Here’s a bright idea, visit a patent office before you go public

There is at least one thing the Conservatives and Liberal Democrats can definitely agree on – bright ideas and business start-ups will be vital to economic growth.

Pledges of support for enterprise featured in both their manifestos, including access to business mentors and loans, and a focus on green technology start-ups.

While Government bodies such as UK Trade & Investment and the Department for Business, Innovation and Skills help business start-ups, for those at the earliest stages of turning ideas into marketable products there is a gap in support.

Professor Guido Cozzi of Durham Business School says: ‘Our patent laws are satisfactory, but the real weakness lies in the protection of ideas before they receive a patent.

‘We often hear alarming reports of the huge costs of industrial espionage to the corporate sector, and the US was in a similar position in the late 1970s, when their open innovative environment became a goldmine for industrial spies.’

Entrepreneurs in the US enjoy a grace period of up to a year to file a patent, during which time they can make their ideas public. In Britain ideas must be kept confidential until their owners have taken professional advice and filed a patent application.

‘A surprising number of people don’t – they tell everyone about their big idea and then find it is too late to apply for a patent,’ says Andrea Brewster, a partner with law firm Greaves Brewster, based in Cheddar, Somerset.

‘Applying for a patent is crucial, but first you need to establish your product is commercially viable. If in the course of your research you have to discuss your idea with others, you should use a non-disclosure confidentiality agreement.’

Saban Demirbasa made sure his bright idea was protected. After losing his fourth mobile phone he came up with an idea that meant he would never lose another.

The i-migo is a wireless digital key that backs up valuable data from a mobile phone and triggers an alarm when it is separated from the phone by more than 20 yards.

‘The idea was simple, but as I’m not a technical expert, I needed help from those who were to make it work,’ says Saban, 41, from Dulwich, south-east London.

‘I knew the idea was vulnerable, so I had non-disclosure agreements with companies I dealt with and hired an attorney to help with the patent application.’

Patents have been granted for i-migo in Britain, the US and China. A launch is planned for October.

The Intellectual Property Office at ipo.gov.uk and the Chartered Institute of Patent Attorneys at cipa.org.uk are sources of advice.

Professor Cozzi says: ‘Unless they are connected to a university, the best bet for entrepreneurs is to find an insurance policy that covers trade secret infringement.’

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Tags: Business Advice, Enterprise Zone, inventions, small business, SMEs, Starting a Business, Starting a Business - Advice, startups

Posted by Katie Taylor on Sunday, May 16th, 2010 at 9:00 am.

Filed under News, SMEs, Starting a Business, Tagged as: , Business Advice, Enterprise Zone, inventions, small business, SMEs, Starting a Business, Starting a Business - Advice, startups.