create Coca-Cola.

696
00:34:31.760 --> 00:34:36.199
And Coca-Cola couldn't stop us, OK?

697
00:34:36.199 --> 00:34:40.560
This is why you have other companies out there like Pepsi.

698
00:34:40.560 --> 00:34:42.159
Why is it that Pepsi didn't come up

699
00:34:42.159 --> 00:34:45.400
with the exact same taste as Coca-Cola?

700
00:34:45.400 --> 00:34:46.600
Because they couldn't.

701
00:34:46.600 --> 00:34:49.000
If they did, they would have committed potentially

702
00:34:49.000 --> 00:34:50.719
trade secret infringement.

703
00:34:50.719 --> 00:34:52.600
Or there would have been some kind of lawsuit

704
00:34:52.600 --> 00:34:55.560
for copying the formula of another party.

705
00:34:55.560 --> 00:34:58.640
Peter, why don't pharmaceutical companies

706
00:34:58.640 --> 00:35:00.000
do trade secrets then?

707
00:35:00.000 --> 00:35:04.920
Um, the reason why pharmaceutical companies generally don't do trade

708
00:35:04.920 --> 00:35:10.080
secrets really is because you can break down the composition of pills pretty

709
00:35:10.080 --> 00:35:14.600
easily. The technology is so advanced these days. I mean, quite frankly,

710
00:35:14.600 --> 00:35:18.540
you can figure out how to make Coca-Cola. It's not that difficult anymore.

711
00:35:18.560 --> 00:35:20.520
Like way back in the day, it was difficult,

712
00:35:20.520 --> 00:35:23.760
but these days the technology is so advanced.

713
00:35:23.760 --> 00:35:25.280
You can get all the different,

714
00:35:25.920 --> 00:35:28.160
all the different parts that are associated with it.

715
00:35:28.200 --> 00:35:29.120
You can figure it out.

716
00:35:29.320 --> 00:35:33.400
The tricky part with pharmaceuticals is not the components cause you can figure

717
00:35:33.400 --> 00:35:37.760
out the components. The tricky part is the method of creating it. Right.

718
00:35:37.960 --> 00:35:41.520
Because there may be like a portion of like,

719
00:35:42.560 --> 00:35:43.920
like, like maybe,

720
00:35:44.240 --> 00:35:47.680
maybe these two chemicals were combined with in,

721
00:35:47.680 --> 00:35:50.480
in a gaseous state of Argonne, you know,

722
00:35:50.480 --> 00:35:54.600
for exactly five minutes before introducing such and such.

723
00:35:54.840 --> 00:35:59.120
So getting that timing sequence is kind of hard, right?

724
00:35:59.560 --> 00:36:04.120
But pharmaceutical companies would much rather have the patent where they can

725
00:36:04.120 --> 00:36:08.480
stop anybody from ever competing with them for at least 20 years from

726
00:36:08.480 --> 00:36:09.320
filing,

727
00:36:10.040 --> 00:36:14.360
then have a situation where somebody's brilliant, you know,

728
00:36:14.400 --> 00:36:18.760
does a decomposition and then does testing, testing, testing, testing, got it.

729
00:36:19.160 --> 00:36:21.960
Then they go and they get FDA approval. And now they're competing.

730
00:36:22.560 --> 00:36:25.000
The big issue with pharmaceutical companies, honestly,

731
00:36:25.000 --> 00:36:29.480
is pharmaceutical companies spend a lot of time in

732
00:36:29.480 --> 00:36:34.040
testing. I'm not, I'm not a, a big fan of pharma.

733
00:36:34.400 --> 00:36:37.120
You know, I'm not, I'm not trying to, you know, sing their praise.

734
00:36:37.120 --> 00:36:39.840
I'm just telling you what they, the hardship that they deal with.

735
00:36:41.440 --> 00:36:44.200
I think there's good pharmaceutical companies and there's bad pharmaceutical

736
00:36:44.200 --> 00:36:48.200
companies. It just, it's part of every business. There's always good and bad.

737
00:36:48.200 --> 00:36:52.200
Right. So in the pharmaceutical industry,

738
00:36:52.520 --> 00:36:55.440
it takes a lot of testing to actually come up with something that's going to

739
00:36:55.440 --> 00:36:56.280
work.

740
00:36:57.080 --> 00:37:00.520
So you might have like five different things that you're going after.

741
00:37:00.560 --> 00:37:05.400
One of them hits, but you spend so much time on testing,

742
00:37:05.640 --> 00:37:07.800
going through mice, going through monkeys,

743
00:37:07.800 --> 00:37:12.160
going through all these things that they do to then come to humans and do like

744
00:37:12.160 --> 00:37:17.160
trials. I know it's, it's pretty bad, but then they go through human trials and

745
00:37:17.200 --> 00:37:19.960
they, you know, people that are in a desperate state are like, I'll,

746
00:37:20.000 --> 00:37:23.880
I'll be in the trial. I don't care because they, they, they need help.

747
00:37:24.480 --> 00:37:25.960
So now they're going through that.

748
00:37:25.960 --> 00:37:29.320
And then they finally get FDA approval after like 14 years.

749
00:37:30.520 --> 00:37:33.640
So that means they only got six years left on their patent.

750
00:37:35.160 --> 00:37:39.320
And now they have to make up the millions of dollars that they've spent in the

751
00:37:39.320 --> 00:37:43.800
creation and the testing and the trial, the trials with the FDA, blah, blah,

752
00:37:43.800 --> 00:37:45.080
blah, blah, blah, blah, blah, blah, blah, blah,

753
00:37:45.120 --> 00:37:48.680
to finally get that pill on the market and say nobody else.

754
00:37:48.720 --> 00:37:50.880
And that's why you get a pill for 500 bucks.

755
00:37:52.240 --> 00:37:54.320
It compensates for R and D basically.

756
00:37:54.560 --> 00:37:57.920
Oh, absolutely. Yeah. And it's even more than R and D.

757
00:37:57.920 --> 00:38:01.360
It's like the testing, the approvals through FDA. I mean,

758
00:38:01.360 --> 00:38:05.920
it's so many levels that pharma has to go through the fact that

759
00:38:07.040 --> 00:38:10.040
I don't know where everybody's opinion is on COVID, right. Uh,

760
00:38:10.080 --> 00:38:13.760
there's people that are, yeah, it existed. No, it didn't exist. Yes.

761
00:38:13.760 --> 00:38:17.440
This works. Yeah. No, that doesn't work. I'm not going to dispute that here,

762
00:38:17.480 --> 00:38:22.480
but what I will say is the fact that a pharmaceutical product came or that

763
00:38:22.480 --> 00:38:25.520
a, that a, a vaccine, quote unquote,

764
00:38:26.320 --> 00:38:29.280
got approved by the FDA within eight months,

765
00:38:31.480 --> 00:38:35.600
unheard of, unheard of. I mean, I'm not,

766
00:38:35.600 --> 00:38:37.800
I'm not digging into whether or not it works, doesn't work,

767
00:38:37.800 --> 00:38:40.200
whether you do it, don't do it, whether it's spiritual or not.

