Okay, so just real quick, I want to go over the audit very fast, just so people understand
things.
So they got a number of questions on it.
So I'm going to play a video here for a number of testimonies of people who have actually
done the audit, who are applying things already within their businesses and doing incredibly
well.
This one, all of you met yesterday, because I asked her to stop by, but I think her testimony
is very helpful.
So I'm going to let it play because I think it's going to relate to a number of people.
So let me open the link.
Here we go.
And let me share my screen.
Okay, make sure we're sharing the sound too.
There we go.
Share sound as well.
Good.
Okay, here we go.
I had just finished my audit, and I just have to say guys that it was the best party I've
ever been to.
And it definitely over delivered in every way that I could have ever imagined.
I didn't know what to expect, to be honest, I did know that I was going to come out with
some crazy value and I did.
So much was unpacked in such little time.
And it was just smooth.
I've had businesses before, but this is a different business I'm getting into.
And Peter does not do all the work for you.
He does all the work with you.
And that alone is already more than you can ask for.
You're definitely ripping him off by getting all these things taken care of and he's there
with you the whole time.
We've robbed him definitely because this is priceless.
It's the value on your audit and just being in this protection portal alone is so much
more than you can ask for.
So mad props to the generosity that Peter has given us for allowing us to be in such
a community.
And I'm just confessing that to everyone so you know how real this is.
And I just want to stand on solid ground again and say that Peter is the real deal.
He's just so thorough, this guy is so proper with everything.
And I cannot be more blessed to have had him work on this with me.
And I just pray to be successful so much sooner so that I can just go back and just
tell everyone, you know what, this is the guy, this is the man who helped me get to
where I got to go.
Definitely one of the key roles into my success.
I just had my IP audit yesterday.
I'm very grateful for this program because I was stuck literally because of these copyright
issues that I thought about it but I didn't know how to solve them.
I tried to look for an IP lawyer but haven't been able to find one that is as knowledgeable
as Peter and experienced as Peter.
And so this time he really solved a lot of the long time questions I had regarding the
videos I created.
Each question, each situation I mentioned, Peter was able to help me to find an answer.
Oh yes, I started a company name, eventually we found that there is another trademark that
has the very similar name.
But we found another one which is closer to my Chinese version and it has a higher possibility
to be accepted.
So that is great.
I was very excited.
At least I know there's a way to solve it instead of hanging in the air.
I just had my IP audit.
Peter and Ray did an amazing job.
It just seemed to flow.
In between all of that we were laughing and having fun.
Peter gave me legal direction and discussed my patent and its history.
Then he gave me legal direction regarding the word trademark and the specific goods
and services that could be affected.
And we think we overcame a few items there.
Oh I had a manufacturing terms and services.
services document, there was preparatory information, as well as an indemnity clause, and I read
over those thoroughly, brought those to Peter's attention.
He read through them as well, gave me great direction on what to add, why he was concerned
about specific things.
I think we covered nine different things.
Definitely get prepared, look over everything you have, have more questions than you need.
Peter's more than willing to take the time to go through it, and just a wonderful, wonderful
experience.
I just got done with my IP audit, and I'm so, so happy.
It just was amazing.
Peter helped me find a great money-making idea for a business that was something that
I'm already good at, and I can just easily do it and put together a challenge and a course,
and I didn't even know it was a thing.
A potential partnership came out of this that is going to be a win-win-win, a win for all
of us and the people that we serve.
My exact IP questions were answered, and seeing the trademark searching going on with my ideas
just made the training so much more clear, because I could see, okay, these are my ideas,
and then this is where it doesn't line up, it's too descriptive or common terms that
shouldn't be used.
And then I came away with two business names that are unique and available to trademark,
so that's just really exciting, because that's where I was kind of not knowing where to go
from there.
And then I came away with Clarity, Focus, Peace, and Joy.
So I mean, just amazing, amazing.
I feel like I'm so much lighter now, and so much more on fire to go and get my ideas done
and work on this money-making idea.
Hi there.
I'm Eileen, and I did my IP audit last week with Peter Nieves.
So they get you prepared with a package to, you know, have everything squared away, what
we're going to talk about.
And me being new in my business, I'm writing a book, and I've got, you know, some coaching
down the road.
I was thinking, okay, this meeting is not going to take long, because I don't have much.
But after three hours, close to three hours with Peter, one, I just, it was awesome.
I don't like lawyer stuff, I don't like, you know, that talk, but Peter just made it
so easy.
He gave me just like, like a map of the things that I needed to do, that I needed to take
care of, how to protect myself, literally, it was so much more than what I expected.
And Peter just goes above and beyond.
So if you're thinking about it, considering it, I highly, highly suggest and encourage
that you do.
You will not be disappointed.
Okay, I wanted to share that for a number of reasons.
One is, a lot of people don't really understand what is being offered.
And I'm getting literally phone calls and DMs where people are asking, you know, is
this, are you going to do this?
Are you going to do that?
So I'm just going to take a minute so you understand.
So what we're offering here is legal advice.
It's not what we're doing here, where we're saying, this is not legal advice.
This actually, this actually is legal advice, guys.
Like we are analyzing your company, we're breaking down your company, your partnerships,
your agreements, your legal agreements, your relationships, we are digging in.
And you're, you literally will get a client engagement agreement, you'll be working directly
with Nieves IP Law Group, which is my own law firm, which I created, which has my own
attorneys who I selected, my own paralegals.
Separate from that, we're covering trademark issues, patent issues, copyright issues and
trade secret issues all at the same time.
Typically what happens is you'll call a patent attorney, talk to them, then call a trademark
attorney, talk to them separate, then call a copyright attorney, talk to them separate
and hopefully they know trade secret law.
So you're explaining the same scenario multiple times, which increases your costs, which is
part of why these kinds of things cost typically 15 to $20,000.
Separate from that, this is your time.
I had this question multiple times, people say, can we just do a lot of trademark searches
or can we, can I talk about multiple companies?
Look, I don't care.
I'll do whatever.
This is your time.
We can do whatever you want.
If you want to talk about multiple companies, bring all of your companies.
We had somebody, my gosh, Ray, what one person had like 14 questions, like literally it was
like another and another and another and they brought, they had three companies.
They brought all three companies.
It was Nick.
It was, it totally was Nick.
And he's Nick and his wife.
