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Electrical and Computer Engineering, Patents, Business and Consulting

Transform your designing skills into successful inventions with patents & smart business strategies by Eric M. Dowling. Learn to select a design topic, patent claims, economic insights, and career paths. Discover the process of turning designs into inventions, patent strategies, and how to monetize your innovations. Explore real-world examples, patent economics, exploitation methods, and navigating the competitive landscape. Get tips on consulting, starting a venture, and the value of advanced degrees in an ever-evolving technology industry. Prepare for success as a patent agent with a winning strategy for a rewarding career.

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Electrical and Computer Engineering, Patents, Business and Consulting

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  1. Electrical and Computer Engineering, Patents, Business and Consulting Eric M. Dowling Dowling Consulting Inc.

  2. Outline Transforming from a designer into an Inventor Patent Claims Economics of design and patents Career and business models 1

  3. Selecting a design topic • If you find yourself cursing the way something is currently done: INVENT! • Look at the market size - if it is big - take it • Measure in millions or billions per year potential • Example: 2% of $20M/yr 2

  4. The Invention way to think • What is the previous technique? • What can I say is wrong with the previous technique? • How can I fix what I said was wrong? • Here is a block diagram/flow chart • Here is my patent and claims 3

  5. A Patent Strategy • Patents do not give you the right to produce, use or sell • Patents give you the right to prevent others from producing, using or selling • Make design assumptions based three to five years out, and start designing! • This helps anticipate future technology 4

  6. Turning a design into an invention • To be patentable it must be novel and nonobvious • If it is novel, it is arguably nonobvious • Even if it seems obvious to you - if it solves an important problem in a new way, it will probably fly 5

  7. Turning a design into an invention • Start with a large-market problem- e.g., Internet, microprocessor, wireless • Make technology assumptions • Generate a block diagram of a system, or • Generate a flow chart of a process 6

  8. Example - claims to an enhanced PC (1992) • The inventor realizes an inefficiency in data streaming within a PC • Network based video conferencing will grow rapidly • H.323 will be widespread • Market size will be $100M/yr + • 2% x $100M = $2M/yr royalty to inventor or company 7

  9. Example claims to enhanced IVR (1990) • Notice all the new telephone features • Phone companies and equipment manufactures collect $100M+/yr on them • Wouldn’t you like to own one? • Opportunities: Internet, messaging, multimedia convergence 8

  10. Learning claim language and patents • http://www.patents.ibm.com/ibm.html • http://www.uspto.gov/patft/index.html • http://www.uspto.gov/ • http://www.edisonpatents.com/ 9

  11. Patent Economics • Determine claim coverage market segment • Calculate the market size - number of units per year • Calculate gross revenue per year • Estimate 2% of this as cash flow • Or productize with venture capital for much higher effort and return 10

  12. Everything is for sale (IATV) • Stock analyst sees an opportunity • files patent in 1996 • sells patent in 1999 for undisclosed amount of cash, stock and royalties 11

  13. How to exploit an invention • Patent it, then • Wait for someone else to use it - then license it or sell it • Find a 100 lb gorilla fighting another and sell it as a club • Develop a business plan and seek venture capital • More venture money than ideas - $10x109 for Internet in Y2K 12

  14. Start-ups • Idea--> business plan --> venture --> development • Above requires a team effort - get business people on board • Or go to work for an existing start-up • Get a good stock option - share the risk and rewards 13

  15. Consulting • First get experience • Build a resume • What you do now will turn into cash later - invest wisely in yourself • Seek to get into a high demand niche • Charge as high of a rate as you can sustain 14

  16. Competition • Be a leader • Be ethical • Be energetic and enthusiastic • Love your work • Pride yourself on quality and technical abilities • Pride yourself on taking technical challenges, digging deep into details and learning 15

  17. Advanced Degrees • Your degrees coupled to your energy will convert to as much cash as you want • To consult in certain areas, advanced degrees help • MBA, JD and other options are also good, maybe further down the line • To be the best, you need to invest in yourself 16

  18. Patent Agent • Anyone with a B.S. in engineering/hard sciences is eligible • You must pass the same patent bar exam as patent attorneys • 33%-50% pass rates are typical • http://www.patentresources.com/ • $150/hr is typical 17

  19. A Winning Strategy • Embrace technical challenge • Realize your limitless brain potential • Set short and long term goals • Make choices today to guide your life through tomorrow • Follow a plan and watch for opportunities 18

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