768
00:38:40.200 --> 00:38:41.280
I'm not talking about that.

769
00:38:41.600 --> 00:38:46.200
I'm just saying for a company to come out with a vaccine and for it to get

770
00:38:46.200 --> 00:38:50.360
approved within eight months does not happen. Show me another example.

771
00:38:51.480 --> 00:38:55.960
Does not happen. So that, that was an exception to the rule.

772
00:38:56.000 --> 00:38:58.000
That is not the way pharmaceuticals work.

773
00:38:58.320 --> 00:39:00.960
That is not the way vaccines usually work.

774
00:39:01.320 --> 00:39:06.320
Usually it takes 12, 13, 14 years to get FDA approval.

775
00:39:07.320 --> 00:39:12.320
So that's why pharma charges so much for a single dose and why,

776
00:39:13.560 --> 00:39:17.000
you know, it can literally take you, um,

777
00:39:17.400 --> 00:39:20.000
what you'll see is the day that the patent expires,

778
00:39:20.040 --> 00:39:24.400
you will find two dozen companies come out with a generic boom,

779
00:39:25.120 --> 00:39:30.000
literally the day after because they respect patents.

780
00:39:30.040 --> 00:39:30.920
Patents are important.

781
00:39:31.120 --> 00:39:35.640
Did you know that the president at one point was contemplating,

782
00:39:36.840 --> 00:39:37.680
um,

783
00:39:38.360 --> 00:39:43.360
canceling the rights to certain pharmaceutical companies associated with

784
00:39:43.880 --> 00:39:48.480
certain patents because they felt that the president at the time felt that,

785
00:39:49.520 --> 00:39:51.040
uh, that pharmaceutical,

786
00:39:51.080 --> 00:39:54.960
that drug was needed so badly to save people in the United States,

787
00:39:54.960 --> 00:39:58.880
that they were willing to try to bypass the rights under patent law.

788
00:39:59.480 --> 00:40:00.320
It didn't go.

789
00:40:00.000 --> 00:40:04.720
through, because there was a massive, massive battle. They're

790
00:40:04.720 --> 00:40:08.560
like, Oh, no, you can't do that. This is a private right. You

791
00:40:08.560 --> 00:40:11.800
know, you can't all of a sudden say, everybody gets this for

792
00:40:11.800 --> 00:40:16.760
free. You can't do that. That's not legal. So it went back. But

793
00:40:16.760 --> 00:40:20.440
the point of the matter is, even the government acknowledges the

794
00:40:20.440 --> 00:40:24.200
power of a patent, one patent, you can file a patent

795
00:40:24.200 --> 00:40:27.320
application. And that patent application can be grabbed by

796
00:40:27.480 --> 00:40:32.160
by the government. It's called a black patent. Right? And they

797
00:40:32.160 --> 00:40:34.480
use that because of the term blackout, you know, where the

798
00:40:34.480 --> 00:40:37.600
lights are shut off. So they essentially shut off the lights

799
00:40:37.600 --> 00:40:40.480
to the patent, the government sees the patent, and there's

800
00:40:40.480 --> 00:40:43.480
certain categories of what's called black patents, where they

801
00:40:43.480 --> 00:40:47.480
say, the rights in this, Larissa, you guys slow down

802
00:40:47.480 --> 00:40:50.840
there. You're, you're just I see you swigging and like, soon

803
00:40:50.840 --> 00:40:54.800
you're gonna fall off your chair, you know? This is not

804
00:40:54.800 --> 00:40:56.960
legal advice. All right, go ahead and drink. Now you can

805
00:40:56.960 --> 00:41:02.320
drink. Okay. So the, the case is that if the patent has to do

806
00:41:02.320 --> 00:41:05.360
with security, like I used to write patents for BAE systems,

807
00:41:05.720 --> 00:41:08.760
right? We wrote a patent on something that'll blow your

808
00:41:08.760 --> 00:41:13.440
mind. Okay. The way the patent worked was, and this is public

809
00:41:13.440 --> 00:41:15.440
domain now. So I could tell you about this. I wrote the patent

810
00:41:15.440 --> 00:41:20.960
on this. The way it works was it took advantage of a satellite.

811
00:41:21.520 --> 00:41:27.080
The satellite was able to shoot a beam down. Okay. And as a shot

812
00:41:27.080 --> 00:41:30.440
a beam down, it was able to determine, because of

813
00:41:30.440 --> 00:41:34.720
reflection, it was able to determine exactly what kind of

814
00:41:34.720 --> 00:41:42.680
scopes were being used on the weapons of a platoon or people

815
00:41:42.720 --> 00:41:45.680
on the ground. Okay, because there's only a certain type of

816
00:41:45.680 --> 00:41:49.560
scopes that you use on certain weapons, right? So if you're if

817
00:41:49.560 --> 00:41:55.680
you're using like, like heat detection scopes, they know

818
00:41:55.680 --> 00:41:58.720
that's not a handgun, like that, that's a different kind of

819
00:41:58.720 --> 00:42:03.440
weapon. So they know exactly what kind of weapon lines up

820
00:42:03.480 --> 00:42:07.560
with that specific bandwidth, that focal, you know, that focal

821
00:42:07.560 --> 00:42:11.080
lens, everything, they analyze all that. So now once that comes

822
00:42:11.080 --> 00:42:16.080
back, now I can look through an index and say, okay, these guys

823
00:42:16.080 --> 00:42:20.000
are using ar 15. Or they're using whatever it is. So now I

824
00:42:20.000 --> 00:42:24.040
told my troops, hey, guys, the guys in the town that you're

825
00:42:24.040 --> 00:42:26.880
going into, they're using ar 15. That means that means you need

826
00:42:26.880 --> 00:42:30.480
to use this weapon and you need this kind of armor. You see,

827
00:42:30.520 --> 00:42:34.880
like, now, when we filed that patent, the government said,

828
00:42:34.920 --> 00:42:40.520
Whoa, hold on. Like, are you seriously telling me that your

829
00:42:40.520 --> 00:42:47.440
technology can determine our own troops, like us troops? What

830
00:42:47.440 --> 00:42:50.400
kind of weapons the US troops have in every country of the

831
00:42:50.400 --> 00:42:52.640
world? Is that what you're telling me you filed a patent

832
00:42:52.640 --> 00:42:56.680
on? And we said, Well, that's not the intent, but it could do

833
00:42:56.680 --> 00:43:02.080
that. Blackout. They called it a black patent, literally, they

834
00:43:02.080 --> 00:43:05.000
sent out a communication, your patent has been grabbed

835
00:43:05.000 --> 00:43:08.360
confiscated by the United States government. While we're doing an

836
00:43:08.360 --> 00:43:13.200
analysis to determine whether or not we're going to allow your

837
00:43:13.200 --> 00:43:17.640
patent to issue or be examined. Because they, if they allow it,

838
00:43:17.920 --> 00:43:22.240
after after 18 months, 18 months, year and a half, 18

839
00:43:22.240 --> 00:43:25.840
months, yes. After a year and a half, your patent publishes,

840
00:43:26.320 --> 00:43:29.800
unless you ask for non publication. So that means a

841
00:43:29.800 --> 00:43:36.520
patent on this technology for determining what exactly these

842
00:43:36.760 --> 00:43:40.800
these troops have for weapons on the ground, was going to become

843
00:43:40.800 --> 00:43:46.840
public domain within 18 months. All right. I mean, think about

844
00:43:46.840 --> 00:43:49.800
this for a second. This is a big deal. National security risk.

