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August 15, 2023 40 mins

Protecting Your Narrative in an Open Market

Every business has Intellectual Property, and today it’s more valuable than ever. But most businesses don’t recognize it, protect it, or exploit it. It’s usually an afterthought. When an inventor develops something new, management may start thinking about patents. When a new brand is ready to launch, management may start thinking about trademarks. When an employee leaves and takes your new product to a competitor, management may think about trade secrets.

Every business needs to make Intellectual Property a top priority of business planning. Financial experts say that the Intellectual Property portfolio is typically one-third or more of the total value of a business. Intellectual property can also lead to greater profits, expanded market share, multiple streams of revenue, and better business reputation.

 

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Ladies, gentlemen and everyone in between. Welcome to the folk tellers stories. We shared podcast this week, we're gonna be talking about securing your story a little professional and personal advice on protecting your narrative on the open market. So the beggars and thieves can't take your good story telling. Uh I'm here with my compatriots, Kurt David and I keep thinking about your opening here of ladies and gentlemen and everybody in between because now we're talking about protection. Ok. I'm not in touch with that and, and cut that out. But are you wearing any? Ok, this is, we're, we're going down the rabbit hole quick, Steve can't even get his name out, but uh you're here. Who else is here? Well, I'm here, Stephen Sadler, Stephen Sadler. I'm glad you're here. Stephen Sadler too. I would have missed you if you weren't here. So, anyway, all right. So, uh uh that was like just checking it in with the laughter, right? So securing your story, uh We've all published. Uh Some of us had patented, uh our stories, our ideas and, you know, it's a, it's a hidden world. It's a hidden world. I, the quote, I begin with is uh Pablo Picasso says a bad artists, copy good artists steal. I'm like, oh, that's not nice. But uh uh one of our, so I wanna want to start with a, is a book written by um one of our friends and actually our intellectual property uh attorney's name is Bill Nier. Bill wrote a book, uh a really cool book uh called the Business Owner Guide to Intellectual Property. Turning your ideas into gold. And Bill is an IP lawyer. Uh Bill couldn't be with us, but he's letting us, uh he's letting us actually steal some of his stuff. So that's kind of cool. Um Well, I guess it's not stealing if he gave us the rights. Picasso said it's ok. All right. So here's what, here's what uh Mr says about intellectual property and about protecting your, your creative ideas and stories and endeavors. He said every business and this could be every person needs to make intellectual property a top priority in their planning. Financial experts say that intellectual uh an intellectual property portfolio, say that three times fast is typically one third or more of the total value of a business. Intellectual property can also lead to greater profits, expanded market share, multiple streams of revenue and better business reputation. Uh Bill was the uh lawyer for uh Kellogg's for years and years and years. And uh they sold, when Kellogg sold um part of their portfolio, they sold Ernie the Elf uh from Kieler cookies and he had been uh the Chief Elf since 1968. Uh and in 2001, Kellogg's purchased Kieler Foods for approximately $4.5 billion. The intellectual portfolio that Ernie and his friends in the tree represented was $1.5 billion of that value. That is one very expensive Elf. And one of the things that bill advises is it's 33 steps. He says you need to research, collect and protect and we're gonna talk a little bit about that. So what do you, um, what do you guys feel like? Uh is it a, is it a waste of time to try to lock down your, your ideas and your story or is it something, you know, in your personal experience? Is it something that you've, uh, you've had good luck with no luck with or what, what about you, Steve? I mean, you've done, you've done a lot of stuff on your, uh your ideas and your stories. Um, some things you've, you've just written, like I can tell you as a writer, um, you retain, like if, if you write something down and you have a physical or a digital copy of it, um, that you can prove is written at a certain time, it, it's got sort of automatic copyright but you don't have all the protections versus filing it. But Steve, what about, you know, what's been your experience in this because you've done a lot with like, like patents and devices and technology and stuff. I think it depends on the reason why you're trying to secu

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