WEBVTT 1 00:00:00.000 --> 00:00:15.000 We want to hear from you, so just go to the Michelle, let me get you highlighted. 2 00:00:15.000 --> 00:00:29.000 Yes. Hi everyone. So, I just thought it was so great throughout this entire challenge but, um, you know, with the patents it's really interesting because of the fact that it's really just, I was just, I've been learning a lot about patents 3 00:00:29.000 --> 00:00:45.000 and like that it's really just to prevent other people from making your thing. And so I just thought it was really interesting in the way that you can just like license them and everything like that, instead of like having to make anything yourself. 4 00:00:45.000 --> 00:00:52.000 So it was, it's been good I've just been soaking it all in and learning a lot. So, that's, that's my share. 5 00:00:52.000 --> 00:01:05.000 Awesome. Yeah, so good. By the way, you look fabulous. I don't know if you have a hot date tonight or what, but I just can't help but say that you look fabulous tonight, versus I'm doing like you know casual Saturday. 6 00:01:05.000 --> 00:01:12.000 But there's a ring. What is that about? Oh, you have to tell me later. Okay, that's not, that's off topic. Okay. 7 00:01:12.000 --> 00:01:18.000 All right. Another share please. 8 00:01:19.000 --> 00:01:25.000 I knew it. I knew I could depend on you. Let me get your spotlight and go ahead and unmute yourself. 9 00:01:25.000 --> 00:01:28.000 Hey, how are you guys. 10 00:01:28.000 --> 00:01:43.000 Wow, yesterday was pretty different to what Peter normally does in some cases but I think for me, even I've been learning all about all the trademarks and stuff from the patents and that. 11 00:01:43.000 --> 00:01:52.000 I went to bed last night and my head was exploding because I have so many, God gives me so many downloads that I have a book next to my bed where I write this stuff down. 12 00:01:52.000 --> 00:02:00.000 So, big mistake. I looked at my book that I'd already had stuff written down before I went to bed. 13 00:02:00.000 --> 00:02:10.000 Man, I could barely sleep. I was up at 2am, I woke up at 4.29, I woke up at 4.54 and I had another pen just writing stuff. 14 00:02:10.000 --> 00:02:16.000 I think what he was saying yesterday about hearing what God's saying and then just basically just sitting again and listening. 15 00:02:16.000 --> 00:02:23.000 And pretty much that's kind of what I did. I just lay in bed and listened, and then I couldn't sleep because there was just so many downloads. 16 00:02:23.000 --> 00:02:30.000 So I actually, I have got a whole mock changing idea that he just downloaded to me. 17 00:02:30.000 --> 00:02:43.000 And I was like, wow, okay. So now, yeah, anyway, I guess later I don't have to speak to Peter about it, but obviously if you put it out in public, you can't do the trademark and the patents. 18 00:02:43.000 --> 00:02:52.000 So anyway, so yeah, that was a radical. So anyway, I think yesterday was for me, pretty much. 19 00:02:52.000 --> 00:02:55.000 Anyway, I'll take it. 20 00:02:55.000 --> 00:03:06.000 Wow, that is the best. I'm surprised that Peter hasn't unmuted already, except for like sometimes he's still like praying and preparing for you because he, I'm sure he's listening in the background because that is amazing. 21 00:03:06.000 --> 00:03:13.000 Like that is the best thing that could happen to be, you know, connected to our creator. 22 00:03:13.000 --> 00:03:18.000 We're little creators. We are the part of his creation and we get to create as well. 23 00:03:18.000 --> 00:03:23.000 That is truly partnering with God because he said, you know, take dominion over the land. 24 00:03:23.000 --> 00:03:30.000 And, you know, that's what we're supposed to do by connecting with him and getting our God downloads. So happy for you, Anthony. 25 00:03:30.000 --> 00:03:41.000 Like that's a good reason to be up in the middle of the night is hearing from God and getting new ideas for yourself, for your family, for the legacy you leave, you know, to impact this world. 26 00:03:41.000 --> 00:03:44.000 So kudos. 27 00:03:45.000 --> 00:03:53.000 Thank you for sharing. And Jane, give me a second. Can't wait to hear from you. Let me get you spotlighted. So go ahead and unmute and share. What did you learn this week? 28 00:03:54.000 --> 00:04:14.000 Well, I would suggest that this is really an eye opener for those who are serious about starting the business or thinking about seriously starting the business is because we need to know all the ins and outs before we really step out and waste money or time. 29 00:04:15.000 --> 00:04:30.000 So find out now what is needed that would start to legally set yourself up so that you know whether your business is ready to move forward or wait and so forth and so on. 30 00:04:31.000 --> 00:04:50.000 So this is like a prep to really think about starting a business or before just before you start your business. Definitely. Awesome. And material information, even just the feedback and everything that is so needed, you know, for those who are seriously starting a business, especially in the kingdom of God. 31 00:04:50.000 --> 00:04:58.000 Yeah, good point. Good point. I heard I did hear what Anthony mentioned, too. Yeah, really good feedback, everybody. 32 00:05:00.000 --> 00:05:05.240 We've covered a lot of material and we've gone through a lot of things and I've heard 33 00:05:05.240 --> 00:05:09.960 from some of you that are actually changing your businesses already. 34 00:05:09.960 --> 00:05:16.160 Just out of curiosity, if you feel like you can share this, it's up to you, obviously. 35 00:05:16.160 --> 00:05:20.440 If you feel you can share this, if there's something that you have changed in your own 36 00:05:20.440 --> 00:05:28.640 business based on what you have learned this week alone, I would love to hear that. 37 00:05:28.640 --> 00:05:33.040 I would love for you to share that because that would not only help us to understand 38 00:05:33.040 --> 00:05:37.640 which things are really helping you, but that might give insight to other people here that 39 00:05:37.640 --> 00:05:44.720 are coming up with ideas or running businesses and something that they may want to consider. 40 00:05:44.720 --> 00:05:46.480 Has anybody fallen to that category? 41 00:05:46.480 --> 00:05:49.880 Something that you changed, you actually have been here this week and something that you 42 00:05:49.880 --> 00:05:54.160 learned you're actually applying to your own business already. 43 00:05:55.160 --> 00:06:00.400 It's funny that Todd enters the second that I say that. 44 00:06:00.400 --> 00:06:04.320 Ray, go ahead, Ray. 45 00:06:04.320 --> 00:06:08.760 I can even personally say just being in your company and working together over the last 46 00:06:08.760 --> 00:06:15.400 year, mine's not just the last week, but the last year, I let even myself go off of procrastination 47 00:06:15.400 --> 00:06:22.400 guilt because you showed me that there was a reason I wasn't urged to move forward and 48 00:06:22.400 --> 00:06:26.800 I had a hesitation that I didn't trust, so I was blaming myself and being guilty for 49 00:06:26.800 --> 00:06:29.040 my own works. 50 00:06:29.040 --> 00:06:34.200 Working with you helped me absolve that because it was more of trusting the plan, just in 51 00:06:34.200 --> 00:06:40.080 life and the works that we do, so it was awesome and I just want to say thank you. 52 00:06:40.080 --> 00:06:45.080 I say thank you every day for you, so I'm grateful we're working together and Larissa 53 00:06:45.080 --> 00:06:46.080 as well. 54 00:06:46.080 --> 00:06:47.080 Me too. 55 00:06:47.080 --> 00:06:48.080 Yeah. 56 00:06:48.080 --> 00:06:49.080 Anthony, go ahead. 57 00:06:50.080 --> 00:06:59.080 Yeah, I think going through the logos online was helpful for me because I was able to see 58 00:06:59.080 --> 00:07:04.200 some of the things that I could potentially put myself at risk with and it's kind of funny 59 00:07:04.200 --> 00:07:05.200 how God works. 60 00:07:05.200 --> 00:07:08.520 I already redesigned a whole new one with my daughter like months ago, so I need to 61 00:07:08.520 --> 00:07:15.400 check that one out, and I still have the old one on my website, so I need to take that 62 00:07:15.400 --> 00:07:19.240 down and make some changes to some of the software that I'm putting out there. 63 00:07:19.240 --> 00:07:22.600 So yeah, it was huge for me. 64 00:07:22.600 --> 00:07:29.400 Yeah, it's funny you mention that because we actually had, I received feedback from 65 00:07:29.400 --> 00:07:35.320 one individual, I won't expose who she is because clearly she doesn't want to say who 66 00:07:35.320 --> 00:07:41.040 she is, but I'll mention the situation at least at a top level, and she actually reached 67 00:07:41.040 --> 00:07:47.640 out to me and told me that she had to restart her whole brand. 68 00:07:47.640 --> 00:07:52.680 She had a company I was running for a number of years, did the trademark search after I 69 00:07:52.680 --> 00:07:56.920 trained you guys on how to do trademark searches, and when she did, she found out that that 70 00:07:56.920 --> 00:08:03.160 trademark actually belonged to someone else in the same class. 71 00:08:03.160 --> 00:08:07.800 And she went, oh my gosh, I'm glad I saw this. 72 00:08:07.800 --> 00:08:13.040 And so she's actually modifying her business right now. 73 00:08:13.040 --> 00:08:17.120 And so that's why I'm glad, I'm glad that we get this opportunity to engage like this 74 00:08:17.120 --> 00:08:19.200 so that you guys learn this. 75 00:08:19.200 --> 00:08:22.760 The first thing I want to actually do with you guys is to prove to you guys that you've 76 00:08:22.760 --> 00:08:23.760 learned something. 77 00:08:23.760 --> 00:08:24.760 All right? 78 00:08:24.760 --> 00:08:28.760 Because a lot of times in these challenges, people go through and they're like, oh, this 79 00:08:28.760 --> 00:08:29.760 is nice. 80 00:08:29.760 --> 00:08:30.760 Yay. 81 00:08:30.760 --> 00:08:31.760 Ha ha. 82 00:08:31.760 --> 00:08:36.039 You know, hugs and kisses, fluffy kittens, chocolate, and like didn't learn a thing. 83 00:08:36.039 --> 00:08:37.039 Right? 84 00:08:37.280 --> 00:08:38.559 So it's kind of conversation. 85 00:08:38.559 --> 00:08:40.400 People just have conversations. 86 00:08:40.400 --> 00:08:43.840 But one of the things that's really important to me in running this challenge for all of 87 00:08:43.840 --> 00:08:52.720 you is that you come out being able to identify situations and know what exactly is the legal 88 00:08:52.720 --> 00:08:56.360 issue in that situation. 89 00:08:56.360 --> 00:09:00.080 That's one of the most important things for me, because if you're going to be a successful 90 00:09:00.080 --> 00:09:05.560 business owner or a business partner, and you see something happen, you want to go, 91 00:09:06.240 --> 00:09:09.520 you want to see, all right, your partner just hired somebody to create a new logo. 92 00:09:09.520 --> 00:09:14.240 You want to think in the back of your mind, hey, partner, did you ask them to assign our 93 00:09:14.240 --> 00:09:17.680 right title and interest to the original copyright over to us? 94 00:09:17.680 --> 00:09:22.480 Or for the logo itself, for the artwork itself, did you have them assign our right title and 95 00:09:22.480 --> 00:09:23.800 interest over to us? 96 00:09:23.800 --> 00:09:25.960 And they go, what are you talking about? 