Dragons’ Den: How to Review a Patent Application?

During the two days of Dragons’ Den auditions last week, there were some common questions that I asked some of the entrepreneurs that came to pitch in front of me – Have you thought about protecting your product ideas? Is it a patentable idea? Do you have a U.S. and/or Canadian patent?

A proper discussion of intellectual property and the protection of it (using trade secret, patent, etc.) are beyond the scope of this blog entry. But let me point to my personal favourite 52 minutes long *free* online lecture by the straight talking and insightful US Patent Attorney Katherine White – “Intellectual Property: How to Review a Patent Application“

US patent covers the US market and Canadian patent covers Canada. Get covers for both market if you can afford all the associated legal fees, if you can only afford one patent, get the US patent because you get a much bigger market in the US.

Note: Patent is great but it is only as good as the depth of your pocket book to hire expensive patent lawyer to sue to protect your patent.