And they said, well, I know we're supposed to talk about one company, but can we talk
about the other ones?
I'm not going to, just in case you guys haven't figured it out yet, I'm not going to say no
to pretty much anything.
anything. So if it's in my means to help you, I'm going to help
you. All right, if you're there, but so you're going to get the
guidance on all these things. If you want to search many
different trademarks during that two hours, three hours, I don't
care. We can keep searching until we find a name that works
for you. But I'll be doing the searching for you. So it's not
like you just trying to figure it out on your own. Separate
from that. You're also going to get the protection portal. I've
had some questions on that. So I'll take one minute to explain
this. And then we're going to jump in a little more. I'm going
to let Jill speak and then we're going to jump in. The protection
portal is a network. It's a private network. It's a private
Facebook group. This now in this network, we're live all the
time. We're sharing knowledge with each other. We're help
people are asking questions or getting guidance on the latest
trends in IP. On top of that, I go live for an hour and a half
every single month and answer people's questions. They can
email me questions during the month. I go through them during
that time together and we answer all those questions. Now that's
one feature of it. The other feature is the people are
helping each other. Like if you need a contact in creating
funnels or in an accountant or whatever it is, the people are
there. So they're helping each other. And they're supporting
each other. So it's no wonder that the people in that group
are kind of elevated more than most. Because they all help
there. They just have this obligation to each other to
excel. And you literally see it there. And with that, I'm going
to share is Jill here.
Yes, she is. Yeah, I'm gonna go to alumni, Joe Wolf. Whoops.
Oh, Judy. No, keep Judy on for a second. Keep Judy on for a
second. So just so everybody knows, because I want to honor
her. This is Judy Jordan. All right. So Judy, who's trying to
prevent herself from being on the screen is literally the
reason why I learned about 100x. The reason why I learned about
challenges, the reason why I dug into creating this entire
curriculum. So just want to honor you just love you to bits,
Judy, very grateful for you. So love you on. Alright, so let's
pull up Jill. Alumni Jill Wolf. So Jill, how are you? Good. Am
I my gosh, that that looks like it looks like stuff I'm doing
like all the time on your board. I'm an electrical engineers. I'm
dealing with all of these kind of things all the time. So yeah,
I tutor physics on the side. So yeah, you can tell. So could you
take a minute, maybe tell people about the protection portal
because you've been in it for a little while. And you know how
people grow and what's happening what what it's really
all about. Maybe you could share that for a minute.
Yeah, I am a storybook author, and a coach to help people get
their storybooks written and self published. So not only am I
writing and so I'm dealing with copyrights, but then because
it's storybooks, I'm contracting with an illustrator. So now I've
got contracts, I've got legal agreements, I've got licensing
and copyrights and considering like, who owns what, how do we
sort this out when it makes money if we want to go do this
with it? Then the whole AI enters the picture. And where
does that play in with writing and storybooks and illustration?
So there has been so many questions. And all I can say is,
if I had had to pay per hour to get all these questions
answered, I, I wouldn't have gotten them answered. There's
just it. It ends up being so much so many. Yeah. So being
able to come into this group and ask questions in the Porter
being able to check in with people, being able to post my
questions to see if Peter can answer them if he can address
them in in the monthly meetings. It's just been so so amazing.
And it has been able not only for my storybooks, but now that
I'm coaching, I can increase the value that I'm offering my
customers. Because now I understand better how to talk
about things like contracts and licensing and copyrights. And I
was just talking with I just finished a challenge last week.
And I was talking with this about the people and they're
like, I didn't even think about protecting what I'm writing. And
I'm like, Oh, we need to talk. So there's, there's just he's
just it's opened my eyes to so many little nooks and crannies
of being able to do this right from the beginning. I really
want to avoid paying. I love paying Peter to help me learn
and help me move forward. I do not want to have to pay Peter to
undo a mess. So I figure I will pay him on the front side.
And I will invest in doing this the right way
because nothing's worse than seeing your stuff out there.
And now you're like, oh my gosh,
now I have to pay through the nose to try to get it back.
And so it's been an amazing group.
The people in it are just high caliber,
quality answering questions with questions,
always checking in with Peter.
And I found I've been able to even answer questions
in other communities I'm in.
I was in one of the other-
That's really valuable.
I mean, what Jill just said,
just so I can harp on this guys,
is that you increase your value with what you know.
All right, so if you're competing in the industry
against other individuals, but you understand IP,
you increase your value,
which means you can increase the cost of your products,
your services, you can increase your billing rate,
whatever it is, you can increase it
because you have a level of knowledge
that other people don't have.
Now, the beauty of the package
is that you go into a group for a full year.
So as you're working with others and they have questions,
you're not going on YouTube to try to figure out an answer
and then say, okay, is what they're saying true or not?
I might be taking information from someone
who really doesn't know what they're talking about
and giving false information to others.
What people are doing in the protection portal
is they're bringing that to the group.
And they're saying, look,
people in my group are asking this question,
what's the answer?
We tell them the answer, they now take it to their group,
which keeps their value very high,
which allows them to bill more,
allows them to provide a premium product
that other people can't provide
because they stand out above the competition,
which is helpful.
And it allows them to be a better steward,
serve others better.
So, yeah.
Thank you so much, Jill, for jumping on.
Thank you, Peter.
Thank you.
This has been, it's wonderful to be a part of this community.
Thanks.
Well, I love having you here
because you bring so much energy, honestly, to this group.
I just adore you.
You're so awesome.
You and your son.
Yeah.
Just so good.
That's good.
All right, so guys,
if you have questions, you can DM me separately.
Enough of this.
I just want to make sure you understood everything
about what we're giving here.
This is unique.
You're never going to see a lawyer do this.
Lawyers don't do this.
I bill at 600 bucks an hour.
I mean, honestly, 10 hours of my time,
I bill six, that's $6,000.
You know, it's just,
there's easier ways for us to make money,
but this is the way to serve well.
That's why we're doing this, okay?
All right, so with that,
I want to jump into patent law.
I'm going to hit major areas of patent law,
and the reason why is because
a lot of people don't understand in patent law,
patent law is very unforgiving.
It's one of the most dangerous areas of IP.
There's the most lawsuits for malpractice.
It is the most vicious area lawsuits for millions of dollars.
One patent litigation matter
will cost you upwards of a million dollars, literally.
