In this episode of the Thoughtful Entrepreneur, your host Josh Elledge speaks with the Entrepreneurial Patent Attorney, Author & Speaker of Modern Thompson Patent Law, Craige Thompson. Craige's journey into the world of patent law is a fascinating one. He grew up working for his entrepreneur father, which sparked his passion for business. After a decade-long career in electrical engineering, he transitioned to patent law. Over the past 24 years, he has worked with individuals and companies of all sizes, including tech giants like Apple, Google, Intel, and Honeywell. His mission is to protect entrepreneurs from financial ruin, a lesson he learned from witnessing his father's business collapse due to changes in government regulations. Craige explained that intellectual property falls into four categories: trade secrets, patents, trademarks, and copyrights. His expertise lies in patents and trade secrets, where he assists technology companies in safeguarding their innovative products and services from copycats and infringers. Craige emphasized the importance of protecting your brand reputation and trademarks. He explained that a strong brand reputation leads to a certain level of quality associated with your trademark. However, some copycats try to trick people by using similar trademarks, thereby cheapening your brand. He stressed the need to act if someone misuses your trademark. Craige also highlighted the value of intellectual property as a business asset. He explained that patents can be bought, sold, rented, used as collateral, or enforced against others. By securing your intellectual property, you increase the valuation of your company, whether you're looking to exit, scale, or create additional income through licensing deals.

Key Points from the Episode:

Introduction of Craige Thompson as a patent attorney and founder of Thompson Patent Law and Invention to Exit
Craige's background and experience in working with individuals and companies of all sizes
Explanation of the four areas of intellectual property: trade secrets, patents, trademarks, and copyrights
Importance of seeking assistance from an attorney in the process of protecting intellectual property
Discussion on protecting brand reputation and trademarks from copycats and improper use
The suggestion of exploring business solutions rather than immediate litigation in resolving trademark disputes
Highlighting the value of intellectual property as a business asset and its various uses
Recommendation of Thompson Patent Law's lightning prior art search for determining patentability
Emphasis on the...

1745 – Intellectual Property as a Business Asset with Craige Thompson

The Thoughtful Entrepreneur

1745 – Intellectual Property as a Business Asset with Craige Thompson