WEBVTT

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All right, welcome everybody to day four.

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Everybody you have made it through three full days of training in IP.

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And I've tried to make it simple, or at least simplified, because, you know, I don't like

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hearing legal language, unfortunately, it gets really confusing to people.

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So I try to make this as simple as possible.

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While I know we're covering a lot of material, there's a lot more out there.

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Today we're going to cover some overlap between trademarks and copyrights, and I'm going to

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introduce patents.

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And then tomorrow, we're going to bring it all together, like literally every single

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aspect of this is going to come together.

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So tomorrow, you're going to be able to identify what area of IP is associated with a specific

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scenario.

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I'm going to lay out a company, what the company is considering doing, different assets of

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the company.

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And you're going to look at this yourself, and you're going to say, this is that, this

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is that, this is that.

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And at the end of it, you'll all be copyright attorneys and trademark attorneys and patent

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law attorneys.

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It'll be amazing.

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And so let me do, I'm going to hand this over to Ray, because Ray wants to play this video.

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This is actually a pretty cool video compilation that she put together.

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So thank you for putting this together.

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And I'll just hand it over to you.

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I'll turn off my, my camera.

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Thank you very much.

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Now that I have to go make a new disclaimer for us with Peter making claims to making

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everybody law school graduates, give me just one moment here and we'll get this video shared.

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It wouldn't be amazing if we...

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It's not that difficult to say that.

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Say that, we have a person from our lawyers that has legal prosecution.

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That is amazing.

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Hey Ray.

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Yeah.

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Can you restart it?

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And you have to share the audio too.

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Oh, I have the audio here shared.

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It didn't ask me like it normally does.

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So let me stop and go back in.

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Yeah.

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So it actually shares the audio as well.

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Oh, it's not even letting me stop my share now.

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Hold on.

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Let me try again.

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There we go.

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And take two.

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It wouldn't be amazing if we had an attorney here today.

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That's won every award that you can think of.

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That's been in the game for almost 25 years.

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That has written and prosecuted hundreds of patents.

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That is a master of understanding intellectual property and understands the future and is

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all in on AI.

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And not just as a practitioner of law, but an entrepreneur himself.

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Wouldn't that be sick if I just went out and I got the best.

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And instead of y'all paying him 600 bucks an hour, if you can even get access to him,

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that I just brought him out here right now.

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Roll the intro.

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I just wanted to start right off the gate.

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Really?

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I didn't even know that.

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Congratulations.

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I did.

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Well done.

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Peter jumped on a call and totally fixed our entire landing page from a legal perspective.

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I'm glad we dodged that bullet that we're not going to get in trouble for using any trademark

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language or logos in our page.

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But I'm glad we got to the bottom of this.

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And I'm glad we got to the bottom of this.

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language or logos in our page.

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But highly recommend it if you get a chance to work with Peter.

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You're definitely ripping him off by getting all these things taken care of.

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My props to the generosity that Peter has given us, 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.

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I couldn't endorse it more strongly and Peter himself, he's just one of the best and by just getting that added engagement, you benefit through his tremendous experience, that's the intangible part of all this is the community, Peter's leadership.

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Pete is one of the best IP lawyers in the whole country, just going through this challenge was an amazing, amazing experience for me as a business coach and in itself saved me I think over $1,000.

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To your own defense, Pete is your guy and I highly recommend him and his services.

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Thank you.

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One thing I don't necessarily get from Peter which is why I'm the one who wanted to share that is that Peter does a lot for a lot of big groups and people, and he will never push himself as far as in front of you guys because that's just not quite his nature

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but just to get an understanding more of who he is and why he does what he is doing.

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The ultimate goal is to change the legal industry you guys don't get the opportunity to sit and ask lawyers without paying super hefty bills to do so.

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And so the opportunity to just sit for tremendously lower cost to ask lawyers about all the information you don't really understand what's going on.

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It's just a big opportunity, and it's one that's not out there but that's what he's creating he's making sure that that bridge gets gapped and the communication gets opened so we're just lucky.

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So you guys understand my, my actual hope in doing this is not just obviously to help the public but also to give other lawyers, a framework of how they can reach out to the public, right, so that as this does well what happens is other lawyers see that and

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it transforms the way that they practice as well.

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Also, you mean that I can actually help the public in a large number and a large volume, you know, and not be accountable to a billable hour system like it just kind of shifts the way of thinking.

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And so that's what we're finding is that there's a number of lawyers are actually starting to follow our format, which is really great universities to.

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Yes, we actually received calls from.

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What was the name of the, there were two different universities that reached out Ohio.

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Ohio State states wants us to create a curriculum for them, which we're doing we're doing a series for them as well and then there's another one that just reached out as well.

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And so we just have to buckle down and create the videos for them so that it will become required when I required but one of the options for obtaining credit in their colleges so it's really, it's really enjoyable.

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With that, what I wanted to do today was start out by touching some of the patent law material and then tomorrow. What we're going to do is we're going to actually.

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Ray, can you drop the link for the handout with the scenario.

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Just so that they have it today so then tomorrow.

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It's not like a last minute thing for them.

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That I just came up with, and I put it all together for you so that tomorrow we're going to come back to that scenario and you'll be able to look and see exactly what area of IP pertains to every single part of that corporation, and the functioning of that corporation, and the attempt is that now you'll be able to practice as a business and as you're practicing as a business identify things.

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And even for other people in your network if you're a coach or a trainer, you'll be able to do that for them as well. So, with that being the case I'm going to jump into patent law now.

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And then we're going to cross over a little bit back.

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I know we're going to touch back in the trademarks because a few people had questions actually let me check on something here for the people who are here.

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How many people here would like to get a little more detail on the trademark searching, just by a show of hands so I know.

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Right so 12345 all right there's a number of you. Okay.

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All right, so what I'll do today is I'm gonna start

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jumping into the patent law work.

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Then what I'm gonna do is towards the end,

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I'm gonna go back to trademark searching

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and give you more detailed explanations of what you can do,

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like how to cancel things out,

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what different fields you can use

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in the actual performance of a trademark search,

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which is gonna decrease your costs, okay,

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overall when you're running a company.

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So let me jump in on patent law.

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Mary asked the question of will we go over

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how to do the application for trademarks?

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So the actual preparation and filing of the application

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for trademarks was done in VIP.

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That was part of the package in VIP.

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So the videos for that are in VIP as well.

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So we actually went through a full,

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every single step of the application,

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every single part of an explanation.

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But I'll touch base on different parts of an application

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as we do a search to kind of help you guys out.

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But the application itself is,

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that's one of the features of VIP.

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All right, so patents, what are patents?

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Patents are a grant by a government

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that allows you to stop others from making,

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using, selling, and importing

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what's covered by that patent, okay?

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In the patent itself, there's a thing that's called claims.

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It's all the way at the end.

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It says, I claim, or we claim,

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and then there's a number of different things.

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What's listed in those claims is what you own

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when you have a patent.

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So if you're going for a bicycle,

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and the claims say at least two wheels

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rotatively connected to a center mass,

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a front wheel having an elongated member

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that connects to a handlebar for controlling the front wheel

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for direction of the device, a braking system,

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like all of those elements will be part

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of what's called the claims, okay?

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Where people get really confused is that they believe

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that if you have a patent, you can make something,

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and that's not the case.

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Having a patent doesn't mean that you can make

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what's covered by the patent.

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Having a patent allows you to stop others.

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So just get this really clear.

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If you're building a company, and you create software,

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and you have a software developer working on the software,

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the functionality of the software,

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the steps that are being performed are protectable under,

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potentially protectable under patent law.

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The code associated with the software

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is protectable under, somebody type in the chat,

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what is the code protectable under?

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What body of law?

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The code itself, copyright, exactly, all right?

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So under copyright law, the code's protectable,

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but under, and so here's the way it works,

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is that the code protection is for the exact code

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that's written, right?

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If somebody uses different code

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to cover the same functionality,

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they don't infringe on the copyright.

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This is why you would get a patent,

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because a patent covers the functionality.

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So I don't care what language,

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I don't care what code you use

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to actually cover the functionality,

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you still infringe the patent.

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That's why patents are one of the most powerful areas

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of protection that exist

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under the United States Patent and Trademark Office,

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and in the government, and in and of itself.

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Patent protection is very powerful,

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but remember, it allows you to stop others.

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I get to say, Ray, you can't make this thing,

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I got a patent on it,

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but I can't go and make it myself.

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If I wanna make sure that I can make it,

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I wanna do what's called a clearance search, okay?

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It's called a clearance search,

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C-L-E-A-R-A-N-C-E, clearance search.

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That is, man, you type fast.

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Yeah, that's exactly.

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I have to to keep up with you.

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That's really good.

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That's exactly what you want to do

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before you can make something.

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If you don't do a clearance search,

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if you own a patent, you can stop others,

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but you might still run into a problem.

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So I'm gonna give you a real life scenario.

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You have two choices.

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Everybody here has two choices,

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and you have to pick one or the other.

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Number one is one product,

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number two is a second product, okay?

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The first product is a stool.

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The second product is a chair.

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The stool has a base and three legs.

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The chair has a base, four legs, and a back.

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You can own the patent on the stool,

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or you can own the patent on the chair.

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If you wanna own the patent on the stool,

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type the number one in the chat.

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If you wanna own the.

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patent on the chair, type the number two on the chat.

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And your decision should be based on what you believe

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you would make more money for as the patent owner.

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Okay, so one or two.

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And this is typically what happens,

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you get a good variation of both.

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Okay, so a lot of people type two,

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and a few people type one.

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Okay, so the answer is actually one.

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And let me explain to you why.

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A stool has a base and three legs, right?

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So if the patent covers a base and three legs,

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then when you make the chair,

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which has a base, four legs and a back,

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you actually infringe upon the patent for the stool.

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Because the chair has at least a base and three legs,

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since it has a base and four legs.

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Do you see that?

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So because of that,

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you always wanna own the broader patent.

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So if you own the patent for the stool,

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you could stop people from making a stool,

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from making chairs, from making love seats,

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from making sofas, you could stop them from making benches.

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All of those things could be covered

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just because you own the patent on the stool.

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Because it includes at least a base and three legs,

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since it has a base and four legs and a back.

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This, it's almost like reverse psychology.

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Most people don't understand this.

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So what they do is they try to get patents

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that are very narrow, that cover this specific thing.

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That's the worst thing you can do.

242
00:16:39.880 --> 00:16:41.120
Because if you get a patent

243
00:16:41.120 --> 00:16:43.680
that covers something very specific,

244
00:16:43.680 --> 00:16:47.160
then all somebody has to do is make one slight modification

245
00:16:47.160 --> 00:16:49.320
and they get around your patent, that's it.

246
00:16:50.360 --> 00:16:53.680
So this is why patent protection is so powerful.

247
00:16:53.680 --> 00:16:56.920
If you're a software developer, own the functionality.

248
00:16:56.920 --> 00:16:59.780
If you own the functionality, nobody can write the code.

249
00:17:01.200 --> 00:17:02.600
Because anybody that writes the code

250
00:17:02.600 --> 00:17:05.760
that performs the same functionality infringes.

251
00:17:05.760 --> 00:17:10.400
I don't care if you write it in C, C+, Fortran,

252
00:17:10.400 --> 00:17:14.520
doesn't matter, you still infringe upon the patent

253
00:17:14.520 --> 00:17:17.440
because it's covering the same functionality.

254
00:17:17.440 --> 00:17:19.700
This is the power of a patent.

255
00:17:19.700 --> 00:17:22.220
Now there's different types of patents.

256
00:17:22.220 --> 00:17:24.980
There are what are called design patents.

257
00:17:24.980 --> 00:17:27.500
And then there were called a system patents,

258
00:17:27.500 --> 00:17:30.420
system and apparatus patents, okay?

259
00:17:30.420 --> 00:17:32.700
There are things called plant patents.

260
00:17:33.740 --> 00:17:36.900
So if you can asexually reproduce a plant,

261
00:17:36.900 --> 00:17:39.200
then you can get a plant patent.

262
00:17:39.200 --> 00:17:40.820
Somebody guess that one company

263
00:17:40.820 --> 00:17:42.620
that has a ton of plant patents.

264
00:17:46.460 --> 00:17:50.180
Just type it in the chat, anybody, but Ray.

265
00:17:50.180 --> 00:17:51.580
That's it, Monsanto.

266
00:17:51.580 --> 00:17:53.580
That's right, Pamela.

267
00:17:53.580 --> 00:17:56.380
They have a ton of plant patents.

268
00:17:56.380 --> 00:17:58.020
You know why?

269
00:17:58.020 --> 00:18:02.020
Because they want to be able to create food,

270
00:18:02.020 --> 00:18:04.820
create all sorts of things and stop others

271
00:18:04.820 --> 00:18:07.900
from making the same thing that they've created.

272
00:18:07.900 --> 00:18:11.260
So they asexually create these plants.

273
00:18:11.260 --> 00:18:13.740
I've got my whole opinion on that, but I won't go into that.

274
00:18:13.740 --> 00:18:18.300
So that's just a whole other conversation.

275
00:18:18.300 --> 00:18:21.540
So design patents.

276
00:18:21.540 --> 00:18:24.980
What design patents cover are an exact look of something.

277
00:18:24.980 --> 00:18:27.620
So think of like the Coca-Cola bottle.

278
00:18:27.620 --> 00:18:28.740
I don't have anything over here

279
00:18:28.740 --> 00:18:30.600
that's kind of distinguished in its look,

280
00:18:30.600 --> 00:18:34.360
but here's a glass of water, right?

281
00:18:34.360 --> 00:18:37.460
So you see this like curve that goes inward here

282
00:18:37.460 --> 00:18:39.360
and there's like a dimple there.

283
00:18:39.360 --> 00:18:41.420
Like if I had a design patent on this,

284
00:18:41.420 --> 00:18:45.380
it would cover the exact ornamental design look.

