#Week 18 / Invention, Intellectual Property and Business Models

The invention process is a process within an overall engineering and product development process. It may be an improvement upon a machine or product or a new process for creating an object or a result. An invention that achieves a completely unique function or result may be a radical breakthrough. Such works are novel and not obvious to others skilled in the same field. An inventor may be taking a big step in success or failure. Some inventions can be patented

.

Patent, license

Intellectual property refers to inventions; literary and artistic works; and symbols, names and images used in commerce. Intellectual property is divided into two categories: Industrial Property includes patents for inventions, trademarks, industrial designs and geographical indications. Copyright covers literary works (such as novels, poems and plays), films, music, artistic works (e.g., drawings, paintings, photographs and sculptures) and architectural design. Rights related to copyright include those of performing artists in their performances, producers of phonograms in their recordings, and broadcasters in their radio and television programs A patent is an exclusive right granted for an invention – a product or process that provides a new way of doing something, or offers a new technical solution to a problem. A patent provides patent owners with protection for their inventions. Protection is granted for a limited period, generally 20 years.

Income

Income is the revenue a business earns from selling its goods and services or the money an individual receives in compensation for his or her labor, services, or investments.

A startup incubator is an individual or a company which helps a startup in their early stages. It’s much more like nurturing a small plant. The Incubators guide and optimize the startup’s idea, concept, workflow and finances. In simple terms, it’s not wrong to say that incubators are like business coach which guides the newbies on the grounds of business and help them learn efficient business approach to grow their business.

Business Accelerator:

A business accelerator is an advanced version of the Incubator. A business accelerator will help startups in growing and expanding their startup by ‘accelerating’ their business. The core role of an accelerator is to focus on growth and expansion of the current business. The goal is to scale the business by growing the reach of the startup in the new networks. It’s very important to make the business sustainable and growing in such a competitive ecosystem.

After learning about license, invention, income, and others, I am going to describe my project. My invention is my desk as, no one before made a table, which can charge almost anything.It will have Qi charging technology which supports all smartphones, tablets, watches, computers and other devices which has wireless charging capability. Qi charging technology is very flexible and effective in terms of wireless charging power consumption.

I am going to develop my desk and change the design, increase the attractiveness, make it more flexible…. As I am going to turn my idea to business, my product will be partly open source. Any individual can take the technology and make own desk. For the market, I am going to use different technology and it won’t be open. I will give enough technology that everyone will be able to make its wireless charging desk at the laboratory. I think in the future most of the tables will have charging function and my invention is really very useful for offices, coworking….