845
00:43:49.840 --> 00:43:54.320
Yeah, yes. Yes. It's a national security risk. So the

846
00:43:54.320 --> 00:43:59.440
government said, Oh, I don't like this, you know. And I

847
00:43:59.440 --> 00:44:01.920
actually, as I was following the patent, I was thinking that I

848
00:44:01.920 --> 00:44:04.400
don't know, I don't know, we're getting far with this, guys, you

849
00:44:04.400 --> 00:44:07.120
know, I'm getting paid either way, but I don't think you're

850
00:44:07.120 --> 00:44:10.680
getting jack or Jill out of this. And it happened, black

851
00:44:10.680 --> 00:44:15.560
patent, shut it down. And we had to wait, I think it was five

852
00:44:15.560 --> 00:44:19.600
years before the government actually approved even examining

853
00:44:19.600 --> 00:44:25.240
it. You know, so that that actually, the power of a patent

854
00:44:25.240 --> 00:44:29.080
is recognized by many institutions. Samuel, go ahead.

855
00:44:30.080 --> 00:44:34.520
Yeah, so I have a question on nutraceuticals, and

856
00:44:35.280 --> 00:44:39.040
nutraceuticals. Yeah. So as you probably know, I'm not a big

857
00:44:39.080 --> 00:44:43.720
pharma proponent myself. And I was just wondering what your

858
00:44:43.720 --> 00:44:47.320
experiences with patenting nutraceuticals kind of like

859
00:44:47.360 --> 00:44:51.960
highlight on the process and how you know, what's the Yeah,

860
00:44:51.960 --> 00:44:55.240
great question. Great question. All patentable. All of it is

861
00:44:55.240 --> 00:44:58.240
patentable. All right. But here's the thing, which is a lot

862
00:44:58.240 --> 00:45:00.040
of nutraceuticals, they're using substance

863
00:45:00.000 --> 00:45:02.320
does that obviously already exist, right?

864
00:45:02.320 --> 00:45:04.280
They're combining them certain ways.

865
00:45:04.280 --> 00:45:06.680
They may use some kind of heat processes

866
00:45:06.680 --> 00:45:09.480
to maintain the properties of the original elements,

867
00:45:09.480 --> 00:45:10.400
but you got to be careful

868
00:45:10.400 --> 00:45:13.320
because if used over certain heat levels,

869
00:45:13.320 --> 00:45:15.760
you destroy, you know,

870
00:45:15.760 --> 00:45:17.060
I'm not telling you anything you don't know.

871
00:45:17.060 --> 00:45:19.440
I'm just kind of saying so other people understand

872
00:45:19.440 --> 00:45:20.680
what you're talking about.

873
00:45:20.680 --> 00:45:22.980
So there's certain techniques

874
00:45:22.980 --> 00:45:26.200
that are really important to working with nutraceuticals

875
00:45:26.280 --> 00:45:31.280
because, you know, you heat up garlic over a certain level,

876
00:45:31.600 --> 00:45:34.340
you kind of destroy the properties of garlic

877
00:45:34.340 --> 00:45:36.840
that are actually used to destroy bacteria.

878
00:45:36.840 --> 00:45:40.000
You know, so garlic is very powerful.

879
00:45:40.000 --> 00:45:41.880
You know, even better,

880
00:45:41.880 --> 00:45:44.400
there's a product called Cat's Claw.

881
00:45:44.400 --> 00:45:46.280
Cat's Claw is very powerful.

882
00:45:46.280 --> 00:45:49.320
That thing will come after lime.

883
00:45:49.320 --> 00:45:51.040
You know, it'll destroy things.

884
00:45:51.040 --> 00:45:52.540
Did you guys, actually as an aside,

885
00:45:52.540 --> 00:45:56.600
just so you guys understand something.

886
00:45:57.580 --> 00:46:01.700
Before lime existed,

887
00:46:02.700 --> 00:46:04.900
the actual, this is so amazing.

888
00:46:04.900 --> 00:46:06.640
Before lime existed,

889
00:46:07.740 --> 00:46:12.380
the weed that is actually very effective

890
00:46:12.380 --> 00:46:14.880
in destroying the,

891
00:46:17.900 --> 00:46:18.740
what are the words?

892
00:46:18.740 --> 00:46:21.880
The bacteria that's associated with lime.

893
00:46:22.780 --> 00:46:23.740
Didn't exist.

894
00:46:25.420 --> 00:46:27.260
Like they've proven this.

895
00:46:27.260 --> 00:46:28.620
Like they didn't see it.

896
00:46:28.620 --> 00:46:30.980
Like they didn't find this weed anywhere.

897
00:46:30.980 --> 00:46:34.180
But all of a sudden this disease pops out out of nowhere.

898
00:46:34.180 --> 00:46:37.140
And then all of a sudden to match up with the disease

899
00:46:37.140 --> 00:46:39.260
out of just the divine,

900
00:46:39.260 --> 00:46:42.380
this plant manifests all of a sudden.

901
00:46:42.380 --> 00:46:44.340
That actually has herbal properties

902
00:46:44.340 --> 00:46:48.460
that will attack Babsia and all this other,

903
00:46:48.460 --> 00:46:52.500
you know, bacterias that can actually damage

904
00:46:53.340 --> 00:46:54.180
the body.

905
00:46:54.180 --> 00:46:55.740
I mean, that's like,

906
00:46:55.740 --> 00:46:57.060
if you look into lime disease

907
00:46:57.060 --> 00:46:58.540
and you actually analyze this stuff,

908
00:46:58.540 --> 00:47:00.980
you will, it'll blow your mind.

909
00:47:00.980 --> 00:47:02.020
Like of the thing.

910
00:47:02.020 --> 00:47:04.700
So anyways, to answer your question, Samuel,

911
00:47:04.700 --> 00:47:07.540
there's multiple things that are potentially patentable.

912
00:47:07.540 --> 00:47:10.540
There is the final product.

913
00:47:10.540 --> 00:47:13.340
And there's also the method of making that product.

914
00:47:13.340 --> 00:47:14.580
Okay.