97 00:09:25.960 --> 00:09:30.520 You say, well, under intellectual property law, they actually own that logo unless they 98 00:09:30.520 --> 00:09:33.120 transfer all the right title and interest to us. 99 00:09:33.120 --> 00:09:34.960 Did you get that in writing? 100 00:09:34.960 --> 00:09:39.040 Or you paid them $4,500 for this new logo? 101 00:09:39.040 --> 00:09:41.880 And they said, well, we were just going to sign the agreement. 102 00:09:41.880 --> 00:09:45.080 And I was like, yeah, no, you're not going to sign the agreement unless you get that 103 00:09:45.080 --> 00:09:47.080 in writing. 104 00:09:47.080 --> 00:09:51.400 Those are the kind of things that I want you to be able to do, because it's just going 105 00:09:51.400 --> 00:09:54.120 to make you so successful. 106 00:09:54.120 --> 00:09:55.400 And I've seen this. 107 00:09:55.400 --> 00:10:00.000 So what I've did is you remember, I believe it was on day two, I showed you a scenario. 108 00:10:00.000 --> 00:10:04.000 scenario, right? I'm going to show you the scenario again. 109 00:10:04.000 --> 00:10:05.000 I didn't... 110 00:10:05.000 --> 00:10:07.280 I sent it to you in the chat. 111 00:10:07.280 --> 00:10:13.200 Thank you. I didn't actually restart my computer, so I'm kind of concerned if I share. Hopefully 112 00:10:13.200 --> 00:10:16.360 it doesn't freeze. We'll see. If it freezes, I'll just restart on my side. 113 00:10:16.360 --> 00:10:20.360 I have it up as well if you need a backup. 114 00:10:20.360 --> 00:10:29.960 All right, let's see. Can everybody see the scenario there? Yes, good. I usually 115 00:10:29.960 --> 00:10:35.200 restart my computer before we start the challenge so there will be no computer issues, but that 116 00:10:35.200 --> 00:10:37.520 in prayer really helps. 117 00:10:37.520 --> 00:10:43.800 This is the original scenario that I sent to all of you. Maybe I'll make it a little 118 00:10:43.800 --> 00:10:54.000 bit bigger. Let's make it 200. That's a little bigger. Can everybody see that really clearly? 119 00:10:54.000 --> 00:10:58.600 All right, so this is what we're going to do. We're going to have a little fun. I'm 120 00:10:58.600 --> 00:11:05.560 going to read lines one by one, and you are going to... We're going to do this two different 121 00:11:05.560 --> 00:11:10.680 ways. You can either type in the chat what area of intellectual property law pertains 122 00:11:10.680 --> 00:11:15.960 to this, or you can speak it out loud. You can unmute yourself because we only... I think 123 00:11:15.960 --> 00:11:23.160 we have like 20 people total. It shouldn't be that bad. We can unmute and let people 124 00:11:23.320 --> 00:11:29.320 communicate. Just so you guys know, day five is usually just... We just summarize things, 125 00:11:29.320 --> 00:11:36.440 have fun, answer a few questions, and we close. We usually end the VIP very early. In this session, 126 00:11:36.440 --> 00:11:44.040 we usually go close to the end, but we close a little early as well. All right, so scenario. 127 00:11:44.920 --> 00:11:52.840 Sentence number one, you own a small company called Burger Town. Tell me what area of intellectual 128 00:11:52.840 --> 00:12:05.240 property law pertains to that one line. Trademark. I see trademark there. Anybody else? 129 00:12:11.160 --> 00:12:18.520 One person. Trademark. Trademark. Michelle says trademark. Maria says trademark. Okay. 130 00:12:18.520 --> 00:12:24.200 Yep, that's right. Trademark. Correct. Anders, trademark. Good. All right, next line. 131 00:12:24.200 --> 00:12:31.560 Your number one selling burger is called the Belt Buster. Okay. It's actually not a bad name, 132 00:12:32.120 --> 00:12:40.440 but I just came up with this. So what falls there? Yeah, you can be... We can actually unmute 133 00:12:40.440 --> 00:12:48.760 everybody just for this. Well, they have permission. I can't unmute everybody, but I 134 00:12:48.760 --> 00:12:55.160 could mute everybody and even you would be muted. Oh, so they all have permission though. Okay, 135 00:12:55.160 --> 00:13:00.680 good. All right. Yeah. So you can even speak out loud or you can type it either way. So the second 136 00:13:00.680 --> 00:13:06.920 one is trademark. Correct. All right. Third one. Now it gets interesting. 137 00:13:07.640 --> 00:13:15.880 You have a website advertising the company, providing a menu and describing ingredients, 138 00:13:15.880 --> 00:13:24.040 preparation techniques, and health information regarding each item on the menu. Copyright. 139 00:13:25.640 --> 00:13:35.400 Copyright. Yeah, copyright. Anything else? Property as well. What was it? 140 00:13:36.920 --> 00:13:41.320 Intellectual property as well. Well, yeah, patents, trademarks, copyrights, and trade 141 00:13:41.320 --> 00:13:47.480 secrets are all intellectual property. So which area in copyright, where do you see copyright in 142 00:13:47.480 --> 00:13:53.960 here? What do you think is protectable by copyright in here? The process, probably. 143 00:13:57.800 --> 00:14:04.760 The proprietary process. The process itself would not be protectable under copyright law. 144 00:14:04.760 --> 00:14:12.360 All right. What else do you see in there? Like advertising. 145 00:14:13.400 --> 00:14:16.840 The advertising could be protectable under copyright. What else? 146 00:14:20.200 --> 00:14:26.600 What about describing the ingredients? Describing the ingredients. If it's written down, 147 00:14:26.600 --> 00:14:33.960 that can be protected by copyright. The menu itself could be protectable by copyright. 148 00:14:34.040 --> 00:14:40.040 Oh, the techniques. All right. So let's talk about the techniques. This is tricky. I put this 149 00:14:40.040 --> 00:14:46.520 in here intentionally because it's a little tricky. So the preparation technique technically 150 00:14:46.520 --> 00:14:54.680 could be a method. If it's a method and it's protectable, that most likely would fall under 151 00:14:54.680 --> 00:15:00.440 patent law because patents allow you to protect systems. 152 00:15:00.000 --> 00:15:07.200 apparatus and methods, okay? Now, if in fact, the preparation 153 00:15:07.200 --> 00:15:11.840 techniques are written, let's say like it's just described in 154 00:15:11.840 --> 00:15:16.920 something like a cookbook, right? Or like in this case, 155 00:15:16.920 --> 00:15:21.660 like the website, if the description itself of the 156 00:15:21.660 --> 00:15:25.800 preparation technique could be protectable under copyright law, 157 00:15:26.400 --> 00:15:30.000 but the technique itself, meaning the functionality, the 158 00:15:30.000 --> 00:15:33.480 steps that are taken, those could potentially be 159 00:15:33.480 --> 00:15:38.560 protectable under patent law. That's a pretty, that's a 160 00:15:38.560 --> 00:15:44.080 pretty, a pretty fine line there. If they didn't post it 161 00:15:44.080 --> 00:15:48.560 online, they could have had a safe ticket. Yes, that's exactly 162 00:15:48.560 --> 00:15:52.480 right, Michelle. Michelle, I'm just gonna love having you in 163 00:15:52.480 --> 00:15:57.000 the Protection Portal. We were talking about you. We're like, 164 00:15:57.040 --> 00:16:00.920 yes, Michelle's in. We're gonna have a lot of fun. So I'm glad 165 00:16:00.920 --> 00:16:03.920 for everybody who's joined. We're gonna have a blast. So 166 00:16:03.920 --> 00:16:06.760 and you'll see when you get in there, the people are just, it 167 00:16:06.760 --> 00:16:10.920 gets off the hook. We have a lot of fun. So um, yeah, so 168 00:16:10.920 --> 00:16:14.840 Protection Portal, you can maintain it, the preparation 169 00:16:14.840 --> 00:16:17.520 technique, you can maintain it as your own trade secret if you 170 00:16:17.520 --> 00:16:21.760 like. That's right. Okay, now it gets more complex. So we're 171 00:16:21.760 --> 00:16:28.240 gonna take this line by line. You have a new process for 172 00:16:28.240 --> 00:16:33.720 keeping inventory of burgers prepared, and for determining 173 00:16:33.720 --> 00:16:39.720 loss of profits by using a novel pressure sensitive device 174 00:16:40.320 --> 00:16:45.880 located within a grill used for preparing burgers. All right. 175 00:16:46.600 --> 00:16:53.720 As a mouthful. What do you think, Jane? I think it's an IP. 176 00:16:55.320 --> 00:17:00.200 Yeah, definitely. IP trademarks, copyrights or patents? Which one 177 00:17:00.200 --> 00:17:05.560 jumps out at you? Patent? Yes. Very good. Very good. Alright, 178 00:17:05.560 --> 00:17:11.440 so now as a bonus for anybody who wants to share, which parts 179 00:17:11.520 --> 00:17:14.800 of this do you believe are protectable by patents? 180 00:17:19.760 --> 00:17:21.880 Determining the loss of profits. 181 00:17:23.040 --> 00:17:26.880 Alright, Jane, what'd you say? Determining loss of profits. 182 00:17:27.079 --> 00:17:31.840 Determining loss. Alright, so the process, the process that's 183 00:17:31.840 --> 00:17:36.360 used for keeping inventory of the burgers prepared and 184 00:17:36.360 --> 00:17:40.560 determining loss of profits, that most certainly might be 185 00:17:40.560 --> 00:17:44.520 protectable under patents, correct? Anything else jump out 186 00:17:44.520 --> 00:17:46.600 in here that might be protectable under patents? 187 00:17:47.360 --> 00:17:51.040 Pressure sensitive device. Pressure sensitive device. Who 188 00:17:51.040 --> 00:17:56.400 was that? Shelley. Shelley. Well done. That's, that's very good. 189 00:17:56.440 --> 00:18:01.080 Most people don't see that. That's exactly right. So you've 190 00:18:01.080 --> 00:18:06.520 actually got both the pressure sensitive device. And you've got 191 00:18:07.280 --> 00:18:10.920 the, the process itself. Both of those are potentially 192 00:18:10.920 --> 00:18:13.760 protectable. But there's, there's another thing here. 193 00:18:15.000 --> 00:18:18.360 There's another thing here. And I'm going to give you some 194 00:18:18.360 --> 00:18:21.640 insight that my clients enjoy, because, you know, this is what 195 00:18:21.640 --> 00:18:27.280 I do for a living, is that in the patent world, if you 196 00:18:27.280 --> 00:18:31.520 protect, somebody wrote software, yeah, software could 197 00:18:31.520 --> 00:18:34.840 potentially be protected. If there was, if there was software 198 00:18:34.840 --> 00:18:37.800 that actually performs this functionality, absolutely, 199 00:18:37.800 --> 00:18:41.000 Tanya, you could have a copyright for the software. 200 00:18:41.040 --> 00:18:48.680 Absolutely. Now, the pressure sensitive device, right? So 201 00:18:48.720 --> 00:18:53.720 let's, let's look at, let me see if I could find the location. 202 00:18:55.320 --> 00:18:57.440 What was that? The location? 203 00:18:59.320 --> 00:19:00.600 Location, 204 00:19:00.760 --> 00:19:03.120 because it says, it's located, 205 00:19:03.480 --> 00:19:07.960 it kind of alludes to that. So I'll show you what I mean. I had 206 00:19:07.960 --> 00:19:10.160 to sniff my thermos and make sure there was only water in 207 00:19:10.160 --> 00:19:12.560 there. If I would have passed out, you would have known it 208 00:19:12.560 --> 00:19:19.000 wasn't just water. It's so we're safe. Okay, so all right. Right 209 00:19:19.000 --> 00:19:21.920 here, I have in front of you a cap, and I have a thermos, 210 00:19:21.960 --> 00:19:26.400 right? So if somebody came out with a new cap, you could 211 00:19:26.400 --> 00:19:31.080 protect the cap alone. But here's a secret to making tons 212 00:19:31.080 --> 00:19:36.520 of money with patents, okay? Remember, with patents, you make 213 00:19:36.520 --> 00:19:40.360 money based on the damages for whatever's protected. If you 214 00:19:40.360 --> 00:19:45.680 own only the cap, the cap might be worth like $4, $3, right? 