Having been an avid fan of BBC’s Dragons’ Den for many
\nyears, long before I knew a patent claim from a trade mark, I now
\nalso partake in the guilty pleasure of many IP professionals of
\n‘fact-checking’ the IP claims made by entrepreneurs seeking
\na slice of fortune in the Den.<\/p>\n
In the latest edition of the excellent “Dragons’ Den IP
In one pitch, a composting toilet business, “Compo Closet
“If you had come in here in
He then goes on to offer the couple the \u00a3100k they asked
In another pitch, a cat flap which used AI to determine whether
Whether you’re pitching in a boardroom or a TV studio, your
The content of this article is intended to provide a general
\nblog<\/a>” from the UK Intellectual Property Office, which
\nhighlights every week how critical early stage IP protection is for
\nfounders entering the Den and provides some useful reminders for
\nany business developing innovative products, the question of IP
\nprotection comes up in relation to two of the featured pitches.<\/p>\n
\nLtd” pitched their product, a self-contained, portable
\ncomposting toilet specifically designed for campervans, asking for
\n\u00a3100k in return for a 3% stake in the business. When
\nquestioned about IP protection for their idea, they inform the
\nDragons that they have patent applications filed, but not yet
\ngranted, in several countries, including the UK. Later, at the
\nsharp end of the pitch, Peter Jones makes his move:<\/p>\n
\n12 months time, and you had your patent, and you had everything
\nteed up…I think the offer of 100k at 3% would be right. But I do
\nthink that you’re overvaluing at this moment what you’ve
\ngot.”<\/p>\n
\nfor, but at a much steeper 20% stake in their business,
\neffectively devaluing the company by almost \u00a33m in
\nthe process. Although it must of course be remembered that
\nDragons’ Den is primarily an entertainment show made for
\ndramatic moments like this, and that not all of this deficit could
\nreasonably be attributed to the lack of a granted patent, this
\nexample highlights the value and credibility which comes from early
\nconsideration of IP strategy when seeking investment in a business.
\nThis can be especially important when a product involves physical
\nhardware or technical methods, each of which may be covered by
\npatent protection.<\/p>\n
\nyour favourite fluffy friend was bringing you a ‘present’
\nfrom outside was pitched. The inventors again highlight their
\npending GB patent application, but a closer look at the prosecution
\nof the patent so far appears to show they may have come up against
\nsome of the common problems found when trying to protect AI
\ninventions. However, the tide may be changing on this front, as
\ncovered by my colleague Lara Sibley<\/a> in her in-depth analysis of the
\nrecent UK Supreme Court ruling on patents and AI<\/a>.<\/p>\n
\nability to articulate your IP protection, and how it underpins your
\ncompetitive advantage, is often as important as the product itself.
\nDragons’ Den continues to offer a valuable lens on the
\nreal\u2011world commercial impact of patents, trade marks and
\ntechnical differentiation.<\/p>\n
\nguide to the subject matter. Specialist advice should be sought
\nabout your specific circumstances.<\/p>\n","protected":false},"excerpt":{"rendered":"Having been an avid fan of BBC’s Dragons’ Den for many
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