915
00:47:14.580 --> 00:47:18.300
So, because in a lot of cases in what you're talking about,

916
00:47:18.300 --> 00:47:22.040
that process is not as simple as take one scoop of this,

917
00:47:22.040 --> 00:47:22.880
place it here.

918
00:47:22.880 --> 00:47:24.280
One scoop of that, place it there.

919
00:47:24.280 --> 00:47:26.080
Shake, shake, shake, drink it.

920
00:47:26.080 --> 00:47:26.920
Done.

921
00:47:26.920 --> 00:47:30.000
No, it's way more complicated than that.

922
00:47:30.000 --> 00:47:31.960
And so for that reason,

923
00:47:31.960 --> 00:47:34.440
that whole process is potentially patentable,

924
00:47:34.440 --> 00:47:37.720
but that begs the question of whether or not

925
00:47:37.720 --> 00:47:39.800
you want to maintain it as a trade secret.

926
00:47:40.920 --> 00:47:42.480
So, you know, the principle,

927
00:47:42.480 --> 00:47:47.480
the properties of the final product can be discovered,

928
00:47:47.720 --> 00:47:49.640
but you need to ask yourself,

929
00:47:50.480 --> 00:47:55.480
is it the case that nobody's going to be able to determine

930
00:47:56.760 --> 00:47:57.840
how to make this?

931
00:47:57.840 --> 00:48:00.400
Even though you understand that there are tires,

932
00:48:00.400 --> 00:48:03.560
there's a wheel, there's like an engine,

933
00:48:04.600 --> 00:48:06.440
just looking at the tires, wheels and engine,

934
00:48:06.440 --> 00:48:09.360
you're just not going to know how to make a car.

935
00:48:09.360 --> 00:48:11.160
Is that the case?

936
00:48:11.160 --> 00:48:14.560
Or is it the case that, yeah,

937
00:48:14.560 --> 00:48:16.320
people are going to be able to figure it out.

938
00:48:16.320 --> 00:48:18.280
That's the difference between filing a patent

939
00:48:19.120 --> 00:48:20.720
or maintaining a trade secret.

940
00:48:20.720 --> 00:48:22.080
You should ask yourself,

941
00:48:22.080 --> 00:48:23.080
if you're trying to determine,

942
00:48:23.080 --> 00:48:25.120
do I file a patent or do I maintain a trade secret?

943
00:48:25.120 --> 00:48:28.520
You should ask yourself, is this reverse engineerable?

944
00:48:30.200 --> 00:48:32.360
Can somebody who buys this thing,

945
00:48:32.360 --> 00:48:37.240
break it down and determine what's in it and make it?

946
00:48:37.240 --> 00:48:41.360
If they can, patent all day long,

947
00:48:41.360 --> 00:48:43.000
because you can't get a trade secret

948
00:48:43.000 --> 00:48:46.240
on something that other people can reverse engineer.

949
00:48:46.240 --> 00:48:47.720
It's not enforceable.

950
00:48:48.160 --> 00:48:49.160
It's just not going to work.

951
00:48:49.160 --> 00:48:50.880
One of the exceptions to a trade secret

952
00:48:50.880 --> 00:48:52.600
is that you reverse engineered it.

953
00:48:53.600 --> 00:48:56.240
So it doesn't work.

954
00:48:56.240 --> 00:48:58.360
All right, I am going to answer.

955
00:48:58.360 --> 00:48:59.440
Does that help you, Samuel?

956
00:48:59.440 --> 00:49:00.280
Yeah, it does.

957
00:49:00.280 --> 00:49:01.240
Just one more thing.

958
00:49:01.240 --> 00:49:02.080
Yeah, go ahead.

959
00:49:03.080 --> 00:49:05.600
The FDA working with pharmaceuticals,

960
00:49:05.600 --> 00:49:07.600
the pharmaceuticals actually, from what I understand,

961
00:49:07.600 --> 00:49:10.480
actually had set up the process for these hurdles

962
00:49:10.480 --> 00:49:14.960
to make a high barrier to entry for other people.

963
00:49:14.960 --> 00:49:17.000
And also working with the FDA

964
00:49:17.000 --> 00:49:22.000
to also classify diseases, conditions as diseases,

965
00:49:22.240 --> 00:49:24.360
so that they can then,

966
00:49:24.360 --> 00:49:26.400
only they can come up with a solution legally

967
00:49:26.400 --> 00:49:28.560
and anybody else can be, you know,

968
00:49:28.560 --> 00:49:29.400
they can enforce it.

969
00:49:29.400 --> 00:49:30.360
Yeah, don't get me started, man.

970
00:49:30.360 --> 00:49:31.200
Yeah, exactly.

971
00:49:31.200 --> 00:49:35.200
Don't even like, yeah, let's keep it happy here

972
00:49:35.200 --> 00:49:37.520
because it's like, it's so bad.

973
00:49:37.520 --> 00:49:39.800
There's so many regulations, there's so many things.

974
00:49:39.800 --> 00:49:40.640
And just to know,

975
00:49:40.640 --> 00:49:42.640
I know people in the pharmaceutical industry that I love,

976
00:49:42.640 --> 00:49:43.840
they're good at what they do.

977
00:49:43.840 --> 00:49:46.080
And I'm grateful for different drugs and stuff

978
00:49:46.080 --> 00:49:47.320
when they're needed, right?

979
00:49:47.320 --> 00:49:52.320
But there's a section of it that is very dark.

980
00:49:53.480 --> 00:49:57.120
You know, it's just not pleasant.

981
00:49:57.120 --> 00:49:59.240
And quite frankly, I mean, I'll be honest,

982
00:49:59.240 --> 00:50:00.080
there's a section.

983
00:50:00.000 --> 00:50:03.960
section of supplements. That's very dark. There's a section of

984
00:50:03.960 --> 00:50:07.800
you know, ministry. It's very dark. Like it's, you know,

985
00:50:07.840 --> 00:50:12.480
darkness will try to invade any area that you will allow it to

986
00:50:12.480 --> 00:50:16.280
exist. But you know, the way people usually address darkness

987
00:50:16.280 --> 00:50:18.760
is they keep addressing the darkness. It's like, no, if you

988
00:50:18.760 --> 00:50:22.560
walk in light, darkness, please. That's why focus on light.

989
00:50:22.800 --> 00:50:25.360
Darkness just goes. When you walk into a room, you don't say

990
00:50:25.360 --> 00:50:28.960
darkness flee. You just turn on the light, the darkness goes

991
00:50:28.960 --> 00:50:32.560
done. It's over. Like stop focusing on the darkness all

992
00:50:32.560 --> 00:50:36.240
the time. It's just a waste of time. Alright, so with that, I'm

993
00:50:36.240 --> 00:50:43.760
going to take one more question here. Oh, this is hard. You

994
00:50:43.760 --> 00:50:48.640
guys. Oh, you guys are. Okay, I'm taking Brittany, are you in

995
00:50:48.640 --> 00:50:54.160
the portal? You are Wednesday, we're going live. So you could

996
00:50:54.160 --> 00:50:57.440
ask 4 billion questions. And on Wednesday, I'll give you I will

997
00:50:57.440 --> 00:51:00.520
give you the first question in the portal on Wednesday. Okay.