285
00:18:45.380 --> 00:18:46.380
That's it.

286
00:18:46.380 --> 00:18:48.300
It would not cover a vessel

287
00:18:48.300 --> 00:18:52.260
that's capable of holding fluid.

288
00:18:52.260 --> 00:18:53.820
That wouldn't be covered.

289
00:18:53.820 --> 00:18:55.500
What would be covered is the look,

290
00:18:55.500 --> 00:18:57.780
only the look, nothing but the look.

291
00:18:57.780 --> 00:18:59.500
So that means if somebody creates something

292
00:18:59.500 --> 00:19:01.420
with a slightly different look,

293
00:19:01.420 --> 00:19:06.420
they don't infringe the patent as I drink water.

294
00:19:06.660 --> 00:19:09.360
Okay, so that's really important to understand.

295
00:19:09.360 --> 00:19:12.840
So if you've got some kind of really cool design

296
00:19:13.680 --> 00:19:18.440
for a device, you can protect the look of the device,

297
00:19:18.440 --> 00:19:19.880
such as the iPhone.

298
00:19:19.880 --> 00:19:22.100
There are design patents on the iPhone.

299
00:19:23.360 --> 00:19:25.280
Do you notice how the iPhone looks different

300
00:19:25.280 --> 00:19:27.600
from like a Samsung?

301
00:19:28.840 --> 00:19:31.160
The reason why, there was actually a lawsuit

302
00:19:31.160 --> 00:19:34.520
for like hundreds of millions of dollars

303
00:19:35.460 --> 00:19:38.960
associated with cell phones between the two parties.

304
00:19:38.960 --> 00:19:40.280
And it ended up being, you know,

305
00:19:40.280 --> 00:19:43.220
it ended up being worth like tens of millions.

306
00:19:43.220 --> 00:19:44.440
It wasn't into hundreds of millions.

307
00:19:44.440 --> 00:19:48.280
But the whole point being that the Samsung look of the phone,

308
00:19:48.280 --> 00:19:51.200
which I have a Samsung, don't hate me.

309
00:19:51.200 --> 00:19:52.240
I've got a Samsung.

310
00:19:53.680 --> 00:19:55.120
The reason why I've got a Samsung

311
00:19:55.120 --> 00:19:57.660
is because I love this feature here.

312
00:19:57.660 --> 00:19:59.960
Like on the bottom here, it's got this pen.

313
00:20:00.000 --> 00:20:06.080
Love that that's like my favorite so I can sign documents. I could do whatever I want. It's really cool

314
00:20:06.080 --> 00:20:11.400
I can use it to take pictures from long distance. It's got a really good camera. I'm not trying to sell them

315
00:20:11.400 --> 00:20:16.160
I'm just telling you so anyways this look though is very different from an iPhone

316
00:20:16.640 --> 00:20:23.600
That's because I Apple owns the look you have an app you have an iPhone. Is that an iPhone Rose? No

317
00:20:24.400 --> 00:20:26.400
Who's got an iPhone?

318
00:20:27.400 --> 00:20:29.400
And I showed it

319
00:20:31.120 --> 00:20:33.120
There you go, all right, so raise

320
00:20:33.280 --> 00:20:38.760
Ray pick up yours. Do you see how hers is more Kurt has more of a curve around the sides?

321
00:20:39.120 --> 00:20:43.280
You notice how this is square and look that's intentional

322
00:20:44.280 --> 00:20:50.040
Apple owns that look that's why you won't find other phones that look like that or they'll sue the company

323
00:20:50.400 --> 00:20:52.400
Just for looking like their phone

324
00:20:52.960 --> 00:20:59.440
Very interesting. All right, so design patents can be really powerful, but just keep in mind that

325
00:21:00.080 --> 00:21:02.080
Number one, they're less expensive

326
00:21:02.400 --> 00:21:06.040
That's awesome. So you can actually own your look at like

327
00:21:06.680 --> 00:21:09.640
2,500 bucks to follow a design patent even cheaper

328
00:21:10.200 --> 00:21:16.840
Depending on if you do all the design work yourself like the if you have all the images done, so very inexpensive

329
00:21:17.840 --> 00:21:23.800
Utility patents are much bigger like patents that cover an apparatus a system

330
00:21:23.800 --> 00:21:27.680
It includes a utility patent includes a title

331
00:21:28.520 --> 00:21:32.760
cross-reference to really related applications fill of the invention background the invention

332
00:21:33.240 --> 00:21:39.720
Summary of the invention detail description brief description of drawings abstract claims and at least one drawing if required

333
00:21:40.040 --> 00:21:47.360
All those parts are part of a utility patent that gets examined by the patent office that's a lot that's a big document

334
00:21:47.720 --> 00:21:48.800
Okay

335
00:21:48.800 --> 00:21:50.800
design patent

336
00:21:50.920 --> 00:21:52.760
It's like two pages

337
00:21:52.760 --> 00:21:59.280
That's it. It's so short. So you shouldn't be paying a lot of money for a design patent if you're having one done

338
00:22:00.200 --> 00:22:01.320
Okay

339
00:22:01.320 --> 00:22:03.320
now

340
00:22:04.280 --> 00:22:06.280
You

341
00:22:06.720 --> 00:22:11.680
Can use patents for multiple reasons you can use them to let's say you have a new technology

342
00:22:12.160 --> 00:22:16.680
That you come up with you can follow a patent and then you can license it to another party so you can make money

343
00:22:16.880 --> 00:22:20.480
You can use them as what's called an intangible asset

344
00:22:20.680 --> 00:22:26.760
So if you have any patents within your company if you have any trademarks within your company if you have any copyrights within your company

345
00:22:27.240 --> 00:22:31.240
when they do a valuation of your company for purposes of

346
00:22:31.960 --> 00:22:36.840
Obtaining a loan for your company make sure you include your IP

347
00:22:38.400 --> 00:22:41.280
Because that's going to increase the value of your company

348
00:22:41.280 --> 00:22:46.360
Which is going to result in you be being able to get more money at a lower interest rate

349
00:22:47.080 --> 00:22:50.480
You understand because you have a higher value of your company

350
00:22:50.480 --> 00:22:54.520
So don't forget your IP like do an assessment of the value of your IP

351
00:22:55.240 --> 00:23:01.400
Include that in the assessment of your company and now increase the value of your company which will get you more money at a lower

352
00:23:01.400 --> 00:23:04.360
Interest rate. Okay, where are you trying to say something?

353
00:23:04.880 --> 00:23:08.920
Yeah, you guys ever noticed if you've ever watched like shark tank

354
00:23:09.320 --> 00:23:16.800
Whenever someone brings up that they own their intellectual property all of a sudden all the sharks perk up and then their offers start hammering

355
00:23:17.240 --> 00:23:23.080
because it makes you more valuable having owning and securing your IP is

356
00:23:24.040 --> 00:23:26.760
Huge for the successful they wear it like a trophy ring

357
00:23:27.400 --> 00:23:28.440
It's true

358
00:23:28.440 --> 00:23:29.680
It is really true

359
00:23:29.680 --> 00:23:35.520
And that's that's one of the things that are used over people who are starting out is that most of the people who are starting?

360
00:23:35.520 --> 00:23:37.320
out unlike yourselves now

361
00:23:37.320 --> 00:23:42.480
Have no idea about IP and so the larger companies come in and just swallow them whole

362
00:23:42.640 --> 00:23:47.800
Because they own the IP and they can just shut the other guys down because the other people don't know anything about it

363
00:23:47.800 --> 00:23:52.560
So should you seek a patent or not? Like should I file for a patent? Should I not?

364
00:23:53.080 --> 00:23:59.800
What kind of things should you look at number one if this thing's gonna be obsolete in three to five years don't file a patent

365
00:24:01.360 --> 00:24:05.160
All right that look that's not legal advice this is not legal advice

366
00:24:06.960 --> 00:24:08.960
But

367
00:24:09.520 --> 00:24:15.120
I'm telling you it's a waste of time and money because it's gonna take you two to three years to get out of the

368
00:24:15.120 --> 00:24:20.560
Patent office. So that means you have IP rights for like a year to two and that's it

369
00:24:21.080 --> 00:24:25.800
Why in the world would you spend ten thousand dollars on a patent application that becomes

370
00:24:26.000 --> 00:24:29.320
You know with a patent you get like a year and a half of life in the pot

371
00:24:30.000 --> 00:24:33.760
Makes no sense. I I would not I wouldn't do that

372
00:24:33.960 --> 00:24:40.800
Next thing if your idea cannot be reverse engineered meaning when I put this shaver out

373
00:24:40.960 --> 00:24:42.960
There's a shaver, right?

374
00:24:43.120 --> 00:24:45.360
When I put this shaver out on the market

375
00:24:46.080 --> 00:24:51.440
People can open this thing and see all the parts of it and determine how to make it, right?

376
00:24:53.640 --> 00:25:00.160
Because of that it is what's called reverse engineerable if what you have can be reverse engineered

377
00:25:00.000 --> 00:25:02.920
you want to be able to protect that.

378
00:25:04.140 --> 00:25:05.860
Because the second you sell it in the market,

379
00:25:05.860 --> 00:25:08.380
other people are going to be able to make it.

380
00:25:08.380 --> 00:25:11.780
So if what you have can be reverse engineered,

381
00:25:11.780 --> 00:25:13.380
meaning when you sell it into the market,

382
00:25:13.380 --> 00:25:15.320
somebody can create the same thing,

383
00:25:15.320 --> 00:25:18.820
those are the kind of things you want to own a patent for.

384
00:25:18.820 --> 00:25:21.140
If it can never be reverse engineered,

385
00:25:22.220 --> 00:25:25.480
like nobody will ever be able to figure this thing out,

386
00:25:25.480 --> 00:25:27.280
because as an example,

387
00:25:28.240 --> 00:25:30.980
you've got a software company

388
00:25:30.980 --> 00:25:32.680
and the functionality of the software

389
00:25:32.680 --> 00:25:35.640
is on the backend on a server,

390
00:25:35.640 --> 00:25:38.200
like that's where it's saved on the server,

391
00:25:38.200 --> 00:25:40.440
nobody has access to it.

392
00:25:40.440 --> 00:25:42.360
You don't even have to bother filing a patent

393
00:25:42.360 --> 00:25:44.040
in those kinds of situations

394
00:25:44.040 --> 00:25:47.400
because nobody's ever going to see the technology.

395
00:25:47.400 --> 00:25:49.460
They're never going to reverse engineer it.

396
00:25:49.460 --> 00:25:50.720
So then you can maintain it

397
00:25:50.720 --> 00:25:55.560
as what's called a trade secret, okay?

398
00:25:55.560 --> 00:25:59.160
A trade secret lasts forever.

399
00:25:59.160 --> 00:26:02.880
It has the potential of lasting forever, no expiration.

400
00:26:02.880 --> 00:26:06.020
A patent lasts for 20 years from filing.

401
00:26:08.020 --> 00:26:09.400
So if it takes you three years

402
00:26:09.400 --> 00:26:10.600
to get out of the patent office,

403
00:26:10.600 --> 00:26:13.120
that means the life of the patent is 17 years.

404
00:26:15.200 --> 00:26:16.800
It depends upon how long it takes you

405
00:26:16.800 --> 00:26:17.920
to get out of the patent office,

406
00:26:17.920 --> 00:26:20.000
that's how long you're going to have legal rights.

407
00:26:20.000 --> 00:26:24.440
But it's always a maximum of 20 years from filing,

408
00:26:24.440 --> 00:26:28.920
never more than that, okay?

409
00:26:28.920 --> 00:26:32.680
So you need to make a determination yourself

410
00:26:32.680 --> 00:26:35.280
regarding any technology that you come up with

411
00:26:35.280 --> 00:26:36.860
or a method that you come up with

412
00:26:36.860 --> 00:26:40.360
because methods can be protectable under patents as well.

413
00:26:40.360 --> 00:26:44.040
So if you have a method and you're thinking,

414
00:26:44.040 --> 00:26:45.200
well, there's nobody in the world

415
00:26:45.200 --> 00:26:46.720
who's going to be able to reverse engineer this,

416
00:26:46.720 --> 00:26:48.400
then don't file a patent.

417
00:26:48.400 --> 00:26:52.320
Don't spend 10, $15,000 getting legal rights

418
00:26:52.320 --> 00:26:53.920
is something that nobody's ever going to be able

419
00:26:53.920 --> 00:26:57.120
to figure out, right?

420
00:26:57.120 --> 00:26:59.440
Unless like you want to be able to say,

421
00:26:59.440 --> 00:27:02.060
well, if somebody ever does come up with this,

422
00:27:02.060 --> 00:27:03.480
I want to be able to stop them.

423
00:27:03.480 --> 00:27:05.920
But if that's not the case, I wouldn't file a patent.

424
00:27:05.920 --> 00:27:07.800
I'd save your money.

425
00:27:07.800 --> 00:27:09.280
I'd practice the thing.

426
00:27:09.280 --> 00:27:11.440
Nobody can reverse engineer it

427
00:27:11.440 --> 00:27:14.640
and just take over the marketplace

428
00:27:14.640 --> 00:27:15.680
because everybody needs you

429
00:27:15.680 --> 00:27:17.720
because nobody can figure it out.

430
00:27:17.720 --> 00:27:21.880
If that's not the case, then you go with a patent, all right?

431
00:27:22.720 --> 00:27:26.720
But remember, a trade secret can potentially last forever.

432
00:27:26.720 --> 00:27:28.520
That's a long time.

433
00:27:28.520 --> 00:27:31.600
So I would much rather have something that can last forever.

434
00:27:31.600 --> 00:27:36.280
Finally, the last part is if you're going to file a patent,

435
00:27:36.280 --> 00:27:37.400
please do this thing.

