Earning a patent for your invention is a significant step in your journey as a scientist or entrepreneur, but it is not the end. In fact, it is just the beginning of a more substantial undertaking with your new idea. There are plenty of resources available to walk you through the steps to gain a patent, but what happens after that?
As an entrepreneur, you seek to maximize the return on your hard work by obtaining patents and establishing your intellectual property (IP). According to some experts, there has been a significant drop in entrepreneurship in the last decade due to policies which weakened the patent system.
The invention process is rarely easy. It often requires massive amounts of time, effort and money and can take months or years. Now, after a grueling process of dreaming, development and trial and error, you have come up with an idea that you are ready to bring to life. Perfecting your invention was only the first step: Now comes the difficult process of acquiring a patent.
A year-end wrap-up of patent highlights in a major newspaper focused on a trend toward what it called "stupid patents."
Riding the wave of victory generated by the legalization of marijuana in California back in November, Los Angeles voters cemented their commitment for marijuana reform on March 7 by voting overwhelmingly yes for Measure M. This measure, approved by 79.36% of more than 242,000 voting Los Angelenos, allows the city to repeal the current ban on medical marijuana dispensaries, and give the city tools to enforce regulations, such as authorizing fines and criminal penalties. In addition, Measure M gives the city the power to issue licenses to marijuana businesses for the first time, and lays the groundwork for marijuana sales tax revenue for the city once recreational sales begin next year.
Following the rampant and combative anti-smoking ads of the 90's and early 2000's was an era filled with young people vehemently against and disgusted by smoking cigarettes. It was this revulsion that propelled the e-cigarette and vaping industry, serving the droves of people addicted to nicotine and ashamed of smoking. The growth of this industry has been exceptional, with 8,500 vape shops opening in the U.S. and the sale of vape equipment and products climbing to $3.5 billion since 2008.
Often overshadowed by other aspects of this past election cycle, the legalization ofrecreational marijuana in three major states, including California, is a major step for federal reform. As of now, under federal law, marijuana remains illegal, classified as a Schedule 1 substance under the Controlled Substance Act and enforced by the Drug Enforcement Administration. Substances classified as Schedule 1 are determined by the Food and Drug Administration to have high potential for dependency and no accepted medical use.
Looking healthy has been increasingly in vogue in the past decade, with the Hollywood obsession of looking slim, tanned, and fit. People spend hours in the gym lifting weights, doing yoga, and jogging on the streets. Active wear is practically high fashion these days. Health is becoming a culture, where you compete with your friends over how many steps you take a day, how many protein shakes you have had this week, and how many hours of sleep you got last night.
A business plan is one of the most important documents to have, whether your business is just beginning, or readily established. Many people mistake it as a tool only used in order to attract investors and obtain bank loans, and believe it is not necessary if they feel their company is already financed. However, a business plan also lays out growth projections and the direction you wish to take the business in a few years' time. Drafting a business plan forces you to review your business strategies in order to make sure your goals are viable.
Computing firm ZeniMax Media and tech giant Facebook have been in a two-year legal battle involving allegations of copyright infringement and trade secret misappropriation in the development of the Oculus Rift, a virtual reality device. On February 1, 2017, a Dallas jury ordered Oculus VR, the relevant subsidiary of Facebook, to pay $500 million to ZeniMax for violation of a non-disclosure agreement. However, Oculus was found not to have misappropriated ZeniMax's trade secrets.