998
00:51:00.960 --> 00:51:04.440
You have number one question. So that breaks it. Is that okay?

999
00:51:04.560 --> 00:51:07.480
I'm not hurting you by doing that. Am I? Okay, good. Alright,

1000
00:51:07.480 --> 00:51:12.320
so by that we go down to Axel and Karen. So Karen, go ahead,

1001
00:51:12.320 --> 00:51:13.760
Axel. What are you gonna say? What?

1002
00:51:14.160 --> 00:51:20.400
Okay. Just thank you, Peter. I'm Brittany. But because I don't

1003
00:51:20.400 --> 00:51:21.080
know if Karen

1004
00:51:21.120 --> 00:51:22.880
had asked you a question. I'm gonna I'm gonna answer your

1005
00:51:22.880 --> 00:51:25.760
question. I'm gonna answer Karen's. Oh, mine. Yeah, good.

1006
00:51:25.880 --> 00:51:30.120
Okay. Okay. So I'm seeing the categories of protection from

1007
00:51:30.120 --> 00:51:34.000
the diagram that you sent to us via Facebook from the first day.

1008
00:51:34.880 --> 00:51:42.760
So I see that patent patents may include methods and systems.

1009
00:51:43.040 --> 00:51:48.560
Yes. And in the software world, I know that software may be

1010
00:51:48.920 --> 00:51:54.280
patentable via methods and system of etc. But I also see

1011
00:51:54.280 --> 00:51:58.480
functionality of software as a category. And I don't know,

1012
00:51:58.920 --> 00:52:02.040
which or what the differences are between

1013
00:52:02.040 --> 00:52:10.400
Yeah, let me I'm very happy to explain that one. Okay. Move

1014
00:52:10.400 --> 00:52:16.600
this over. Okay, so under patents, where it's talking

1015
00:52:16.600 --> 00:52:20.840
about functionality of software. So that functionality of

1016
00:52:20.840 --> 00:52:24.120
software as a method, anybody who's ever used software before

1017
00:52:24.440 --> 00:52:28.520
um, you know what I'm gonna do? Hold on a second. Brittany still

1018
00:52:28.520 --> 00:52:31.480
here. She is. Brittany, I'm gonna answer your question. I

1019
00:52:31.480 --> 00:52:35.400
can't. I can't do what I just did. I don't have a heart to do

1020
00:52:35.400 --> 00:52:38.320
that. I'm just it's so hard for me to like say no to people.

1021
00:52:38.520 --> 00:52:42.000
Alright, so um, so on the patent side, the functionality

1022
00:52:42.000 --> 00:52:48.440
associated with a software, usually, if you've ever written

1023
00:52:48.440 --> 00:52:50.680
software, you start out with a flowchart, like I'm going to do

1024
00:52:50.680 --> 00:52:53.280
a and then I'm going to do B, and I'm going to take the

1025
00:52:53.280 --> 00:52:56.440
results of B, and I'm going to do this and come up with C. And

1026
00:52:56.680 --> 00:52:58.840
those are like the sequence. That's like the sequence that's

1027
00:52:58.840 --> 00:53:02.960
utilized, right? So that process is a method that method is

1028
00:53:02.960 --> 00:53:07.840
protectable by path. Okay. All right. Now let me go over to

1029
00:53:10.080 --> 00:53:14.200
let me move up. Karen, one question, my friend. Go ahead.

1030
00:53:16.400 --> 00:53:17.400
I'm you. I'm you.

1031
00:53:17.560 --> 00:53:23.840
There you go. On trademark, our trade secrets. What's the the

1032
00:53:23.880 --> 00:53:26.520
process? You just keep it a secret.

1033
00:53:27.520 --> 00:53:30.760
Yeah, that's a whole other. Are you going to be in the portal?

1034
00:53:30.800 --> 00:53:31.240
You know,

1035
00:53:31.680 --> 00:53:33.920
I don't I don't have the cash flow right now. I'm trying to

1036
00:53:33.920 --> 00:53:34.040
get

1037
00:53:35.760 --> 00:53:38.840
let's talk. We'll talk separate. We'll have to figure something

1038
00:53:38.840 --> 00:53:42.560
out because you're dealing with a lot of stuff. So I might just

1039
00:53:42.560 --> 00:53:44.840
kind of talk with you a little bit and see if we could figure

1040
00:53:44.960 --> 00:53:48.000
something out for you. Because you need it. But alright, so

1041
00:53:48.000 --> 00:53:48.760
trade secret.

1042
00:53:54.200 --> 00:53:56.920
There are multiple things, multiple things that are

1043
00:53:56.920 --> 00:54:02.240
required on the trade secret law, like a lot. The the

1044
00:54:02.240 --> 00:54:06.280
information can't be accessible to the public. Which means you

1045
00:54:06.280 --> 00:54:09.160
can't just put it on even a local area network can't be

1046
00:54:09.160 --> 00:54:11.680
there either. It needs to be like what I would do is I would

1047
00:54:11.960 --> 00:54:15.720
like a standalone computer, right? The only people who can

1048
00:54:15.720 --> 00:54:18.880
access that are people that have the authority to access that

1049
00:54:18.880 --> 00:54:22.840
nobody else. Like don't put it in the middle of the office

1050
00:54:23.000 --> 00:54:26.560
where the janitor can come in and type in and say, Oh, wow,

1051
00:54:26.560 --> 00:54:29.800
that's your formula, like it's gonna be hard to enforce. So

1052
00:54:29.800 --> 00:54:33.760
there has to be multiple layers, multiple layers of protection,

1053
00:54:34.440 --> 00:54:40.200
meaning accessibility, people, like and and what I tend to tell

1054
00:54:40.200 --> 00:54:44.080
people is, is you should also have policies associated with

1055
00:54:44.080 --> 00:54:48.960
it. Right? So that these policies make it clear that this

1056
00:54:48.960 --> 00:54:52.040
is not public material like this is not accessible to the

1057
00:54:52.040 --> 00:54:55.280
public. So it can't be on your website can't be you know, can't

1058
00:54:55.280 --> 00:54:58.080
be on your local area network should be standalone computer

1059
00:54:58.080 --> 00:54:59.480
only certain people access it.

1060
00:55:00.000 --> 00:55:02.740
like there's multiple requirements.

1061
00:55:02.740 --> 00:55:06.140
And under trade secrets are actually determined,

1062
00:55:06.140 --> 00:55:09.220
there's different regulations per state.

1063
00:55:09.220 --> 00:55:11.820
Like different states have certain regulations

1064
00:55:11.820 --> 00:55:13.540
associated with trade secrets.