436
00:27:37.400 --> 00:27:40.000
And I'm sharing this with you because I care about you guys

437
00:27:40.000 --> 00:27:41.640
in case you haven't figured it out by now.

438
00:27:41.640 --> 00:27:43.240
I care about you guys.

439
00:27:43.240 --> 00:27:44.800
I don't want you to get into situations

440
00:27:44.800 --> 00:27:46.520
that you don't need to be in.

441
00:27:46.520 --> 00:27:48.740
Ask about all the fees upfront.

442
00:27:50.360 --> 00:27:51.440
What do I mean by this?

443
00:27:51.880 --> 00:27:53.400
And just to be clear,

444
00:27:53.400 --> 00:27:56.400
every time that you're working with an attorney,

445
00:27:56.400 --> 00:27:57.720
what I try to do in this training

446
00:27:57.720 --> 00:27:59.840
is give you a lot of practical stuff.

447
00:27:59.840 --> 00:28:01.800
Every time you work with an attorney,

448
00:28:01.800 --> 00:28:03.120
ask about all the fees.

449
00:28:05.520 --> 00:28:08.120
You file a trademark application.

450
00:28:08.120 --> 00:28:10.280
Well, something's going to happen after you file it.

451
00:28:10.280 --> 00:28:15.280
It doesn't go away into this theoretical abyss

452
00:28:16.080 --> 00:28:19.880
and then come out with, oh, it's a trademark.

453
00:28:19.880 --> 00:28:20.880
That doesn't happen.

454
00:28:21.760 --> 00:28:24.640
It goes into the United States Patent and Trademark Office.

455
00:28:24.640 --> 00:28:26.500
It gets examined.

456
00:28:26.500 --> 00:28:28.920
And after it gets, oh, Ray,

457
00:28:28.920 --> 00:28:31.440
you're not going to write this down as a timestamp.

458
00:28:31.440 --> 00:28:32.440
Oh my gosh.

459
00:28:32.440 --> 00:28:37.060
So you actually get an examiner who looks at it.

460
00:28:37.060 --> 00:28:38.980
The examiner does an examination.

461
00:28:38.980 --> 00:28:41.760
They give you an office action or a rejection

462
00:28:41.760 --> 00:28:43.120
or they allow it.

463
00:28:43.120 --> 00:28:45.120
Then it goes through an opposition proceeding,

464
00:28:45.120 --> 00:28:47.240
meaning it's published for 30 days.

465
00:28:47.240 --> 00:28:50.460
If it goes through that time period and nothing happens,

466
00:28:50.460 --> 00:28:52.140
then you get a registration.

467
00:28:52.140 --> 00:28:55.060
So you're paying not only for the original application,

468
00:28:55.060 --> 00:28:56.660
like as an example,

469
00:28:56.660 --> 00:28:59.860
for those who don't fully graph the value of that package

470
00:28:59.860 --> 00:29:02.900
that we put together for the IP audit,

471
00:29:02.900 --> 00:29:04.360
this really speaks towards that

472
00:29:04.360 --> 00:29:08.220
because you're getting the full application filing fee

473
00:29:08.220 --> 00:29:10.720
plus the United States Patent and Trademark Office fee,

474
00:29:10.720 --> 00:29:13.460
all covered all the way up to a first office action.

475
00:29:13.460 --> 00:29:17.940
So that means 10 months worth of anything is all included.

476
00:29:17.940 --> 00:29:20.340
So when you talk to an attorney,

477
00:29:21.180 --> 00:29:22.460
I don't care who the attorney is

478
00:29:22.460 --> 00:29:24.260
and I don't care if it's me or not.

479
00:29:25.260 --> 00:29:27.420
If you're working with an attorney

480
00:29:27.420 --> 00:29:29.100
and you're filing a trademark application,

481
00:29:29.100 --> 00:29:31.940
ask them, what's the total cost?

482
00:29:31.940 --> 00:29:34.020
What's the potential total cost?

483
00:29:34.020 --> 00:29:37.220
Now, they may not be able to tell you the exact costs,

484
00:29:37.220 --> 00:29:38.820
but they should be able to say to you,

485
00:29:38.820 --> 00:29:40.620
well, you know what?

486
00:29:40.620 --> 00:29:43.380
Filing an application costs X.

487
00:29:43.380 --> 00:29:46.140
After the filing, we're going to get an office action.

488
00:29:46.140 --> 00:29:48.180
You're going to get charged for the docketing,

489
00:29:48.180 --> 00:29:50.220
the reporting, you'll get charged

490
00:29:50.220 --> 00:29:53.960
for the reporting of the office action.

491
00:29:53.960 --> 00:29:56.900
You also get charged for the publication.

492
00:29:56.900 --> 00:29:58.660
That's going to cost this.

493
00:29:58.660 --> 00:30:00.660
Once you get the office action, we'll.

494
00:30:00.000 --> 00:30:02.040
see the number of rejections,

495
00:30:02.040 --> 00:30:03.380
chances are it's gonna cost you

496
00:30:03.380 --> 00:30:06.880
between 500 and $1,000 to respond.

497
00:30:06.880 --> 00:30:09.800
Then once the case gets allowed,

498
00:30:09.800 --> 00:30:11.880
it gets published for 30 days,

499
00:30:11.880 --> 00:30:14.720
we're gonna have to docket that and report it to you.

500
00:30:14.720 --> 00:30:18.320
And then finally, when it's issued as a certificate,

501
00:30:18.320 --> 00:30:20.520
we'll have to docket and report the certificate

502
00:30:20.520 --> 00:30:22.240
and mail it out to you.

503
00:30:22.240 --> 00:30:24.320
Like, ask them those questions.

504
00:30:24.320 --> 00:30:26.200
Most people don't even know that.

505
00:30:27.200 --> 00:30:30.520
So, you know, if you're running your own company,

506
00:30:30.520 --> 00:30:32.880
you need to understand all the fees,

507
00:30:32.880 --> 00:30:36.720
and then time-wise, when do I get hit with what fee?

508
00:30:36.720 --> 00:30:38.680
That's very important to understand.

509
00:30:38.680 --> 00:30:41.440
Especially if you're like on the board of a company,

510
00:30:41.440 --> 00:30:43.040
or you're working with other people,

511
00:30:43.040 --> 00:30:44.440
and you make a suggestion,

512
00:30:44.440 --> 00:30:46.320
hey guys, we should file a patent.

513
00:30:46.320 --> 00:30:48.080
And they all go, that's great, what does it cost?

514
00:30:48.080 --> 00:30:49.480
And you say, 10 grand.

515
00:30:49.480 --> 00:30:52.560
They're like, we got a budget for that, no problem.

516
00:30:52.560 --> 00:30:54.040
Well, that covered filing.

517
00:30:57.200 --> 00:31:01.640
After you file, something's gonna happen.

518
00:31:01.640 --> 00:31:03.720
So that means the United States Patent and Trademark Office

519
00:31:03.720 --> 00:31:06.160
is gonna examine it, and if they reject it,

520
00:31:06.160 --> 00:31:08.400
now you gotta file a response to the office action.

521
00:31:08.400 --> 00:31:12.240
That can cost $3,500 to five grand

522
00:31:12.240 --> 00:31:15.680
to respond to the office action, right?

523
00:31:15.680 --> 00:31:18.920
But what if you didn't tell the people in your company?

524
00:31:18.920 --> 00:31:21.520
You never said to them that, at all.

525
00:31:22.520 --> 00:31:26.360
If you never said that, then your CFO,

526
00:31:26.360 --> 00:31:27.960
the chief financing officer,

527
00:31:27.960 --> 00:31:30.120
who approved the budget that you set

528
00:31:30.120 --> 00:31:32.640
for the company of 10 grand,

529
00:31:32.640 --> 00:31:33.920
is gonna come back to you and say,

530
00:31:33.920 --> 00:31:36.000
why am I spending 50% more

531
00:31:36.960 --> 00:31:38.720
when you said it was only 10 grand?

532
00:31:39.640 --> 00:31:40.960
So now you understand,

533
00:31:40.960 --> 00:31:42.360
anytime you work with an attorney,

534
00:31:42.360 --> 00:31:45.200
ask them, beginning to end, what's the cost?

535
00:31:45.200 --> 00:31:47.120
What's the timeline associated with it?

536
00:31:47.120 --> 00:31:50.440
And they should be able to give you ballpark estimates.

537
00:31:50.520 --> 00:31:54.040
Sometimes they can't tell you everything, obviously,

538
00:31:54.040 --> 00:31:56.640
but it's good to ask them these questions.

539
00:31:56.640 --> 00:31:59.120
Rae, you had your hand up.

540
00:31:59.120 --> 00:32:02.720
Yeah, just a quick insight for you guys, too,

541
00:32:02.720 --> 00:32:05.160
that may not have been super apparent,

542
00:32:05.160 --> 00:32:08.240
but also it's just hard not to, I don't wanna say brag,

543
00:32:08.240 --> 00:32:10.960
but let you guys know one of the perks

544
00:32:10.960 --> 00:32:12.960
of our members get to benefit of,

545
00:32:12.960 --> 00:32:13.960
and it's one of my favorites,

546
00:32:13.960 --> 00:32:18.360
because I personally spent maybe over $1,200

547
00:32:18.360 --> 00:32:22.440
on two very basic legal agreements.

548
00:32:22.440 --> 00:32:24.160
But just because you're talking

549
00:32:24.160 --> 00:32:26.000
about the cost of legal services, Peter,

550
00:32:26.000 --> 00:32:27.680
some of our members get discounted rates

551
00:32:27.680 --> 00:32:29.240
on even our legal agreements,

552
00:32:29.240 --> 00:32:31.760
like an AI business policy for their employees

553
00:32:31.760 --> 00:32:35.200
or anyone they hire, $495.

554
00:32:35.200 --> 00:32:37.080
So just as an example,

555
00:32:37.080 --> 00:32:38.960
some of these are also a perk

556
00:32:38.960 --> 00:32:42.120
of continuing to work with Peter.

557
00:32:42.120 --> 00:32:43.600
And it's not to hard sell you guys,

558
00:32:43.600 --> 00:32:45.000
it's just that, hey, you should know

559
00:32:45.000 --> 00:32:47.520
that you'd get to save down the line even further.

560
00:32:48.880 --> 00:32:51.320
Yeah, well, I mean, in general,

561
00:32:51.320 --> 00:32:52.360
when you're running a business,

562
00:32:52.360 --> 00:32:53.760
there's a number of different agreements

563
00:32:53.760 --> 00:32:54.720
that are important to you,

564
00:32:54.720 --> 00:32:56.320
just so all of you know.

565
00:32:56.320 --> 00:32:58.360
How many of you are starting a business right now,

566
00:32:58.360 --> 00:33:00.120
just out of curiosity?

567
00:33:00.120 --> 00:33:01.520
Okay, all right, so there's a number

568
00:33:01.520 --> 00:33:04.080
of agreements you need, all right?

569
00:33:04.080 --> 00:33:06.240
Number one, you need a non-disclosure agreement,

570
00:33:06.240 --> 00:33:07.720
but in your non-disclosure agreement,

571
00:33:07.720 --> 00:33:11.720
you need a non-compete clause, okay?

572
00:33:11.720 --> 00:33:13.480
Yeah, some people are like, what's that?

573
00:33:13.480 --> 00:33:16.680
All right, so let me explain to you what that means.

574
00:33:16.680 --> 00:33:20.240
If I go, now I know Patty, she's a lovely individual,

575
00:33:20.240 --> 00:33:23.000
she would never do anything deceitful, right?

576
00:33:23.000 --> 00:33:25.920
But let's say I never met Patty,

577
00:33:25.920 --> 00:33:26.960
and I sit down with her

578
00:33:26.960 --> 00:33:28.400
and I've got a non-disclosure agreement,

579
00:33:28.400 --> 00:33:29.280
because I'm gonna talk to her

580
00:33:29.280 --> 00:33:31.160
about this new invention I have,

581
00:33:31.160 --> 00:33:32.720
and it's called a watch.

582
00:33:32.720 --> 00:33:34.600
Nobody's ever had a watch,

583
00:33:34.600 --> 00:33:36.560
it tells time, it's incredible.

584
00:33:36.560 --> 00:33:38.320
You no longer need sundials,

585
00:33:38.320 --> 00:33:40.120
you don't have to stick the sand in the ground

586
00:33:40.120 --> 00:33:42.520
and see what time it is based on the sun.

587
00:33:42.520 --> 00:33:44.120
You could have this 24 hours a day,

588
00:33:44.120 --> 00:33:45.520
it's incredible, right?

589
00:33:45.520 --> 00:33:47.640
So I've come out of my hole in the ground

590
00:33:47.640 --> 00:33:49.440
and I realized this is a great technology

591
00:33:49.440 --> 00:33:50.800
and I wanna file a patent for it.

592
00:33:50.800 --> 00:33:53.040
So I go to meet with Patty,

593
00:33:53.040 --> 00:33:55.120
I have her sign a non-disclosure agreement.

594
00:33:55.120 --> 00:33:58.040
What the non-disclosure agreement says essentially

595
00:33:58.040 --> 00:34:03.040
is that she won't disclose the invention to others, right?

596
00:34:03.320 --> 00:34:06.180
It's a non-disclosure agreement.

597
00:34:07.080 --> 00:34:09.440
What I didn't agree to with her,

598
00:34:09.440 --> 00:34:11.159
and what she didn't agree to,

599
00:34:11.159 --> 00:34:12.719
is not to compete with me.

600
00:34:13.159 --> 00:34:18.159
That's a very different thing, okay?

601
00:34:18.920 --> 00:34:20.360
Patty can go back and go,

602
00:34:20.360 --> 00:34:21.600
okay, I'm not gonna disclose,

603
00:34:21.600 --> 00:34:23.400
and I don't even like saying this for Patty

604
00:34:23.400 --> 00:34:24.480
because she's too nice.

