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Casual Articles - The Steamroller Effect
Now that you have conducted comprehensive research as indicated in (Part 02) of this mini series, you are more prepared to begin to assemble your thoughts and data into a business plan format. Before doing that, you need to consider a few things:WHAT A BUSINESS PLAN ISA written business plan is a road map from where you are now to where you want to be one, two, five and ten years from now with your business. To write a good plan you must have vision for your business now and well into the future. Why? You may think you can start your business without a formal written plan, and you can, but you will have far more unanticipated problems, probably make more costly mistakes and the probability of failure is far higher. What if I put you in a rowboat without oars, no map, no compass, and no sextant and pushed you away from shore. Then I told you to go to a specific dock (called success) in France, what do you think are the chances of you floating across the ocean and accidentally getting there are? You wouldn’t get there would you? You need the oars, the map, the compass and the sextant to navigate! Even with these tools it would be difficult to navigate across the ocean even if you had experience. The same holds true for a business plan. The plan is the oars, map, compass and sextant for your business and is absolutely critical for you to go from where you are now, to that specific dock called success. Your plan will chart your course and the better the plan, the easier the trip.THE REASONS FOR WRITING A PLANiring intensive work by the litigator, as patent attorneys charge roughly $200-$500 per hour.(9)
Importance of Intellectual Property
People often underestimate how essential intellectual property rights can be to a business. The media is rife with examples of battles over intellectual property, which range in severity from questionable copying to blatent theft.
We can look to the recent media headlines for a more in depth view of the problem at hand.
Earlier this year, Nike, Inc. issued a formal apology to "the members of iconic Washington, D.C., hardcore act Minor Threat and frontman Ian MacKaye's Dischord Records for "the creation of a tour poster inspired by Minor Threat's album cover"".(10) Why was Nike, Inc. issuing an apology? MTV reports that, "The poster, for Nike's Major Threat skateboarding demo tour (used to promote its newest line of SB shoes), misappropriated not
To attract clients who pay in full and out of pocket for your services, it's imperative to position yourself as a helpful expert. This is true whether you are a business consultant, a beautician, a psychotherapist, a gardener, a car mechanic, a coach or a massage therapist.It's a simple fact of human behavior: People are more likely to believe that you can help them if they perceive you as an expert, which, in turn, increases the likelihood that they will hire you. For example, you wouldn't choose a car enthusiast to overhaul your engine; you'd choose an experienced mechanic.Newsletters are one of the simplest and most effective ways to establish this expertise. Whereas advertisements, fancy "me-oriented" websites and glossy "ego" brochures are all about selling-tooting your own horn-newsletters are about educating, guiding and advising, which is what experts do. Put more simply, newsletters are about helping. They become an extension of your services, a place where people get a taste of what you offer. And all the while, they keep your name before your public. They are a regular reminder that you are able and available to help with life's difficulties.Establishing an expertise through newsletters requires consistent and intentional efforts. Below are some guidelines to follow when using a newsletter to market your private practice.Fill your newsletter with helpful information that readers can use in their lives. Give suggestions, new ideas, "how to's," warnings, resources, tools or advice. You may include brief information about your servi
In order to understand the current battle, one must first understand what Intellectual Property is. Intellectual Property is defined as "Property that derives from the work of the mind or intellect; specif An idea, invention, trade secret, process, program, data, formula, patent, copyright, or trademark or application, right, or registration relating thereto". (1) What does this mean in layman's terms? Intellectual property is an item with commercial value, such as a new purse design, that can be protected by patent, trademark or copyright law.
Many business owners in the United States are surprised to find that Intellectual Property rights originated with the Constitution (Article 1, Section 8, Clause 8)(2), which states that Congress shall have the power “to promote the Progress of Science and useful Arts, by securing for limited Times to Authors and Inventors the exclusive Right to their respective Writings and Discoveries.”
It seems that even the founding fathers felt that we should have the right to exclusive ownership and use of our inventions, as well as the right to reap the rewards gained by granting permission of use to others.
Protection Under the Law
Today, there are three methods through which intellectual property can be protected. These methods include patents, copyrights, and trademarks.
