S13 W13 E49-52 Leveraging INSPIRATION: The Inspired Patent PodcastTM Wayne Carroll - “ Leveraging INSPIRATION: The Inspired Patent Podcast - Intellectual Property Strategy for Startups & Small Business” IBGR.Network...Grow Your Business With The Power of Radio Week 13 of 13: Trade Secret Protection Lessons from KFC, Listerine, and Life Is Good trademark, and Meet the Host
S13 E49 Unlocking Trade Secrets: Listerine's Success Story Did you know that trade secrets can be licensed indefinitely, surpassing the duration of patents or copyrights? In 1881, Dr. Lawrence sold the secret Listerine formula to a company, securing a 10% share of gross sales. Fast forward to 1956, after paying a staggering $22 million, the company sued to halt further payments. Understanding how intellectual property works is crucial for small business owners. Trade secrets can provide a competitive edge and long-term value if managed and protected effectively. What You Need to Know:
What You Need to Do
[TAKE ACTION] Take a proactive step today: Conduct an intellectual property audit for your business and prioritize trade secret protection. HOST: Wayne Carroll founded Inspired Idea Solutions Law Firm in 2013, an IP boutique law firm focused on helping small businesses with intellectual property. At Inspired Idea Solutions, we use a proven process for obtaining IP rights that focuses on aligning the business strategy of small business clients with their IP strategy. We help small businesses implement a strategy to ensure they own and leverage their intellectual property. We also have clear expectations with zero hidden fees. In addition to his legal work, Wayne is an Eagle Scout and actively volunteers with the Boy Scouts of America. He is also a proud father of six children and enjoys playing pickleball. Wayne's extensive experience and expertise in intellectual property law make him a highly respected attorney and a valuable asset to clients seeking protection for their intellectual property rights. Wayne can be reached at 480-741-2440 or Wayne@inspiredideasolutions.com. You can also connect with Wayne on LinkedIn. Schedule an appointment with Wayne Carroll for a strategy session on protecting and leveraging your intellectual property. S13 E50 KFC’s secret recipe - a lesson in protecting secrets KFC employs a multi-faceted approach to protect its trade secret recipe, ensuring its confidentiality and exclusivity. Here are some of the strategies they use:
By combining these protective measures, KFC strives to maintain the secrecy and exclusivity of their trade secret recipe, enabling them to preserve their unique flavor profile and competitive advantage in the fast-food industry. Similarly, your company can follow this same pattern to protect your trade secrets.
HOST: Wayne Carroll is a highly experienced intellectual property lawyer with over 15 years of experience. He holds a Juris Doctor degree with a concentration in Intellectual Property Law from Suffolk University Law School, as well as an undergraduate degree in Electronic Engineering Technology from DeVry University. Wayne is the CEO and Attorney at Inspired Idea Solutions, LLC, a firm he founded in 2013, where he specializes in patent strategy, patent prosecution, trademark strategy and registration, and copyright litigation. Wayne can be reached at 480-741-2440 or Wayne@inspiredideasolutions.com. You can also connect with Wayne on LinkedIn. Schedule an appointment with Wayne Carroll for a strategy session on protecting and leveraging your intellectual property. S13 E51 Life is Good trademark story, and trademarks for clothing brands The LIFE IS GOOD trademark was started by brothers Albert and John Jacobs and was rejected several times by the trademark office before they finally obtained their trademark registration. In this podcast, we are going to explore how to use a trademark on clothing brands so that it will be accepted by the trademark office on the first try. In 1994 Albert and John Jacobs started a clothing brand called LIFE IS GOOD. In Feb. of 1995 they applied for a trademark, which was rejected. In March of 1995, a LIFE IS GOOD Logo application was filed, but that one did not become a trademark. In March of 1996, another trademark was filed and this one finally became a trademark. I don’t know the exact reasons the first two were rejected, but it is common for clothing brands to be rejected because of how they use the brand. This episode has video content but video will not be required to understand. If you want to see the video find my podcast LEVERAGING INSPIRATION on YouTube and look for Episode 51. For trademark use on clothing, put the brand on the tag or the packaging. A brand on the clothing itself is not considered trademark use. Use actual photos of your clothing with the tag or packaging that shows the brand. Use the brand on your website where you sell the clothing as a brand at the top of the page. Work with an attorney to ensure you are prepared to qualify for federal trademark protection. HOST: Wayne Carroll is a highly experienced intellectual property lawyer with over 15 years of experience. He holds a Juris Doctor degree with a concentration in Intellectual Property Law from Suffolk University Law School, as well as an undergraduate degree in Electronic Engineering Technology from DeVry University. Wayne is the CEO and Attorney at Inspired Idea Solutions, LLC, a firm he founded in 2013, where he specializes in patent strategy, patent prosecution, trademark strategy and registration, and copyright litigation. In addition to his legal work, Wayne is an Eagle Scout and actively volunteers with the Boy Scouts of America. He is also a proud father of six children and enjoys playing pickleball. Wayne's extensive experience and expertise in intellectual property law make him a highly respected attorney and a valuable asset to clients seeking protection for their intellectual property rights. Wayne can be reached at 480-741-2440 or Wayne@inspiredideasolutions.com. You can also connect with Wayne on LinkedIn. Schedule an appointment with Wayne Carroll for a strategy session on protecting and leveraging your intellectual property. S13 E52 About the Host - Wayne Carroll Patent and Trademark Attorney I was not breathing when I was born. I was sick a lot as a child. My health was a challenge, but I still loved the outdoors, camping, and Boy Scouts. I earned my eagle scout, and I still volunteer with Boy Scouts, now called Scouts BSA. I grew up in Colorado in a large family with 9 siblings I was always fascinated by machines and how things work - At 5 years old I went to Disney Land, and what interested me the most was an escalator that was under repair. I stopped to try to see how it worked, and my parents lost track of me. I enjoyed math and science in school. I earned a degree in Electronics Engineering Technology from DeVry in Phoenix Arizona. First career - engineer in the semiconductor industry Grandfather earned a Ph.D. in electronics and was an inventor - Bell Labs My father earned an MBA and my plan was to get an advanced degree like my father and grandfather. Prayer - This was a matter of prayer for me, and learned a lesson about how to receive answers to my prayers. Through prayer, I was guided to become a patent attorney. Inspired Idea Solutions Law Firm was named based on my belief that great ideas come from a higher power. I help businesses with their inspired ideas so they can do the most good with their ideas. HOST: Wayne Carroll founded Inspired Idea Solutions Law Firm in 2013, an IP boutique law firm focused on helping small businesses with intellectual property. At Inspired Idea Solutions, we use a proven process for obtaining IP rights that focuses on aligning the business strategy of small business clients with their IP strategy. We help small businesses implement a strategy to ensure they own and leverage their intellectual property. We also have clear expectations with zero hidden fees. Wayne can be reached at 480-741-2440 or Wayne@inspiredideasolutions.com. You can also connect with Wayne on LinkedIn. Schedule an appointment with Wayne Carroll for a strategy session on protecting and leveraging your intellectual property.
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