605
00:34:24.480 --> 00:34:25.940
So I'm just gonna say Sam,

606
00:34:25.940 --> 00:34:27.560
there's nobody named Sam here.

607
00:34:27.560 --> 00:34:28.400
Good, all right.

608
00:34:28.400 --> 00:34:30.880
So Sam, I can't put you through this Patty,

609
00:34:30.880 --> 00:34:33.480
like I was starting to feel bad just using your name.

610
00:34:33.480 --> 00:34:35.840
So this person's Sam, right?

611
00:34:35.840 --> 00:34:37.620
This guy's, I'm talking to Sam,

612
00:34:37.620 --> 00:34:40.560
and since I have a non-compete clause,

613
00:34:40.600 --> 00:34:43.280
what that means is that not only can Sam

614
00:34:43.280 --> 00:34:46.760
not disclose it to Natalie, who's his friend,

615
00:34:46.760 --> 00:34:50.800
but Sam can't even create something that competes with me.

616
00:34:52.280 --> 00:34:55.520
I just locked him out of making a watch.

617
00:34:55.520 --> 00:34:56.420
Do you see that?

618
00:34:57.520 --> 00:35:00.240
So not only can Sam not talk about the watch,

619
00:35:00.000 --> 00:35:03.240
with Natalie, but Sam can't even build a company

620
00:35:03.240 --> 00:35:05.100
that makes watches.

621
00:35:05.100 --> 00:35:07.860
That's the power of a non-compete clause

622
00:35:07.860 --> 00:35:10.040
in a non-disclosure agreement.

623
00:35:11.540 --> 00:35:13.900
Okay, that's powerful.

624
00:35:13.900 --> 00:35:17.040
That's why any non-disclosure agreement you get,

625
00:35:17.040 --> 00:35:18.900
make sure it has a non-compete clause in it,

626
00:35:18.900 --> 00:35:19.880
if you can get it.

627
00:35:20.900 --> 00:35:24.660
And if the other party signs that, that's powerful.

628
00:35:24.660 --> 00:35:28.820
You just locked down a market, which is really nice.

629
00:35:28.820 --> 00:35:30.660
So that's one thing that you need.

630
00:35:30.660 --> 00:35:32.280
Another thing that most people need,

631
00:35:32.280 --> 00:35:33.300
if you have a website,

632
00:35:33.300 --> 00:35:35.460
how many people have a website or a funnel?

633
00:35:36.460 --> 00:35:37.540
Okay.

634
00:35:37.540 --> 00:35:40.940
And how many of you have people ordering things

635
00:35:40.940 --> 00:35:43.300
from your website or your funnel?

636
00:35:43.300 --> 00:35:44.140
Anybody?

637
00:35:44.140 --> 00:35:45.100
Nobody.

638
00:35:45.100 --> 00:35:45.920
All right, one.

639
00:35:45.920 --> 00:35:46.760
Okay.

640
00:35:46.760 --> 00:35:49.220
All right, so here's something for you to keep in mind.

641
00:35:50.580 --> 00:35:53.420
They're going to be providing personal information

642
00:35:53.420 --> 00:35:55.340
on those websites or funnels, right?

643
00:35:55.340 --> 00:35:57.580
You want to have some kind of privacy policy.

644
00:35:58.940 --> 00:36:02.020
You want to have a privacy policy in place.

645
00:36:02.020 --> 00:36:03.340
All right, really important,

646
00:36:03.340 --> 00:36:06.580
because the privacy policy is really going to break down,

647
00:36:06.580 --> 00:36:08.220
you know, what can actually happen

648
00:36:08.220 --> 00:36:09.900
with information that's provided.

649
00:36:10.980 --> 00:36:13.340
And so that's very important.

650
00:36:13.340 --> 00:36:16.660
Another thing you're going to want, it's funny.

651
00:36:16.660 --> 00:36:18.540
This is the first time we've actually talked

652
00:36:18.540 --> 00:36:19.380
about all this stuff.

653
00:36:19.380 --> 00:36:21.300
We don't usually go into this,

654
00:36:21.300 --> 00:36:26.260
but there's a lot of people that have a practical skill here.

655
00:36:26.260 --> 00:36:29.220
Right, and sorry to segue us guys,

656
00:36:29.220 --> 00:36:30.820
but when you're talking about legal fees,

657
00:36:30.820 --> 00:36:33.340
like I paid a lot for something very basic

658
00:36:33.340 --> 00:36:37.500
and I didn't even get to benefit from the experience,

659
00:36:37.500 --> 00:36:39.620
the 25 years of experience that Peter had.

660
00:36:39.620 --> 00:36:41.820
I didn't know Peter at the time.

661
00:36:41.820 --> 00:36:44.420
And so I spent a lot of money for very little

662
00:36:44.420 --> 00:36:46.500
and it was a little bit better than going off

663
00:36:46.500 --> 00:36:49.380
of somewhere even more basic, like LegalZoom,

664
00:36:49.380 --> 00:36:51.500
which I knew I wasn't being fully covered,

665
00:36:51.500 --> 00:36:52.580
but so to have this experience.

666
00:36:52.580 --> 00:36:54.220
We've actually had a lot of people,

667
00:36:54.220 --> 00:36:57.140
I mean, this is just an aside separately at the law firm.

668
00:36:57.140 --> 00:36:59.060
We've had a lot of people come into the law firm

669
00:36:59.060 --> 00:37:00.860
because they went through LegalZoom at one point.

670
00:37:00.860 --> 00:37:03.100
Now, just to be clear,

671
00:37:03.100 --> 00:37:05.380
if you've got the most basic situation

672
00:37:05.380 --> 00:37:08.140
and you don't care about the details of the legal stuff,

673
00:37:08.140 --> 00:37:11.020
some of those basic contracts are fine.

674
00:37:11.020 --> 00:37:14.020
Like, you know, if you just don't care about,

675
00:37:14.020 --> 00:37:15.980
you just want to get something signed,

676
00:37:15.980 --> 00:37:18.260
you don't care about a lot of limitations,

677
00:37:18.260 --> 00:37:23.260
but I'm telling you about 70% of the time, it matters.

678
00:37:24.220 --> 00:37:26.380
About 30% of the time, it doesn't matter

679
00:37:26.380 --> 00:37:28.780
because you're never going to run into a legal issue anyway.

680
00:37:28.780 --> 00:37:31.540
But 70% of the time, you want to be really, really careful.

681
00:37:31.540 --> 00:37:35.180
All right, another thing you need, terms and conditions.

682
00:37:35.180 --> 00:37:37.980
You need to have terms and conditions

683
00:37:37.980 --> 00:37:41.220
associated with use of your website or your funnel.

684
00:37:41.220 --> 00:37:44.660
This is where you tell them what they can do,

685
00:37:44.660 --> 00:37:47.260
what they can't do through your content.

686
00:37:47.260 --> 00:37:50.460
This is where you lay out with them

687
00:37:50.460 --> 00:37:53.180
the fact that what you're providing to them

688
00:37:53.180 --> 00:37:56.340
is not medical advice, is not legal advice,

689
00:37:56.340 --> 00:37:58.300
is not business advice.

690
00:37:58.300 --> 00:38:01.780
It's purely provided for information purposes

691
00:38:01.780 --> 00:38:05.820
so that they can gain some level of additional knowledge,

692
00:38:05.820 --> 00:38:09.300
but they should run everything by a professional

693
00:38:09.300 --> 00:38:12.380
before they actually decide to implement anything

694
00:38:12.380 --> 00:38:14.220
that they learned through your training.

695
00:38:14.220 --> 00:38:16.020
If you look at my privacy policy

696
00:38:16.020 --> 00:38:18.180
and you look at my terms and conditions,

697
00:38:18.180 --> 00:38:19.940
that thing is a powerhouse.

698
00:38:20.780 --> 00:38:22.860
The reason why is because I've taken

699
00:38:22.860 --> 00:38:24.340
multiple different iterations,

700
00:38:24.340 --> 00:38:25.780
incorporated different things.

701
00:38:25.780 --> 00:38:28.180
I actually have an IP clause.

702
00:38:28.180 --> 00:38:31.220
And this is what I would encourage you guys as well to do

703
00:38:31.220 --> 00:38:34.020
is if you have any trademarks, any copyrights,

704
00:38:34.020 --> 00:38:36.740
any patents, any trade secrets,

705
00:38:37.620 --> 00:38:42.620
I would have an IP clause in your policies

706
00:38:44.060 --> 00:38:48.620
that specifically says, blah, blah, and blah

707
00:38:48.620 --> 00:38:53.620
are trademarks of XYZ Corporation.

708
00:38:55.180 --> 00:38:57.620
Any use is strictly prohibitive on their blah, blah, blah.

709
00:38:57.620 --> 00:39:00.700
Like I would lay it out, let them know,

710
00:39:00.700 --> 00:39:03.500
hey, look, this trademark, it's mine.

711
00:39:03.500 --> 00:39:05.300
You can't use it.

712
00:39:05.300 --> 00:39:06.660
Like make it very clear.

713
00:39:06.660 --> 00:39:10.060
You should have that in your terms and conditions.

714
00:39:10.060 --> 00:39:12.420
Make it very clear what they can and can't do

715
00:39:12.420 --> 00:39:14.740
when they're using your website or your funnel.

716
00:39:14.740 --> 00:39:17.260
If you don't do that, people will just do anything

717
00:39:17.260 --> 00:39:18.660
because they don't know any better.

718
00:39:18.660 --> 00:39:23.660
I mean, honestly, how many of you actually understood even,

719
00:39:23.900 --> 00:39:27.340
I'd say even half of the stuff that we've talked about

720
00:39:27.340 --> 00:39:28.780
over the last few days?

721
00:39:30.500 --> 00:39:33.580
So we got like rows, you know,

722
00:39:33.580 --> 00:39:36.340
because that, and were you like a paralegal?

723
00:39:38.100 --> 00:39:39.500
So there you have it, right?

724
00:39:39.500 --> 00:39:41.220
Most people aren't aware of these things.

725
00:39:41.220 --> 00:39:43.580
So we can't blame them for not knowing.

726
00:39:43.580 --> 00:39:45.500
So we have to make them aware.

727
00:39:45.500 --> 00:39:48.060
This is why I'm going to show you,

728
00:39:48.060 --> 00:39:50.980
going back to the trademark side for a second here.

729
00:39:50.980 --> 00:39:54.340
This is why when you use trademarks,

730
00:39:54.340 --> 00:39:59.340
you got to make it very clear that you own the trademark.

731
00:40:00.000 --> 00:40:05.360
You can't just um, let me share my screen. You can't just expect people to know

732
00:40:07.440 --> 00:40:09.440
So right at the top over here

733
00:40:10.160 --> 00:40:11.440
it says

734
00:40:11.440 --> 00:40:13.840
The five-day protect your idea challenge tm

735
00:40:15.120 --> 00:40:17.780
So it lets people know. Hey, that's my trademark

736
00:40:18.400 --> 00:40:24.560
Right now technically if I wanted to be really analytical because I am an adjunct professor of law as well

737
00:40:24.880 --> 00:40:28.080
If somebody did this on an exam, I would say it's wrong

738
00:40:30.000 --> 00:40:32.240
The reason why is because it says the five day

739
00:40:33.680 --> 00:40:35.760
Then it says protect your idea challenge

740
00:40:36.560 --> 00:40:39.280
If if I really want to protect the trademark really well

741
00:40:40.000 --> 00:40:43.200
I would have protect your idea challenge all the same font

742
00:40:44.320 --> 00:40:48.000
So there's no question as to the fact that that is the trademark itself

743
00:40:48.720 --> 00:40:49.920
right

744
00:40:49.920 --> 00:40:51.920
But you'll notice when you look through my website

745
00:40:52.880 --> 00:40:54.880
I try to make it clear that

746
00:40:55.440 --> 00:40:58.400
What we're protecting is the embodiments of your idea

747
00:40:59.360 --> 00:41:02.400
Like here protecting for your creative works

748
00:41:03.600 --> 00:41:09.600
Right. I try not to use language here register and share the protect your idea challenge tm

749
00:41:10.080 --> 00:41:12.100
You see how i'm using it's consistent

750
00:41:12.960 --> 00:41:16.160
Over and over i'm saying that because I don't want people to

751
00:41:16.880 --> 00:41:18.880
Start using my name

752
00:41:19.200 --> 00:41:21.200
uh, and even

753
00:41:21.760 --> 00:41:28.000
I'm, not going to tell you which guide is but there's you know, there's billie gene who knows me pedro knows me grant knows me

754
00:41:28.480 --> 00:41:31.760
You know mit knows me, but the whole point being that

755
00:41:32.400 --> 00:41:34.400
one of these four

756
00:41:34.640 --> 00:41:36.400
groups

757
00:41:36.400 --> 00:41:41.380
actually licensed for um members within their community to use their own trademarks

758
00:41:42.400 --> 00:41:43.840
right

759
00:41:43.840 --> 00:41:46.480
But they didn't regulate how the trademarks are being used

760
00:41:47.360 --> 00:41:54.640
So the other people are actually using the trademarks without a tm without a circle r they're using it in a different manner

761
00:41:55.440 --> 00:42:00.960
If you have a license if you have a trademark and you're allowing a third party like I like natalie

762
00:42:01.040 --> 00:42:08.560
She's wonderful. I say natalie you can use uh, protect your idea challenge natalie goes out there and she uses that thing

763
00:42:08.960 --> 00:42:12.400
But she doesn't use a tm. She doesn't use a c a circle r

764
00:42:13.040 --> 00:42:16.000
She doesn't uh, she actually uses it in a descriptive manner

765
00:42:18.080 --> 00:42:20.080
That actually damages my trademark

766
00:42:21.040 --> 00:42:27.440
Because I licensed it to her if she's not using it properly I take the damage not her

767
00:42:28.560 --> 00:42:33.920
So the strength of my trademark decreases because i'm not regulating the use of my assets

768
00:42:34.880 --> 00:42:36.640
Do you get that?