This is literally another reason
why I put together this challenge in general
is so people can understand this.
Because imagine running a company,
selling a product two, three years,
all of a sudden somebody sends you a cease and desist letter
or they file a lawsuit against you,
and they say, I want a quarter of a million dollars,
and I want you to stop selling the product now.
And literally, your company crumbles because of this.
So it was really important to me to put together something
that'll give you the information
so you don't run into these problems.
So let me talk about patents for a little while,
and we're going to hit the statutory bars, what they are,
ways to save money, right?
Because there's ways to save money in the patent world
that most people don't know about.
I'll talk about that,
and we'll break it down in a little detail.
Now, a special bonus that I offered before I forget.
On Monday, I decided to give you a special bonus.
It's going to be a half hour.
I'm going to give you a briefing,
a live briefing on how to do searches for logos, okay?
Like, how do you actually, if you have a logo,
how do you determine whether or not the logo you have
could potentially infringe somebody else's logo, right?
Because you can't just type a word in,
like, the logo isn't a word.
Like, you have to figure out how do you get a search.
You can't take the picture,
upload it, and search the USPTO website.
That doesn't work.
So you have to figure out how they work.
I'm going to show you the secret
to working with the USPTO website on how to do logos.
Is that helpful to you guys?
That's going to be Monday, yeah?
Okay, cool.
If most of you guys like that, then I'll do that.
Ron is so excited.
Who is?
Ron.
Ron?
I just love Ron, period.
He's great.
Ron, you better get in the protection portal, man.
That's all I have to say.
At least get in there, all right?
We'll talk later.
But the whole point being that,
I think if you can figure out how to do the logo searching.
Oh my gosh, it makes your life a lot easier.
Because when you hire GoDaddy,
when you hire graphic artists,
they don't, guys, please hear this, all right?
Please hear this.
They don't search for you.
They're not doing trademark searches, guys.
You're hiring them to create some kind of graphic for you,
and they are not searching.
That means what they're giving you
may in fact commit trademark infringement.
When you hire these companies, ask them,
are you doing a trademark search?
I guarantee you, 99% of them will say no.
Okay, you need to understand that.
Before you sign off on the new design
that was created for you for your logo,
go do what I'm gonna teach you Monday how to do.
Do your own search and determine whether or not
the logo that was created for you
potentially infringed somebody else's logo.
Because if you don't,
you will spend 2,500 bucks, $5,000, $8,000
for a new logo that literally you can't use.
And that is, that's unfortunate to say the least.
I did a deal with GoDaddy.
I told them what to create.
I told them what to create for my logo.
They had the toughest time doing it.
Then finally they got it right.
And I had them assign a right title and interest to me,
but I did my own search beforehand.
So make sure you're doing the search, okay?
And I'm gonna do that for you Monday.
So you'll be just fine.
All right, what's a patent?
A patent is a grant by a government
that allows you to stop others
from making, using, selling,
or importing whatever has been patented.
That's what it is.
It's a grant by a government that allows you to stop others.
Notice I didn't say make.
I did not say a patent allows you to make anything
because a false belief that most people have
is that patents allow you to make things.
They don't.
Okay, if the reason why you're filing a patent
is because you wanna make something,
that is the wrong reason to file a patent, all right?
If you wanna make something,
what you do is called a clearance search.
C-L-E-A-R-A-N-C-E, search.
Now in the Facebook group,
I will drop a link for you of at least one company
that I know of that does phenomenal patent searches, okay?
And if you're in VIP,
I'm actually gonna show you how to do today
a patent search live, okay?
I'll do it really quick here.
I'll show you the site here,
but in VIP we'll do it in a lot more detail
so you can see, okay?
All right, so again, it's a grant.
It allows you to stop others
from making, using, selling, or importing.
You get to stop them.
You can't make it.
So if I go and I file a,
I've got so many gadgets on my desk right here right now.
I'm such a geek.
All right, so here, this is a controller, right?
Controller.
Let's say I file a patent on this, all right?
If I file a patent on this thing,
I can stop Nika Smith from making this, right?
She can't make it.
She's like, what?
But I'm so nice.
I know, but I could stop her, right?
But here's the thing is that while I can stop her,
I can't make it.
Because if I make this, there may be a problem.
So I'm going to show you an example of what I mean
that's kind of unique.
I love doing this.
I just, I love doing this.
So I'm going to ask you a question.
You have to pick number one or number two.
Everybody has to pick a number one or number two, right?
Nobody can not answer this, okay?
There are 30 participants.
I should see 30, at least ones or twos, okay?
All right, here we go.
You have an option.
You can own the patent on a stool,
which has a base and three legs,
or you can own the patent on a chair,
which has a base, four legs, and a back.
Which one do you want?
Number one is the stool.
Number two is the chair.
Type in the chat, which one do you want?
Let's see, let everybody type.
Lola, did you throw in an answer yet?
Come on, Lola, that's awesome.
Thank you, she went for two.
She went for two, all right.
All right, that's good, that's good.
Awesome, okay, make sure everybody's done this.
There's a two, there's another one, there's another two.
This is good, this is good.
It's all over the place, that's all right.
At least no-
Somebody wrote three.
That's good.
Can I own both?
All right, Sonia.
Sonia is always thinking outside the box.
She's like, I want to own the whole market.
Can I own them both?
That's good.
I like that.
All right.
So let me explain to you how this works.
A chair has a base and four legs and a back.
Therefore, the chair has at least a base and three legs,
right?
So therefore, it would be more valuable
to have the patent on the stool, because then you
can stop anyone from making the stool
and from making the chair.
Randy's like, yes.
I'm not only a great baseball pitcher,
but I'm a smart patent person too.
It's so good.
So the way it works out is, in the patent world,
you want to own broad claims, like broad claims, OK?
So if you own a base and three legs,
that means if anybody makes a loveseat,
if they make a dining chair, if they make
there's so many things.
Even a sofa can be argued to be a base and four legs.
So for that reason, it should be argued
to infringe the patent on the stool
if it includes a base and three legs at least.
Really important to understand.
So if you get a patent, it doesn't mean you can make it.
It means you can stop others.
Now, the beauty of the patent is that you can now
license it, the rights, to others.
So even if you're not making it, you
can license the rights to use the patent, OK?