1065
00:55:13.540 --> 00:55:15.900
So even though there's like a federal aspect to it,

1066
00:55:15.900 --> 00:55:17.380
there's also a state aspect to it.

1067
00:55:17.380 --> 00:55:19.660
So it's a very complex area.

1068
00:55:19.660 --> 00:55:22.340
So if you're trying to maintain something

1069
00:55:22.340 --> 00:55:26.260
as a trade secret, don't describe it to anybody,

1070
00:55:26.260 --> 00:55:29.260
don't put it anywhere anybody else can access,

1071
00:55:29.260 --> 00:55:31.780
make sure it's in a standalone environment

1072
00:55:31.780 --> 00:55:35.120
and keep it very quiet, very quiet.

1073
00:55:36.340 --> 00:55:38.260
You know, and just remember,

1074
00:55:39.300 --> 00:55:42.240
you should have a warning on there that says,

1075
00:55:43.460 --> 00:55:47.000
anybody who accesses this will be shot on sight.

1076
00:55:47.000 --> 00:55:49.340
That's very important, very important for enforcement.

1077
00:55:49.340 --> 00:55:54.340
All right, I saw it on a 007 episode, very important.

1078
00:55:54.340 --> 00:55:57.120
So it's gotta be true, it's gotta be true.

1079
00:55:57.120 --> 00:55:57.960
Okay.

1080
00:55:57.960 --> 00:56:01.720
I'm gonna repeat it, that anyone who,

1081
00:56:03.000 --> 00:56:04.440
I'm literally writing it.

1082
00:56:05.840 --> 00:56:09.560
It's a joke, it's a joke, not true, not true, not true.

1083
00:56:09.560 --> 00:56:11.600
I'll just write, phew, phew.

1084
00:56:11.600 --> 00:56:12.840
Definitely, definitely not true.

1085
00:56:12.840 --> 00:56:14.880
What I said is anybody who accesses this

1086
00:56:14.880 --> 00:56:16.080
will be shot on sight.

1087
00:56:16.080 --> 00:56:17.600
Oh, okay, okay, okay.

1088
00:56:17.600 --> 00:56:21.200
Do not put that, not, it's a joke, it's a joke.

1089
00:56:21.200 --> 00:56:22.040
All right, my friends.

1090
00:56:22.040 --> 00:56:24.000
It's not legal advice.

1091
00:56:24.000 --> 00:56:27.880
Not legal, yes, we will close by drinking.

1092
00:56:28.720 --> 00:56:30.160
That was not legal advice.

1093
00:56:32.640 --> 00:56:35.000
I love you guys, you guys are great.

1094
00:56:35.000 --> 00:56:36.720
All right, and with that,

1095
00:56:36.720 --> 00:56:40.200
it's been an incredible honor to host all of you.

1096
00:56:40.200 --> 00:56:42.440
TJ, what's up, brother?

1097
00:56:42.440 --> 00:56:45.400
You were gonna answer my question from yesterday.

1098
00:56:45.400 --> 00:56:46.760
Go ahead, say it again.

1099
00:56:46.760 --> 00:56:50.720
So, well, I ran into a challenge.

1100
00:56:50.720 --> 00:56:53.000
Once I registered with the port

1101
00:56:53.000 --> 00:56:55.120
and it wants to double verify me,

1102
00:56:56.120 --> 00:56:57.520
that's no problem.

1103
00:56:57.520 --> 00:56:58.680
How many traffic lights?

1104
00:56:58.680 --> 00:57:01.200
I can do that, but then it takes me to a page

1105
00:57:01.200 --> 00:57:04.720
of authentication of some kind

1106
00:57:04.720 --> 00:57:07.640
and put an authentication app on your phone

1107
00:57:07.640 --> 00:57:08.920
and I tried Google and I tried-

1108
00:57:08.920 --> 00:57:10.840
Oh, yeah, I saw that, you published that.

1109
00:57:10.840 --> 00:57:13.520
Yeah, let's DM on that separate.

1110
00:57:13.520 --> 00:57:16.160
Yeah, so my question from yesterday is

1111
00:57:17.640 --> 00:57:22.360
the new name that I came up with for my tiny home business

1112
00:57:22.360 --> 00:57:27.200
and the tiny home village can fall under that same name.

1113
00:57:27.200 --> 00:57:29.280
So when I search, you know,

1114
00:57:29.280 --> 00:57:31.760
so tiny home manufacturing is contracting.

1115
00:57:31.760 --> 00:57:34.560
Do I look under contracting?

1116
00:57:34.560 --> 00:57:36.000
And then the tiny home village,

1117
00:57:36.000 --> 00:57:38.560
would that be under real estate?

1118
00:57:38.560 --> 00:57:41.960
I mean, if I'm looking in specific areas

1119
00:57:41.960 --> 00:57:45.720
to find out if it's not already being used,

1120
00:57:45.720 --> 00:57:47.920
how do I go about that?

1121
00:57:47.920 --> 00:57:50.400
Remember the list of international classes

1122
00:57:50.400 --> 00:57:52.760
that I posted in the Facebook group?

1123
00:57:52.760 --> 00:57:54.360
I would look in there and look for anything

1124
00:57:54.360 --> 00:57:57.160
that's similar in the field.

1125
00:57:57.160 --> 00:57:59.800
And then I would search all of those international classes.

1126
00:57:59.800 --> 00:58:02.360
But remember the very first thing I told you,

1127
00:58:02.360 --> 00:58:05.320
do not rely upon your own search, hire an attorney.

1128
00:58:05.320 --> 00:58:06.160
No, I understand that.

1129
00:58:06.160 --> 00:58:08.480
Because that very question that you asked

1130
00:58:08.480 --> 00:58:10.520
means to me that there are things

1131
00:58:10.520 --> 00:58:12.120
that may be related to what you're doing.

1132
00:58:12.120 --> 00:58:13.240
You got to make sure you're clear

1133
00:58:13.240 --> 00:58:14.440
so you don't get in trouble.

1134
00:58:14.440 --> 00:58:18.080
I understand that, but I wanted to become prepared to you

1135
00:58:18.080 --> 00:58:19.400
or whoever I-

1136
00:58:19.400 --> 00:58:20.400
Absolutely, brother.

1137
00:58:20.400 --> 00:58:24.400
But now can we handle the authentication thing?

1138
00:58:24.400 --> 00:58:25.240
Because now I can't-

1139
00:58:25.240 --> 00:58:26.080
Yeah, we'll do that separate.

1140
00:58:26.080 --> 00:58:26.920
I'll DM you.

1141
00:58:26.920 --> 00:58:27.800
You and I will walk through that

1142
00:58:27.800 --> 00:58:30.160
because I saw that glitch

1143
00:58:30.160 --> 00:58:33.320
that there's like multiple layers of authenticity

1144
00:58:33.320 --> 00:58:34.200
that's been added.