769
00:42:36.640 --> 00:42:39.440
If you have a car and you let your next door neighbor use it

770
00:42:39.520 --> 00:42:44.720
You're watching to see what your next door neighbor does. You don't just say yeah sure use it whenever you want to return it

771
00:42:45.360 --> 00:42:51.200
Go ahead. Otherwise, you know, i'm never going to ask you any questions. No you asked them like how long do you need it?

772
00:42:52.000 --> 00:42:54.400
I need it this weekend. Can I get it back before then?

773
00:42:55.040 --> 00:42:59.120
Hey fill it with gas, right? Don't spill coffee on the on the leather

774
00:42:59.600 --> 00:43:06.400
Whatever case may be like you're watching things. It's the same way with your intangible assets. You got to do the exact same thing

775
00:43:07.280 --> 00:43:11.680
Okay, so those are the main I say those are the main agreements that you're going to need

776
00:43:12.080 --> 00:43:16.180
Non-disclosure non-compete privacy policy terms and conditions

777
00:43:16.880 --> 00:43:18.880
Are like the biggest

778
00:43:18.880 --> 00:43:21.860
The biggest one the other thing you need is some kind of assignment

779
00:43:22.480 --> 00:43:26.720
An assignment of all right title and interest for ip over to your company

780
00:43:28.320 --> 00:43:31.040
And you can use that with any va any third party

781
00:43:32.000 --> 00:43:38.960
Right because it all you do is fill in the blank on what exactly is is it that you're transferring the rights to?

782
00:43:39.440 --> 00:43:44.320
Right, you just kind of modify it. But here's the beauty of it is that if you get those agreements

783
00:43:45.520 --> 00:43:47.520
And they're done properly

784
00:43:47.920 --> 00:43:49.920
You shouldn't be paying

785
00:43:50.400 --> 00:43:54.960
For the same agreement over and over for the next party that you work with

786
00:43:56.160 --> 00:43:59.760
They should just be modifying the agreement that they already created for you once

787
00:44:01.040 --> 00:44:03.200
Do you get that people forget this?

788
00:44:03.200 --> 00:44:04.800
People forget this

789
00:44:04.800 --> 00:44:09.540
They say, you know, i've got a non-disclosure agreement for meeting with xyz corporation

790
00:44:10.080 --> 00:44:14.400
In two weeks i'm meeting with one two three company. They call up the lawyer and they say hey

791
00:44:15.120 --> 00:44:17.760
I need a non-disclosure agreement for one two three company

792
00:44:18.720 --> 00:44:24.560
What you should be doing is say hey, you just wrote a non-disclosure agreement for me for an xyz company

793
00:44:24.960 --> 00:44:27.360
Can you modify that for one two three company?

794
00:44:28.160 --> 00:44:31.040
That cost should be a fraction of what you paid the first time

795
00:44:32.000 --> 00:44:36.000
If you're paying the same thing every single time something's wrong

796
00:44:37.280 --> 00:44:39.760
Because I guarantee you they didn't rewrite the whole thing

797
00:44:41.280 --> 00:44:43.600
If they did they don't know how to use

798
00:44:44.240 --> 00:44:48.400
You know microsoft word to pull up a document and just modify it

799
00:44:48.800 --> 00:44:54.000
You shouldn't be rewriting a legal document every time. This is how you decrease your legal costs, okay?

800
00:44:55.040 --> 00:44:58.640
All right. Let me talk about i'm going to talk about one more thing in the patent area

801
00:44:58.640 --> 00:45:01.120
I don't want to

802
00:45:00.000 --> 00:45:02.800
use people in patents because it's very,

803
00:45:02.800 --> 00:45:05.660
it can be very confusing.

804
00:45:05.660 --> 00:45:07.940
So actually I'll talk about two more things.

805
00:45:07.940 --> 00:45:10.360
In the patent world, if you ever want to enforce your rights

806
00:45:10.360 --> 00:45:12.960
you have to have placed the public on notice

807
00:45:14.240 --> 00:45:17.000
or an individual on notice of your patent.

808
00:45:17.000 --> 00:45:20.680
That means writing something like patent number

809
00:45:20.680 --> 00:45:24.480
and then the number or PAT dot with the number

810
00:45:24.480 --> 00:45:28.000
or patent NO dot with the number.

811
00:45:28.000 --> 00:45:30.440
Like you have to give the patent number

812
00:45:30.440 --> 00:45:32.600
to place the public on notice.

813
00:45:32.600 --> 00:45:36.900
If you don't, your damages don't start.

814
00:45:38.400 --> 00:45:40.720
This is why when somebody sued my client

815
00:45:40.720 --> 00:45:41.960
a number of years ago

816
00:45:42.960 --> 00:45:46.280
and they never marked anything with their patent number,

817
00:45:46.280 --> 00:45:49.440
I said, well, let's just assume that my client's guilty.

818
00:45:49.440 --> 00:45:50.260
What do we owe you?

819
00:45:50.260 --> 00:45:52.280
And they said, oh, you owe like tens of thousands,

820
00:45:52.280 --> 00:45:54.520
tens of millions of dollars.

821
00:45:54.520 --> 00:45:56.200
I said, no, you've never marked anything

822
00:45:56.200 --> 00:45:57.800
with your patent number.

823
00:45:58.540 --> 00:45:59.380
And the attorney said, yes, we did.

824
00:45:59.380 --> 00:46:00.680
I said, prove it to me.

825
00:46:00.680 --> 00:46:04.580
He couldn't find a single place that they actually marked

826
00:46:04.580 --> 00:46:07.200
any of their products ever.

827
00:46:07.200 --> 00:46:09.240
So he came back to me and said,

828
00:46:09.240 --> 00:46:10.800
well, unfortunately you're right.

829
00:46:10.800 --> 00:46:12.560
So damages would start at the time

830
00:46:12.560 --> 00:46:14.640
that we filed the lawsuit against you.

831
00:46:14.640 --> 00:46:16.680
I said, well, I can write you a check for that.

832
00:46:16.680 --> 00:46:20.560
That's like, you know, thousand bucks

833
00:46:20.560 --> 00:46:24.260
because I think they sold like one unit since then

834
00:46:24.260 --> 00:46:25.200
because they stopped selling

835
00:46:25.200 --> 00:46:26.640
the second you filed the lawsuit.

836
00:46:26.640 --> 00:46:30.160
So you can take your thousand bucks

837
00:46:30.160 --> 00:46:32.800
and subtract that from the 150,000

838
00:46:32.800 --> 00:46:35.440
you spent in patent litigation fees.

839
00:46:35.440 --> 00:46:37.280
I'm sure your client will be really happy about that.

840
00:46:37.280 --> 00:46:39.080
And they dropped the lawsuit.

841
00:46:39.080 --> 00:46:42.580
So just remember that you need to mark,

842
00:46:42.580 --> 00:46:43.800
you have to mark things.

843
00:46:43.800 --> 00:46:46.480
If you don't mark, you can't enforce,

844
00:46:46.480 --> 00:46:49.680
you can't get damages for your legal rights.

845
00:46:49.680 --> 00:46:51.920
And so I'm gonna show you one more thing.

846
00:46:57.600 --> 00:47:00.440
Let me show you one more thing when it comes to patent law.

847
00:47:00.440 --> 00:47:03.200
I'm gonna tell you about what's called the statutory bars

848
00:47:04.360 --> 00:47:06.500
just so nobody gets in trouble on this.

849
00:47:08.720 --> 00:47:10.560
I think it's safe to tell you this.

850
00:47:10.560 --> 00:47:11.440
So let me see.

851
00:47:16.320 --> 00:47:18.760
I'm gonna give you guys this too.

852
00:47:18.760 --> 00:47:20.280
All right.

853
00:47:20.280 --> 00:47:22.440
Let's say somebody is infringing.

854
00:47:23.960 --> 00:47:24.920
I'm gonna show you something.

855
00:47:24.920 --> 00:47:26.480
I just put something in a chat.

856
00:47:28.400 --> 00:47:29.560
Oh, will it show you?

857
00:47:29.560 --> 00:47:30.440
Let me see.

858
00:47:30.440 --> 00:47:31.880
What happened?

859
00:47:31.880 --> 00:47:33.440
That's weird.

860
00:47:33.440 --> 00:47:34.280
Paste.

861
00:47:35.300 --> 00:47:37.560
It turned it into, you can actually click on it.

862
00:47:37.560 --> 00:47:42.560
It opens up a very horizontal snippet, yeah.

863
00:47:44.080 --> 00:47:48.000
Well, what I had there was language that can be used

864
00:47:49.160 --> 00:47:53.160
for sending a notification over to another party.

865
00:47:53.160 --> 00:47:56.000
Maybe I can copy it another way.

866
00:47:58.960 --> 00:48:01.020
Let me see if I can do this for you guys.

867
00:48:02.560 --> 00:48:03.440
Microsoft Word.

868
00:48:03.440 --> 00:48:05.040
Yeah, I'll put it into Microsoft Word

869
00:48:05.040 --> 00:48:07.120
and then I'll copy and paste it for you.

870
00:48:07.120 --> 00:48:09.520
So if somebody is actually infringing

871
00:48:10.620 --> 00:48:15.120
upon your trademark or, is somebody speaking?

872
00:48:16.020 --> 00:48:20.060
Yeah, Jake, if someone clicks on it and downloads it,

873
00:48:20.060 --> 00:48:22.560
there's a little download area, they can read it.

874
00:48:23.600 --> 00:48:24.480
Oh, okay.

875
00:48:25.560 --> 00:48:26.400
Got it.

876
00:48:26.400 --> 00:48:27.220
That's what I did.

877
00:48:27.220 --> 00:48:28.060
Thanks, buddy.

878
00:48:28.060 --> 00:48:29.240
Yeah, I don't know why.

879
00:48:29.240 --> 00:48:31.400
Let me see if I can just paste this anyway.

880
00:48:35.800 --> 00:48:37.040
Paste, there we go.

881
00:48:37.040 --> 00:48:38.360
Text, there we go.

882
00:48:38.360 --> 00:48:39.720
I pasted it as text.

883
00:48:39.720 --> 00:48:41.640
See if this works.

884
00:48:41.640 --> 00:48:42.680
See if this looks better.

885
00:48:42.680 --> 00:48:43.980
Hopefully it looks better.

886
00:48:45.400 --> 00:48:47.040
Paste.

887
00:48:47.040 --> 00:48:47.880
That come out?

888
00:48:47.880 --> 00:48:49.460
Nope, still doesn't work.

889
00:48:49.460 --> 00:48:50.560
So I guess you have to download it.

890
00:48:50.560 --> 00:48:51.600
That's weird.

891
00:48:51.600 --> 00:48:54.000
So you can't copy and paste things into the chat.

892
00:48:54.000 --> 00:48:55.440
That's kind of weird.

893
00:48:55.440 --> 00:48:56.800
If it's verbose.

894
00:48:58.040 --> 00:49:01.740
Anyways, so what I did was I copied and pasted.

895
00:49:02.800 --> 00:49:05.800
If somebody is committing infringement on something,

896
00:49:05.800 --> 00:49:07.760
the language that I copy and pasted

897
00:49:07.760 --> 00:49:10.400
is the more safe language that can be used.

898
00:49:10.400 --> 00:49:12.280
Always consult with a lawyer.

899
00:49:12.280 --> 00:49:14.760
Like always reach out to another lawyer.

900
00:49:14.760 --> 00:49:16.280
That's not legal advice.

901
00:49:18.020 --> 00:49:20.440
It's just what I have found over many years

902
00:49:20.440 --> 00:49:22.360
to be safe language.

903
00:49:22.360 --> 00:49:24.920
It's basically saying to the other party,

904
00:49:24.920 --> 00:49:29.760
hey, look, I've become aware of what you're doing.

905
00:49:29.760 --> 00:49:32.040
So it says our corporation owns all rights,

906
00:49:32.040 --> 00:49:34.520
title and interest to blah, blah, blah.

907
00:49:34.520 --> 00:49:37.160
A copy of that is attached.

908
00:49:37.160 --> 00:49:40.280
A copy, and then it says we've recently become aware

909
00:49:40.280 --> 00:49:42.840
of numerous technologies associated with your corporation.

910
00:49:42.840 --> 00:49:44.600
Example is blah, blah, blah.

911
00:49:44.600 --> 00:49:47.380
You may be interested in obtaining a license

912
00:49:47.380 --> 00:49:49.560
to make you sell or import the technology

913
00:49:49.560 --> 00:49:51.200
protected by our patent.

914
00:49:51.200 --> 00:49:52.040
That's it.

915
00:49:52.040 --> 00:49:56.800
It's not coming out and saying you infringe,

916
00:49:56.800 --> 00:49:59.360
stop now or I'm gonna sue you.

917
00:49:59.360 --> 00:50:00.200
Like.

918
00:50:00.000 --> 00:50:02.600
When you do that, you're threatening a lawsuit.

919
00:50:02.600 --> 00:50:05.200
When you threaten a lawsuit against a third party,

920
00:50:05.200 --> 00:50:06.240
they can file what's called

921
00:50:06.240 --> 00:50:09.060
a declaratory judgment action against you.

922
00:50:09.060 --> 00:50:11.060
That means they can pull you into court.

923
00:50:13.580 --> 00:50:16.580
You do not wanna get pulled into court, trust me.

924
00:50:17.640 --> 00:50:21.060
So if you're gonna go the litigation route,

925
00:50:21.060 --> 00:50:23.020
then speak to a lawyer and figure out

926
00:50:23.020 --> 00:50:26.160
how to do litigation the right way, right?