All the rights that come with a patent
is the right to stop others from making, using, selling,
or importing.
So if I have the patent on a bicycle,
and I don't want to use Anna Marie as an example
because she's been so nice to me,
but I'm going to do it anyway.
So Anna Marie comes out, and she says, I've got a bicycle,
but I'm going to throw a motor on it.
And so it's a moped.
It has pedals.
It has at least two wheels rotatably connected
to a center mass.
It has a handlebar.
But I added a motor to it.
And so she says, this is a great idea.
So I'm going to file a patent.
And she files a patent.
And then she goes out there, and she starts making the moped.
But I've got the patent on the bicycle, right?
So I see the moped, and I say, well, hold it.
The moped has at least two wheels rotatably
connected to a center mass.
It has a handlebar, which is a steering mechanism.
And it has a braking system.
So therefore, that moped infringes my patent
on the bicycle.
So I might reach out to Anna Marie and say,
Anna Marie, you're awesome.
I love your moped.
I wish I had one myself.
But you need to actually have a license to my patent
on the bicycle if you're going to make the moped.
And then we'd negotiate, well, what's
a reasonable royalty for that?
Because now Anna Marie can take an exclusive license
to the bicycle so nobody else can make mopeds.
She'll literally be the only one who
can make mopeds because I own the patent.
And she got a license to my patent.
Do you see that?
That's how licenses work.
A license gives you rights to somebody else's IP.
Somebody else spent the money getting the patent.
Somebody else spent the money getting the trademark.
Somebody else spent the money getting the copyright.
You run the risk of infringing it,
namely doing what's in that patent or using that trademark
or using that copyright, that painting.
They reach out to you and say, you can't do that.
You take a license.
So you send them certain amounts of money
or whatever the case may be.
You do something for them.
They give you a license so that you can now
use it going forward.
Well, imagine if you own the patent that's really powerful
and everybody has to take a license from you.
Now you can literally sit back and make thousands and thousands
and thousands of dollars in revenue
and you're not making anything.
That's where patents come in.
Patents allow you to stop others from making, using, selling,
or importing, which means you can license your rights
to others.
So what does all this mean?
If you get this brilliant idea downloaded on you,
it may not be that you're supposed
to make the product yourself.
It may be that that idea was bestowed upon you
to give to another or maybe to obtain patent rights
so you can license it to another.
It may not mean that you're supposed
to build a corporation and manufacture that thing.
You need to figure that out.
That's the next step.
You have to figure out, what do I
do with the idea that I receive?
Am I supposed to make it, license it, protect it?
What am I supposed to do?
It may not be that you're supposed
to spend $100,000 making a corporation.
Maybe you're supposed to sell the patent for $75,000.
These are the things you need to think about.
And this is why IP becomes so incredibly powerful.
Now, a patent allows you to stop others
from making, using, selling, or importing.
Patents are expensive, guys.
They are the most expensive of all areas of IP.
IP meaning intellectual property.
They are the most expensive.
They are not cheap, okay?
Not in any way, shape, or form.
A single patent application could cost you
nine to $15,000 just to draft.
I wrote a 230-something page patent
and I charged a client $45,000 for it.
It was one of the first patents ever
on artificial intelligence using neural networks
for computers to be able to create their own language
and speak to each other.
It was a foundational patent.
And I did not feel good about that patent.
I stopped working for the client right after.
I just thought, this is weird, I don't like this.
But in any case, the point being,
patents are billed per hour.
So if you're working with a patent attorney,
ask them the following question.
Ask them if they're willing to draft a patent
for you at a flat fee, all right?
And if they're not willing to do a flat fee,
ask them if they'll cap it.
The reason why I'm telling you this is
I've heard so many horror stories
where somebody gets a quote of $10,000 for a patent
and they end up spending 18,000
because the bills just keep coming month after month
after month after month.
And by the time they're done,
they've gotten 15 different invoices, you know,
and the total cost has been like $22,000
for something that they were originally told
was only gonna cost 12.
Like, you need to control your budgets, all right?
So when you're working with IP attorneys,
ask them beforehand, what's the cost for drafting the patent?
Like, I need to know what is the overall cost.
I need to know, like, how long is it gonna take to draft?
Like, get engaged in this process.
I'm teaching you these things so that you'll be involved.
Instead of dropping your car off at the auto mechanic
and saying, fix everything,
you'll say, just fix the spark plugs by Tuesday.
I'll be back to pick up the car.
That's how you control your costs.
As an entrepreneur, you can't afford to be
just letting lawyers write whatever they want.
You can't afford that.
Many of you are doing bootstrap companies.
Who here knows what bootstrap means?
Yeah, so a lot of you guys are doing, like,
bootstrap companies, using your own money,
you know, retirement money, things like that,
which I would never advise,
but people will do that because they wanna
get a new company running.
And I understand that.
I've done that.
So if that's what you're doing,
your money's very valuable.
So don't just throw it away.
Ask for a budget up front, okay?
Now, something else to keep in mind.
A patent, the life of a patent,
you file the application.
It goes to the United States Patent and Trademark Office
if you're filing it there.
Then all of a sudden, well, that's interesting.
My hands are buzzing.
Interesting.
All right, for those of you who are believers,
when we close, we're gonna pray at the end.
We'll be praying over everybody's businesses, all right?
If you're not a believer,
I would stay and just take the blessing, quite frankly,
because I can't tell you the stuff
that's happened afterwards, so.
But that was a reminder to me, so.
Okay, so you file the patent application.
It goes to the United States Patent and Trademark Office.
It gets examined, all right?
It gets examined by an examiner.
Now, these people are very interesting, okay?
Now, I have to be careful
because they're the ones that basically have the gate
and they're the ones that allow me to get an issue patent,
so I'm not gonna say anything bad about them.
But what I will say is sometimes examiners
are in the wrong art unit,
meaning you file a patent on a cell phone
and you're working with somebody who is a professional
in the area of car motors.
I don't know why they're working on cell phones,
but for some reason they're working on cell phones this week
and so sometimes you'll get an examiner
who really doesn't understand your technology.
So let me give you a hint here,
something that's very valuable.
So please listen to this.
If you have a patent that's in front of the patent office
and you're having trouble getting it allowed,
you can ask for what's called an examiner's interview, okay?
It's called an examiner interview.
In an examiner interview,
you can have yourself and your lawyer
and you can explain the technology.
