Home > Features > Mo' Patents, Mo' Money! • Bookmark   • Newsletters   • Register Search Options

FEATURE

Mo' Patents, Mo' Money!

Mo' Patents, Mo' Money!

November 28, 2003
Text size: 
Get XBIZ News
XBIZ Research
Will virtual reality boost the paysite market?
Yes, it will soon
  39.66%
Yes, but in a few years
  36.87%
No
  23.46%
Out of 179 votes. Results based on votes submitted by members of XBIZ.net social network.

" So if you are up late at night and watching TV, and you see those ads for patenting your invention or idea, maybe you might pay more attention to them now. Who knows, you may have some crazy idea today, that technologically speaking can't be created, but wait about 5-10 years and maybe it will. And by then, you'll be able to start suing companies and licensing patents. "

As you can tell by reading the news and this website, there is a new way to make money. Forget about making a product that people will buy and use. Forget about inventing gadgets and devices that cause consumers to flock to you. Forget about starting a dot-com business and trying to be execute a business plan.

The way to make money nowadays is to buy patents, or to file patents for all kinds of ideas, and then later, license the patent to other companies.

For those that remember the Unisys/GIF issue of having to license the GIF patent, there is a small sigh of relief that the patent just expired! But as you recall, Unisys came out of dormancy by requiring software manufacturers to license the GIF image format. GIF images were so widely used by website and graphic programs that the whole computer industry was up in arms.

A company down in Austin, Texas is now coming back for the Unisys/GIF sequel and claiming the patent to JPEG! They are taking the right approach towards patent enforcement/licensing, by targeting businesses that MAKE PRODUCTS that utilize these patents.

If Forgent had followed Acacia's strategy, they would be suing every website that had JPEG images on them. This author believes that Acacia should have FIRST targeted companies like Real Networks and Microsoft for producing the technology that they felt violated their patents. If they really did own the patent to streaming/downloading audio, then let the big businesses (who are profitable) deal with the licensing issues. They in turn would end up passing down costs to the consumers.

Speaking of which, do you know how much money a DVD manufacturer has to pay for MPEG, Dolby, and DVD licensing to make a DVD player? The answer is about $20 per machine.

This article details the licensing fees and how China is producing DVD players WITHOUT paying for licenses (bad Chinese manufacturers, bad). The cost of licensing a patent gets passed onto the consumers eventually, so with these kinds of licensing fees, and despite mass purchases by Walmart, we'll probably never see a $20 DVD player for sale.

Patents that don't have any prior art to invalidate them are good patents. So while it means that products cost more due to paying for a patent license, it is the patent holder's right to profit from their inventions.

So if you are up late at night and watching TV, and you see those ads for patenting your invention or idea, maybe you might pay more attention to them now. Who knows, you may have some crazy idea today, that technologically speaking can't be created, but wait about 5-10 years and maybe it will. And by then, you'll be able to start suing companies and licensing patents.

You don't even need to have a good patent; just interpret a patent to mean more than it really represents. You don't even need a business plan or investors! Just come up with crazy ideas, file the patents, and wait for technology and people to start using your idea. This is the new, new, new, new, new, new economy.


BUSINESS ANALYSIS

Sexperts Tout Men’s Wellness Benefits of Pleasure Products

Sex, more and more, is being discussed not only from an erotic standpoint, but also, from a health and wellness standpoint. MensHealth.com, MensJournal.com and many other mainstream websites have been... More »

Male Sex Toys Get Creative With Non-Anatomical Designs

Male toys are becoming more and more popular for both straight and gay men. While the emphasis has long been on women’s toys, today men’s products are a burgeoning market. Channel 1 Releasing... More »

Manufacturers Recreate Lifelike Sex for Male Masturbation

Sex is sex, even when you have it with yourself. Wherever that little love dance goes, sex toys are sure to help guide you on the journey. When it comes to men, the industry appears to have thrown its... More »
XBIZ NEWSLETTERS
Stay informed of the latest industry developments. Get XBIZ newsletters delivered to your inbox. Subscribe today!
Enter email address:

* To manage existing subscriptions click here.






POPULAR PRODUCTS & SERVICES
Submit your press release to
multiple news outlets with 1 click.
Subscribe to RSS news feeds or
add free content to your website.
Access XBIZ news and articles
with your mobile device.
Subscribe to XBIZ World magazine, the industry's leading e-commerce trade publication, delivering in-depth coverage of the online, mobile and ancillary digital markets.

UPCOMING EVENTS

Latin America Adult Business Expo

Jul 10 - Jul 12
Cartagena, Colombia

ANME Founders Show

Jul 16 - Jul 18
Los Angeles Marriott Burbank Airport

QWEBEC Expo

Aug 03 - Aug 06
Montreal, Quebec

XBIZ Berlin 2017

Sep 11 - Sep 14
Berlin, Germany
Everyday thousands of business professionals browse XBIZ's industry directory for quality products and services. Not listed yet? Your company could be losing potential new business. Submit your company today!
Use XBIZ RSS feeds to stay informed of the latest industry developments or as a content syndication tool for your website!