* A patent protects "exclusive rights to a process, design, or new invention". (3)
* A trademark protects "a name, symbol, or other device identifying a product". (4)
* A copyright protects "literary, musical, dramatic, or artistic work". (5)
The cost of enacting these methods of protection can be exorbitant. An excellent example of the fee for protecting your work is the price tag attached to a patent, which can range from approximately $400 to $1,000 or more. According to one law firm, the actual cost to file a patent for something easily described is roughly $2000, while something more complicated can incur a fee up to $10,000. (6)
While filing for a trademark is typically less expensive, the process can still rack up fees in excess of $1,000 to $1,500 per application. (7)
The average start up investment for an arts and crafts business is $9,000.(8) When you take into consideration the requirements on city, county, state and federal levels for business licences, the amount paid out for basic office supplies, the cost to generate a website or other marketing materials, and the cost of ordering the necessities to produce a final product, there is little room left in the budget for filing for these most basic protections under the law.
There is more to the story than just the fees incurred when registering for a patent. Every patent can be challenged, with many leading to trial cases with outrageous amounts of money exchanging hands. As one law firm reports, the average cost of patent litigation through trial can range from $500,000 to near $2,000,000- and that amount is only for one of the constituents! These costs can climb rapidly for high profile cases requiring intensive work by the litigator, as patent attorneys charge roughly $200-$500 per hour.(9)
Importance of Intellectual Property
People often underestimate how essential intellectual property rights can be to a business. The media is rife with examples of battles over intellectual property, which range in severity from questionable copying to blatent theft.
We can look to the recent media headlines for a more in depth view of the problem at hand.
Earlier this year, Nike, Inc. issued a formal apology to "the members of iconic Washington, D.C., hardcore act Minor Threat and frontman Ian MacKaye's Dischord Records for "the creation of a tour poster inspired by Minor Threat's album cover"".(10) Why was Nike, Inc. issuing an apology? MTV reports that, "The poster, for Nike's Major Threat skateboarding demo tour (used to promote its newest line of SB shoes), misappropriated not
When business people converse, the terms “small business owner” and “entrepreneur” are used interchangeably as if they mean the same thing. Yet I discern two very different connotations. Is this a matter of semantics? Or is there an important distinction to be made?According to government statistics, “small businesses” comprise the vast majority of enterprises across North America, most of which close their doors before their fifth anniversary. What is more interesting to me is that I have never seen a government study that discusses the flailing “entrepreneur.” Then again, perhaps the only people who write about entrepreneurs are entrepreneurs.I have an admission to make. I expect less from a small business owner than I do from a self-proclaimed entrepreneur. Think about it this way: if you were just introduced to someone at a local networking event, and he asked what you do, which of the following answers are you most likely to give?“Hi. My name is Joe. I’m a small business owner.”OR“Hi. My name is Joe. I’m an entrepreneur.”The first statement feels a bit more comfortable, doesn’t it? The second one, however, conveys a forthrightness that seems to presuppose a certain level of professional achievement. It is too bad that so many “small business” people are reluctant to admit as much to themselves or to their colleagues.Yet the presupposition of success—to know precisely what “success” looks like and then to act as if you have already arrived—is precisely what separates the boys from the men. While everyo
Many business owners in the United States are surprised to find that Intellectual Property rights originated with the Constitution (Article 1, Section 8, Clause 8)(2), which states that Congress shall have the power “to promote the Progress of Science and useful Arts, by securing for limited Times to Authors and Inventors the exclusive Right to their respective Writings and Discoveries.”
It seems that even the founding fathers felt that we should have the right to exclusive ownership and use of our inventions, as well as the right to reap the rewards gained by granting permission of use to others.
Protection Under the Law
Today, there are three methods through which intellectual property can be protected. These methods include patents, copyrights, and trademarks.