If you get a really strong suspicion
that after you file your patent,
the person who's examining just has.
no clue what in the world your technology has to do with,
or they're just missing it,
tell them you want an examiner interview, please.
Because the alternative is that your attorney
is gonna continue filing responses to office actions.
And every time they do that,
you're gonna spend another four or $5,000
for every single one.
There's another four grand, another five grand,
another four grand, another five grand.
And it adds up very fast.
It's a lot easier to call the examiner and say,
hey, Ms. Examiner, there seems to be some confusion
with regard to the technology.
Can I explain this to you?
They're more than happy to listen.
And then you talk to them, explain it,
and show them how that's described
in your detailed description, in your written patent.
And I'm telling you, it makes patents issue way faster.
It costs you exponentially less, okay?
Remember, examiner interview, you can do that, okay?
Now, something else to keep in mind.
Since patents are expensive,
the government grant provided something
that's kind of unique.
And I'm gonna take a moment to explain this.
They're called provisional patents, all right?
Provisional patents, P-R-O-V-I-S-I-O-N-A-L,
provisional patents, okay?
Thank you, Larissa.
I should have just read what Larissa wrote,
instead of trying to spell, you know, the user.
So the way these things work
is that it's kind of like a redacted version
of a normal patent, okay?
When you file a patent
and you want to examine at the patent office,
that's called a utility patent.
A utility patent gets examined by the patent office.
A provisional patent does not.
A utility patent has background on the invention,
field of the invention, title,
cross-reference to related applications,
brief description of the drawing,
summary of the invention, detailed description,
abstract claims, and at least one drawing if required, okay?
Basically, it's a lot of stuff.
There's a lot of stuff in a utility patent.
That thing that you send to the patent office
to get examined and hopefully get an issue patent,
there's a lot of stuff in it.
A provisional patent only requires a title
and a detailed description.
That's all that's required.
Now, if a drawing is necessary to understand the invention,
then you should add a drawing.
But besides that, you could have a,
how many people here know what a white paper is?
Just by a show of hands.
Yeah, we got a lot of smart people here.
All right, so a white paper,
it's typically, it's like a technical document
that describes a specific kind of technology
in a lot of technical language.
It shows tests that were done, results of tests,
but it's a very technical document, okay?
How many people know what a thesis is?
How about that?
All right, a lot of people know what a thesis is, right?
So you go through high school, college,
undergrad, grad school, PhD,
you have to provide your thesis, right?
That thesis, you can actually file with the patent office.
Interesting.
I'll tell you a really quick story
that literally scared the living daylights
out of all the students that were in my conference
at Dartmouth College.
I was teaching for Keith,
who was one of the professors who leads a group,
the medical device industry at Dartmouth College, right?
And he said, hey, can you teach some IP,
whatever you feel like teaching?
I said, yeah, sure.
So I get into this category
and I'm about to teach you
about what's called statutory bars, right?
And just so everybody knows,
I'm gonna give you a handout afterwards
on the Facebook group that lays out the statutory bars.
So you don't have to worry
about writing all this stuff down there.
It'll be easier for you.
Okay, so I get in front of them
and I start teaching them about provisional patents.
And then I explain to them what the statutory bars are.
In the statutory bars,
the way they work is that if you perform
any of the following things that I'm about to tell you,
and one year passes, you lose all patent rights, okay?
One year, guys, like if any of the following things
that I talk to you about happens,
and one year passes, you lose all patent rights.
You cannot obtain a patent, okay?
So digging into these, there's three statutory bars.
There's the public use bar, the publication bar,
and the offer for sale bar.
Those are the three bars.
If you offer your invention for sale
and the invention's ready for patenting,
think of like a drawing on AutoCAD
or like you've done a white paper
or there's a thesis on it.
That's ready for patent.
If those two things are together, and more than one year passes since you offer that
thing for sale, it's considered donated to the public, gone.
So think about, you have your own company, and you have a marketing department, and your
marketing department, one of your guys in marketing decides to go to a trade show.
And at the trade show, they offer your invention for sale.
You don't know about it.
Two years pass.
After the two years, you decide to file a patent application.
Your patent's invalid.
Because two years passed since there was an offer for sale of your technology.
This is a big deal, guys.
Companies get into a lot of trouble over this.
People lose patents over this.
People get fired over this, to be clear.
There's a really famous case where somebody who worked for a pharmaceutical company went
to a trade show, did a presentation, talked about their latest drug.
The drug had not, a patent had not been filed yet.
Three years passes, they get FDA approval.
They start selling the drug.
They file for a patent, they get the patent.
Somebody's infringing on the patent, so they sue them.
The people were very clever.
The people that got sued, what they did was they found out that they were at a trade show.
They had the actual handouts that were given out by the guy who was offering the thing
for sale.
They proved it to the court.
The court invalidated the patent.
That pharmaceutical was worth tens of millions of dollars.
And I don't know if you guys know this, but in pharma, it takes a long time to get FDA
approval.
It could take you 15 years to get FDA approval, literally.
That's why some of these drugs are so ridiculously expensive because they've done all these tests,
all these things are not being allowed, finally to get one drug they hit, and they try to
get all their money back on that one drug that hit because the other fives didn't hit.
So now they got the FDA approval, it took 15 years, they got five years left to try
to sell the thing and they run up the cost on everything to try to make their money back.
So in any case, that individual offered the thing for sale, they found out the patent
was invalid.
Who do you think got fired?
They were fired literally the next day when they found out about this.
So just be careful.
The two other stat story bars are the publication bar, but the publication bar basically says
is don't take your invention and make it readily available to the public.
That's really it.
Don't put it on your website.
Don't put it in your funnel.
Don't give handouts about your technology.
Do me a big favor and don't go into a challenge and start talking about your invention, please.
Even if they're saying, feel free to talk about your invention here and we'll give you
ideas of how to modify it.
That's not a good idea.
It's just not smart.
When I'm in certain forums and I hear people say that, I literally go, oh, bad idea.
I don't like that.
So the whole point being, don't make your invention readily available to the public
unless you file a patent first.
That's the publication bar.
The last one is called the public use bar.
That's a little more confusing.
Basically what it says is if in fact your technology is ready for patenting and you're
giving it to a member of the public who's using it for its intended purpose and a year
passes, that's considered a violation of the statutory bar called public use.