215 00:19:46.080 --> 00:19:49.920 But you put this cap on the thermos. Now you've got a 216 00:19:49.920 --> 00:19:54.520 thermos with a new cap, which has a higher value of let's say 217 00:19:54.520 --> 00:19:59.560 like $25. Okay. So what you want to do is protect not just the 218 00:19:59.560 --> 00:20:00.040 cap. 219 00:20:00.000 --> 00:20:08.080 But you want to separately protect both the cap and the thermos. 220 00:20:08.080 --> 00:20:17.120 This is really detailed kind of strategy. 221 00:20:17.120 --> 00:20:24.040 I had a client, do you guys remember the company Charbroil, anybody remember that company? 222 00:20:24.040 --> 00:20:27.880 That was one of my clients, it actually wasn't my direct client, it was a client of I believe 223 00:20:27.880 --> 00:20:34.240 Jim Caden, and I did some patent work for them when I was in Atlanta, Georgia at a law 224 00:20:34.240 --> 00:20:37.920 firm called Thomas Caden, Horst & Meyer & Risley. 225 00:20:37.920 --> 00:20:45.360 Now they had a clip, they had a clip that was used to connect the glass to the hood 226 00:20:45.360 --> 00:20:51.160 of the barbecue, so they had a brand new clip. 227 00:20:51.160 --> 00:20:57.000 What we did was we filed patents not just on the clip, but we filed patents on a hood 228 00:20:57.480 --> 00:21:00.600 having the clip holding the glass. 229 00:21:00.600 --> 00:21:08.320 Then we filed claims on a barbecue having a hood with glass being held on the hood using 230 00:21:08.320 --> 00:21:11.640 these new clips. 231 00:21:11.640 --> 00:21:18.080 The reason why we did that is now if there was a single infringement, it was for a $2,000 232 00:21:18.080 --> 00:21:22.520 barbecue versus a $0.25 clip. 233 00:21:22.520 --> 00:21:24.080 You see the difference? 234 00:21:24.320 --> 00:21:32.440 When you write patents, think damages, always think damages, if somebody infringes this, 235 00:21:32.440 --> 00:21:36.440 what essentially would they owe? 236 00:21:36.440 --> 00:21:44.000 If what you create is actually part of something else, then make sure you protect your thing 237 00:21:44.000 --> 00:21:49.760 alone, but also it in the environment that it's used if possible. 238 00:21:49.760 --> 00:21:53.400 That's going to make your patent exponentially more powerful. 239 00:21:53.440 --> 00:21:58.280 It's going to make you way more in licensing, and it's going to bring the bigger companies 240 00:21:58.280 --> 00:22:00.360 to the table with you. 241 00:22:00.360 --> 00:22:02.840 That is just looking at that first sentence. 242 00:22:02.840 --> 00:22:10.440 The next sentence says, the burger is placed on an indented surface of the grill during 243 00:22:10.440 --> 00:22:12.240 cooking. 244 00:22:12.240 --> 00:22:19.240 The indented surface has a pressure sensitive switch that is thrown when the weight of a 245 00:22:19.240 --> 00:22:22.520 burger is detected. 246 00:22:22.520 --> 00:22:30.160 Tell me what's protectable there in those two sentences. 247 00:22:30.160 --> 00:22:34.880 The indented surface of the grill and then the pressure sensitive switch. 248 00:22:34.880 --> 00:22:35.880 Absolutely. 249 00:22:35.880 --> 00:22:43.280 Those two components should be part of the patent, should be in there. 250 00:22:43.280 --> 00:22:44.280 Next part is- 251 00:22:44.280 --> 00:22:50.640 What happens if somebody else already has the patent on the indented surface? 252 00:22:50.640 --> 00:22:52.120 Great question. 253 00:22:52.120 --> 00:22:53.120 We're going to address that. 254 00:22:53.120 --> 00:22:56.040 The second we're done with this, we're going to address that. 255 00:22:56.040 --> 00:22:57.040 That's a great question. 256 00:22:57.040 --> 00:23:06.960 The next line says, software within a computer is capable of comparing the number of detected 257 00:23:06.960 --> 00:23:16.520 burgers to actual sale of burgers to determine how many cooked burgers were never sold. 258 00:23:16.520 --> 00:23:21.040 As an example, they were burned, dropped, free replacements were provided, or they were 259 00:23:21.040 --> 00:23:25.200 claimed as a working benefit by a disgruntled employee. 260 00:23:25.200 --> 00:23:29.360 Any guys that fall into that category like me when we worked in restaurants, we're like, 261 00:23:29.360 --> 00:23:30.360 yeah. 262 00:23:30.360 --> 00:23:31.360 Probably wasn't a good thing. 263 00:23:31.360 --> 00:23:35.680 Technically it was stealing, but we took it as a fringe benefit of working there, right? 264 00:23:35.680 --> 00:23:38.320 The leftover food. 265 00:23:38.320 --> 00:23:43.240 So software, what do we have? 266 00:23:43.240 --> 00:23:44.240 The software, right. 267 00:23:44.240 --> 00:23:45.240 What- 268 00:23:45.240 --> 00:23:48.560 Computer. 269 00:23:48.560 --> 00:23:51.920 So the software itself is within the computer. 270 00:23:51.920 --> 00:23:52.920 Absolutely. 271 00:23:52.920 --> 00:23:58.720 We could protect the computer having the software, yep, absolutely. 272 00:23:58.720 --> 00:24:06.360 That functionality associated with the comparing of the number of burgers to the number that 273 00:24:06.360 --> 00:24:11.600 were sold, that process may be protectable. 274 00:24:11.600 --> 00:24:16.600 So think of it this way, indented surface, you drop the patty on it. 275 00:24:16.600 --> 00:24:23.360 The weight of the patty makes this little thing in there flip. 276 00:24:23.360 --> 00:24:25.920 So now there's this internal switch. 277 00:24:25.920 --> 00:24:29.760 Computer software detects, oh, burger just went on the grill. 278 00:24:29.760 --> 00:24:35.640 Now it looks and it says, okay, what it is, we're going to start this process at one o'clock. 279 00:24:35.640 --> 00:24:38.240 It's going to go till 12 o'clock midnight. 280 00:24:38.240 --> 00:24:47.040 So now it knows just how many times a burger was dropped on the things, it knows, right? 281 00:24:47.040 --> 00:24:52.560 So now it takes that and it compares it to on your cash register, how many times you 282 00:24:52.560 --> 00:24:56.960 selected hamburger and rung up the cost. 283 00:24:56.960 --> 00:24:58.880 And it sees 200 burgers, 100 burgers. 284 00:25:00.000 --> 00:25:03.200 393 burgers were charged for. 285 00:25:03.200 --> 00:25:07.160 That means seven burgers something happened to. 286 00:25:07.160 --> 00:25:11.480 That might be valuable to a large business, right? 287 00:25:11.480 --> 00:25:14.000 That's sending out thousands of burgers 288 00:25:14.000 --> 00:25:16.680 like McDonald's, like Burger King. 289 00:25:16.680 --> 00:25:18.720 It may be beneficial for them to know 290 00:25:18.720 --> 00:25:23.480 just how many burgers are either being eaten by employees, 291 00:25:23.480 --> 00:25:25.800 thrown out because somebody is really clumsy 292 00:25:25.800 --> 00:25:28.520 or burned and thrown out, whatever the case may be. 293 00:25:29.280 --> 00:25:32.040 You know, if you've got a 20% inventory loss 294 00:25:32.040 --> 00:25:33.840 because somebody is doing something wrong, 295 00:25:33.840 --> 00:25:35.480 you wanna know that. 296 00:25:35.480 --> 00:25:38.160 And so this system here could potentially help 297 00:25:38.160 --> 00:25:41.160 a company save tens to hundreds of thousands 298 00:25:41.160 --> 00:25:42.960 of dollars a year, right? 299 00:25:42.960 --> 00:25:46.720 So they would protect the software. 300 00:25:46.720 --> 00:25:49.160 They could protect the grill. 301 00:25:49.160 --> 00:25:51.720 You know, a grill that actually has indented surfaces 302 00:25:51.720 --> 00:25:53.920 with this kind of switch inside of it. 303 00:25:55.080 --> 00:25:57.040 They could protect the name. 304 00:25:57.040 --> 00:25:59.280 They could protect the menus. 305 00:26:00.240 --> 00:26:02.480 But separately, they also sell a new drink 306 00:26:02.480 --> 00:26:04.720 called Hungry that everyone loves 307 00:26:04.720 --> 00:26:07.160 and nobody knows how to replicate. 308 00:26:07.160 --> 00:26:10.360 What area of IP does that pertain to? 309 00:26:10.360 --> 00:26:12.600 So this one would be a trade secret then 310 00:26:12.600 --> 00:26:13.520 if no one knows how to- 311 00:26:13.520 --> 00:26:14.720 Exactly. 312 00:26:14.720 --> 00:26:17.160 That's right, trade secret. 313 00:26:17.160 --> 00:26:21.080 Plus on top of that, you have the trademark itself 314 00:26:21.080 --> 00:26:22.040 which is the name. 315 00:26:23.720 --> 00:26:26.160 Nobody knows how to make it, 316 00:26:26.240 --> 00:26:27.600 but at the same time, it has a name. 317 00:26:27.600 --> 00:26:29.200 So the trademark covers the name 318 00:26:30.080 --> 00:26:33.640 and the trade secret covers the formula 319 00:26:33.640 --> 00:26:35.680 that's used to make this thing. 320 00:26:35.680 --> 00:26:37.600 So you guys should give yourselves a hand 321 00:26:37.600 --> 00:26:40.760 because you guys just covered every area of IP 322 00:26:40.760 --> 00:26:42.760 through this one scenario. 323 00:26:42.760 --> 00:26:43.600 Well done. 324 00:26:43.600 --> 00:26:46.480 You guys have learned how to identify 325 00:26:46.480 --> 00:26:49.240 intellectual property law issues 326 00:26:49.240 --> 00:26:51.360 just by looking at real life scenarios, 327 00:26:51.360 --> 00:26:53.760 real life situations, okay? 328 00:26:53.760 --> 00:26:57.520 Now, Anthony asked a good question. 329 00:26:57.520 --> 00:26:59.280 And his question was, 330 00:26:59.280 --> 00:27:03.120 well, what if the indented surface grill 331 00:27:03.120 --> 00:27:04.960 actually belongs to somebody else? 332 00:27:04.960 --> 00:27:06.600 What do you do, right? 333 00:27:06.600 --> 00:27:08.920 What if there's a patent on that? 334 00:27:08.920 --> 00:27:11.600 Well, this is why you do patent searches 335 00:27:11.600 --> 00:27:13.280 when you have a new technology. 336 00:27:13.280 --> 00:27:14.440 So you get a new technology, 337 00:27:14.440 --> 00:27:15.920 you go and do a patent search and you go, 338 00:27:15.920 --> 00:27:20.800 oh my gosh, Todd Engwall actually owns 339 00:27:20.800 --> 00:27:23.480 grill surfaces with indented surfaces. 340 00:27:24.080 --> 00:27:26.200 Oh man, what do I do? 341 00:27:26.200 --> 00:27:27.400 Now, I don't know what to do. 342 00:27:27.400 --> 00:27:28.520 Maybe I should throw it out. 343 00:27:28.520 --> 00:27:30.360 Like nothing I can do, it's over. 344 00:27:30.360 --> 00:27:31.520 No, you don't do that. 345 00:27:31.520 --> 00:27:33.560 What you do is you research the guy 346 00:27:33.560 --> 00:27:35.320 and you're like, oh, this guy is pretty cool. 347 00:27:35.320 --> 00:27:37.080 He's a pretty nice guy. 348 00:27:37.080 --> 00:27:38.160 He's a family guy. 349 00:27:38.160 --> 00:27:39.000 He helps out. 350 00:27:39.000 --> 00:27:40.280 He does ministry. 351 00:27:40.280 --> 00:27:42.040 He helps businesses for a living. 352 00:27:42.040 --> 00:27:44.480 He travels to Africa, right? 353 00:27:44.480 --> 00:27:48.560 He like, he saved the last white rhino 354 00:27:48.560 --> 00:27:50.080 that was going through extinction 355 00:27:50.080 --> 00:27:51.440 by lifting it up with his hands 356 00:27:51.440 --> 00:27:54.080 and bringing it to water and bathing it himself. 357 00:27:54.080 --> 00:27:56.360 Like this man's incredible, right? 358 00:27:56.360 --> 00:27:58.320 So you call him up and you say, 359 00:27:58.320 --> 00:28:03.320 hey, I'm potentially going to be doing a business venture. 