* A patent protects "exclusive rights to a process, design, or new invention". (3)
* A trademark protects "a name, symbol, or other device identifying a product". (4)
* A copyright protects "literary, musical, dramatic, or artistic work". (5)
The cost of enacting these methods of protection can be exorbitant. An excellent example of the fee for protecting your work is the price tag attached to a patent, which can range from approximately $400 to $1,000 or more. According to one law firm, the actual cost to file a patent for something easily described is roughly $2000, while something more complicated can incur a fee up to $10,000. (6)
While filing for a trademark is typically less expensive, the process can still rack up fees in excess of $1,000 to $1,500 per application. (7)
The average start up investment for an arts and crafts business is $9,000.(8) When you take into consideration the requirements on city, county, state and federal levels for business licences, the amount paid out for basic office supplies, the cost to generate a website or other marketing materials, and the cost of ordering the necessities to produce a final product, there is little room left in the budget for filing for these most basic protections under the law.
There is more to the story than just the fees incurred when registering for a patent. Every patent can be challenged, with many leading to trial cases with outrageous amounts of money exchanging hands. As one law firm reports, the average cost of patent litigation through trial can range from $500,000 to near $2,000,000- and that amount is only for one of the constituents! These costs can climb rapidly for high profile cases requiring intensive work by the litigator, as patent attorneys charge roughly $200-$500 per hour.(9)
Importance of Intellectual Property
People often underestimate how essential intellectual property rights can be to a business. The media is rife with examples of battles over intellectual property, which range in severity from questionable copying to blatent theft.
We can look to the recent media headlines for a more in depth view of the problem at hand.
Earlier this year, Nike, Inc. issued a formal apology to "the members of iconic Washington, D.C., hardcore act Minor Threat and frontman Ian MacKaye's Dischord Records for "the creation of a tour poster inspired by Minor Threat's album cover"".(10) Why was Nike, Inc. issuing an apology? MTV reports that, "The poster, for Nike's Major Threat skateboarding demo tour (used to promote its newest line of SB shoes), misappropriated not
Creating has been a way of life for me as long as I can remember, and my passion for dolls, teddy bears and painting have been ever present. As a former preschool teacher, I have always enjoyed children, and naturally, my favourite dolls to create were child dolls. Fast forward several years, having been married for 5 years, my husband and I were expecting our first child. The excitement was almost more than I could handle! Well, suffice to say the delivery was nothing short of traumatic…but worth every moment when I held that tiny baby and looked into those barely opened little eyes. It was love at first sight.It was not long after that point that the thought of returning to work and giving 100% of myself to the children of others, became too much to bear. So I decided to leave my full time teaching position, my 12 years of seniority, my 4 weeks paid vacation, my security and stability, not to mention other benefits and perks; and follow my ever-present dream of owning my own business. Once outside of my comfort zone, there was no looking back.It began with custom hand painted children’s furniture, which seemed to merge two of my favourite pastimes quite nicely. It then grew to include my 2nd passion, teddy bears. Soon designing patterns and kits and teaching classes followed. One year and a small business course later, I was a bona fide entrepreneur!Here I am now; firmly planted in the middle of year 3, and still the surprises keep arriving. Approximately a year ago, I launched a line of cloth doll patterns and kits. These dolls had m
* A patent protects "exclusive rights to a process, design, or new invention". (3)
* A trademark protects "a name, symbol, or other device identifying a product". (4)
* A copyright protects "literary, musical, dramatic, or artistic work". (5)
The cost of enacting these methods of protection can be exorbitant. An excellent example of the fee for protecting your work is the price tag attached to a patent, which can range from approximately $400 to $1,000 or more. According to one law firm, the actual cost to file a patent for something easily described is roughly $2000, while something more complicated can incur a fee up to $10,000. (6)
While filing for a trademark is typically less expensive, the process can still rack up fees in excess of $1,000 to $1,500 per application. (7)
The average start up investment for an arts and crafts business is $9,000.(8) When you take into consideration the requirements on city, county, state and federal levels for business licences, the amount paid out for basic office supplies, the cost to generate a website or other marketing materials, and the cost of ordering the necessities to produce a final product, there is little room left in the budget for filing for these most basic protections under the law.