So let me make a practical example.
I create a bicycle in my garage.
I give my bicycle to Josiah.
Here, check out this bike.
Ride it around.
And so I'm going to let you ride it around and everything like that and give me a hundred
bucks, bro.
Now, if I get a hundred bucks back, that's a sale.
But if I don't sell it, instead I just give him the bike and I say, just ride it around.
That's it.
I just give it to him.
And he goes in and rides it around.
A few years later, I decide to file a patent.
That's a violation of public use because there's a member of the public who is using it for
its intended purpose.
The bike is intended to ride.
I gave it to Josiah.
He's riding it in the neighborhood.
I can't wait three years and then file a patent on it because the public's going to see it.
The public may want to start doing it themselves.
It's not fair for me to now show up and say, hey, public, you've been using what I made
readily available.
to the public. Now I'm going to sue you. The government doesn't allow that. So you have one
year from the date that a member of the public is using the invention for its intended purpose,
you get one year to actually file a patent application. Now, there's an exception to this
rule. The exception to this rule is called experimental use. And this is the last complicated
thing I'm going to talk about. But experimental use, the way it works is that if you need to get
some feedback about the technology, you can actually give it to somebody. As long as you're
not getting money back, you can give it to somebody, let them test it, and give you feedback.
So now I go to Josiah and I'm like, bro, can you check out this bike and ride it around and let me
know how it feels? I know you're into motocross and stuff like that. I know you like dirt bike
riding. Can you ride this on your paths and tell me how it deals with roots, how it does with hills,
how it does in sand? Give me some feedback. I need your feedback. And Josiah goes out there
and he's using the bike on the trail. And he comes back, he's like, Pete, yeah, this thing
sucks. This is really bad. I hit the sand and the tire fell off. And then I had to take
the tire and walk with the tire in one hand and a bike in another. And this mountain lion
came over. And I'm like making loud noises. This is all your fault, Pete. That's a major
failure. But as you can tell, I have a vivid imagination. But the whole point being that I was
getting feedback from Josiah. I didn't make money on it. I just got feedback from him.
That's called experimental use. I need to get feedback to find out whether or not I can
sell it. If you think of like an alpha version of software, a beta version of software, you're
trying to get feedback on the software. You're not making money on it. It's called experimental use.
So those are the three statutory bars. Public use, publication, offer for sale. If any of those
three things happen, you have one year. Within one year, you must file a patent application.
If you don't, gone. Josiah, what's up? All right. So I was in the chat there. I don't think you saw
it though. So I was asking specifically about what if I have a beta tester or a group of beta
testers that I'm asking to test out my product. And you just said that there's actually an
exception for that experimental. Experimental use. Okay. Perfect. Yeah. It's a lifesaver.
I mean, honestly, because think about it this way. When you create a new product,
you want to test the market. You would love to see how do people respond to this thing. Now,
what you can't do is offer it for sale. What you can't do is make it readily available to the
public, but you can give it to a small group of people, get feedback for modification of it,
for continuous development of it. But it just as a warning, this is an exception to
violating the patent laws, right? This is a violation of a statutory bar. This is basically
like somebody throws you a lifesaver. You're in the middle of the ocean and you're hoping that
it's going to work. So just make sure you do this right. Make sure you have an agreement with
these people that says, we are the beta testers for the software. We're going to give you feedback
within the next three months for further development. We're not paying you for the
software. Now you may pay them. By all means, you could pay them to get some feedback, right?
Because look, this is just going to take time. And so I've got myself a little group here,
and I'm going to give everybody a thousand bucks over the next month to do testing and give me
feedback. That's fine. That's just beta testing. Absolutely fine. I was one of the beta testers for
Dragon NaturallySpeaking way back in the day when it first came out. I received a beta version of
it. And they asked me, what do you think about this Mr. Nieves? Like, do you like the software?
Do you not? I was an attorney at a law firm called Thomas Caden, Horst & Meyer & Risley.
And the people there, I'll talk to you about the NDA in a second, guys. I saw somebody write
something about NDAs. I'll talk to you about that in a second. So I actually worked on the software,
gave them feedback. And then when it was done, they said, you know what? You can keep it,
right? But they had already filed a patent at that point. After they did all the experimental
use, they filed a patent. And then they said, you know what? We appreciate your feedback so much.
We're going to let you keep it. And when we do an upgraded version, we'll send you a free.
upgraded version. So very valuable.
Perfect. This is extremely relevant because actually today I put out a
request to my community for better beta testers on something that I'm putting
together and you're like hitting it right at the perfect time.
Now I know I cannot charge them to participate in the test.
I can pay them if I choose to. Right. And if I were to charge them, it's,
it's not that it's game over. It's that now the clock's ticking one year,
correct?
One year. Yeah. And so that, and again, this is not legal advice.
I didn't even preface for that. I should've started with that. Um,
not legal advice, but, um,
in the experimental use area, that's the way people play this game. Um,
and let me just say something, Josiah,
what you just experienced where you're literally going through something
immediately right now. And I'm talking about that issue right now.
That's what we experienced in a protection portal. Nonstop, literally every month.
This is what happens. Ray's nodding her head.
I'm sure Larissa knows this as well. It's like,
I don't understand how this happens.
The portal, the challenges, even the VIPs, it happens.
It also happens in the audits. It's, it's across everything.
It's like, I don't,
it's gotta be orchestrated by God because I do not get it. It's like,
all of a sudden somebody says, I'm going through that literally right now.
I was like, okay, good. Then let's talk about it in more detail.
And if we're doing it during an audit, you can literally like,
give me your agreement. Like you can literally say, Hey Pete,
and this time I want you to review my agreement. I sure we share it on the
screen. I analyze it. I add indemnification agreements, add new terms,
modify it. Cause it's your time. I don't care what we do during that time.
My job is to help you the best way possible during that time.
So I don't care what we do. Um,
and so that's how a lot of people take advantage of that. All right.
So provisional patents, they cost way less,
way less than utility patents. Okay. Um,
let me talk about NDAs real quick. Cause I'm sure people are thinking, well,
can't I just have somebody sign an NDA and,
and then not violate the statutory bars? Nope. Nope.
The government thought about that. That is not the case.