360 00:28:05.480 --> 00:28:08.480 I really could use a grill surface 361 00:28:08.480 --> 00:28:10.800 that is very similar to the one 362 00:28:10.800 --> 00:28:12.440 that you have in your patent. 363 00:28:12.440 --> 00:28:14.240 Would you be willing to license it? 364 00:28:14.240 --> 00:28:17.520 Or would you be willing to do a joint deal with me? 365 00:28:18.440 --> 00:28:22.840 You know, you provide the indented surfaces for grills 366 00:28:22.840 --> 00:28:25.160 and you take 10% of the profits 367 00:28:25.160 --> 00:28:26.760 or something like that, right? 368 00:28:26.760 --> 00:28:28.440 Whatever the case may be, you may tell him, 369 00:28:28.440 --> 00:28:30.880 look, I've got a new software program 370 00:28:30.880 --> 00:28:35.000 that is going to make your surface worth tons more. 371 00:28:36.120 --> 00:28:37.160 And he might be curious. 372 00:28:37.160 --> 00:28:38.280 But what you want to do 373 00:28:38.280 --> 00:28:40.800 before you actually have that meeting 374 00:28:40.800 --> 00:28:43.720 is what do you want to have in place? 375 00:28:43.720 --> 00:28:45.080 Somebody type in the chat, 376 00:28:45.080 --> 00:28:46.800 what do you want to have in place 377 00:28:46.800 --> 00:28:48.280 before you have that meeting? 378 00:28:52.520 --> 00:28:55.440 Is a little tricky, but I think you guys will know. 379 00:28:56.800 --> 00:28:58.240 Copyright on the rest of it? 380 00:29:00.600 --> 00:29:01.920 The rest of the idea? 381 00:29:01.920 --> 00:29:04.440 The patent, the patent, yes. 382 00:29:04.440 --> 00:29:06.320 Somebody wrote patents. 383 00:29:06.320 --> 00:29:09.120 Another person wrote NDA. 384 00:29:09.120 --> 00:29:11.000 Yes, on both of those. 385 00:29:11.000 --> 00:29:16.000 Copyright, it's possible, yeah. 386 00:29:16.440 --> 00:29:18.360 Copyright as well. 387 00:29:18.360 --> 00:29:20.240 Remember, for copyrights, 388 00:29:20.240 --> 00:29:22.400 you automatically have legal rights. 389 00:29:22.400 --> 00:29:24.600 It would be beneficial to have the copyright in place 390 00:29:24.600 --> 00:29:25.600 because then you could tell him, 391 00:29:25.600 --> 00:29:30.600 I got a federal registration for my menus 392 00:29:30.720 --> 00:29:31.920 and stuff like that. 393 00:29:31.920 --> 00:29:33.600 But like in this meeting, 394 00:29:33.600 --> 00:29:35.920 what you're really going to be talking about is 395 00:29:35.920 --> 00:29:40.040 how does his surface fit into your software program 396 00:29:40.040 --> 00:29:42.160 and your process? 397 00:29:42.160 --> 00:29:44.600 So you're going to want your process 398 00:29:44.640 --> 00:29:48.040 to either have like a provisional patent on it or something 399 00:29:48.040 --> 00:29:50.080 because you're going to be disclosing this to another person. 400 00:29:50.080 --> 00:29:52.280 It'd be best if you don't. 401 00:29:52.280 --> 00:29:56.240 You don't disclose it without some kind of protection. 402 00:29:56.240 --> 00:29:57.520 But then separate from that, 403 00:29:57.520 --> 00:30:00.240 absolutely non-disclosure agreement, absolutely. 404 00:30:00.000 --> 00:30:10.320 right? And I would go a step further. I would have a non-compete, if you can get it. Because 405 00:30:11.600 --> 00:30:15.520 once I go and I meet with Todd, even though Todd's not like this, I know Todd personally, 406 00:30:15.520 --> 00:30:24.880 and I know his wife, Tamara, and amazing people. But if Todd wasn't the way that Todd truly is, 407 00:30:25.440 --> 00:30:30.880 then Todd might hear this thing and go, man, you know what? I'm not going to disclose it to 408 00:30:30.880 --> 00:30:35.840 anybody, but I'm going to use it. I'm not going to tell other people about it, but 409 00:30:36.400 --> 00:30:41.920 this is a great idea. I'll use it, right? But if you have a non-compete in place, he can't use it 410 00:30:41.920 --> 00:30:46.800 because he can't compete against you. So this is why you want a non-disclosure and a non-compete 411 00:30:46.800 --> 00:30:59.920 in place. Really helpful. And I'm going to, man, should I do this? Should I do this? 412 00:31:00.640 --> 00:31:01.440 What are you up to? 413 00:31:07.360 --> 00:31:10.080 Who here doesn't know what a non-compete provision is? 414 00:31:10.080 --> 00:31:25.440 Okay. All right. So I think what we're going to do is in the next protection portal, Ray, 415 00:31:26.000 --> 00:31:30.800 can you just shoot me a note? I'm going to drop a non-compete provision to the whole group. 416 00:31:31.600 --> 00:31:33.520 Sure. All right. So I'm going to give 417 00:31:33.520 --> 00:31:42.240 them the legal language to use in there. Yeah. So non-competes can be really complex. 418 00:31:43.840 --> 00:31:48.000 Usually they're connected to what's called confidential information. So you have 419 00:31:48.000 --> 00:31:53.120 a provision in the non-disclosure agreement and the non-compete agreement that says what 420 00:31:53.120 --> 00:31:59.440 confidential information is, but then you actually have a clause that talks about, 421 00:32:00.240 --> 00:32:06.640 that says another party is not able to use that confidential information in certain ways. And 422 00:32:06.640 --> 00:32:12.000 that's where the non-compete provision comes in. So what I'm going to do is I'm going to, 423 00:32:12.000 --> 00:32:18.720 and this is not going to be legal advice, not legal advice, but I'm going to put 424 00:32:20.400 --> 00:32:24.240 in the protection portal, the next session that takes place 425 00:32:25.200 --> 00:32:33.200 on the 14th, I'm going to drop what a non-compete provision looks like. So people will actually be 426 00:32:33.200 --> 00:32:38.400 able to identify it. Michelle. Yes, my friend. Hey, where's your husband? 427 00:32:41.200 --> 00:32:46.320 He's watching my son. He is? I want to meet him. I totally want to meet Christian. That'd be 428 00:32:46.320 --> 00:32:50.880 awesome. He's cool. He's really cool. I will, um, 429 00:32:51.120 --> 00:32:56.000 but no, I have a question that with regards to non-compete is, this is the first time I'm really 430 00:32:56.000 --> 00:33:01.120 like exploring this. So I'm just wondering, is it just like a fine if they break it or is it like, 431 00:33:01.120 --> 00:33:06.160 are you talking like jail time? Like what would be the, um, like, is it kind of like a, so what? 432 00:33:06.160 --> 00:33:11.600 Like, so yeah. Okay. It's nice that you, that we signed off on that, but like, how much can you 433 00:33:11.600 --> 00:33:17.520 really prevent someone from not competing with you? It's violation of a code of conduct. 434 00:33:17.520 --> 00:33:24.320 From not competing with you. It's violation of a contractual agreement. So it's actually, 435 00:33:24.320 --> 00:33:30.640 it's, it's a legal doc. It's a legal contract that you have with another party. And if they violate 436 00:33:30.640 --> 00:33:35.840 that legal contract, then what you're doing is an assessment of the damages that you have incurred 437 00:33:36.800 --> 00:33:42.480 because they violated that agreement. So let's say, let's say you have a non-disclosure agreement 438 00:33:43.440 --> 00:33:48.640 and the person, so I have a non-disclosure agreement. I meet with Larissa. Larissa says, 439 00:33:48.640 --> 00:33:54.400 man, that's a great idea. She posted to her family group, right? She's like, Hey, family 440 00:33:54.400 --> 00:33:59.840 group, check this out. And even though she signed a non-disclosure agreement, right? Members of the 441 00:33:59.840 --> 00:34:07.040 family group go and talk to other people and they put it on Facebook. It's gone. Now it's everywhere. 442 00:34:07.120 --> 00:34:12.000 Like that thing has gone everywhere. So if I had a certain way of doing something, 443 00:34:12.000 --> 00:34:16.800 nobody knew about it. Now the public knows about it. And let's say there's competition. That's 444 00:34:16.800 --> 00:34:22.000 phasing me out. Now those damages I'm going to argue are going to be because of Larissa 445 00:34:22.560 --> 00:34:31.840 and her actions. And so in the actual, in the actual legal, in the actual legal proceedings, 446 00:34:31.840 --> 00:34:37.840 I'm going to say, this is a violation of a contract, namely in a non-disclosure agreement, 447 00:34:37.840 --> 00:34:44.880 but the damages are all the clients that I lost and all the money that these other guys are making. 448 00:34:45.840 --> 00:34:49.679 And I'm going to, and I'm going to argue that, you know, I should be getting paid 449 00:34:51.199 --> 00:34:55.840 some kind of comparable amount. Now you can't, one thing you can't do is you can't double up 450 00:34:55.840 --> 00:34:59.760 in damages. Like you can't say, well, I lost this much and that. 451 00:35:00.000 --> 00:35:05.040 person made that much. If the amount that they made is the amount that you lost, you can't double 452 00:35:05.040 --> 00:35:10.960 it. If I lost half a million dollars and they gain half a million dollars, I can't say, 453 00:35:11.600 --> 00:35:15.840 well, I want to combine how much they made with how much I lost. That would be a million dollars. 454 00:35:17.040 --> 00:35:22.960 That's not making you whole, that's making you super whole. That's not going to work. For that 455 00:35:22.960 --> 00:35:30.160 reason, you really just get one of those, either the amount that you lost or the amount that the 456 00:35:30.160 --> 00:35:38.720 other person gains. Let's see. Double dipping. Yeah, exactly. That's double dipping. Does that 457 00:35:38.720 --> 00:35:44.880 make sense? That's how these things are enforced, is that they're enforced under contract law. 458 00:35:45.360 --> 00:35:53.520 All right. With this, I alluded, I'm going to mention one more thing in IP. I want to mention 459 00:35:53.520 --> 00:35:58.000 something for you guys, because as you know, the foundations and IP package closed last night at 460 00:35:58.000 --> 00:36:02.080 midnight. There are a few people that wanted to talk about some things and I touched base with 461 00:36:02.080 --> 00:36:10.080 them, but that's something separate. Some of you actually wanted to go into the protection portal 462 00:36:10.080 --> 00:36:17.920 alone, meaning you're not doing an audit, you don't have a business, but you want to keep this 463 00:36:17.920 --> 00:36:22.080 going. You want to keep asking questions. You want to be in a group environment. You want to continue 464 00:36:22.080 --> 00:36:28.400 to grow. You want to actually make money off of people you refer to this challenge, make the 465 00:36:28.400 --> 00:36:36.000 percentages off of that. Also be able to work with other attorneys that are within my network. 466 00:36:36.000 --> 00:36:45.360 That's the protection portal package. What we decided to do was to provide, since the audit 467 00:36:45.360 --> 00:36:50.880 is over, that's done. It's not available anymore, because that's already ridiculously discounted, 468 00:36:50.880 --> 00:36:57.040 as you saw in the value. Those of you that took advantage of it, congratulations. That's awesome. 469 00:36:57.040 --> 00:37:02.240 We're going to have a blast together. It's going to be a lot of fun, but there are others that just 470 00:37:02.240 --> 00:37:08.480 want to stay in this environment and want to grow. We have the protection portal package. 471 00:37:09.360 --> 00:37:15.200 That is $24.95. That's going to be open until, what is it, Wednesday? 