927
00:50:26.160 --> 00:50:27.960
But what you don't wanna do is send a nasty gram

928
00:50:27.960 --> 00:50:30.740
to somebody and get pulled into litigation

929
00:50:30.740 --> 00:50:33.100
because you worded the language the wrong way.

930
00:50:33.100 --> 00:50:34.100
If you come out and say,

931
00:50:34.100 --> 00:50:35.580
hey, you're committing infringement,

932
00:50:35.580 --> 00:50:38.700
I'm going to sue you unless you stop in the next 10 days,

933
00:50:38.700 --> 00:50:40.500
they can file a DJ action against you

934
00:50:40.500 --> 00:50:43.820
and pull you into federal district court and sue you.

935
00:50:43.820 --> 00:50:45.340
And what they're doing is they're asking the court

936
00:50:45.340 --> 00:50:50.180
to render a decision saying that they do not infringe

937
00:50:51.200 --> 00:50:53.860
because there's an imminent threat of being sued.

938
00:50:55.540 --> 00:50:57.760
All right, so that's basically a long way

939
00:50:58.520 --> 00:51:01.220
of saying be careful about sending nasty grams

940
00:51:01.220 --> 00:51:02.460
out to others.

941
00:51:02.460 --> 00:51:03.900
Don't just do it on your own,

942
00:51:03.900 --> 00:51:06.540
talk to a lawyer so you don't get in trouble.

943
00:51:06.540 --> 00:51:09.440
You do it the wrong way, it's really painful.

944
00:51:09.440 --> 00:51:11.940
Rose, thank you for doing that, I appreciate that.

945
00:51:14.040 --> 00:51:15.940
Oh, it came out one at a times, I see.

946
00:51:16.900 --> 00:51:18.500
That's weird, anyways.

947
00:51:18.500 --> 00:51:20.220
All right, so let me touch base a little bit

948
00:51:20.220 --> 00:51:22.080
on provisional patents and then,

949
00:51:23.820 --> 00:51:27.140
all right, if you've got a new technology,

950
00:51:27.520 --> 00:51:32.520
so it's either a system, a method, an apparatus.

951
00:51:32.520 --> 00:51:35.520
The government said, well, to get a utility patent

952
00:51:35.520 --> 00:51:36.720
is pretty expensive.

953
00:51:36.720 --> 00:51:39.280
Not everybody can afford a utility patent.

954
00:51:39.280 --> 00:51:40.520
So what we're going to allow you to do

955
00:51:40.520 --> 00:51:42.420
is what's called a provisional patent.

956
00:51:44.000 --> 00:51:46.880
A provisional patent does not get examined

957
00:51:46.880 --> 00:51:49.240
by the United States Patent and Trademark Office,

958
00:51:49.240 --> 00:51:51.600
it just maintains the filing date, that's it.

959
00:51:53.480 --> 00:51:56.280
But it requires at least a title and a description.

960
00:51:57.320 --> 00:51:58.920
So that one of ordinary skill in the art

961
00:51:58.920 --> 00:52:00.360
could practice the invention.

962
00:52:02.240 --> 00:52:03.920
So somebody needs to be able to pick up that thing

963
00:52:03.920 --> 00:52:06.600
and practice the invention, all right?

964
00:52:06.600 --> 00:52:10.640
But it does not require claims, abstract,

965
00:52:10.640 --> 00:52:12.760
background on the invention, summary of the invention,

966
00:52:12.760 --> 00:52:15.140
brief description or a drawing,

967
00:52:15.140 --> 00:52:16.600
like none of that's required.

968
00:52:18.180 --> 00:52:22.880
So it essentially costs much less than a utility patent.

969
00:52:22.880 --> 00:52:25.240
But within one year of filing the provisional,

970
00:52:25.300 --> 00:52:27.380
you need to file the utility patent.

971
00:52:27.380 --> 00:52:29.420
So it's not a way of getting around

972
00:52:29.420 --> 00:52:31.380
spending the money on the utility,

973
00:52:31.380 --> 00:52:33.660
it's just a way of delaying that.

974
00:52:33.660 --> 00:52:36.860
So what you might want to do is file a provisional patent,

975
00:52:36.860 --> 00:52:41.480
test the market, and if people tend to like your technology,

976
00:52:41.480 --> 00:52:44.480
then you can proceed with a utility patent.

977
00:52:44.480 --> 00:52:46.700
Because you spent less money

978
00:52:46.700 --> 00:52:48.800
kind of putting your stake in the ground,

979
00:52:50.140 --> 00:52:52.660
it costs you less money to be able to do that.

980
00:52:52.660 --> 00:52:55.800
And so for that reason, provisionals are pretty handy.

981
00:52:55.800 --> 00:52:59.200
So all I want you to remember is the word provisional.

982
00:52:59.200 --> 00:53:02.160
So then this way, when you reach out to a patent attorney

983
00:53:02.160 --> 00:53:03.560
with a new technology or a system,

984
00:53:03.560 --> 00:53:07.360
you can say, hey, what's this thing called provisionals?

985
00:53:07.360 --> 00:53:10.080
And they can explain it in more detail to you,

986
00:53:10.080 --> 00:53:13.840
which should save you time and money, all right?

987
00:53:13.840 --> 00:53:15.880
But it only buys you one year delay.

988
00:53:15.880 --> 00:53:17.760
In that time, you can test the market,

989
00:53:17.760 --> 00:53:20.160
you can seek financial backing

990
00:53:20.160 --> 00:53:22.160
before you bring that product to market.

991
00:53:23.160 --> 00:53:24.640
Okay, that's what a provisional is about.

992
00:53:24.640 --> 00:53:29.040
It's provisional, it's like it's before the utility.

993
00:53:29.040 --> 00:53:30.740
The utility is the one that gets examined

994
00:53:30.740 --> 00:53:33.700
by the patent office, not the provisional.

995
00:53:33.700 --> 00:53:37.240
Within one year, you have to file a utility.

996
00:53:37.240 --> 00:53:38.720
And if you're interested in legal rights

997
00:53:38.720 --> 00:53:42.800
in foreign countries, within one year of filing anything

998
00:53:42.800 --> 00:53:45.380
in a first country, you need to do foreign filing.

999
00:53:46.440 --> 00:53:48.080
If you don't do it within that year,

1000
00:53:48.080 --> 00:53:50.600
you can potentially lose the right

1001
00:53:50.620 --> 00:53:52.820
to obtain legal rights in foreign countries.

1002
00:53:54.220 --> 00:53:56.340
All right, I'm keeping this very broad

1003
00:53:56.340 --> 00:53:59.560
and simple to understand for you guys.

1004
00:53:59.560 --> 00:54:03.740
And then finally, there are three statutory bars

1005
00:54:03.740 --> 00:54:06.660
in the patent world, three statutory bars.

1006
00:54:06.660 --> 00:54:09.500
Number one is the public use bar.

1007
00:54:09.500 --> 00:54:11.980
Number two is the publication bar.

1008
00:54:16.300 --> 00:54:18.500
And number three is the offer for sale bar.

1009
00:54:19.500 --> 00:54:22.200
Okay, I'll briefly explain each one of them to you.

1010
00:54:23.880 --> 00:54:27.440
Public use, publication, offer for sale bar.

1011
00:54:27.440 --> 00:54:30.420
Okay, let's take the offer for sale bar first.

1012
00:54:31.760 --> 00:54:35.400
If you offer your invention for sale to another party

1013
00:54:38.120 --> 00:54:39.600
and it's substantially complete,

1014
00:54:39.600 --> 00:54:42.760
meaning that there's AutoCAD drawings

1015
00:54:42.760 --> 00:54:46.640
or there's a flow chart that describes the process.

1016
00:54:46.660 --> 00:54:50.620
If that's the case, so it's like an actual

1017
00:54:50.620 --> 00:54:52.220
commercial offer for sale

1018
00:54:53.300 --> 00:54:55.500
and the invention is substantially complete,

1019
00:54:56.420 --> 00:54:57.540
the clock starts.

1020
00:54:57.540 --> 00:55:00.340
You have one year from that day to file a patent.

1021
00:55:00.000 --> 00:55:03.600
in the United States. If you don't, it's considered donated to the public.

1022
00:55:06.960 --> 00:55:13.040
If one year and one day goes by since I offered Mary my invention,

1023
00:55:14.240 --> 00:55:16.560
my invention just became donated to the public.

1024
00:55:18.880 --> 00:55:25.040
And if I obtain a patent, somebody can invalidate my patent because I committed fraud on the patent

1025
00:55:25.040 --> 00:55:31.200
office since more than one year passed since I offered it for sale. I violated the offer for

1026
00:55:31.200 --> 00:55:38.320
sale bar. That's the first bar. The way each of these bars work is that if you perform the action

1027
00:55:38.320 --> 00:55:42.720
that I'm going to explain to you and one year passes, your invention is donated to the public.

1028
00:55:43.600 --> 00:55:47.600
So number one was the offer for sale bar. Number two is the publication bar.

1029
00:55:50.080 --> 00:55:54.160
So let's say you have a website and you're really excited, like Khalia's really excited

1030
00:55:54.160 --> 00:55:59.840
about her new invention. And she's like, check this out world. Here it is. Here's my invention.

1031
00:55:59.840 --> 00:56:05.920
These are all the parts to it. I'm starting to sell. This is awesome. That is considered a

1032
00:56:05.920 --> 00:56:12.080
publication because it's, it's a description of the invention so that one of ordinary skill in

1033
00:56:12.080 --> 00:56:18.080
the art can practice it. And more than one year passed and it's readily available to the public

1034
00:56:18.720 --> 00:56:26.400
on a website. The place where people freak out is if they have a publication.

1035
00:56:27.200 --> 00:56:31.760
So imagine that you're a graduate student and you're going for your PhD.

1036
00:56:33.600 --> 00:56:37.120
What's the document that you create when you go for your PhD?

1037
00:56:39.840 --> 00:56:41.280
Somebody typed that in the chat.

1038
00:56:42.000 --> 00:56:45.600
Thesis, Pamela nailed it again. Thesis, right?

1039
00:56:47.600 --> 00:56:53.600
What the universities do with your thesis is that they make it available in the library.

1040
00:56:56.800 --> 00:57:03.840
I was doing a teaching at Dartmouth in their medical device department for a Keith Poulsen,

1041
00:57:03.840 --> 00:57:10.560
who's the head of the medical device department at Dartmouth. And I was teaching at Dartmouth

1042
00:57:10.880 --> 00:57:16.640
department at Dartmouth. I was speaking to all graduate students. There are about 30 of them in

1043
00:57:16.640 --> 00:57:21.200
there, maybe about 30 of them in there. Speaking to them about all these different things. I get

1044
00:57:21.200 --> 00:57:27.200
to this point, publication. I explained to them that if your invention is described in a document,

1045
00:57:27.200 --> 00:57:32.640
it's readily available to a third party. The day that it actually gets described,

1046
00:57:32.640 --> 00:57:36.480
you lose the potential for foreign rights. But in the United States, you have one full

1047
00:57:36.480 --> 00:57:40.560
year to file a patent. If you don't do that, it's considered donated to the public.

1048
00:57:42.000 --> 00:57:51.360
People got up and left. They literally got up and left the room fast, fast.

1049
00:57:52.320 --> 00:57:58.080
Because they had just a few weeks prior submitted their thesis to the school.

1050
00:57:59.680 --> 00:58:04.480
And so the school, the second they approve your thesis, it gets published.

1051
00:58:04.480 --> 00:58:08.800
So they immediately were calling the school saying, don't publish my thesis

1052
00:58:08.800 --> 00:58:13.600
because my thesis is actually the basis for my corporation that I'm building when I graduate.

1053
00:58:17.360 --> 00:58:22.160
And Keith was like, where are you guys going? And I knew exactly what was going on. I was like,

1054
00:58:22.160 --> 00:58:27.440
Keith, let them go. He's like, that was really rude. I said, no, it wasn't rude. They realized

1055
00:58:27.440 --> 00:58:31.920
their livelihood was on the line the second that they learned that. So they took off.

1056
00:58:32.800 --> 00:58:38.320
They told the registrar office, don't publish anything until we tell you that we can publish

1057
00:58:38.320 --> 00:58:41.120
it. And they all filed provisional patent applications within a week.

1058
00:58:44.080 --> 00:58:48.240
So this is why it's so important. And finally, the public use bar

1059
00:58:48.240 --> 00:58:52.160
says that if a third party is using the invention for its intended purpose,

1060
00:58:54.560 --> 00:58:58.400
even one member of the public is using the invention for its intended purpose,

1061
00:58:58.400 --> 00:59:03.200
and one year passes, the invention is donated to the public. It's gone. Nothing you can do about

1062
00:59:03.200 --> 00:59:10.880
it. So make sure that you're not offering it for sale. You're not giving it to your neighbor to

1063
00:59:10.880 --> 00:59:18.160
play around with. And there's no publication on this. Now, there's an exception to the public

1064
00:59:18.160 --> 00:59:23.760
use bar. It's called experimental use. So let's say Rose is my next door neighbor. I'm blessed

1065
00:59:23.760 --> 00:59:28.480
to have her as my next door neighbor. And I create a new bike and I give it to Rose and I say, hey,

1066
00:59:28.480 --> 00:59:35.040
Rose, ride this around. Tell me what you think about it. I'm not she's not buying it from me.

1067
00:59:35.840 --> 00:59:39.920
I'm just like giving it to her to test it out. And she's giving me feedback. She's like, you know,

1068
00:59:39.920 --> 00:59:45.360
Peter, it's kind of hard to pedal on this thing. You know, the seat isn't comfortable. The handlebars

1069
00:59:45.360 --> 00:59:52.000
are really loose, blah, blah, blah. She's giving me feedback. That's like getting test material.