Just because somebody signs an NDA does not mean that when you disclose things
to them, it's not a disclosure. Um,
it doesn't mean that when you give something to them and they're using it in
the public, it's not a violation of the public use bar.
An NDA has absolutely no bearing on the statutory bars in the
United States, in the United States.
Okay. This is really important to understand.
The United States does not honor NDAs when it comes to statutory bars,
but there are certain foreign countries that do.
You want to learn more about that?
You're going to have to join us in another four years.
Otherwise I'll overwhelm you guys, uh, with too many like this country does.
This one doesn't, we can talk about that separate.
You can tell me about your scenarios and we can,
we can talk about that separate. So, um,
let me talk about NDA for a second here is because I know a lot of you are
dealing with businesses and this is something we cover in a lot of detail in the
protection portal, especially NDAs are wonderful,
but if you're doing an NDA, I would think about actually adding,
adding an NCA, which is non-compete. Okay.
So there are non-disclosure agreements,
which means that the other party is not going to disclose anything,
but then there are non-competes,
which means the other party is not going to do something that competes with you.
This is why when you create an NDA or when you purchase an NDA,
you should see if you can get an NDA combined with an NCA,
very powerful, very powerful combination.
I actually, for a number of my clients, I actually will give them,
all my NDAs have NCAs in them. And then what I do is I say, well,
if the NCA is not appropriate, just remove the NCA, right?
And what the NCA basically says is any of the information that you receive
from me, if you're not aware of it beforehand, you will not compete with me.
All right. That's powerful. I mean, that's a powerful one, two punch.
You say, look, you're not, not only, you're not going to disclose,
like I'm going to disclose this to you here,
but you're not only you're not going to disclose it.
You're not going to compete with me on this subject matter.
That that's a powerful, powerful way to negotiate.
If you can do it very, very strong.
So if you're looking for NDAs, when you talk to your attorneys,
I would ask them for an NCA in your NDA and that would be a,
okay, just an FYI from your guy.
I need to stop. I need to stop.
I need to stop.
I know, I'm going too far, I'm going too far.
I know, I know.
Oh, thank you for the heart, thank you for the heart.
That's awesome, thank you.
You're awesome, love you.
All right, so good.
Okay, let me teach you one more thing
and I think we'll close on this.
Again, Monday, I'm going to be training you
on how to do logo searches.
If you can be there, I would be there if I were you
because number one, it's free, right?
Number two, it's not an obvious thing to do.
It's kind of tricky
and you can make some pretty bad mistakes
which will be painful.
So let me just,
I think I'm going to mention one other thing to you.
When do you file a patent?
Now, if your invention is going to become obsolete
within five years, don't file a patent.
You're going to waste your time and money.
It's just, it's going to take you three years
to get out of the patent office.
Like in different art units,
depending upon the technology,
like microchip fabrication can take you
like PN junctions, quantum cryptography, AI,
oh my gosh, like neural networks.
It's going to take you three years
to get out of patent office.
Cause there's such a backup,
such a log of cases that are before you.
So if it's going to take you that long
to get out of patent office
and your technology becomes obsolete in four years,
you might get six months to a year
in the life of the patent.
In my opinion, and this is not legal advice,
but in my opinion,
I think the one who makes the most
out of that deal is your lawyer.
And I think we as lawyers have an obligation to tell you,
I don't think it's worth it.
This is part of why when you work with a lawyer,
like those of you that are going to do the IP audit with me,
you'll see, I always start out by asking you,
what do you want to be in three years?
What do you want to be in five years?
What is your heart?
Like, are you building something
that you're going to hand off to your children?
Or are you building something up
so an angel investor can come in,
back you up financially,
and then you sell the company within three to five years?
Like, what, are you a serial entrepreneur?
Are you building a company long-term?
Like, what exactly are you doing here?
We dig into that first.
The reason why is because that will change
the way you position your company.
If your intent is just to grab IP and sell it,
that's one thing to understand.
If your intent is to get investors,
IP is extremely important,
because they want to know that you own your stuff.
If you don't own your stuff,
many of them won't even talk to you.
They'll just say, look, you're competing in the industry.
If you have software, India is going to compete with you,
and outbid you easily.
If you have textiles, India's big on there as well.
Thailand's big.
There's a lot of, even Malaysia is pretty decent.
Like, there's different regions,
like microchip fabrication,
China's going to compete with you.
Taiwan's going to compete with you, right?
And so if you don't have any IP rights
associated with your technology,
somebody else is going to be able to come along
and sell it cheaper, do it faster,
and outsell you, which is pretty incredibly painful
when you spent a lot of time and money on your technology.
All right.
All right, let me show you one more thing,
and then we're going to close.
I'm going to just, I think I'm just going to tell you
this thing about the life cycle of a patent.
Okay.
If you go to a patent attorney and you say to them,
hey, can you draft a patent for me?
Please understand that is one component.
The drafting of a patent is one component
of the entire patent cycle.
One component.
After you spend that money on developing of the patent,
which can cost you nine to 12 grand,
typically in that order,
depending on the complexity of the technology.
After you do that and you file it, there's a filing fee.
There's an examination fee.
The United States Patent and Trademark Office
charges you these things, okay?
Now, how many people here are solo inventors?
Meaning, it's just you and you work for yourself.
That's it.
Your own technology, nobody else.
Okay.
All right, we got Barry, we got a few others.
All right, cool.
So here's the thing.
There is a thing with the United States Patent Office
where you can apply as a micro entity, all right?
When you apply as a micro entity,
your fees are cut down exponentially with the patent office.
So remember that word, micro entity.
So if it would typically cost you $1,000 to file a patent,
you're gonna spend less than $500.
I mean, think about it.
So just remember that.
If you're a solo proprietorship or solo individual,
you might wanna look at filing as a micro entity, okay?
Otherwise you can file as a small entity.
If you have 500 more employees,
you have to file as a large entity.
And that's when it gets very, very expensive.
Like some of my clients,
MIT is an education institution, so they spend less.
But Massimo, thousands and thousands
and thousands of employees,
they spend thousands of dollars
just to file a single document
because they're a large entity, all right?
So just remember, micro entity.
Anything you file with the patent office,
always file as a micro entity if you can.
If you qualify, file as a micro entity
so you can save a lot of money.
All right, and then finally,
Jill, is this the third time I said finally?
This is like a sermon.
This is kind of like the pastor in front of people.