1145
00:58:34.200 --> 00:58:38.160
And actually the USPTO just added another one

1146
00:58:38.160 --> 00:58:39.600
because what's happening is people

1147
00:58:39.600 --> 00:58:41.360
are hacking into the system.

1148
00:58:42.520 --> 00:58:47.520
It's deeper than just a double authentication.

1149
00:58:48.120 --> 00:58:49.040
Yeah, yeah.

1150
00:58:49.680 --> 00:58:50.520
We'll walk through it together.

1151
00:58:50.520 --> 00:58:52.080
What I can do is send you like a Skype

1152
00:58:52.080 --> 00:58:53.560
and we can try to do it together.

1153
00:58:53.560 --> 00:58:54.400
So thank you.

1154
00:58:54.400 --> 00:58:55.800
We'll see if we can figure it out, right?

1155
00:58:55.800 --> 00:58:57.560
Stay blessed, everybody.

1156
00:58:57.560 --> 00:58:58.400
All right, Larissa,

1157
00:58:58.400 --> 00:59:00.400
did you have something to say before I close?

1158
00:59:02.160 --> 00:59:03.440
I was actually, not really,

1159
00:59:03.440 --> 00:59:04.960
but if you wanna check your DM real quick,

1160
00:59:04.960 --> 00:59:05.800
look at your chat.

1161
00:59:05.800 --> 00:59:06.880
I'll check my DM.

1162
00:59:09.120 --> 00:59:11.320
Oh my gosh, hold on.

1163
00:59:11.320 --> 00:59:12.160
Just at the bottom.

1164
00:59:12.160 --> 00:59:13.200
Yeah, scroll all the way to the bottom.

1165
00:59:13.200 --> 00:59:14.480
I should be at the bottom.

1166
00:59:14.480 --> 00:59:16.200
I see a smiley face on the bottom.

1167
00:59:16.200 --> 00:59:17.840
That's Tracy, just above that.

1168
00:59:19.880 --> 00:59:22.480
The other day you said you would try to get to this.

1169
00:59:22.480 --> 00:59:23.720
Thomson Reuters?

1170
00:59:23.720 --> 00:59:24.560
Yeah.

1171
00:59:24.560 --> 00:59:27.000
Yeah, I'm gonna put the link in the Facebook group for them.

1172
00:59:27.000 --> 00:59:28.040
Okay.

1173
00:59:28.040 --> 00:59:29.040
Yeah.

1174
00:59:29.040 --> 00:59:30.920
Yeah, so basically Thomson Reuters

1175
00:59:30.920 --> 00:59:34.200
is one of the formal trademark searching entities.

1176
00:59:34.200 --> 00:59:36.160
So we'll just put the link in there

1177
00:59:36.160 --> 00:59:37.600
so you guys can check them out.

1178
00:59:37.600 --> 00:59:41.480
Yeah, I just, I felt like you hadn't said yet.

1179
00:59:41.480 --> 00:59:42.840
So I apologize if you have said,

1180
00:59:42.840 --> 00:59:44.840
but it was so important that before,

1181
00:59:44.840 --> 00:59:47.400
like if people understand like what goes,

1182
00:59:47.400 --> 00:59:50.040
what you're paying people to do

1183
00:59:50.040 --> 00:59:51.640
with like the Thomson Reuters searches,

1184
00:59:51.640 --> 00:59:53.520
like even a paralegal.

1185
00:59:53.520 --> 00:59:55.040
Oh, that could take hours and hours,

1186
00:59:55.040 --> 00:59:57.120
but this brings it down.

1187
00:59:57.120 --> 00:59:58.280
Am I saying that wrong?

1188
00:59:59.320 --> 01:00:00.160
Well-

1189
01:00:00.000 --> 01:00:03.040
So, all right, just so people understand,

1190
01:00:03.040 --> 01:00:04.960
when you hire a third party to do a search,

1191
01:00:04.960 --> 01:00:07.440
they have their own searching ways that they use, right?

1192
01:00:07.440 --> 01:00:09.280
Thomson Reuters is probably the best.

1193
01:00:10.800 --> 01:00:12.320
They're probably the best out there.

1194
01:00:12.320 --> 01:00:17.240
They will give you literally a book of results.

1195
01:00:17.240 --> 01:00:20.120
So, what I would say is,

1196
01:00:20.120 --> 01:00:23.060
if you're gonna have a formal search done,

1197
01:00:23.060 --> 01:00:24.480
I would use Thomson Reuters.

1198
01:00:24.480 --> 01:00:27.000
Like, I don't get anything out of this.

1199
01:00:27.520 --> 01:00:30.560
And I'm gonna put this in the Facebook group.

1200
01:00:30.560 --> 01:00:32.640
There's no affiliate links for Thomson Reuters,

1201
01:00:32.640 --> 01:00:33.480
just so you know.

1202
01:00:34.760 --> 01:00:36.200
It's a massive corporation.

1203
01:00:36.200 --> 01:00:39.080
They don't use affiliate links, it doesn't exist.

1204
01:00:39.080 --> 01:00:42.080
So, I'll put it in the group for you guys.

1205
01:00:42.080 --> 01:00:45.840
And with that, my friends, it has been a remarkable honor.

1206
01:00:45.840 --> 01:00:48.520
I hope to see you guys in the portal.

1207
01:00:48.520 --> 01:00:50.320
Sign up if you have a question on that.

1208
01:00:50.320 --> 01:00:52.280
Ping me, DM me, whatever.

1209
01:00:52.280 --> 01:00:54.520
Let's get you in there so we can take care of you guys.

1210
01:00:54.520 --> 01:00:56.560
And then separate from that,

1211
01:00:57.120 --> 01:00:57.960
I hope you've enjoyed it.

1212
01:00:57.960 --> 01:00:59.400
Let other people know about this challenge

1213
01:00:59.400 --> 01:01:02.320
so that they can enjoy what you've enjoyed.

1214
01:01:02.320 --> 01:01:05.520
It'll probably be a week before I update

1215
01:01:05.520 --> 01:01:08.200
for the next challenge, which will be in September.

1216
01:01:08.200 --> 01:01:11.360
And the beauty is, you will have,

1217
01:01:14.800 --> 01:01:16.100
you've been through the process,

1218
01:01:16.100 --> 01:01:18.360
so you'll be able to speak life into other people.

1219
01:01:18.360 --> 01:01:20.840
And you'll see, you'll see all of a sudden,

1220
01:01:20.840 --> 01:01:22.080
people will just be drawn to you

1221
01:01:22.080 --> 01:01:23.160
and you'll be able to guide them.

1222
01:01:23.160 --> 01:01:25.960
You'll notice, it's just the way it plays out.

1223
01:01:26.000 --> 01:01:27.680
All right, you guys, bless you all.

1224
01:01:27.680 --> 01:01:28.800
I'm gonna jump off.