1070
00:59:52.000 --> 00:59:56.000
That's getting feedback on it. It's not a sale. It's called experimental use.

1071
00:59:57.520 --> 00:59:59.840
It's for a limited time. Like.

1072
01:00:00.000 --> 01:00:02.600
I'll even tell her, give me the bike back after 30 days.

1073
01:00:02.600 --> 01:00:04.800
I just want feedback from you.

1074
01:00:04.800 --> 01:00:07.680
So that is called experimental use.

1075
01:00:07.680 --> 01:00:09.720
It's for a limited time, for a limited purpose,

1076
01:00:09.720 --> 01:00:11.240
no financial gain.

1077
01:00:11.240 --> 01:00:14.520
I'm just gaining data to allow me to modify things.

1078
01:00:14.520 --> 01:00:16.560
That's called experimental use, okay?

1079
01:00:18.880 --> 01:00:20.840
That's all I'm gonna cover on the patent area

1080
01:00:20.840 --> 01:00:24.800
because there's not a lot of people

1081
01:00:24.800 --> 01:00:27.480
that are dealing with patent issues.

1082
01:00:27.480 --> 01:00:29.280
In VIP today, I'm gonna show you guys

1083
01:00:29.280 --> 01:00:31.000
how to do a patent search,

1084
01:00:31.000 --> 01:00:33.160
like using the United States Patent and Trademark Office.

1085
01:00:33.160 --> 01:00:35.600
I'll show you guys how to do that.

1086
01:00:35.600 --> 01:00:38.400
But what I will for everybody right now do

1087
01:00:38.400 --> 01:00:40.680
is show you the site.

1088
01:00:42.720 --> 01:00:46.040
We actually explored the site together before.

1089
01:00:51.680 --> 01:00:54.960
All right, so I'll just show you the site quickly here.

1090
01:00:55.960 --> 01:00:59.760
Share, share, share, share, share.

1091
01:00:59.760 --> 01:01:00.920
I don't care.

1092
01:01:00.920 --> 01:01:02.240
Here we go.

1093
01:01:02.240 --> 01:01:03.120
Okay, here we go.

1094
01:01:04.400 --> 01:01:08.800
So right here under patents, you'll see search for patents.

1095
01:01:08.800 --> 01:01:09.920
You can click on that.

1096
01:01:11.200 --> 01:01:13.080
And it tells you, there's all this information,

1097
01:01:13.080 --> 01:01:15.280
how to conduct a search.

1098
01:01:15.280 --> 01:01:20.280
Here's the patent public search here.

1099
01:01:20.360 --> 01:01:22.920
And then you just click on basic search or advanced.

1100
01:01:22.920 --> 01:01:24.760
You could probably do basic.

1101
01:01:25.560 --> 01:01:26.400
And then once you're in here,

1102
01:01:26.400 --> 01:01:28.720
you can just type in a certain thing.

1103
01:01:28.720 --> 01:01:31.240
So let's say you wanna look for,

1104
01:01:31.240 --> 01:01:33.440
oh, I gotta move this bar out of the way.

1105
01:01:35.000 --> 01:01:35.840
There we go.

1106
01:01:37.120 --> 01:01:39.160
Let's say you wanna look for like a certain title.

1107
01:01:39.160 --> 01:01:42.120
So you just say, let's say bicycle.

1108
01:01:43.760 --> 01:01:47.080
Bicycle, right?

1109
01:01:47.960 --> 01:01:49.400
And if I did a search for that,

1110
01:01:49.400 --> 01:01:52.120
all these patents that have anything to do with bicycles

1111
01:01:52.120 --> 01:01:52.960
pop up.

1112
01:01:53.960 --> 01:01:56.600
Okay, now here's the problem though.

1113
01:01:56.600 --> 01:02:00.560
Look at this, it's got 2,930 that popped up.

1114
01:02:00.560 --> 01:02:02.160
Here's the problem,

1115
01:02:02.160 --> 01:02:04.760
is that somebody might not use the word bicycle.

1116
01:02:04.760 --> 01:02:07.800
They might use like apparatus having two wheels.

1117
01:02:09.480 --> 01:02:13.440
So this is why this patent searching using keywords

1118
01:02:13.440 --> 01:02:15.840
is kind of dangerous.

1119
01:02:15.840 --> 01:02:18.800
I mean, it's good for you to get ideas.

1120
01:02:18.800 --> 01:02:21.840
Like if you're doing like VLSI,

1121
01:02:21.840 --> 01:02:25.760
let's say VLSI design, VLSI that search.

1122
01:02:29.880 --> 01:02:33.240
So there's a bunch of VLSI design.

1123
01:02:33.240 --> 01:02:37.200
There's actually 2,752 things on that.

1124
01:02:37.200 --> 01:02:38.840
So then I can say, and,

1125
01:02:39.680 --> 01:02:42.240
and let's say a microchip.

1126
01:02:44.520 --> 01:02:46.320
Do a search.

1127
01:02:46.320 --> 01:02:49.920
Now there are 64 patents.

1128
01:02:49.920 --> 01:02:53.080
So the patents here should have to do a VLSI design

1129
01:02:53.080 --> 01:02:54.120
and microchips.

1130
01:02:55.000 --> 01:02:56.920
And so now I can look those things up.

1131
01:02:56.920 --> 01:02:59.800
Or separately, I can look up a specific company.

1132
01:02:59.800 --> 01:03:04.680
Assignee is the party who the patent was assigned to.

1133
01:03:04.680 --> 01:03:08.040
The assignor is the one who's assigning the patent.

1134
01:03:08.040 --> 01:03:10.240
So I can come in here and go like Samsung

1135
01:03:12.120 --> 01:03:13.920
and then a microchip

1136
01:03:15.360 --> 01:03:17.480
and search.

1137
01:03:18.480 --> 01:03:21.880
And now I've got, there's eight patents.

1138
01:03:21.880 --> 01:03:22.720
Eight patents?

1139
01:03:22.720 --> 01:03:23.560
There's no way.

1140
01:03:23.560 --> 01:03:24.520
Oh, it's page one of eight.

1141
01:03:24.520 --> 01:03:25.360
Look at that, man.

1142
01:03:25.360 --> 01:03:26.840
That's a lot of patents.

1143
01:03:26.840 --> 01:03:30.600
So Samsung has a ridiculous number of patents

1144
01:03:30.600 --> 01:03:32.640
where microchips are part of the patents.

1145
01:03:34.480 --> 01:03:38.120
Okay, so this is how you can use that tool really simply.

1146
01:03:38.120 --> 01:03:39.400
All right.

1147
01:03:39.400 --> 01:03:41.320
All right, that's, I'm going to stop there.

1148
01:03:41.320 --> 01:03:43.680
I won't go deeper into the patent world.

1149
01:03:43.680 --> 01:03:46.240
Tomorrow we're going to bring all this stuff together.

1150
01:03:46.320 --> 01:03:51.320
So tomorrow what we'll do is we'll look at the scenario.

1151
01:03:54.800 --> 01:03:57.360
I'll train you a little more on the combination

1152
01:03:57.360 --> 01:03:59.040
of trademarks, copyrights, and patents

1153
01:03:59.040 --> 01:04:00.480
in real life scenarios.

1154
01:04:01.400 --> 01:04:06.400
And then I might do one other special thing for you guys.

1155
01:04:06.640 --> 01:04:09.320
What I'm going to do also is,

1156
01:04:10.840 --> 01:04:13.720
how many of you would like to learn how to search for logos?

1157
01:04:14.720 --> 01:04:17.560
Okay, a bunch of you.

1158
01:04:17.560 --> 01:04:20.680
All right, I'm going to add a bonus for you guys.

1159
01:04:20.680 --> 01:04:21.920
This will be on Saturday.

1160
01:04:21.920 --> 01:04:24.200
It'll be a half hour, okay?

1161
01:04:25.480 --> 01:04:28.560
I'm going to add this to you guys at no cost, all right?

1162
01:04:28.560 --> 01:04:29.640
Look at Jacob.

1163
01:04:31.840 --> 01:04:33.360
Jacob, that was awesome, man.

1164
01:04:33.360 --> 01:04:34.640
I love that celebration.

1165
01:04:34.640 --> 01:04:35.520
That was awesome.

1166
01:04:36.800 --> 01:04:39.840
So on Saturday at noon,

1167
01:04:40.840 --> 01:04:44.920
well, noon is actually nine o'clock a.m. for California.

1168
01:04:44.920 --> 01:04:46.840
Hopefully that's okay for you guys.

1169
01:04:46.840 --> 01:04:47.680
But-

1170
01:04:47.680 --> 01:04:49.360
It's 7 a.m. in Hawaii.

1171
01:04:49.360 --> 01:04:50.520
Oh my gosh, yeah.

1172
01:04:50.520 --> 01:04:51.880
You Hawaii people.

1173
01:04:51.880 --> 01:04:55.080
I can't feel bad for you people in Hawaii, honestly.

1174
01:04:55.080 --> 01:04:57.720
There's no part of me that feels bad for you guys.

1175
01:04:57.720 --> 01:05:00.280
Like every day you wake up in Paraguay.

1176
01:05:00.000 --> 01:05:08.160
paradise. Oh, I feel so bad. I just can't. I mean, I try I try

1177
01:05:08.160 --> 01:05:12.640
to I try to cry but it doesn't work. I don't know. So um, yeah,

1178
01:05:12.640 --> 01:05:14.960
12. Well, you don't have to be there for that. It's just going

1179
01:05:14.960 --> 01:05:19.760
to be a private session with everybody. So Saturday at 12

1180
01:05:19.760 --> 01:05:26.280
o'clock, I'm going to do live trademark searching for logos.

1181
01:05:26.920 --> 01:05:32.280
It's very unique. It's not like searching for other things. It's

1182
01:05:32.280 --> 01:05:35.760
very unique. Okay, so you're not going to want to want to miss

1183
01:05:35.760 --> 01:05:39.760
that. Please remember for all of you that are interested in the

1184
01:05:39.760 --> 01:05:45.760
offer, the offer closes Friday at midnight. Okay, so make sure

1185
01:05:45.760 --> 01:05:49.160
that you close before then. Because what we're going to be

1186
01:05:49.160 --> 01:05:52.240
doing is scheduling the audits for people, getting them the

1187
01:05:52.240 --> 01:05:56.560
information that they need, getting them into the intake

1188
01:05:56.880 --> 01:06:00.080
process. There's a number of things we do as a law firm to

1189
01:06:00.080 --> 01:06:02.120
make sure you guys are really comfortable. Yeah, right.

1190
01:06:03.360 --> 01:06:06.880
For those of you who think that you're not ready yet to be

1191
01:06:06.880 --> 01:06:11.200
audited, that's okay, too. You have a whole year before you

1192
01:06:11.880 --> 01:06:15.360
need to have your audit with Peter. So you I know there's

1193
01:06:15.360 --> 01:06:17.400
some you they're like, I'm not quite ready yet. And we've had

1194
01:06:17.400 --> 01:06:21.800
many like that. I probably say 85% of our members who already

1195
01:06:21.800 --> 01:06:25.280
had businesses in motion or creative works in motion, they

1196
01:06:25.280 --> 01:06:29.080
ended up going through our audit and, and unfortunately, we're

1197
01:06:29.080 --> 01:06:33.080
using brands, a brand name or assets that they did not have

1198
01:06:33.080 --> 01:06:35.400
the right to use somebody else owned it and they were

1199
01:06:35.400 --> 01:06:38.680
vulnerable to infringement claims and damages. So our

1200
01:06:38.680 --> 01:06:42.040
members who came with a kind of a blank slate, or they're very

1201
01:06:42.040 --> 01:06:45.920
new, they actually got a whole strategic plan on how to launch

1202
01:06:45.920 --> 01:06:50.160
the right way with Peter. And so it was really beneficial. So

1203
01:06:50.160 --> 01:06:52.400
they thought they were too early or premature to get

1204
01:06:52.400 --> 01:06:55.280
started in an audit, but really, they got the best leveraging

1205
01:06:55.280 --> 01:06:59.560
point they could have. And so it benefited them tremendously to

1206
01:06:59.560 --> 01:07:02.120
start that way. And then the ones that came that were

1207
01:07:02.120 --> 01:07:07.360
infringing, we got them on a better track. Like yesterday,

1208
01:07:07.480 --> 01:07:12.080
she got a good way to just kind of explain that. So during the

1209
01:07:12.080 --> 01:07:16.640
audit, just so all of you are aware, we will uncover things

1210
01:07:16.640 --> 01:07:20.440
like we'll find things that are dangerous to your company, ways

1211
01:07:20.440 --> 01:07:24.320
to modify things within your company. Even if you don't have

1212
01:07:24.320 --> 01:07:28.160
a company like ways to increase your own value to yourself and

1213
01:07:28.160 --> 01:07:31.360
to your company, so your income will increase. If you're doing

1214
01:07:31.360 --> 01:07:35.600
online training courses. We go through how to make those

1215
01:07:35.600 --> 01:07:40.920
protectable software packages that are dangerous to use things

1216
01:07:40.920 --> 01:07:45.360
that are good to use. We walk through a lot like we we go

1217
01:07:45.360 --> 01:07:47.720
through a tremendous amount. And if there's anything that I'm

1218
01:07:47.720 --> 01:07:50.200
not sure about, I'll let you know. And then I'll get you the

1219
01:07:50.200 --> 01:07:53.880
answer. I think that's probably only happened twice.

1220
01:07:54.160 --> 01:07:58.440
Yeah, we've had members who came in with an idea or they knew

1221
01:07:58.440 --> 01:08:01.480
what they wanted to do, but they were still budding and gestating.