472 00:37:17.040 --> 00:37:20.320 Wednesday. We're going to leave the door open for that package. 473 00:37:21.200 --> 00:37:27.040 Now, you can do that one of two ways. You can either pay $24.95 upfront, or you can do three 474 00:37:27.120 --> 00:37:32.960 payments of $9.95. It costs more if you do more payments, because we get charged more by Stripe. 475 00:37:35.440 --> 00:37:42.160 That's the outfitter that we use. With that being the case, if you have any questions on that, 476 00:37:42.160 --> 00:37:47.360 just let us know. Just drop the link for that, Ray. Just so people know, we can only take, 477 00:37:48.160 --> 00:37:54.000 I think it's 12 more people, because we're not going to be over 100 people in that group. I 478 00:37:54.160 --> 00:38:01.360 can take up to 12 people total. Then we have to start a separate group. We can take up to 12 479 00:38:01.360 --> 00:38:07.760 total. That's open until Wednesday. Obviously, everybody who actually took the foundations and 480 00:38:07.760 --> 00:38:13.760 IP package, you're already in. We threw it in for free, because that would have been an extra 481 00:38:13.760 --> 00:38:19.680 expense on top of that. We just gave you that. Todd's actually in there. There's other people 482 00:38:20.320 --> 00:38:27.360 who have been here, who are in there as well. It's a blast. We have a great time. Companies 483 00:38:27.360 --> 00:38:31.840 are growing. Everybody's doing really well without obtaining legal advice, but getting 484 00:38:31.840 --> 00:38:38.320 legal guidance. If you have any questions on that, just let me know. Happy to help you out. 485 00:38:40.400 --> 00:38:43.760 That's very reasonable, because it's just $1,000 a month. You'll be fine. 486 00:38:44.480 --> 00:38:52.240 One last thing on the IP side. Then I'll see if anybody has any questions, 487 00:38:52.240 --> 00:38:56.000 and then we're going to close. Here's the thing. 488 00:38:58.320 --> 00:39:04.480 If you're trying to license your trademark, or license your copyright, or license your patent, 489 00:39:07.120 --> 00:39:10.160 if you don't have any substantial legal rights yet, 490 00:39:11.120 --> 00:39:16.640 then what you can do is something called, man, this is a little complex, but I'll mention it 491 00:39:16.640 --> 00:39:24.800 to you guys anyway. Just remember this language. It's called a stepped license. S-T-E-P-P-E-D 492 00:39:25.520 --> 00:39:33.120 license. Stepped license. That's all you need to remember. If you have a pending patent application, 493 00:39:33.120 --> 00:39:38.160 you don't have an issue patent yet, but you want to license it now, ask your attorney about a step 494 00:39:38.400 --> 00:39:48.080 license. The way that they work is that there's a royalty rate now, but when you obtain the legal 495 00:39:48.080 --> 00:39:55.600 rights, the rate will change. That's why it's called a step license. Step licenses also work 496 00:39:55.600 --> 00:40:00.000 if you say, if I sell 2,000 units, the royalty 497 00:40:00.000 --> 00:40:03.000 T's are this, but if I sell 10,000 units, 498 00:40:03.000 --> 00:40:04.760 the royalties are that. 499 00:40:04.760 --> 00:40:08.180 So that again, it's a step license. 500 00:40:08.180 --> 00:40:10.480 And then in license agreements, 501 00:40:10.480 --> 00:40:13.040 remember if you're getting a license from somebody else 502 00:40:13.040 --> 00:40:16.760 or somebody is taking a license to what you have, 503 00:40:16.760 --> 00:40:18.600 you can make money multiple ways. 504 00:40:18.600 --> 00:40:20.220 You can get an upfront amount, 505 00:40:21.680 --> 00:40:25.420 you can get a royalty stream, or you can get both. 506 00:40:26.640 --> 00:40:29.240 Guys, there's nothing stopping you from doing both. 507 00:40:29.280 --> 00:40:32.040 You're gonna say, look, I want $10,000 upfront, 508 00:40:32.040 --> 00:40:36.240 plus I want 4% of your profits, 509 00:40:39.960 --> 00:40:42.800 4% of your profits a month. 510 00:40:42.800 --> 00:40:45.560 Well, you can do all sorts of really cool things 511 00:40:45.560 --> 00:40:46.960 with a license. 512 00:40:46.960 --> 00:40:49.680 There is no limit to what you can do 513 00:40:49.680 --> 00:40:51.040 in a license agreement. 514 00:40:52.180 --> 00:40:53.620 It's just up to you. 515 00:40:54.720 --> 00:40:58.720 So just keep that in mind because a lot of people 516 00:40:58.720 --> 00:41:00.440 don't understand how to work with licenses. 517 00:41:00.440 --> 00:41:01.860 And so they get really lost 518 00:41:01.860 --> 00:41:04.040 and they end up losing a lot of money, 519 00:41:04.040 --> 00:41:06.200 which is kind of unfortunate. 520 00:41:06.200 --> 00:41:09.320 And I just rather you guys don't run into that problem. 521 00:41:09.320 --> 00:41:12.820 So that should actually alleviate that. 522 00:41:13.700 --> 00:41:17.460 And then finally, I think we'll close here. 523 00:41:20.080 --> 00:41:22.740 Let me see if I should go over this. 524 00:41:23.820 --> 00:41:25.100 Yeah, I'll go over this. 525 00:41:25.980 --> 00:41:28.400 Okay, let me cover this real fast. 526 00:41:29.320 --> 00:41:33.480 Of the people here, how many people here have customers, 527 00:41:33.480 --> 00:41:35.800 clients that are in foreign countries? 528 00:41:35.800 --> 00:41:37.240 Let's probably show our hands. 529 00:41:38.320 --> 00:41:39.720 All right, we have a number of you. 530 00:41:39.720 --> 00:41:41.200 Okay, all right. 531 00:41:42.880 --> 00:41:47.200 Remember that there's no such thing as a global patent. 532 00:41:47.200 --> 00:41:50.840 It doesn't exist, okay? 533 00:41:50.840 --> 00:41:55.840 So what that means is that if you obtain IP rights 534 00:41:56.080 --> 00:41:59.620 in the United States, you can then later obtain legal rights 535 00:41:59.620 --> 00:42:01.260 in a foreign country, okay? 536 00:42:02.580 --> 00:42:07.240 Just remember that your legal rights in the United States 537 00:42:07.240 --> 00:42:12.240 will only give you the legal rights here, 538 00:42:12.840 --> 00:42:15.200 here, like nowhere else. 539 00:42:15.200 --> 00:42:17.320 I've seen people, why am I mentioning this? 540 00:42:17.320 --> 00:42:18.800 So why is this so important? 541 00:42:18.800 --> 00:42:21.800 I've seen people get legal rights in the United States, 542 00:42:21.800 --> 00:42:23.640 see somebody manufacturing in China 543 00:42:23.640 --> 00:42:24.720 and then try to stop them, 544 00:42:24.720 --> 00:42:27.480 but they have no rights in country of China, 545 00:42:27.480 --> 00:42:29.160 so they can't do anything. 546 00:42:29.160 --> 00:42:32.660 But here's the strategy that you use, okay? 547 00:42:32.660 --> 00:42:34.460 Let's assume that you're selling product 548 00:42:34.460 --> 00:42:36.120 in seven different countries, 549 00:42:36.120 --> 00:42:41.120 and you can't afford to file patents in seven countries. 550 00:42:41.280 --> 00:42:43.240 All right, most people can't afford that 551 00:42:43.240 --> 00:42:45.140 until they get bigger, okay? 552 00:42:45.140 --> 00:42:47.160 This is what you do, all right? 553 00:42:47.160 --> 00:42:49.740 And this is probably the last one. 554 00:42:49.740 --> 00:42:51.780 This is not legal advice, okay? 555 00:42:51.780 --> 00:42:53.080 This is really important. 556 00:42:55.080 --> 00:42:56.800 This is what you do. 557 00:42:56.800 --> 00:42:58.440 This is the strategy that's used. 558 00:42:59.560 --> 00:43:02.080 You look to see where is the product 559 00:43:02.080 --> 00:43:03.940 most likely gonna be manufactured. 560 00:43:05.780 --> 00:43:07.880 So you look at manufacturing, 561 00:43:07.880 --> 00:43:11.100 you look at where is the product 562 00:43:11.100 --> 00:43:14.920 most likely going to be sold, okay? 563 00:43:14.920 --> 00:43:19.920 So manufacturing and sales, those are your big things, okay? 564 00:43:20.880 --> 00:43:24.280 If you cannot afford to obtain legal rights 565 00:43:24.880 --> 00:43:26.480 in all these different countries, 566 00:43:26.480 --> 00:43:29.160 then what you might wanna do is just get the legal rights 567 00:43:29.160 --> 00:43:31.060 in the country where it's always sold. 568 00:43:33.000 --> 00:43:34.940 The reason why it's important is then 569 00:43:34.940 --> 00:43:36.600 who cares where it's manufactured? 570 00:43:36.600 --> 00:43:38.040 They'll never make any money. 571 00:43:38.040 --> 00:43:40.760 So why in the world are they going to manufacture something 572 00:43:40.760 --> 00:43:42.000 that they can't sell? 573 00:43:43.840 --> 00:43:46.440 So you may not be able to get the legal rights 574 00:43:46.440 --> 00:43:48.240 in every country where it's manufactured 575 00:43:48.240 --> 00:43:50.040 and every country where it's sold, 576 00:43:50.040 --> 00:43:53.440 but if you at least obtain the legal rights where it's sold, 577 00:43:54.520 --> 00:43:56.720 then who cares where it's manufactured? 578 00:43:58.200 --> 00:44:00.240 Because they'll never be able to sell it. 579 00:44:01.300 --> 00:44:04.720 So let's say the United States and Germany 580 00:44:04.720 --> 00:44:06.540 are the two biggest markets, 581 00:44:08.620 --> 00:44:11.400 but you know that manufacturing is done in Indonesia, 582 00:44:11.400 --> 00:44:15.600 in China, and let's say even in the United States, 583 00:44:15.600 --> 00:44:19.960 in California, then what you do is you have legal rights 584 00:44:19.960 --> 00:44:21.100 in the United States. 585 00:44:22.100 --> 00:44:23.940 If the number one place of sales 586 00:44:23.940 --> 00:44:26.580 is the United States and Germany, 587 00:44:26.580 --> 00:44:29.340 you get rights in the United States and Germany, 588 00:44:29.340 --> 00:44:31.300 I don't care if they're manufacturing in Indonesia 589 00:44:31.300 --> 00:44:33.260 and China, they're gonna make no money. 590 00:44:34.320 --> 00:44:36.460 You basically just saved 591 00:44:39.540 --> 00:44:41.660 about $14,000 592 00:44:43.940 --> 00:44:45.580 by making that one decision. 593 00:44:46.580 --> 00:44:50.480 Because in China, when you file an application, 594 00:44:51.700 --> 00:44:53.460 you have to get translations, 595 00:44:54.580 --> 00:44:56.580 so the document has to be translated. 596 00:44:56.580 --> 00:45:00.100 And in fact, if you try to get rights in Japan, 597 00:45:00.000 --> 00:45:06.920 You've got to have to translate it into hiragana and kanakana on top of that, like, it costs 598 00:45:06.920 --> 00:45:09.640 a lot of money. 599 00:45:09.640 --> 00:45:12.960 So if you know that the biggest markets are Germany and United States, get your legal 600 00:45:12.960 --> 00:45:16.080 rights in Germany and the United States and then be done. 601 00:45:16.080 --> 00:45:17.080 That's it. 602 00:45:17.080 --> 00:45:18.240 Call it quits. 603 00:45:18.240 --> 00:45:19.240 Save your money. 604 00:45:19.240 --> 00:45:23.200 Now, you might get upset, oh my gosh, they're manufacturing China and manufacturing China. 605 00:45:23.200 --> 00:45:26.720 Yeah, but you're not losing anything. 606 00:45:26.720 --> 00:45:29.080 You're not you're not losing any money. 607 00:45:29.480 --> 00:45:35.760 OK, so I just wanted to give you that one piece of advice, because. 608 00:45:35.760 --> 00:45:36.760 That wasn't legal advice. 609 00:45:36.760 --> 00:45:42.440 There's one piece of general advice, general random advice that was generally random rant. 610 00:45:42.440 --> 00:45:44.560 I was just speaking out loud advice. 611 00:45:44.560 --> 00:45:45.560 That's it. 612 00:45:45.560 --> 00:45:46.560 That wasn't legal. 613 00:45:46.560 --> 00:45:47.560 All right. 