1225
01:01:28.800 --> 01:01:31.080
Larissa can close off with all of you.

1226
01:01:31.080 --> 01:01:33.520
Please fill out the review form for me.

1227
01:01:33.520 --> 01:01:35.760
That means a lot to me

1228
01:01:35.760 --> 01:01:37.880
because your opinions are important to me.

1229
01:01:37.880 --> 01:01:39.400
Rae, did you have anything?

1230
01:01:39.400 --> 01:01:40.480
Yeah, I have a question.

1231
01:01:40.480 --> 01:01:43.520
Do you, are you okay with me resending out that email

1232
01:01:43.520 --> 01:01:45.200
for the feedback form right now?

1233
01:01:45.200 --> 01:01:47.800
I can just send it so it's at the top of everyone's inbox.

1234
01:01:47.800 --> 01:01:48.640
Yeah, sure.

1235
01:01:48.640 --> 01:01:49.680
Yeah, Rae, you're awesome.

1236
01:01:49.680 --> 01:01:50.640
I appreciate that.

1237
01:01:50.640 --> 01:01:51.680
Gotcha, guys.

1238
01:01:51.680 --> 01:01:53.080
All right, let's see.

1239
01:01:53.080 --> 01:01:54.360
And tomorrow, that's correct.

1240
01:01:54.360 --> 01:01:55.780
Tomorrow's the bonus day.

1241
01:01:56.420 --> 01:01:57.420
That's right, so we'll post that.

1242
01:01:57.420 --> 01:01:58.540
All right, I'm gonna jump off.

1243
01:01:58.540 --> 01:02:01.820
Larissa can finish off and talk to you guys later.

1244
01:02:01.820 --> 01:02:02.660
Thank you.

1245
01:02:02.660 --> 01:02:03.500
Take care.

1246
01:02:03.500 --> 01:02:04.340
Thank you, Peter.

1247
01:02:04.340 --> 01:02:05.180
You're so welcome.

1248
01:02:05.180 --> 01:02:06.100
Take care.

1249
01:02:06.100 --> 01:02:06.940
God bless you.

1250
01:02:09.820 --> 01:02:12.140
Feedback form is amazing.

1251
01:02:12.140 --> 01:02:15.140
And if you wanna say anything else, drop some love.

1252
01:02:15.140 --> 01:02:17.180
We save these chats on purpose

1253
01:02:17.180 --> 01:02:19.540
and then Peter can see like little loves.

1254
01:02:19.540 --> 01:02:21.260
You're just feeling it today.

1255
01:02:21.260 --> 01:02:23.380
Fire emojis, hearts.

1256
01:02:23.380 --> 01:02:25.420
How very important.

1257
01:02:26.060 --> 01:02:27.820
The bonus is at Eastern time, 12,

1258
01:02:27.820 --> 01:02:30.340
just like the same time we've started all week.

1259
01:02:30.340 --> 01:02:34.260
Boom, tomorrow, same time, same station,

1260
01:02:34.260 --> 01:02:37.060
same regular challenge link.

1261
01:02:37.060 --> 01:02:38.860
Well, there's an event in the event tab,

1262
01:02:38.860 --> 01:02:40.700
so he might've had to extend it.

1263
01:02:40.700 --> 01:02:43.180
So in the Facebook group,

1264
01:02:43.180 --> 01:02:48.180
and Rae, you're gonna put that link for bonus day.

1265
01:02:48.780 --> 01:02:50.460
Is that gonna be in the email?

1266
01:02:50.460 --> 01:02:53.060
Yeah, I'll send it in the email so everyone can access it.

1267
01:02:53.060 --> 01:02:54.820
I'll make sure it's in Facebook as well.

1268
01:02:55.220 --> 01:02:56.540
I'll make sure you guys get what you need.

1269
01:02:56.540 --> 01:02:57.380
Yay.

1270
01:02:59.580 --> 01:03:01.820
Go ahead, Rae.

1271
01:03:01.820 --> 01:03:02.660
Oh, sorry.

1272
01:03:02.660 --> 01:03:05.060
I just emailed everybody that feedback form as well.

1273
01:03:05.060 --> 01:03:06.020
So you guys got it.

1274
01:03:06.020 --> 01:03:09.660
It helps Peter and me and Larissa and everyone on our team.

1275
01:03:09.660 --> 01:03:13.220
It helps us so much to hear how it was for you

1276
01:03:13.220 --> 01:03:15.980
and how we can actually make things better

1277
01:03:15.980 --> 01:03:17.780
for every other person,

1278
01:03:17.780 --> 01:03:20.300
challenge all your loved ones that you bring in.

1279
01:03:20.300 --> 01:03:21.940
We wanna make it the best we can.

1280
01:03:21.940 --> 01:03:24.820
So please, please, please fill that out for us.

1281
01:03:24.820 --> 01:03:25.660
It helps a lot.

1282
01:03:27.300 --> 01:03:29.340
Helene, you got some love to share?

1283
01:03:29.340 --> 01:03:34.340
I just wanted TJ to know, I sent him a private DM there.

1284
01:03:34.340 --> 01:03:37.380
In my other group that I'm on at the same time as this,

1285
01:03:37.380 --> 01:03:40.340
the Kingdom Warriors, there was somebody there

1286
01:03:40.340 --> 01:03:43.780
who was interested in tiny homes for vets.

1287
01:03:43.780 --> 01:03:46.660
And so that's where I want to try to connect the two.

1288
01:03:46.660 --> 01:03:48.260
So maybe it's a win-win.

1289
01:03:49.220 --> 01:03:50.540
Oh, community.

1290
01:03:50.540 --> 01:03:53.060
So good, so good.

1291
01:03:53.060 --> 01:03:53.900
We love you all.

1292
01:03:53.900 --> 01:03:55.900
We thank you for being here,

1293
01:03:55.900 --> 01:03:58.660
for soaking it all up, for being great sponges

1294
01:03:59.540 --> 01:04:00.780
and for processing.

1295
01:04:00.780 --> 01:04:02.340
You're just beautiful people.

1296
01:04:03.180 --> 01:04:05.020
Beautiful to see your faces every day.

1297
01:04:05.020 --> 01:04:06.260
Really, we have to look at them.

1298
01:04:06.260 --> 01:04:07.100
I'm just kidding.

1299
01:04:07.100 --> 01:04:07.940
No, we do.

1300
01:04:07.940 --> 01:04:09.700
I mean it from the bottom of my heart.

1301
01:04:09.700 --> 01:04:10.540
We love your hearts.

1302
01:04:10.540 --> 01:04:11.380
We love your faces.

1303
01:04:11.380 --> 01:04:14.660
There's favor in your faces, victory in your voices.

1304
01:04:14.660 --> 01:04:16.660
So have a fun day.

1305
01:04:16.660 --> 01:04:18.860
And hopefully we'll see all of you tomorrow.

1306
01:04:20.860 --> 01:04:21.700
Thank you.