1222
01:08:01.720 --> 01:08:04.560
And then they ended up walking out with an entire business

1223
01:08:04.560 --> 01:08:07.200
plan. Like it's not that that was a part of it, it just ended

1224
01:08:07.200 --> 01:08:10.160
up happening. I mean, they just came out with like, Oh my gosh,

1225
01:08:10.160 --> 01:08:13.080
now I have a viable business that I can make a profit with

1226
01:08:13.440 --> 01:08:16.600
because of that strategy session. It was pretty fun.

1227
01:08:16.880 --> 01:08:20.960
Yeah, it does work out really well. So but then on Saturday at

1228
01:08:20.960 --> 01:08:25.520
12 o'clock, we will do the logo search together. And I'll answer

1229
01:08:25.520 --> 01:08:30.319
questions during the logo searching as well. Let's see.

1230
01:08:30.640 --> 01:08:33.399
I can't get over Jacob's excitement. His happy dances

1231
01:08:33.399 --> 01:08:33.920
over there.

1232
01:08:34.560 --> 01:08:40.000
Funny. This is so funny. Let me see. Okay, I'm looking to see if

1233
01:08:40.000 --> 01:08:57.600
there's anything else I need to cover for today. Okay, so let me

1234
01:08:57.600 --> 01:09:08.920
touch base on this right here real fast. Okay. Alright, so

1235
01:09:08.920 --> 01:09:11.880
we're coming to the holiday season. So a lot of people are

1236
01:09:11.880 --> 01:09:14.439
doing what they're doing is they're taking images that

1237
01:09:14.439 --> 01:09:16.720
they're finding and putting them on t shirts. I touched base on

1238
01:09:16.720 --> 01:09:21.399
this really quickly. All right. Well, what about phrases? What

1239
01:09:21.399 --> 01:09:25.120
about like, you know, we know you can't do it with logos.

1240
01:09:25.160 --> 01:09:30.040
That's copyright infringement. What about like phrases? Okay.

1241
01:09:30.640 --> 01:09:36.040
This gets it's gets kind of interesting. phrases in general.

1242
01:09:36.399 --> 01:09:40.120
Um, the question is whether or not the phrase can be

1243
01:09:40.120 --> 01:09:43.359
copyrighted in and of itself, there needs to be some level of

1244
01:09:44.560 --> 01:09:49.479
of the copyrightable material being genuine, meaning like new,

1245
01:09:49.520 --> 01:09:53.760
genuine, creative, right needs to be an author needs to be a

1246
01:09:53.760 --> 01:09:59.240
level of creativity, and it needs to be fixed. So if you're, if

1247
01:09:59.240 --> 01:09:59.800
you've got like

1248
01:10:00.000 --> 01:10:03.280
some kind of, let's say there's a book,

1249
01:10:03.280 --> 01:10:05.280
and you grab one line of the book,

1250
01:10:05.280 --> 01:10:07.280
and you want to throw that on a t-shirt.

1251
01:10:09.040 --> 01:10:11.480
If it's argued that that line of the book

1252
01:10:11.480 --> 01:10:14.000
is considered part of the essence of the copyright,

1253
01:10:14.000 --> 01:10:17.880
you can run into problems for copyright infringement.

1254
01:10:17.880 --> 01:10:20.520
This is why there are so many lawsuits

1255
01:10:20.520 --> 01:10:22.480
that have been filed by larger companies

1256
01:10:22.480 --> 01:10:23.700
against individuals.

1257
01:10:24.680 --> 01:10:27.400
And eBay has blacklisted people,

1258
01:10:27.400 --> 01:10:29.760
Amazon's blacklisted people.

1259
01:10:29.800 --> 01:10:31.160
Alibaba doesn't care.

1260
01:10:31.160 --> 01:10:34.640
I mean, just being honest, Alibaba just wants money.

1261
01:10:34.640 --> 01:10:35.480
They don't care.

1262
01:10:35.480 --> 01:10:36.800
They're like, you know,

1263
01:10:36.800 --> 01:10:39.100
sometimes it's hard to get your own stuff pulled down

1264
01:10:39.100 --> 01:10:41.220
when you have a patent number or a trademark

1265
01:10:41.220 --> 01:10:43.000
or a copyright on Alibaba.

1266
01:10:43.000 --> 01:10:43.980
They just want the money.

1267
01:10:43.980 --> 01:10:47.240
So it's a little harder to work with them.

1268
01:10:47.240 --> 01:10:49.600
So if you're gonna, I was about to say,

1269
01:10:49.600 --> 01:10:51.680
if you're gonna infringe, you should use this platform,

1270
01:10:51.680 --> 01:10:52.920
but I'm not gonna say that.

1271
01:10:52.920 --> 01:10:55.280
I'm not encouraging anybody to do anything wrong.

1272
01:10:55.280 --> 01:10:56.120
Don't do that.

1273
01:10:57.120 --> 01:10:58.600
It's amazing.

1274
01:10:58.600 --> 01:11:00.840
With all the knowledge I have,

1275
01:11:00.840 --> 01:11:02.760
I know how somebody can be corrupt

1276
01:11:02.760 --> 01:11:04.920
and become a millionaire pretty fast.

1277
01:11:05.880 --> 01:11:08.520
And I'm not gonna say how you can do that.

1278
01:11:08.520 --> 01:11:09.360
Exactly.

1279
01:11:09.360 --> 01:11:12.760
Jacob's like, no, no, no, no.

1280
01:11:12.760 --> 01:11:17.480
So, but the point is that IP can be a very lucrative area

1281
01:11:18.360 --> 01:11:20.040
for good reasons and for bad reasons.

1282
01:11:20.040 --> 01:11:23.520
So in any case, grabbing somebody else's content

1283
01:11:23.520 --> 01:11:25.240
and putting it on a t-shirt, you can't do that.

1284
01:11:25.240 --> 01:11:26.640
Putting it on a mug, you can't do that.

1285
01:11:26.640 --> 01:11:28.680
Can't put the logos on a mug.

1286
01:11:28.680 --> 01:11:31.240
Can't put them on t-shirts, canteens,

1287
01:11:31.240 --> 01:11:33.640
backpacks, nothing, right?

1288
01:11:33.640 --> 01:11:35.680
You need to come out with something creative.

1289
01:11:35.680 --> 01:11:37.480
And if you're having trouble coming up

1290
01:11:37.480 --> 01:11:39.920
with something that's original,

1291
01:11:39.920 --> 01:11:41.760
this is what gets really interesting.

1292
01:11:41.760 --> 01:11:45.520
If you use chat GPT to come up with a phrase,

1293
01:11:45.520 --> 01:11:49.760
under copyright law, you can't own what's created,

1294
01:11:49.760 --> 01:11:51.340
but you may not care.

1295
01:11:53.040 --> 01:11:54.740
This is where it gets interesting.

1296
01:11:55.800 --> 01:11:57.600
And I think I'll close on this,

1297
01:11:57.600 --> 01:11:59.800
cause we're way over, man.

1298
01:11:59.800 --> 01:12:01.120
We're way over, sorry.

1299
01:12:02.680 --> 01:12:04.320
At 8.30, we'll start VIP.

1300
01:12:04.320 --> 01:12:06.200
So this is where we'll close.

1301
01:12:06.200 --> 01:12:07.040
Yeah, I know.

1302
01:12:07.040 --> 01:12:10.560
I didn't know I was gonna get this new spring of life

1303
01:12:10.560 --> 01:12:13.960
to talk about something, but we're coming on the holidays.

1304
01:12:13.960 --> 01:12:18.760
So, if you're trying to come up with an idea

1305
01:12:18.760 --> 01:12:20.920
for a phrase, a line, or something like that,

1306
01:12:20.920 --> 01:12:23.560
you might use something like chat GPT,

1307
01:12:23.560 --> 01:12:25.240
come up with a phrase or a line.

1308
01:12:25.240 --> 01:12:28.040
You can't own it under copyright law,

1309
01:12:28.040 --> 01:12:31.720
but you may be able to create the thing itself

1310
01:12:31.720 --> 01:12:34.480
and sell the thing and just compete in the market.

1311
01:12:34.480 --> 01:12:38.600
Not everybody cares about IP, right?

1312
01:12:38.600 --> 01:12:40.240
Like not everybody cares about being able

1313
01:12:40.240 --> 01:12:42.160
to own it outright.

1314
01:12:42.160 --> 01:12:45.620
Just understand that if you now make it for $12,

1315
01:12:45.620 --> 01:12:48.360
somebody in Vietnam is gonna make it for $8,

1316
01:12:48.360 --> 01:12:52.440
or somebody in the Philippines is gonna make it for $7.

1317
01:12:52.440 --> 01:12:54.980
And now you're just competing in the market,

1318
01:12:54.980 --> 01:12:57.640
while if you had a copyright, you can just tell Amazon,

1319
01:12:57.640 --> 01:12:59.960
hey, they're copying my design.

1320
01:12:59.960 --> 01:13:02.120
Here's my registration number, pull it.

1321
01:13:02.120 --> 01:13:05.240
And they'll pull everything that that company sells

1322
01:13:05.240 --> 01:13:08.840
with that same logo or that same design.

1323
01:13:08.840 --> 01:13:10.440
So just keep that in mind.

1324
01:13:10.440 --> 01:13:14.080
So chat GPT is fun, mid-journey is fun to use,

1325
01:13:14.080 --> 01:13:16.240
come out with stuff, but you can't own those things.

1326
01:13:16.240 --> 01:13:17.920
The only thing that I would caution you of

1327
01:13:17.920 --> 01:13:20.120
is try to make sure you're not infringing

1328
01:13:20.120 --> 01:13:22.240
upon something that they scraped,

1329
01:13:23.040 --> 01:13:26.440
meaning somebody else's legal right to a real painting

1330
01:13:26.440 --> 01:13:29.480
or a real drawing or something like that.

1331
01:13:29.480 --> 01:13:30.800
Just be careful.

1332
01:13:30.800 --> 01:13:32.360
I don't want you guys getting in trouble.

1333
01:13:32.360 --> 01:13:35.540
I really don't, because this is what I do for a living.

1334
01:13:35.540 --> 01:13:37.800
And just so you guys understand,

1335
01:13:37.800 --> 01:13:40.800
I'll close with this in the next 30 seconds,

1336
01:13:40.800 --> 01:13:43.900
is that the second you call a lawyer,

1337
01:13:43.900 --> 01:13:45.400
the clock starts ticking.

1338
01:13:46.780 --> 01:13:48.600
That's how lawyers make money.

1339
01:13:48.600 --> 01:13:51.360
They bill per hour, they don't sell products.

1340
01:13:51.360 --> 01:13:52.680
They sell time.

1341
01:13:52.680 --> 01:13:55.040
And there's only so much time in a day.

1342
01:13:55.040 --> 01:13:56.680
So if they're working for 12 hours,

1343
01:13:56.680 --> 01:13:59.840
they're trying to bill 12 hours, right?

1344
01:13:59.840 --> 01:14:02.960
So like Rose, let's say Rose has a manufacturing company.

1345
01:14:02.960 --> 01:14:05.840
She could sell 2000 units in five minutes.

1346
01:14:05.840 --> 01:14:07.520
Lawyer can't do that.

1347
01:14:07.520 --> 01:14:11.560
They can sell five minutes in five minutes, okay?

1348
01:14:11.560 --> 01:14:13.200
That's why the second that you talk to them

1349
01:14:13.200 --> 01:14:17.280
about something legal, the clock starts ticking, right?

1350
01:14:17.280 --> 01:14:20.240
So for that reason, you don't wanna be in legal trouble

1351
01:14:20.240 --> 01:14:23.440
because I've got a friend of mine who called me yesterday.

1352
01:14:23.440 --> 01:14:26.940
They got a trademark opposition filed against them.

1353
01:14:27.940 --> 01:14:30.680
And so he says, hey, I'm in your protection portal.

1354
01:14:30.680 --> 01:14:31.920
Can I ask you a question?

1355
01:14:33.680 --> 01:14:35.200
I said, yeah, sure.

1356
01:14:35.200 --> 01:14:36.040
What's the question?

1357
01:14:36.040 --> 01:14:37.700
And I answered it for him.

1358
01:14:37.700 --> 01:14:39.560
And he says, I wanna hire you

1359
01:14:39.560 --> 01:14:41.080
to handle the trademark opposition.

1360
01:14:41.080 --> 01:14:42.560
I said, yeah, all right, no problem.

1361
01:14:42.560 --> 01:14:44.040
I'm happy to help you out.

1362
01:14:44.040 --> 01:14:45.720
And so now I'm looking at his materials

1363
01:14:45.720 --> 01:14:49.240
to try to get him out of it, even though he can win.

1364
01:14:49.240 --> 01:14:51.160
And so this is something to keep in mind.

1365
01:14:51.160 --> 01:14:55.060
Even though you might be able to win in a legal battle,

1366
01:14:55.960 --> 01:14:59.320
you might lose, all right?

1367
01:14:59.320 --> 01:15:00.160
Enforcing your

1368
01:15:00.000 --> 01:15:06.400
legal right does and winning in a court of law does not mean that you always win. Because if

1369
01:15:06.400 --> 01:15:15.120
you spend $150,000 to win over something that costs $20,000, you lost $130,000. So just be

1370
01:15:15.120 --> 01:15:20.560
smart about your situation. So alright, I'm going to stop there. That's enough. We went over. That's

1371
01:15:20.560 --> 01:15:26.160
okay. You guys are awesome. You guys are worth it. If you have any questions on the offer,

1372
01:15:26.160 --> 01:15:29.760
please let me know because I don't want people getting stranded at the end and then trying to

1373
01:15:29.760 --> 01:15:35.600
figure out what to do. So please let me know. Even if you're trying to figure out payment or whatever,

1374
01:15:35.600 --> 01:15:40.400
let me know. We're trying to do this for you guys. So you guys are successful when your

1375
01:15:40.400 --> 01:15:45.600
companies flourish. It's really important to us. So with that, I'm closing