There is more to the story than just the fees incurred when registering for a patent. Every patent can be challenged, with many leading to trial cases with outrageous amounts of money exchanging hands. As one law firm reports, the average cost of patent litigation through trial can range from $500,000 to near $2,000,000- and that amount is only for one of the constituents! These costs can climb rapidly for high profile cases requiring intensive work by the litigator, as patent attorneys charge roughly $200-$500 per hour.(9)
Importance of Intellectual Property
People often underestimate how essential intellectual property rights can be to a business. The media is rife with examples of battles over intellectual property, which range in severity from questionable copying to blatent theft.
We can look to the recent media headlines for a more in depth view of the problem at hand.
Earlier this year, Nike, Inc. issued a formal apology to "the members of iconic Washington, D.C., hardcore act Minor Threat and frontman Ian MacKaye's Dischord Records for "the creation of a tour poster inspired by Minor Threat's album cover"".(10) Why was Nike, Inc. issuing an apology? MTV reports that, "The poster, for Nike's Major Threat skateboarding demo tour (used to promote its newest line of SB shoes), misappropriated not
Publishing Guidelines: You may publish my article in your newsletter, on your website or in your print publication provided you include the resource box at the end. Notification would be appreciated but is not required.On this digital Century the business administration is radically moving for new ways, for the Next-Generation of Business Administration. For that reason, this series of articles will show some tips on that new way of doing business.What is Business Intelligence & Data Mining BI?: Optimize - At this stage, the enterprise's knowledge workers are very focused on incremental process improvements and refining the value-creation process. Everyone understands and uses analysis, trending, pattern analysis, and predictive results to increase efficiency and effectiveness. The extended value chain becomes increasingly critical to the organization, including the customers, suppliers, and partners who constitute intercompany communities.What is Business Intelligence & Data Mining BI?: Retailers are telling us over and over that they are seeking a single, stable, reliable, and proven provider of superior BI solutions. They are implementing projects that span multiple years and will deliver value for years to come.What is Business Intelligence & Data Mining BI?: BI business processes Organizations typically gather information in order to assess the business environment, and cover fields such as marketing research, manufacturer or market research, and competitor analysis.What is Business Intelligence & Data Mining BI?: Leading retai
The average start up investment for an arts and crafts business is $9,000.(8) When you take into consideration the requirements on city, county, state and federal levels for business licences, the amount paid out for basic office supplies, the cost to generate a website or other marketing materials, and the cost of ordering the necessities to produce a final product, there is little room left in the budget for filing for these most basic protections under the law.
There is more to the story than just the fees incurred when registering for a patent. Every patent can be challenged, with many leading to trial cases with outrageous amounts of money exchanging hands. As one law firm reports, the average cost of patent litigation through trial can range from $500,000 to near $2,000,000- and that amount is only for one of the constituents! These costs can climb rapidly for high profile cases requiring intensive work by the litigator, as patent attorneys charge roughly $200-$500 per hour.(9)
Importance of Intellectual Property
People often underestimate how essential intellectual property rights can be to a business. The media is rife with examples of battles over intellectual property, which range in severity from questionable copying to blatent theft.
We can look to the recent media headlines for a more in depth view of the problem at hand.
Earlier this year, Nike, Inc. issued a formal apology to "the members of iconic Washington, D.C., hardcore act Minor Threat and frontman Ian MacKaye's Dischord Records for "the creation of a tour poster inspired by Minor Threat's album cover"".(10) Why was Nike, Inc. issuing an apology? MTV reports that, "The poster, for Nike's Major Threat skateboarding demo tour (used to promote its newest line of SB shoes), misappropriated not
Branding is an extraordinarily powerful marketing tool that is commonly overlooked. Your business needs to create an image of your company in the minds of consumers. Contrary to what most people believe, branding isn’t just a logo. Your businesses purpose, focus, and image all must be combined to create your brand. There are several benefits from making your brand stick in consumer’s heads.Create MemorabilityIt’s hard to remember a company with a generic name. You may not be able to distinguish their purpose and business focus. And why would you call a company if you couldn’t tell what they did? Branding your business ensures consumers will know what you’re about. And they’ll know it without having to look you up in the phone book because they will remember you. Don’t you want people to think of your businesses image when they need your products or services? Creating a successful corporate logo and brand ensures that your company will be thought of; and people will want to go no where else to get what they need. Customer LoyaltyThe fact is, people build close bonds with brand identities. Consumers want quality products they can trust. So, your business should have an identity that your customers can cling to. If your company delivers great products and services and has a great brand identity, people will remember you. Not only will they remember you and give you repeat sales, they will also refer friends and family who will do the same. A brand identity is crucial
Importance of Intellectual Property
People often underestimate how essential intellectual property rights can be to a business. The media is rife with examples of battles over intellectual property, which range in severity from questionable copying to blatent theft.
