I
always recommend that everyone be involved in some kind of small or
part-time business, using ideas and hobbies they come up with. It’s
educational, especially for youngsters, and it can eventually prove
profitable.
The
questions often arise about the protection of ideas and products
that may develop with such enterprise.
Copyright
procedures, along with trademarks, are not diffficult or expensive to
undertake. The patent question is another matter.
Patents
require a special attorney with an initial bill of about $10,000,
with more outlay assured. Then you have the distinct possibility that
a patent may have to be defended against infringement by others who
have bigger wallets. You may be facing millions of dollars of
expense.
Patents
are therefore not the protection they first appear to be. The
first-to-market with the most funds, may well be. (See the Earl J.
Weinreb NewsHole® comments.)
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