614 00:45:47.560 --> 00:45:53.920 That one piece that was out there will actually save your company tons of money and a lot 615 00:45:53.920 --> 00:45:54.920 of legal problems. 616 00:45:54.920 --> 00:45:58.720 So how do you check if something has a patent in another country? 617 00:45:59.360 --> 00:46:01.120 Good question. 618 00:46:01.120 --> 00:46:05.560 So you can actually determine. 619 00:46:05.560 --> 00:46:09.320 If there's a patent on something by doing what's called a patent search. 620 00:46:09.320 --> 00:46:15.760 Now, in VIP, we did one of these together. 621 00:46:15.760 --> 00:46:19.600 But what I'll do is I'll show you guys real quick. 622 00:46:19.600 --> 00:46:22.560 Real fast here, just so you could see something. 623 00:46:22.560 --> 00:46:23.560 Hold on a second. 624 00:46:23.560 --> 00:46:40.040 All right, here we go. 625 00:46:40.040 --> 00:46:44.320 And I can tell you that this is not highly effective. 626 00:46:44.320 --> 00:46:49.600 I would not strongly suggest in any way, shape or form that you do this in the protection 627 00:46:49.600 --> 00:46:50.600 portal. 628 00:46:50.600 --> 00:46:56.520 You actually drop the information for patent searchers, like people who actually do this 629 00:46:56.520 --> 00:46:58.160 for a living. 630 00:46:58.160 --> 00:47:01.840 Like as an example, one company is Kramer and Amato. 631 00:47:01.840 --> 00:47:03.320 Terry Kramer is the founder. 632 00:47:03.320 --> 00:47:09.840 He graduated two years before me in law school, and he still reminds me of that anyways. 633 00:47:09.840 --> 00:47:12.880 But to this day, it reminds me of that. 634 00:47:12.880 --> 00:47:18.000 But he's really good friends of mine and my wife, and his outfit is really big and they're 635 00:47:18.000 --> 00:47:20.560 really good in Washington, D.C. 636 00:47:20.560 --> 00:47:22.640 And they do really good patent searches. 637 00:47:22.640 --> 00:47:28.000 And they only charge like between $1,500 and $2,000 for a search, which is good. 638 00:47:28.000 --> 00:47:33.000 So once the search is done, then the attorney reviews the results, which can cost like another 639 00:47:33.000 --> 00:47:34.000 three grand. 640 00:47:34.000 --> 00:47:39.780 So you might spend around five grand or six grand maybe on a good, strong patent search 641 00:47:39.780 --> 00:47:41.600 to see if your invention is protectable. 642 00:47:41.600 --> 00:47:45.720 All right, so I'm going to share my screen. 643 00:47:45.720 --> 00:47:49.200 If I have permitting, it works. 644 00:47:49.200 --> 00:47:50.520 Can you guys see the screen? 645 00:47:50.520 --> 00:47:51.520 Okay, great. 646 00:47:51.520 --> 00:47:57.680 All right, so you click on patents, and you click on search for patents. 647 00:47:57.680 --> 00:48:05.920 You scroll down to patent public search, patent public search, basic search. 648 00:48:05.920 --> 00:48:11.160 And once you're here, you can search all sorts of things. 649 00:48:11.160 --> 00:48:22.560 You can search by inventor name, publication date, patent application, publication number, 650 00:48:22.560 --> 00:48:24.840 attorney name, a bunch of... 651 00:48:24.840 --> 00:48:26.240 So let's say it's a company. 652 00:48:26.240 --> 00:48:29.280 Let's say you want to see patents that are issued by Sony. 653 00:48:29.280 --> 00:48:39.580 You can click ASCII name, and then type in Sony, the one and only, and then click search. 654 00:48:39.580 --> 00:48:42.220 And look at all these patents that come up, right? 655 00:48:42.220 --> 00:48:45.900 These are Sony patents, and there's a lot more. 656 00:48:45.900 --> 00:48:51.700 So that could be one thing, and then use and as the operator, and you could select another 657 00:48:51.700 --> 00:48:52.700 thing. 658 00:48:52.700 --> 00:49:03.780 If you say everything, and you type in for Sony earbuds, I wonder if anything will come 659 00:49:03.780 --> 00:49:04.780 up for that. 660 00:49:04.780 --> 00:49:05.780 Let's see. 661 00:49:05.780 --> 00:49:06.780 Nope. 662 00:49:06.780 --> 00:49:12.780 I'm going to have to do headset. 663 00:49:12.780 --> 00:49:19.460 There we go. 664 00:49:19.460 --> 00:49:27.420 So if you search for Sony and headset, these are patents that pop up for Sony and headset. 665 00:49:27.420 --> 00:49:31.180 So if I go into one of these patents here, let's see. 666 00:49:31.180 --> 00:49:37.100 Sound output device, PDF. 667 00:49:37.100 --> 00:49:39.260 Can you guys see the patent now? 668 00:49:39.260 --> 00:49:40.400 Okay. 669 00:49:40.400 --> 00:49:49.820 So what you're seeing here is the patent itself. 670 00:49:49.820 --> 00:49:56.660 And it says that this is a sound output device according to an embodiment includes acoustic 671 00:49:56.660 --> 00:49:58.420 path, microphone. 672 00:49:58.420 --> 00:50:00.220 It gives you all the parts. 673 00:50:00.000 --> 00:50:03.080 parts of this device, right? 674 00:50:03.080 --> 00:50:07.840 There's images, there's an eyeball in the middle. 675 00:50:07.840 --> 00:50:09.680 I don't know, it's kind of creepy. 676 00:50:11.240 --> 00:50:14.440 Not sure what that's about, but in any case, 677 00:50:15.680 --> 00:50:18.560 what you would do now is if you want to determine 678 00:50:18.560 --> 00:50:19.900 if you potentially infringe it, 679 00:50:19.900 --> 00:50:23.240 you go all the way to the bottom of the pad 680 00:50:23.240 --> 00:50:24.840 and go to the claims. 681 00:50:25.720 --> 00:50:29.080 And remember, it'll start with like, I claim or we claim, 682 00:50:29.080 --> 00:50:31.880 or here's another one, the invention claimed is, 683 00:50:31.880 --> 00:50:35.240 you start reading there, a sound output device comprising 684 00:50:35.240 --> 00:50:37.160 a housing, including an acoustic pack 685 00:50:37.160 --> 00:50:40.680 connecting a first space, blah, blah, blah. 686 00:50:40.680 --> 00:50:43.960 You have to have everything in here to infringe 687 00:50:43.960 --> 00:50:45.240 their patent, okay? 688 00:50:46.920 --> 00:50:48.840 That's the way a patent search works. 689 00:50:48.840 --> 00:50:52.040 The reason why I don't like the USPTO website 690 00:50:52.040 --> 00:50:57.040 as something to use for searching is that 691 00:50:58.920 --> 00:51:01.320 you have to choose the right words. 692 00:51:02.360 --> 00:51:06.200 Okay, so as an example, let's say that Patricia 693 00:51:06.200 --> 00:51:07.960 has a brand new bicycle. 694 00:51:07.960 --> 00:51:12.040 And so she says, hey, I wanna file a patent for a bicycle. 695 00:51:12.040 --> 00:51:14.360 So she goes online and she searches for the word bicycle 696 00:51:14.360 --> 00:51:16.360 and nothing pops up. 697 00:51:16.360 --> 00:51:19.240 But somebody filed a patent, Rhonda filed a patent 698 00:51:19.800 --> 00:51:23.800 on a two-wheeled driving mechanism, right? 699 00:51:26.360 --> 00:51:29.080 It doesn't use the word bicycle, 700 00:51:29.080 --> 00:51:31.320 but it's a two-wheeled driving mechanism. 701 00:51:31.320 --> 00:51:34.280 And that is a bicycle, it just didn't use the word bicycle. 702 00:51:34.280 --> 00:51:37.800 So you didn't even see it. 703 00:51:37.800 --> 00:51:39.640 And you might be committing patent infringement. 704 00:51:39.640 --> 00:51:42.120 So it's good to use it to just kind of look at things, 705 00:51:42.120 --> 00:51:46.920 but separate from that, it's just not the best thing. 706 00:51:46.920 --> 00:51:49.160 I mean, it's good to do some research. 707 00:51:49.160 --> 00:51:51.240 I would hire a professional, honestly, 708 00:51:51.240 --> 00:51:54.040 I would hire somebody like Terry Kramer or some others, 709 00:51:54.040 --> 00:51:55.480 or if you have questions, let me know, 710 00:51:55.480 --> 00:51:58.120 I'll let you know who to use, what people are good. 711 00:51:58.120 --> 00:52:00.680 And I don't make any money for referring you to people. 712 00:52:00.680 --> 00:52:01.960 I just know who's good in the industry 713 00:52:01.960 --> 00:52:04.680 because I've been doing it for 25 years, okay? 714 00:52:06.280 --> 00:52:08.840 All right, I will take one more question 715 00:52:08.840 --> 00:52:11.080 and then we are done. 716 00:52:11.080 --> 00:52:13.720 Our five days in the protected area 717 00:52:13.800 --> 00:52:15.000 We are done. 718 00:52:15.000 --> 00:52:17.960 Our five days in the Protector Idea Challenge 719 00:52:17.960 --> 00:52:19.640 is coming to a close. 720 00:52:20.600 --> 00:52:22.120 Michelle, you're a VIP with me. 721 00:52:22.120 --> 00:52:25.960 Let me see if anybody else has a question for a second. 722 00:52:25.960 --> 00:52:27.000 Hold on one sec. 723 00:52:27.000 --> 00:52:29.960 If nobody does, then I'll do patents expire. 724 00:52:29.960 --> 00:52:33.080 Yes, patents last for 20 years from filing 725 00:52:33.880 --> 00:52:36.600 for a utility patent, system patents. 726 00:52:38.200 --> 00:52:40.360 Design patents only last for 14 years. 727 00:52:40.680 --> 00:52:43.160 They last for 20 years from filing. 728 00:52:43.160 --> 00:52:45.560 That's how long they last, all right? 729 00:52:45.560 --> 00:52:47.320 I don't see anybody else who has a question. 730 00:52:47.320 --> 00:52:49.400 So, oh, Pat, go right ahead. 731 00:52:50.280 --> 00:52:53.480 So I'm wondering if there's a way to check 732 00:52:53.480 --> 00:52:56.920 on trademarks for artwork 733 00:52:56.920 --> 00:52:59.400 and especially artwork that's been produced 734 00:52:59.400 --> 00:53:00.440 in another country. 735 00:53:01.640 --> 00:53:02.680 That's a good question. 736 00:53:04.520 --> 00:53:07.160 Well, you can certainly search for artwork. 737 00:53:07.640 --> 00:53:10.920 You just have to figure out what is like, 738 00:53:10.920 --> 00:53:13.960 are you thinking like paintings or sculptures or? 739 00:53:13.960 --> 00:53:16.280 Yeah, I mentioned this in the chat in the first, 740 00:53:16.280 --> 00:53:19.800 when I introduced myself, wine labels in France. 741 00:53:19.800 --> 00:53:20.600 Because some of them- 742 00:53:20.600 --> 00:53:21.880 Yeah, I read that, yeah. 743 00:53:21.880 --> 00:53:23.880 Yeah, some of them are really beautiful, 744 00:53:23.880 --> 00:53:25.000 but they're old. 745 00:53:25.000 --> 00:53:28.280 I mean, we're talking they've been out of use 746 00:53:28.280 --> 00:53:30.520 for 50 years, 75 years. 747 00:53:30.520 --> 00:53:32.760 Sure, yeah. 748 00:53:32.760 --> 00:53:35.320 So that would be like artwork. 749 00:53:35.640 --> 00:53:39.080 That would be like drawings, paintings, 750 00:53:39.080 --> 00:53:40.040 those kinds of things. 751 00:53:40.680 --> 00:53:42.680 And so what you would do is look up 752 00:53:42.680 --> 00:53:46.200 the international class associated with artwork. 753 00:53:46.760 --> 00:53:47.800 And then what you would do, 754 00:53:48.760 --> 00:53:50.200 I would actually look for artwork 755 00:53:50.200 --> 00:53:51.960 and I would look in wine. 756 00:53:51.960 --> 00:53:54.040 And then I would search the trademark in those areas. 757 00:53:55.720 --> 00:53:57.080 I would search for those. 758 00:53:57.080 --> 00:54:01.880 And that will actually result in me seeing 759 00:54:01.880 --> 00:54:04.520 what's out there is by searching it like that. 760 00:54:05.400 --> 00:54:08.120 It occurred to me to maybe contact the company 761 00:54:08.120 --> 00:54:09.400 because there's like a billion. 762 00:54:10.040 --> 00:54:11.320 All right, let me talk to you guys 763 00:54:11.320 --> 00:54:13.080 about contacting companies. 764 00:54:13.800 --> 00:54:15.640 This is really a VIP question. 