We can look to the recent media headlines for a more in depth view of the problem at hand.
Earlier this year, Nike, Inc. issued a formal apology to "the members of iconic Washington, D.C., hardcore act Minor Threat and frontman Ian MacKaye's Dischord Records for "the creation of a tour poster inspired by Minor Threat's album cover"".(10) Why was Nike, Inc. issuing an apology? MTV reports that, "The poster, for Nike's Major Threat skateboarding demo tour (used to promote its newest line of SB shoes), misappropriated not only the Minor Threat logo, but the imagery from the band's 1981 self-titled EP and its 1988 Complete Discography." (10) Sources have not published any further information on the topic.
Another example of this infringement of intellectual property can be found in the case of Margaret Nicole of Manhattan and Abercrombie & Fitch Co..
According to the New York Times, Abercrombie & Fitch Co. was selling a bag identical to those made by Margaret Nicole of Manhattan, and Margaret Nicole of Manhattan owner Nicole Dreyfuss "said that within two weeks, Abercrombie's lawyer, Frank J. Colucci of the New York law firm Colucci & Umans, agreed to pull the purse and make a settlement.".(11)
Defending the Store
These stories are, however, unusual. The majority of small businesses do not have the means to fight large companies when their designs are stolen or their livelihood threatened by lawsuit. Instead, they are forced to hand over the results of their hard work to colossal corporations simply because they can't afford to defend themselves.
The epitome of this instance would be the current litigation brought against the small online retailer Virgin Threads, LLC.
Virgin Threads, LLC was formed in August 2004, and is currently being sued by Virgin Enterprises. As one media outlet reported, "Virgin Enterprises, Richard Branson's group of companies, has tried to stop others from using the word "Virgin" in names and domain names."(12)
The complaint documents filed in this federal lawsuit indicate that Virgin Enterprises believes the defendents named, "registered the domain names VIRGINTHREADS.COM, VIRGINFASHION.COM, VIRGINCIGAR.COM, VIRGINPUBLISHING.COM, and I-VIRGIN.COM with bad faith intent to profit from VEL's VIRGIN mark and with specific intent to mislead consumers."(13)
The owner of Virgin Threads, LLC, Jason Yang, says this of his current situation, "I had planned to trademark Virgin Threads soon but in November 2004, I was served with the lawsuit and my lawyer suggested that I do not try to trademark the name until after the lawsuit."
When asked if he intended to bank off the household recognition of the name Virgin, Mr. Yang responded, "No, I never considered Virgin Threads to be similar to Virgin Enterprises in any way. The thought had never crossed my mind."
While Mr. Yang continues to fight the attempt to shut down his website, the cost of the battle continues to rise. Because of this, the Virgin Threads website features a new department entitled, "Legal Fund". The unique designs sold in this section help raise money for the defense against Virgin Enterprises, with a portion of each sale going toward the Virgin Threads Legal Defense Fund.
Despite the recent headlines and media attention, the majority of the consumer market remains unaware of these lawsuits and the dangerous trend they represent. Of those who are aware, many do not realize the true effects that will result from these court battles.
If the current bias is allowed to continue unchecked, it will leave the consumer in a precarious situation- staring in the alarming visage of a monopoly. The rising costs of protecting and defending intellectual property, along with the cost to defend against percieved violations, make an extremely hostile environment for small businesses to survive in, while rendering their growth nearly impossible.
With the disproportionate resources available to each catagory of businesses, it takes only an allegation of infringement to bankrupt many of the so-called "little guys". This ability by large corporations to remove their competition from the o
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