00:06
Now the next question comes from thin W thin would like to know, as far as protection goes, if I am granted a patent, what's to stop someone else in the world to pay another attorney? Just to simply get around that?
00:21
Okay, and what's the name is what was the name thing? W fin was two ends. Okay. Okay, perfect. So fin, great question.
00:32
Attorneys are hired all the time to try to get around patents. So even myself, I hired by companies who want to produce a product, there is no there's a patent out there. And they want to know how strong that patent is, and whether they can design around it. So the short answer is, yes, companies are going to try to steal your idea. Anytime a company can take an idea for free, versus paying for an idea, what option do you think they're going to choose? They're going to steal the idea for free. And that's why the quality of the patent is critical. It's everything. If the patent is written the right way, by a good attorney that understands how to draft claims, he should write that application in a way that does not allow competitors to design around it. The client that I had mentioned the client of mine, Alex Gomez, the reason his his patent was purchased for over $100 million. Is that is that the companies that were evaluating it could not find ways around his idea. They could not find loopholes, they couldn't find gaps. And believe me, they tried they That's it. That's the company is under a fiduciary duty to try they have the board of directors and stockholders, companies should not be paying for stuff that they don't have to so they're going to hire an attorney to find out if the patent is well written, no different than if you're going to purchase a home. The smart thing to do would be to hire a home inspector. Find out if the House has termites. Find out if the roof is going to collapse. Find out if there's any fire damage. If you're going to purchase a car, run a report on the car. I think Carfax is the big company that does that. Find out if the car has ever been in a flood, find out if it's ever been in a fire or if it's ever been in an accident. You do your due diligence before you purchase a vehicle. You do your due diligence before you buy a house or a commercial building. Companies are not going to pay for a patent without first hiring a lawyer to see if the idea can be
02:46
avoided if you can design around and sneakily avoid the claims of a patent without infringing that's their first option. So the best defense against that is to is to go to a patent attorney that drafts patents that are bulletproof so that companies can't design around them.