765 00:54:16.520 --> 00:54:18.760 All right, I'll answer it here 766 00:54:18.760 --> 00:54:21.000 just because I've got three more minutes. 767 00:54:21.000 --> 00:54:22.600 So I'll throw it in here. 768 00:54:22.600 --> 00:54:26.680 All right, this is a really big deal. 769 00:54:27.640 --> 00:54:30.040 Do not reach out to other companies 770 00:54:31.400 --> 00:54:33.080 unless you're prepared for them 771 00:54:33.080 --> 00:54:34.280 to potentially sue you 772 00:54:34.280 --> 00:54:35.560 for something you're already doing. 773 00:54:36.360 --> 00:54:39.080 Okay, so if you're not doing something yet, 774 00:54:40.120 --> 00:54:42.120 no problem, reach out to them, 775 00:54:42.120 --> 00:54:43.480 tell them whatever you want, right? 776 00:54:44.680 --> 00:54:45.880 Because you got nothing to lose. 777 00:54:47.240 --> 00:54:48.920 But if you've been doing something 778 00:54:48.920 --> 00:54:50.680 for two or three years, four years, 779 00:54:50.680 --> 00:54:52.040 and somebody has something 780 00:54:52.040 --> 00:54:53.320 that you're a little concerned about, 781 00:54:53.880 --> 00:54:55.160 talk to an attorney first 782 00:54:55.160 --> 00:54:59.400 to find out whether or not you truly are in trouble. 783 00:54:59.400 --> 00:54:59.900 And I... 784 00:55:00.000 --> 00:55:03.760 I would actually, I would actually ask the lawyer 785 00:55:03.760 --> 00:55:08.080 to come up with a strategy for you speaking to them, right? 786 00:55:08.080 --> 00:55:10.800 Because if somebody calls up an individual and says, 787 00:55:10.800 --> 00:55:15.800 hey, love your house, and by the way, 788 00:55:17.460 --> 00:55:20.640 I've been living in your basement for the last two weeks, 789 00:55:20.640 --> 00:55:22.280 just want you to know. 790 00:55:22.280 --> 00:55:24.440 I wonder, do you really have a problem 791 00:55:24.440 --> 00:55:25.920 with me being in your basement? 792 00:55:25.920 --> 00:55:27.600 Like, is that okay? 793 00:55:27.640 --> 00:55:29.800 Maybe I can give you some money 794 00:55:29.800 --> 00:55:31.200 for staying in your basement? 795 00:55:31.200 --> 00:55:32.500 I don't, is that all right? 796 00:55:33.680 --> 00:55:34.920 Just asking. 797 00:55:34.920 --> 00:55:37.440 Like, they may come out and call the cops, 798 00:55:37.440 --> 00:55:38.880 have you arrested. 799 00:55:38.880 --> 00:55:41.620 They may like sue you for all sorts of things. 800 00:55:42.880 --> 00:55:44.560 So don't just rant, 801 00:55:44.560 --> 00:55:47.500 even though I know everybody here has a good heart, 802 00:55:47.500 --> 00:55:49.800 and I know a lot of people here, you know, 803 00:55:49.800 --> 00:55:52.040 just wonderful people. 804 00:55:52.040 --> 00:55:55.560 Unfortunately, not everybody's like that. 805 00:55:55.560 --> 00:56:00.320 And so you may reach out in an honest, caring manner 806 00:56:00.320 --> 00:56:01.840 and get sued. 807 00:56:01.840 --> 00:56:03.500 So talk to a lawyer and find out 808 00:56:03.500 --> 00:56:05.320 what your case is really like 809 00:56:05.320 --> 00:56:06.760 before you reach out to a party 810 00:56:06.760 --> 00:56:09.600 that potentially has something that you may be infringing. 811 00:56:09.600 --> 00:56:11.300 Now, if you're not infringing yet, 812 00:56:12.600 --> 00:56:14.920 then I don't really see that big of a deal 813 00:56:14.920 --> 00:56:17.080 because if they come out and they get bad, 814 00:56:17.080 --> 00:56:21.740 then you know, and you know, then you move on. 815 00:56:21.740 --> 00:56:25.160 But just be prepared if they get mad 816 00:56:25.760 --> 00:56:27.280 or even if they don't get mad, just be prepared. 817 00:56:27.280 --> 00:56:28.560 You're now on the radar. 818 00:56:28.560 --> 00:56:31.120 You're a potential target, you know? 819 00:56:31.120 --> 00:56:34.400 And so I had, this was the worst situation ever. 820 00:56:34.400 --> 00:56:36.800 This associate actually was fired. 821 00:56:36.800 --> 00:56:38.480 I was in a law firm. 822 00:56:39.940 --> 00:56:41.760 I had a summer associate 823 00:56:43.680 --> 00:56:46.720 and I had the summer associate do a research project. 824 00:56:46.720 --> 00:56:48.000 And I said to the summer associate, 825 00:56:48.000 --> 00:56:51.200 hey, for this research project, 826 00:56:51.200 --> 00:56:55.120 I need to determine whether this company here 827 00:56:55.960 --> 00:56:58.120 really, truly cares about their trademark 828 00:56:58.120 --> 00:57:00.720 because this client that I have 829 00:57:00.720 --> 00:57:03.120 is doing something that clearly infringes. 830 00:57:06.560 --> 00:57:11.240 This summer associate, I don't know what possessed him, 831 00:57:12.180 --> 00:57:14.920 calls up the other company, literally called them up. 832 00:57:15.960 --> 00:57:18.280 Can I speak to the legal department? 833 00:57:18.280 --> 00:57:20.880 I don't, you can't make this stuff up. 834 00:57:20.880 --> 00:57:22.500 Can I speak to the legal department? 835 00:57:22.500 --> 00:57:25.540 Guess one of the lawyers from the company, right? 836 00:57:25.540 --> 00:57:28.560 We've got a client that's like doing exactly 837 00:57:28.560 --> 00:57:30.220 what's in your trademark. 838 00:57:30.220 --> 00:57:31.820 And so we're kind of curious, 839 00:57:31.820 --> 00:57:33.880 do you really care about your trademark? 840 00:57:35.180 --> 00:57:38.420 And I was like, so I get, I mean, 841 00:57:38.420 --> 00:57:41.820 fortunately the lawyer like heard of me. 842 00:57:41.820 --> 00:57:43.100 And so it reached out to me. 843 00:57:43.100 --> 00:57:44.380 He found out I was at this firm. 844 00:57:44.380 --> 00:57:46.780 He knew I was the head of the IP department. 845 00:57:46.780 --> 00:57:51.380 Incredibly nice, kind, courteous lawyer calls me up, right? 846 00:57:51.380 --> 00:57:53.500 He goes, hey, I just want you to know 847 00:57:53.500 --> 00:57:56.220 that one of your associates called me and said this. 848 00:57:56.220 --> 00:57:58.040 I was like, what? 849 00:57:58.040 --> 00:58:01.940 It's yeah, yeah, he called me, told me this. 850 00:58:01.940 --> 00:58:04.200 And it's not that big a deal, 851 00:58:04.200 --> 00:58:06.660 but the client's not gonna be happy. 852 00:58:06.660 --> 00:58:09.100 So I would suggest you back off. 853 00:58:09.100 --> 00:58:11.420 And I said, number one, thank you. 854 00:58:11.420 --> 00:58:12.540 You didn't need to do that. 855 00:58:12.540 --> 00:58:16.800 You could have made my life a living hell if you wanted to. 856 00:58:16.800 --> 00:58:17.820 So thank you. 857 00:58:17.820 --> 00:58:18.900 I'm very grateful. 858 00:58:18.900 --> 00:58:20.700 I owe you one, all right? 859 00:58:20.700 --> 00:58:22.820 I even tell, I say, I owe you one. 860 00:58:22.820 --> 00:58:27.420 I said, second, yeah, I'm gonna have his head on a platter 861 00:58:27.420 --> 00:58:29.300 within seconds. 862 00:58:29.300 --> 00:58:33.100 And so anyways, I went and I told 863 00:58:33.100 --> 00:58:37.540 the summer associates mentor, right? 864 00:58:37.540 --> 00:58:39.860 Summer associate mentor finds out, 865 00:58:41.020 --> 00:58:44.080 goes to talk to the summer associate. 866 00:58:44.080 --> 00:58:47.140 The mentor goes, oh my gosh, Peter, I had no idea. 867 00:58:47.140 --> 00:58:48.460 I'm so sorry. 868 00:58:49.180 --> 00:58:51.100 I don't know what to do. 869 00:58:51.100 --> 00:58:56.100 And tells the summer associate that he can't do that. 870 00:58:59.380 --> 00:59:02.260 And I said, are we thinking of hiring this guy? 871 00:59:02.260 --> 00:59:05.100 And they said, well, he does okay work. 872 00:59:05.100 --> 00:59:07.580 I don't think we're truly gonna hire him. 873 00:59:07.580 --> 00:59:09.820 I said, look, everybody makes a mistake. 874 00:59:09.820 --> 00:59:11.180 This is what I wanna see. 875 00:59:12.820 --> 00:59:17.820 If he's up for it, I want him to come into my office 876 00:59:18.020 --> 00:59:20.580 knowing that it was my client and one of my biggest clients. 877 00:59:20.580 --> 00:59:22.700 I want him to come into my office, 878 00:59:22.700 --> 00:59:25.300 tell me what happened and apologize to me. 879 00:59:25.300 --> 00:59:26.740 That's what I want. 880 00:59:26.740 --> 00:59:29.980 If he does that, I'll give him a clean bill of health. 881 00:59:29.980 --> 00:59:33.180 I won't hold it against him at all, not at all. 882 00:59:33.180 --> 00:59:35.340 I said, I just want him to do that. 883 00:59:35.340 --> 00:59:39.060 So the guy literally, this happened. 884 00:59:39.060 --> 00:59:39.900 I'm not making this up. 885 00:59:39.900 --> 00:59:43.460 The guy literally, he hears this. 886 00:59:43.460 --> 00:59:46.140 The mentor says, I don't think this is a good idea. 887 00:59:46.180 --> 00:59:49.300 I said, look, it's common sense you don't do that. 888 00:59:49.300 --> 00:59:50.660 This is not legal knowledge. 889 00:59:50.660 --> 00:59:52.220 It's common sense not to do that. 890 00:59:52.220 --> 00:59:55.140 So if he wants to make it up, 891 00:59:55.140 --> 00:59:57.380 he needs to come into my office and tell me 892 00:59:57.380 --> 00:59:59.060 and talk to me about it. 893 00:59:59.060 --> 01:00:00.220 And I gotta give the. 894 01:00:00.000 --> 01:00:02.160 guy credit like late afternoon. 895 01:00:02.160 --> 01:00:04.260 I get a knock on my door and there he is. 896 01:00:05.400 --> 01:00:06.860 And he says, Mr. 897 01:00:06.860 --> 01:00:07.980 Nieves, can I talk to you? 898 01:00:07.980 --> 01:00:08.980 And I said, absolutely. 899 01:00:09.560 --> 01:00:12.180 And, um, he said, yeah, right, Shelly. 900 01:00:12.500 --> 01:00:15.960 And so he says, I'm so sorry. 901 01:00:15.960 --> 01:00:17.060 This is what I did. 902 01:00:17.220 --> 01:00:19.100 I thought that's what you wanted me to do. 903 01:00:19.920 --> 01:00:26.000 And I asked him, I said, well, what part, how, when did you think it was a good 904 01:00:26.000 --> 01:00:31.680 idea of telling the opponent, you know, the opposing party who we are, what we're 905 01:00:31.680 --> 01:00:34.720 doing and basically exposing ourselves. 906 01:00:34.760 --> 01:00:36.980 Like when, when did that come in? 907 01:00:37.320 --> 01:00:38.600 He says, I don't know. 908 01:00:38.600 --> 01:00:40.720 That was the dumbest thing I've ever done in my life. 909 01:00:40.720 --> 01:00:42.760 I said, look, I've done some dumb stuff myself. 910 01:00:43.560 --> 01:00:45.560 Uh, and he said, I'm so sorry. 911 01:00:45.560 --> 01:00:46.220 Would you forgive me? 912 01:00:46.220 --> 01:00:48.160 I said, done, it's done. 913 01:00:48.280 --> 01:00:52.040 So this is what ends up happening at the end of the summer. 914 01:00:52.440 --> 01:00:54.200 All the senior partners, right. 915 01:00:54.200 --> 01:00:59.240 We get together and we do an evaluation of all the summer associates to determine who 916 01:00:59.240 --> 01:01:00.560 we're going to give the offer to. 917 01:01:00.840 --> 01:01:01.200 Right. 918 01:01:02.240 --> 01:01:07.240 And so he comes up and everybody hated him. 919 01:01:07.280 --> 01:01:12.040 Like every, like everybody was like bad, this bad, that bad, that I gave him an 920 01:01:12.040 --> 01:01:17.080 incredible review because I said, do you know how difficult it is to admit that 921 01:01:17.080 --> 01:01:21.640 you're wrong and to be able to present yourself in a professional manner without 922 01:01:21.640 --> 01:01:27.160 breaking down and present your case, admit that you're wrong, ask for forgiveness 923 01:01:27.160 --> 01:01:29.920 and ask to learn how to do things properly going forward. 