And here's the last point I'm gonna talk about, hi.
And then here's another.
I'm gonna say it again, hi.
And then just keep going.
We just don't end.
All right, here's the last part I'm gonna give you.
I just wanna share this with you
because you guys are really absorbing a lot
and I'm getting a lot of good feedback from you guys.
So I just wanna share this last thing with you.
If your technology can be reverse engineered,
file a patent.
Meaning, if I sell this thing to the market
and somebody can break it open
and understand how it works, file a patent, okay?
If I sell something to the market
and nobody can figure out how it works,
think about not filing a patent.
What do I mean by that?
It may be that if your technology
cannot be reverse engineered,
that you can maintain it as a trade secret.
A trade secret can last forever.
A patent lasts for 20 years from filing
and only 20 years from filing, okay?
So if you file it,
it takes three years to get out of patent office.
You get 17 years on the patent.
And there's other stuff that's involved
that we talk about in the portal,
but I'm just keeping it top level for you guys.
So you got 20 years from filing, all right?
Now, if it is not possible to reverse engineer,
you may wanna keep it to yourself
and then you can use it in the market forever,
like a Coca-Cola formula.
If they filed a patent on the Coca-Cola formula,
it would have expired in how many years?
20 years, exactly.
You see that?
Do you have to refile the patent after 20 years?
Great question.
There is no refiling of patents.
When patents expire, they're dead.
Dead, it's over.
There's nothing left, over, all gone, okay?
Now, patents do have things called maintenance fees.
We talk about this stuff again in the portal.
I explain costs of those things.
How do you speculate your overall costs
beginning to end for your budgets?
We talk about all that stuff.
But just understand, when you file, there's one cost.
During examination, there's another cost
because you're fighting with the patent office.
When you patent issues, you're gonna pay an issue fee.
There's another cost associated with that, okay?
So there are multiple parts of paying for a patent.
And with that, that's it, my friends.
That is it.
We have completed our five days.
I've enjoyed spending time with you.
I hope you've enjoyed this as well.
You are all idea protectors, as far as I'm concerned.
Am I going to pray?
Yes, I am definitely going to pray.
I just wanna make sure that I, you know,
just thank you all for being here.
It has been my pleasure to do this.
I've had a lot of interaction
with a lot of you individually.
I hope that a lot of you join us
in the Protection Portal and do the audit.
And if you can't do the audit
and you're interested in the portal,
we'll talk about that Monday, all right?
That's something else that we'll talk about on Monday, okay?
But there's a lot of development that people do there
and they grow so fast.
And I mean, there are countless testimonies.
So it's just an honor doing this.
Larissa, you were raising your electronic hand.
I don't know if you can see a couple of questions.
I'm not doing any more questions.
Okay, no more?
There's just a clarifying, okay.
We've gone about it.
We've done over a hundred questions at this point.
Okay.
So any other questions,
we'll cover in the Protection Portal,
if anybody has other questions, so.
All right, so with that, I'm-
I'm going to close. And just let me pray over people because
just because it's what I do. I'm actually an ordained minister. I
don't go around telling people that because when people hear a
lawyer and minister, they're like, huh? How exactly does that
work? Isn't that working on both sides of the coin? It's like,
no, it's not true. You can actually be a lawyer, a lawyer
and actually love the Lord. So it's all good. Alright, so let
me just. Oh, all right. Yeah, Father, I just want to take this
moment and just acknowledge what you've done in every single
person's life, every person that's here. Well, I just want
to honor that the ideas that you have released from the third
heaven that have been received by your ambassadors here in the
first heaven, for release with glory with fire, with majesty,
Father, in a way that will bring you glory. So Father, so
that your will will manifest and will be on earth as it is in
heaven. Lord, I just lift up everyone's businesses here.
Father, I ask that you can just inspect them. If there are
relationships that do not belong, Father, let them break
in Jesus name. If there are people that are trying to take
advantage of them, that are trying to position them in a way
that would harm them, Lord. Father, I asked that the fire
God would come up against that and that will be pushed back,
back to once it came Lord. Father, I asked for just a
release of angelic intervention in these businesses, Lord, for
supernatural ideas to manifest for any walls or any barriers
that are getting in the way of manifestation of what you're
trying to do in their businesses, and in their lives
for those things to be moved to the wayside now, that the fire
of God would fall upon their homes, upon their relationships,
and the ideas Lord. Father, we ask for supernatural protection
over these ideas. Lord, I just speak into life, new
relationships, divine relationships, the right people
that are supposed to align so that the businesses will excel
with grace and ease, no more struggle, no more fighting. Just
move with grace and ease, Lord. I thank you for wisdom and
discernment to see where things are off. And the boldness and
obedience to make that change, Lord. Even in areas where it's
not accepted, what they're going to do, Lord, I thank you for
grace and ease, to be able to step forward in what you're
calling them to do. Father, I call their minds captive to
Christ. Procrastination, go in, ooh, man, that was sharp.
Procrastination, go now in Jesus name. Now's the time. Father, I
thank you for your presence, your peace in Jesus name. And
just one more thing, neck pains go. All neck pains go now by the
power and authority of the name of Jesus Christ. If you have
neck pain, just turn your head to the left and right. It's all
neck pain, go. Memory of neck pain, go. Muscles, tendons,
ligaments be healed in Jesus name. Thank you for divine
wisdom and discernment, Lord. And grace and ease and
manifestation. Amen.
Amen. Okay. Wow, it got quiet. Got really quiet. It's like
peaceful now. How's your neck, Rhea? Good, huh? That's awesome.
Awesome. Well, bless all of you guys. I will see you in VIP if
you're in VIP. Let's jump in at 8.30. Is that too long? That's
like 14 minutes that I would do 8.30. If you're there earlier,
I'll be there earlier. But we're starting at 8.30. Okay. And I
don't want to say goodbye. I feel so bad though. All right.
Bless all you guys. I gotta go. I'm leaving you with Larissa.
Not goodbye. They show up on Monday for how to search for a
logo. That's true. That's true. So yeah, I'll see you guys.
Yep, yep, yep. Thank you, Peter, everybody. It's been day five.
So before you leave, even if you're VIP, would you take a
moment on a scale of one to 1010 being like the most awesomest
tell us
How has this week been for you?
How wonderful has it been to be here
in the Protect Your Idea Challenge?