924 01:01:30.320 --> 01:01:35.640 Like that to me spoke more volumes than one of the guys who was with a really good 925 01:01:35.680 --> 01:01:36.240 lawyer. 926 01:01:37.000 --> 01:01:38.360 And so I voted for him. 927 01:01:38.400 --> 01:01:39.320 Everybody else said no. 928 01:01:39.320 --> 01:01:40.120 So he didn't get a job. 929 01:01:40.120 --> 01:01:46.000 But anyways, all that to basically say, um, don't randomly call people and say, 930 01:01:46.000 --> 01:01:47.680 Hey, I'm infringing your stuff. 931 01:01:48.000 --> 01:01:48.920 Just don't do that. 932 01:01:48.960 --> 01:01:49.280 All right. 933 01:01:49.800 --> 01:01:50.200 All right. 934 01:01:50.560 --> 01:01:55.200 With that going, Jane just said, what is this? 935 01:01:58.400 --> 01:02:00.920 What is the next group I can say? 936 01:02:01.000 --> 01:02:01.600 Oh, okay. 937 01:02:02.040 --> 01:02:02.240 All right. 938 01:02:02.240 --> 01:02:04.680 So some people were asking about the protection portal. 939 01:02:04.680 --> 01:02:08.600 So for the protection portal, the door opens. 940 01:02:08.600 --> 01:02:10.640 Now it closes Wednesday. 941 01:02:10.640 --> 01:02:12.360 It's 24 95. 942 01:02:12.960 --> 01:02:15.000 Do I know when we're going to do this again? 943 01:02:15.000 --> 01:02:19.600 I do not because we are doing a, um, we're kind of doing a revamping. 944 01:02:19.600 --> 01:02:24.160 I'm sitting down with somebody who's very good at, at doing this for a living. 945 01:02:24.720 --> 01:02:32.000 And we're looking at how can we be as effective as possible for entrepreneurs? 946 01:02:32.680 --> 01:02:41.120 Because what you know right now, you probably fall into the maybe 8% of the 947 01:02:41.120 --> 01:02:43.320 entrepreneurs in the world that know this. 948 01:02:43.440 --> 01:02:44.880 Nobody else knows this stuff. 949 01:02:45.880 --> 01:02:48.920 Like it's just so rare that people know this. 950 01:02:49.520 --> 01:02:49.840 Okay. 951 01:02:49.840 --> 01:02:53.840 What you guys know right now should make you way advanced over others. 952 01:02:54.240 --> 01:02:59.480 But as we've been running the challenges, we're typically running between 50 and 70 953 01:02:59.480 --> 01:03:04.600 registrants, and we're trying to break through that a hundred number to help more 954 01:03:04.600 --> 01:03:08.800 people, uh, because we're just seeing the damages and people closing their 955 01:03:08.800 --> 01:03:10.080 businesses all the time. 956 01:03:10.560 --> 01:03:14.880 And so we're kind of doing an evaluation of, should we make like a patent one in 957 01:03:14.880 --> 01:03:16.720 a trademark one in a copyright one? 958 01:03:16.720 --> 01:03:20.720 Or should we do the big protector idea challenge one, like we've been doing, 959 01:03:20.720 --> 01:03:22.640 which seems to be growing in recognition. 960 01:03:23.160 --> 01:03:27.320 So we're going to be reaching out to all of you to ask you this stuff. 961 01:03:27.320 --> 01:03:30.240 I mean, you're actually very important to us as well. 962 01:03:30.680 --> 01:03:36.160 Not only, you know, is it, is it valuable for me to be able to train you, but you 963 01:03:36.160 --> 01:03:41.040 guys are very valuable to me because you help other people know about this so that 964 01:03:41.040 --> 01:03:44.240 they can receive assistance and you also give us feedback. 965 01:03:44.240 --> 01:03:48.760 So that is a wonderful, do you see how I did that? 966 01:03:48.760 --> 01:03:49.040 Right. 967 01:03:49.040 --> 01:03:49.680 Was that cool? 968 01:03:50.080 --> 01:03:53.240 I was just like, and you gave me that really was a good circuit. 969 01:03:53.240 --> 01:03:53.720 Was that good? 970 01:03:53.720 --> 01:03:54.400 You like that? 971 01:03:54.440 --> 01:03:54.880 That was good. 972 01:03:54.880 --> 01:03:55.080 Right. 973 01:03:55.280 --> 01:03:56.320 That's how I do it in a court. 974 01:03:56.360 --> 01:03:57.240 That's how I do it in the court. 975 01:03:57.640 --> 01:04:01.200 Um, I dropped the video ask link right now then just, yeah, please do. 976 01:04:01.240 --> 01:04:01.680 Yeah. 977 01:04:01.920 --> 01:04:02.600 Yeah, please do. 978 01:04:02.600 --> 01:04:09.560 So if you guys would all bless me, um, we are, we are giving you two things. 979 01:04:09.560 --> 01:04:16.240 One is a, um, a video ask request with the video ask request is all you do is 980 01:04:16.240 --> 01:04:21.200 you click the link and then you just follow the instructions and you can 981 01:04:21.200 --> 01:04:27.640 actually do a live review of the protector idea challenge right there. 982 01:04:27.920 --> 01:04:33.640 So as if you were going to explain what you liked about it or why other 983 01:04:33.640 --> 01:04:37.560 people should join the protector idea challenge, you can actually go right 984 01:04:37.560 --> 01:04:39.200 in there and just do a live review. 985 01:04:39.840 --> 01:04:45.680 And the software that we we've licensed to use this from, uh, it automatically 986 01:04:46.520 --> 01:04:48.480 takes the video and sends it back to us. 987 01:04:48.960 --> 01:04:49.240 Okay. 988 01:04:49.240 --> 01:04:50.560 So we can actually see this. 989 01:04:50.800 --> 01:04:55.760 The second thing is the, do you have the evaluation forms done? 990 01:04:56.280 --> 01:04:56.640 Yeah. 991 01:04:58.640 --> 01:04:59.360 Thank you so much. 992 01:04:59.360 --> 01:04:59.600 Right. 993 01:05:00.000 --> 01:05:03.040 The feedback form, okay? 994 01:05:03.040 --> 01:05:05.200 This is really important to me personally. 995 01:05:05.200 --> 01:05:07.740 I'd like to get your feedback. 996 01:05:07.740 --> 01:05:08.720 What helped you? 997 01:05:08.720 --> 01:05:09.960 What didn't help you? 998 01:05:09.960 --> 01:05:12.420 Did you like everything that you learned? 999 01:05:12.420 --> 01:05:13.360 Was it too fast? 1000 01:05:13.360 --> 01:05:14.960 Was it too slow? 1001 01:05:14.960 --> 01:05:17.280 Like, oh, I'd like to get your evaluation. 1002 01:05:17.280 --> 01:05:20.500 So please, for my own benefit, 1003 01:05:22.040 --> 01:05:25.720 click on that feedback form and fill it out 1004 01:05:25.720 --> 01:05:27.320 and please get it back to me. 1005 01:05:28.200 --> 01:05:29.320 And just so you guys know, 1006 01:05:29.520 --> 01:05:32.840 this past week, the last five days, 1007 01:05:32.840 --> 01:05:35.160 I've not been working at the law firm. 1008 01:05:35.160 --> 01:05:37.280 I've been working here with you guys. 1009 01:05:37.280 --> 01:05:39.920 So if you guys would just dedicate the time 1010 01:05:40.980 --> 01:05:42.720 to fill that out and get it back to me, 1011 01:05:42.720 --> 01:05:44.680 like I've dedicated this week to you guys, 1012 01:05:44.680 --> 01:05:47.320 it would be greatly appreciated, okay? 1013 01:05:47.320 --> 01:05:51.000 And with that, we're close. 1014 01:05:51.880 --> 01:05:54.720 Jane, did you have a question or was that your one point? 1015 01:05:55.920 --> 01:05:57.600 I have one quick question 1016 01:05:57.600 --> 01:06:00.440 because I think it would apply to everybody 1017 01:06:00.440 --> 01:06:01.560 that we didn't ask before. 1018 01:06:01.560 --> 01:06:02.600 We're really quick. 1019 01:06:02.600 --> 01:06:04.000 It's about Canva. 1020 01:06:04.000 --> 01:06:06.440 The images that they use, are we allowed to use that? 1021 01:06:06.440 --> 01:06:09.240 Is that copyright, like if we use their image 1022 01:06:09.240 --> 01:06:11.640 and then use it for our purpose? 1023 01:06:11.640 --> 01:06:14.440 Yeah, so what we'll do is we'll drop the license. 1024 01:06:14.440 --> 01:06:16.200 So this is why, guys, 1025 01:06:16.200 --> 01:06:18.000 this is why the protection portal 1026 01:06:18.000 --> 01:06:19.440 is so important for you guys. 1027 01:06:19.440 --> 01:06:23.680 We actually drop the license agreements in there, okay? 1028 01:06:23.680 --> 01:06:25.760 Canva has an agreement in there 1029 01:06:25.760 --> 01:06:28.400 that tells you what you can and can't do with it. 1030 01:06:28.400 --> 01:06:29.800 So what we'll do for you guys, 1031 01:06:29.800 --> 01:06:32.920 we'll drop the link so you can look it up, 1032 01:06:32.920 --> 01:06:35.520 but Canva has specific rules 1033 01:06:35.520 --> 01:06:38.400 as to what you can do with their content. 1034 01:06:38.400 --> 01:06:39.720 And that's stuff that we go through 1035 01:06:39.720 --> 01:06:41.400 in the protection portal, guys, 1036 01:06:41.400 --> 01:06:44.520 because we break down the agreement in detail. 1037 01:06:44.520 --> 01:06:48.400 Remember, whenever you sign up with YouTube, Vimeo, 1038 01:06:48.400 --> 01:06:50.640 Facebook, Canva, 1039 01:06:51.600 --> 01:06:56.600 ChatGPT, MidJourney, Otter.ai, Jasper, 1040 01:06:57.520 --> 01:06:59.200 you're signing an agreement. 1041 01:07:00.720 --> 01:07:04.600 You have agreed to something, all right? 1042 01:07:04.600 --> 01:07:07.440 You need to know what you agreed to. 1043 01:07:07.440 --> 01:07:09.440 And in Canva's specific situation, 1044 01:07:09.440 --> 01:07:12.160 it has some provisions that talk about 1045 01:07:12.160 --> 01:07:14.640 how you can use their artwork. 1046 01:07:14.640 --> 01:07:16.760 What you can't do is you can't take their artwork 1047 01:07:16.760 --> 01:07:18.320 and make it part of your own trademark 1048 01:07:18.320 --> 01:07:19.400 and try to file a trademark 1049 01:07:19.600 --> 01:07:21.360 because you're not the owner. 1050 01:07:21.360 --> 01:07:22.720 So you can't do that. 1051 01:07:22.720 --> 01:07:23.840 But there's other things, 1052 01:07:23.840 --> 01:07:25.840 other provisions that are in there. 1053 01:07:25.840 --> 01:07:28.600 So I would suggest you guys get into the protection portal 1054 01:07:28.600 --> 01:07:31.160 because we talk about that stuff a lot. 1055 01:07:31.160 --> 01:07:32.880 A lot of people that are running businesses 1056 01:07:32.880 --> 01:07:36.760 bring their situations in and we digest things there too. 1057 01:07:36.760 --> 01:07:39.800 So, all right, with that, we're closed. 1058 01:07:39.800 --> 01:07:41.960 Congratulations, you have completed 1059 01:07:41.960 --> 01:07:43.760 the Protect Your Idea Challenge. 1060 01:07:43.760 --> 01:07:45.680 Let other people know, go on Facebook, 1061 01:07:45.680 --> 01:07:49.120 say, hey, I just did this five day challenge. 1062 01:07:49.840 --> 01:07:50.680 This is what we learned. 1063 01:07:50.680 --> 01:07:53.120 Just kind of let people know that you've completed it. 1064 01:07:53.120 --> 01:07:54.200 And the other thing is, 1065 01:07:54.200 --> 01:07:56.760 don't forget you are extremely valuable. 1066 01:07:56.760 --> 01:08:01.160 You now learn this, which brings up your value. 1067 01:08:01.160 --> 01:08:03.640 So you should like, if you're a coach, 1068 01:08:03.640 --> 01:08:05.720 you should be increasing your costs. 1069 01:08:05.720 --> 01:08:08.360 If there are certain ways you're going to be using IP 1070 01:08:08.360 --> 01:08:11.160 in your practice, that might increase your value. 1071 01:08:11.160 --> 01:08:13.640 Like Todd, Todd actually has certain services 1072 01:08:13.640 --> 01:08:14.840 that he provides. 1073 01:08:14.840 --> 01:08:17.399 He also includes a trademark thing now. 1074 01:08:17.399 --> 01:08:19.000 Increase the cost of the package. 1075 01:08:19.720 --> 01:08:20.560 There's things that you can do now 1076 01:08:20.560 --> 01:08:21.960 that you couldn't do before. 1077 01:08:22.840 --> 01:08:27.840 All right, so figure that out and just enjoy it.